Market Research Report
Global Prefilled syringes Market Size study, by material type Design and Regional Forecasts 2018-2025
|Published by||Bizwit Research & Consulting LLP||Product code||799130|
Delivery time: 2-3 business days
|Global Prefilled syringes Market Size study, by material type Design and Regional Forecasts 2018-2025|
|Published: February 14, 2019||Content info:||
Global prefilled syringes market to reach USD 9.3 billion by 2025.
Global prefilled syringes market valued approximately USD 4.3 billion in 2017 is anticipated to grow with a healthy growth rate of more than 10.1 % over the forecast period 2018-2025. Ease of administration and reduced risk of contamination offered by these devices over the conventional delivery systems such as vial and ampoules are the key trends that are responsible for the wide adoption of prefilled syringes globally.
Increasing prevalence of chronic disease such as diabetes, rheumatoid arthritis, cancer etc. the diagnosis of which demand frequent drug injection is the major factor driving the global prefilled syringe market. Further, the ease at which patient can self-administer injectable drugs make prefilled syringes a preferred choice for healthcare treatment into home or out of hospital. As per CDC (Center for disease control & prevention) 54.4 million adults between the year 2013 and 2015 were diagnosed for arthritis further it is anticipated that by 2040, 78.4 million (25.8 % of the estimated total adult population) adults with the age of 18 years and above would be doctor-diagnosed for arthritis alone in US. Commercially, prefilled syringes for the diagnosis of cancer, diabetes, multiple sclerosis, anaphylaxis etc. are available as of October 2017. Moreover, increasing adoption of self-injection devices such as pen injectors, technological advancements in the drug delivery platforms and superior effectiveness of the prefilled syringes to reduce medication errors are the other major factors driving the demand for prefilled syringes. However, easy availability of alternative products i.e. vials, ampules and stringent government regulations on the manufacturing of prefilled syringes are the major factors that impede the growth of global prefilled syringe market.
On the basis of segmentation, the prefilled syringes market is segmented into material, type and design. The material segment of global prefilled syringes market is classified into glass-based and plastic based. Glass based prefilled syringes held major share in 2016. However, the demand for plastic based prefilled syringes are increasing due to increasing awareness among healthcare practitioners and physicians to reduce medication errors as it offers clarity which is helpful to reduce medication errors. Based on type segment, the market is diversified into safety prefilled syringes and conventional prefilled syringes. On the basis of design segment, the market is classified into single-chamber prefilled syringes, dual-chamber prefilled syringes and customized prefilled syringes.
The regional analysis of prefilled syringes market is considered for the key regions such as North America, Europe, Asia Pacific, Latin America and ROW. North America and Europe have occupied major share in the global prefilled syringe market, followed by Asia Pacific. The major reason for the dominance of Europe and North America is the constant increase in geriatric population, demand for quality healthcare, increasing trend of home-based treatment coupled with high healthcare expenditure in these regions that has facilitated wide adoption of prefilled syringes. Whereas, Asia-Pacific is expected to emerge as the fastest growing region in terms of market share. The growth of Asia-Pacific region is witnessed owing to the increasing number of hospitals, clinics in Indian and China. Also, improving healthcare infrastructure is also expected to supplement the growth of Asia-Pacific over the forecast period.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Historical year - 2015, 2016
Base year - 2017
Forecast period - 2018 to 2025