Market Research Report
Prefilled Syringes Market Size By Type, By Design, By Applications, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 - 2025
|Published by||Global Market Insights Inc.||Product code||904522|
|Published||Content info||135 Pages
Delivery time: 2-3 business days
|Prefilled Syringes Market Size By Type, By Design, By Applications, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 - 2025|
|Published: July 22, 2019||Content info: 135 Pages||
Prefilled Syringes Market Size By Type (Glass, Plastic), By Design (Single-chamber, Dual-chamber), By Applications (Diabetes, Rheumatoid Arthritis, Anaphylaxis, Antithrombotic/thrombolytic therapy), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 - 2025.
Prefilled Syringes Market will exceed USD 9.5 billion by 2025; as per a new research report.
Growing adoption of biosimilars in developed regions will prove beneficial for prefilled syringes market growth over the forecast period. Biosimilars are the cost effective way of treating chronic diseases such as cancer that has increased its popularity over the last few years. However, biosimilars get easily contaminated and hence require secure packaging to prevent contamination. Moreover, biosimilars need to be administered in precise quantity. This scenario augments the demand for prepopulated syringes as it can be effectively used for delivery of biosimilars.
Growing incidences of diabetes and rheumatoid arthritis across the globe will render a significant positive impact on prefilled syringes market growth. Diabetes and rheumatoid arthritis patients frequently require medications through injection. Prefilled syringe is convenient, efficient and reliable option for drug administration in such patients. It also enhances patient outcome and minimize drug wastage. However, complexities associated with prepopulated syringes may hamper industry growth to certain extent.
Plastic segment accounted for more than USD 1.3 billion in 2018 and it is anticipated to witness lucrative growth from 2019 to 2025. Substantial growth is attributed to compatibility associated with plastic material used for prefilled syringe manufacturing. Plastic eliminates the maintenance issue and is compatible with wide range of drugs. It shows minimum interference with molecular structure of biologics in the preloaded syringe. These properties make plastic appropriate material for prefilled syringes that will exceed segment growth.
Dual-chamber segment of prefilled syringes market is anticipated to witness around 12.5% CAGR throughout the analysis timeframe. Dual-chamber prefilled syringes are used for packaging of lyophilized solvent and liquid drugs to achieve homogenization and mixing of ingredients prior to administration. Dual-chamber prefilled syringe design has multiple bypass channels that enables user to sequentially inject both the solvent as well as liquid solution. These benefits of dual-chamber design will augment its demand, thereby fueling segment growth.
Antithrombotic/thrombolytic therapy segment accounted for more than USD 500 million in 2018 and it is anticipated to witness robust growth over the forecast period. In antithrombotic/thrombolytic disorder, thrombus or clots blocks the smooth blood flow. Anticoagulant medications comprising of fibrin and platelet are in liquid form and often administered as an injection shot. Prepopulated syringes are increasingly being used for antithrombotic therapy that should accelerate the segment growth.
Asia Pacific prefilled syringes market is anticipated to witness around 12% growth over the analysis timeframe. Presence of abundant patient pool suffering from chronic conditions such as diabetes, anaphylaxis, rheumatoid arthritis, etc. will prove beneficial for regional growth. Moreover, rising government expenditure on healthcare domain will encourage industry players to develop innovative solutions benefiting the regional prefilled syringes industry growth.
Notable industry players operational in the prefilled syringes market include Becton Dickinson (BD), Weigao, OMPI, Novartis, Mylan, Fresenius Kabi, Gerresheimer, Catalent, Medpro, Stevanato Group, SCHOTT, and Nipro. These industry players implement several strategies such as mergers, acquisitions, and product launches to grab higher market share and sustain the industry competition. For instance, in January 2016, SCHOTT added new closure systems in existing preloaded syringes i.e., syriQ glass PFS that would offer more flexibility for pharma companies. This product launch strategy will enable company to extend its offerings in the industry.