Market Research Report
Global Pre-filled Syringes Market Research Report, Insights, Opportunity Analysis, Market Shares and Forecast, 2017 -2023
|Published by||Occams Business Research & Consulting Pvt. Ltd.||Product code||609647|
|Published||Content info||190 Pages
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|Global Pre-filled Syringes Market Research Report, Insights, Opportunity Analysis, Market Shares and Forecast, 2017 -2023|
|Published: March 1, 2018||Content info: 190 Pages||
The global prefilled syringe market is expected to grow with the CAGR of over 10% during forecast period 2016-2023. Prefilled syringe are novel medical devices that are used to deliver vaccines, drugs, biologics etc. The major driver for the growth of global prefilled syringes market is increasing prevalence chronic disease such as diabetes, rheumatoid arthritis, cancer etc. increasing adoption of self-injection devices such as pen injectors, technological advancements in the drug delivery platforms and superior effectiveness of the 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 factor that impede the growth of global prefilled syringe market.
The global prefilled syringe market report covers segmentation analysis of application, material and design. The application segment is further segmented into diabetes, anaphylaxis, arthritis and others. The material segment is further segmented into glass based and plastic based. The diabetes segment dominates the application segment in 2016 owing to high adoption of prefilled syringes in the diagnosis of diabetes primarily due to significant reduction in medical errors and increasing prevalence of home-based care. In the glass based prefilled syringe dominated the material segment in 2016.
Geographically, North America and Europe region dominated the global prefilled syringe market, moreover Asia Pacific is expected to grow with the highest CAGR over the forecast period of 2016-2023. The North America and Europe prefilled syringe is primarily driven by growing 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. Asia Pacific prefilled syringe market is primarily driven by rising geriatric population coupled with the demand of improved healthcare backed up by increasing healthcare expenditure.
The key players in the global prefilled syringe market are Gerresheimer (Germany), Nipro Pharma Corporation (Vietnam), Unilife Corporation (Us), Weigao Group (China) and others. These companies are adopting various strategies such as merger & acquisition, collaboration, partnership and product launch. Whereas, acquisition is the key strategy adopted by companies in global prefilled syringe market. For instance, in 2016 Cardinal health acquired medical supplies business of Medtronic for $ 6.1 billion. The medical supplies business includes bandages, prefilled syringes, and catheters etc. This portfolio acquisition will enable cardinal to increase product breadth of cardinal in consumable medical products as well as further increase geographic scale and enhance channel access in the untapped market.