USD 18.43 billion
Report ID:
SQSG35B2013 |
Region:
Global |
Published Date: September, 2024
Pages:
274
|Tables:
114
|Figures:
77
Global Prefilled Syringes Market size was valued at USD 6.8 billion in 2022 and is poised to grow from USD 7.52 billion in 2023 to USD 16.84 billion by 2031, growing at a CAGR of 10.60% during the forecast period (2024-2031).
Pre-filled syringes have emerged as one of the fastest alternatives to single-dose medications as the pharmaceutical industry explores new convenient delivery methods. The Health Organization's June 2022 Self-Care Intervention indicates in its statement that self-use indicates contraceptives can help reduce unintended pregnancies. The article estimates that a person and healthcare professional spend less than 1 hour in a year, while spending over 8700 hours in self-care. Increased self-care in society adoption will boost the demand for pre-filled syringes, which is expected to drive the market growth over the forecast period.
Moreover, increasing prevalence of diabetes and arthritis, increasing biosimilars in developed regions are some of the other factors driving the market expansion. According to a report released by SingleCare in January 2022, the global population exceeded 14.0 million suffer from arthritis each year. It also found that asthma affects more than 1.36 million adults in the United States each year. Furthermore, according to a journal published by the American College of Arthritis in July 2022, arthritis is the most common autoimmune arthritis in the United States. While pre-filled syringes provide free safety, the use of the same is expected to increase in the future.
US Prefilled Syringes Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 18.43 billion
Largest Segment
Disposable
Fastest Growth
Disposable
Growth Rate
11.95% CAGR
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Global Prefilled Syringes Market is segmented by Type, Design, Material, Application, and region. Based on Type, the market is segmented into Conventional Prefilled Syringes, and Safety Prefilled Syringes. Based on Design, the market is segmented into Single-chamber Prefilled Syringes, Dual-chamber Prefilled Syringes, and Customized Prefilled Syringes. Based on Material, the market is segmented into Glass Prefilled Syringes, and Plastic Prefilled Syringes. Based on Application, the market is segmented into Diabetes, Rheumatoid Arthritis, Anaphylaxis, Cancer, Thrombosis, Ophthalmology, and Others. Based on region, the Prefilled syringes market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Prefilled Syringes Market Analysis by Type
The vaccine and immunizations segment saw the biggest proportion at 25.8% in 2023. Many vaccines require multiple doses to be administered over a duration. This can improve patient compliance, critical for vaccine software fulfillment. For example, prefilled syringes may be prepackaged and labelled, making it less difficult for sufferers to apply themselves. Prefilled syringes are perfect for this reason as they get rid of the need for health care companies attracts drugs from bottles, growing. Pre-filled syringes are simpler for patients to use than traditional bottles and syringes.
The oncology segment is predicted to be the fastest CAGR during the forecast duration. Many oncology treatment options require common injections, and pre-crammed syringes offer extra advantages for patients undergoing remedy or different injection remedies. Compared to traditional vials and syringes, they are easy to transport and self-administer, improving patient comfort and independence during the procedure. Advances in pre-filled syringe technology such as multichamber syringe facilitates the delivery of combination therapy used in some cancer therapies.
Prefilled Syringes Market Analysis by Application
The disposable segment held the largest market share of 91.4%in 2023 and is expected to register the fastest CAGR during the forecast period. Injection drugs require high security of syringe and today with the advent of disposable syringes it is much easier to eliminate risk to some extent. Most diagnostic treatments for chronic diseases require disposable pre-filled syringes because they are needed during drug administration and testing, leading to increased demand. In June 2021, Hindustan Syringes & Medical Devices Ltd. including the launched of Star Syringes in the UK disposable safety needles Enter technical cooperation.
The reusable segment had a significant market share in 2023. Some syringes can be used more than once in a patient with disposable tips. Injectors recycled once a week can save 200 units per year in production requirements. For example, according to the U.S. FDA in October 2019, manufacturers commonly provide dental dispensers as prefilled syringes with disposable tips. While the tips are discarded after each patient, the dispensers with remaining dental material are often reused. This can help reduce costs for manufacturers and health care providers and the potential for infection if safety measures are followed properly.
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North America region in the prefilled syringes market share is 32.3% in 2023. Prevention of needlestick injuries by healthcare professionals is a priority in developed countries including the US. and Canada including in pre-filled syringes with needle guards decrease the likelihood of this injury. Centers for Disease Control for Vaccine Administration owing to their ability to preserve vaccine potency over a long period of time and shelf life driving the market growth. North America accounted for the largest share of the pre-filled syringes market in 2023. Also, injection devices, improved medication regimens, technological advances, routine prescriptions of self-administered devices and Prevention (CDC) recommendations are expected to deliver the market has developed.
Asia-Pacific region is the fastest growing segment in the market. Prefilled syringes market is anticipated to expand significantly due to huge number of regional approvals by Food and Drug Administration (FDA), Medical Products Agency (TGA) and European Medicines Agency (EMA). The prefilled syringes market in Japan is poised for significant growth due to the increasing prevalence of chronic diseases and patient safety and comfort concerns. In addition, regulatory reforms and incentives, biologics and biosimilars and faster approval processes, have attracted pharmaceutical companies to invest in the market.
The growth of China region in the prefilled syringes market has been influenced by several drivers, which contribute to the growth and adoption of this medical device. China’s rapidly developing healthcare infrastructure and patient needs played a major role in the prefilled syringes market. The prevalence of chronic diseases such as diabetes, cardiovascular diseases and autoimmune diseases is increasing in China.
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Prefilled Syringes Market Driver
Increasing Demand for Vaccines and Immunizations
Technological Advances in Drug Delivery Systems
Prefilled Syringes Market Restraints
Increased Manufacturing Costs and Complex Regulatory Requirements
Handling and Storage Challenges
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The prefilled syringes market is particularly competitive and dynamic, with each installed pharmaceutical giants and specialized medical tool agencies actively engaged in driving innovation, enhancing patient safety, and increasing their international presence. These competitive environments are fashioned by way of elements such as technological advancements, strategic partnerships, acquisitions, and the consistent need for addressing stringent regulatory requirements.
Prefilled Syringes Market Top Player's Company Profiles
Prefilled Syringes Market Recent Developments
Transition to Polymer-Based Prefilled Syringes:
Increased Focus on Self-administration and Home Health Care:
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Prefilled Syringes Market Analysis, The market for prefilled syringes is anticipated to grow as a result of factors like expanding self-care device usage, benefits of prefilled syringes, and strong demand for better injection safety. Prefilled syringes make injections rapid, accurate, and safe for patients and healthcare professionals. Prefilled syringes have experienced the fastest rise among unit dose medication options as the pharmaceutical industry searches for novel and more useful drug delivery methods.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 6.8 billion |
Market size value in 2031 | USD 16.84 billion |
Growth Rate | 10.60% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
|
Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Prefilled Syringes Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Prefilled Syringes Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Prefilled Syringes Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Prefilled Syringes Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
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Report ID: SQSG35B2013
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