What is the global market size of Prefilled Syringes Market?

Global Prefilled Syringes Market size was valued at USD 18.43 billion in 2021 and is poised to grow from USD 20.63 billion in 2022 to USD 56.99 billion by 2030, growing at a CAGR of 11.95% in the forecast period (2023-2030).

Global Prefilled Syringes Market Size, Share, Growth Analysis, By Type(Disposable, Reusable), By Material(Glass Syringes, Plastic Syringes), By Application(Anaphylaxis, Diabetes), By Distribution Channel(Hospital Pharmacies, Retail Pharmacies & Drug Stores) - Industry Forecast 2024-2031

Report ID: SQSG35B2013 | Region: Global | Published Date: February, 2024
Pages: 274 | Tables: 114 | Figures: 77

Global Prefilled Syringes Market Insights

Global Prefilled Syringes Market size was valued at USD 18.43 billion in 2019 and is poised to grow from USD 20.63 billion in 2023 to USD 56.99 billion by 2031, growing at a CAGR of 11.95% in the forecast period (2024-2031).

The primary reasons driving the market expansion are an increase in the demand for effective and user-friendly drug delivery systems and an increase in the efforts made by healthcare professionals to lower hospital errors. The market for prefilled syringes is expanding as a result of factors including the expansion of home healthcare services, rising use of injectable medications, an increase in the prevalence of chronic diseases, and a surge in the advantages of prefilled syringes over conventional vials. In addition, prefilled syringe-related technology developments aid in the market's expansion. The availability of alternate medicine delivery techniques, strict government regulations, and product recalls are anticipated to impede industry expansion. On the other hand, the development of biologics and biosimilars as well as the rise in demand for injectable medications in prefilled forms present profitable potential for market expansion.

US Prefilled Syringes Market is poised to grow at a sustainable CAGR for the next forecast year.

Global Prefilled Syringes Market Report Snapshots

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Prefilled syringes are a market with a high level of competition and intense price competition. Global and local businesses are present in the industry. Local businesses that sell prefilled syringes for less are common in poor nations. Global corporations, however, have a significant market share. Only a small number of businesses are anticipated to enter the market in the near future, but they are anticipated to hold a sizable portion of the prefilled syringes industry. 'Becton, Dickinson and Company', 'Gerresheimer AG', 'SCHOTT AG', 'West Pharmaceutical Services, Inc.', 'Vetter Pharma International GmbH', 'Nipro Corporation', 'Catalent Pharma Solutions, Inc.', 'Terumo Corporation', 'Berry Global, Inc.', 'Stevanato Group', 'Ompi (a division of Stevanato Group)', 'MedPro Inc.', 'AptarGroup, Inc.', 'Weigao Group', 'Haselmeier GmbH', 'Catalent, Inc.', 'RPC Group Plc', 'Ypsomed Holding AG', 'OMPI (a division of Stevanato Group)', 'Unilife Corporation'

Prefilled syringes are frequently used for the treatment of chronic illnesses that allow patients to self-administer medication, such as diabetes, heart problems, and autoimmune diseases. As a result, the market for prefilled syringes is expanding as a result of the increasing prevalence and frequency of chronic and life conditions around the world. Considering the comfort and safety of using self-injection equipment, there is also a rising demand for it.

Biologics and biosimilars are rapidly replacing chemical-based medications in the worldwide life science market. Because they are less likely to interact with other drugs, biologics are great for targeted delivery and increase inclination. Manufacturers of pharmaceuticals and packaging are under pressure to develop more advanced container closure and drug delivery methods due to the increase in biologics used to treat chronic diseases. As a result, the adoption of these syringes for the secure administration of biologics and biosimilars has significantly increased. For instance, 98 biosimilars have so far received approval in India, according to the Central Drugs Standard Control Organization (CDSCO).

Globally, Europe held the largest share of the prefilled syringes market in 2021, owing to factors such the increasing preference of healthcare professionals for prefilled injectable devices to reduce needle-related injuries. Major market companies including Gerresheimer AG, SCHOTT group, Stevanato Group, Haselmeier AG, and Owen Mumford Ltd. are also present in the area. Over time, several businesses have increased their local presence. Due to this circumstance, the market has become more competitive in the area, making it challenging for new competitors to enter. Due to these businesses' global expansion and dominance of the market, Europe receives the majority of global revenue. Due to the emergence of rapidly expanding economies and the existence of a sizable untapped market, Asia Pacific is anticipated to see the quickest CAGR between 2022 and 2030. The region's market is anticipated to increase as a result of favourable demographic variables including the huge population and rising prevalence of various chronic diseases. The prefilled syringes market is developed and includes nations like China.

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Global Prefilled Syringes Market Size, Share, Growth Analysis, By Type(Disposable, Reusable), By Material(Glass Syringes, Plastic Syringes), By Application(Anaphylaxis, Diabetes), By Distribution Channel(Hospital Pharmacies, Retail Pharmacies & Drug Stores) - Industry Forecast 2024-2031

Global Prefilled Syringes Market Insights

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