|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
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The prefilled syringes market is projected to register a CAGR of 10.89% during the forecast period.
The COVID-19 pandemic has had a major impact on the market. Various market players are attempting to contribute to the vaccine shot by introducing COVID-19 vaccine-specific products to the market. For example, Becton, Dickson and Company (BD) demonstrated that its glass prefilled syringes are suitable for use with mRNA shots that must be stored at ultralow temperatures in order to unlock a new COVID-19 vaccine opportunity. In 2020, as the storage requirements for mRNA vaccines against the coronavirus became clear, BD began looking into how its syringes handled temperatures as low as minus 20 degrees Celsius and as low as minus 40 degrees Celsius.
The market for prefilled syringes is projected to grow, owing to factors such as increasing adoption of self-care devices, benefits associated with prefilled syringes, and high demand for improved safety in injectables. The prefilled syringes make injections easy, accurate, and safe for patients and doctors. Prefilled syringes have emerged as one of the fastest-growing choices for unit dose medication as the pharmaceutical industry seeks new and more convenient drug delivery methods.
Pharmaceutical companies can get benefit by saving on the cost of vials. The prefilled syringes work well with safety devices and auto-injection systems. Pharmaceutical companies are able to minimize drug waste and increase product life span, while patients are able to self-administer injectable drugs at their homes instead of the hospital. Prefilled syringes have also been utilized across a wide range of therapeutic sectors, such as vaccines, blood stimulants, and therapeutic proteins.
Eliminating dosing errors and ease of use are two of the greatest advantages of prefilled syringes. Consequently, the differential advantages provided by prefilled syringes over traditional syringes are leading to increased adoption and contributing to the global market growth.
Scope of the Report
As per the scope of this report, a prefilled syringe is a single dose packet of the parenteral drug, to which a needle has been fixed by the manufacturer. Prefilled syringes provide greater patient safety by reducing the potential for inadvertent needle sticks and exposure to toxic products that can occur while drawing medication from vials. The Prefilled Syringes Market is segmented by Material (Glass Prefilled Syringe and Plastic Prefilled Syringe), Application (Diabetes, Anaphylaxis, Rheumatoid Arthritis, Oncology, and Other Applications), Type (With Needle and Without Needle), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report offers the value (in USD million) for the above segments. The market report also covers the estimated market sizes and trends for 17 countries across major regions globally.
|Glass Prefilled Syringe|
|Plastic Prefilled Syringe|
Key Market Trends
Diabetes Segment Projected to Experience Highest Growth Over the Forecast Period.
The rising prevalence of diabetes around the world is a primary factor driving market expansion. Diabetes is one of the world's most serious public health problems, posing a significant threat to public health and socioeconomic development. Although the incidence of diabetes has begun to decline in some nations, the prevalence of diabetes has climbed in most other industrialized and developing countries in recent decades.
According to the Centers for Disease Control's (CDC) National Diabetes Statistics Report for 2020, cases of diabetes rose to an estimated 34.2 million. Also, according to the International Diabetes Federation (IDF), in 2021, around 537 million adults between 20 years and 79 years of age were living with diabetes. As per the same source, the number of people living with diabetes is projected to increase to 63 million by 2030 and 783 million by 2045.
As per the article published in September 2020 titled Global, regional, and national burden and trend of diabetes in 195 countries and territories: an analysis from 1990 to 202, the prevalence of both type 1 and type 2 diabetes among children and adolescents has also increased, and the estimates of children and adolescents below age 20 with type 1 diabetes now exceed one million.
The segment growth is driven by technological developments, new product launches, and increasing adoption of prefilled syringes. For instance, in March 2022, Novo Nordisk made its smart insulin pens available in the UK, giving people treated within the NHS for diabetes access to devices that can monitor and record dosing information for the first time. Similarly, in November 2020, Medtronic PLC launched InPen integrated with real-time Guardian Connect CGM data. InPen is the first and only FDA-cleared smart insulin pen on the market for people on multiple daily injections (MDI). Hence, all the above-mentioned factors boost the market growth.
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North America Expected to Hold a Significant Market Share and Expected to do the Same in the Forecast Period
The COVID-19 pandemic has had a significant impact on the prefilled syringes market. According to Owen Mumford Pharmaceutical Services' Head of Product Strategy & Insights, the COVID-19 pandemic has accelerated the shift to patient self-treatment and remote physician consultations. Many patients are now more willing to self-treat and manage their illnesses with less face-to-face interaction with healthcare providers. This set of circumstances has aided the growth of autoinjectors and prefilled syringes as a self-administering medication method.
In January 2017, the United States Food and Drug Administration (FDA) released final guidance describing and explaining the current good manufacturing practice (CGMP) requirements for combination products, first released in January 2013. Prefilled drug delivery systems, including prefilled syringes, are combination products subject to the Final Rule. From a manufactures perspective, the Final Rule, as provided by the US FDA, tightens the regulations for syringe manufacturers and has made the manufacturing operation more stringent than before. This has acted as a deterrent to global players based in the United States and prevents them from expanding their regional operations in other regions.
Overall, there is a large concentration of vendors supplying both end products and original components in the prefilled syringe market. The use of prefilled syringes in the United States is consequently ensured by the presence of appropriate vendors. Lifestyle-associated illnesses and growing demand for easy-to-administer injectables in patients with chronic disease are helping the United States prefilled syringe market flourish.
As per the Food Allergy Research & Education (FARE) 2022, around 200,000 people need emergency medical care for allergic reactions to food each year in the United States. Hence, market players are launching various products to treat allergic reactions. For instance, in January 2019, Sandoz Inc., a division of Novartis, announced the launch of SYMJEPI (epinephrine) 0.3 mg Injection in the US market for the emergency treatment of allergic reactions (Type 1), including anaphylaxis. The introduction of novel products is likely to boost the market of prefilled syringes in the United States.
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The market for prefilled syringes is moderately competitive, and there is high price competition in the market. The market is comprised of global and local players. Most developing countries have local players that provide prefilled syringes at a lower price. However, the market is majorly dominated by global companies. Few companies are expected to penetrate the market in the near future, and they are expected to account for a substantial share of the prefilled syringes market.
Some of the players that are operating in the market are Becton, Dickinson and Company, B. Braun Melsungen AG, Baxter International Inc., Terumo Corporation, Cardinal Health Inc., Teva Pharmaceuticals Industries Ltd, Fresenius SE & Co. KGaA, Mylan NV, Sanofi SA, Syntegon Technology GmbH, Gerresheimer AG, MedXL Inc., and SCHOTT.
- In January 2022, Owen Mumford announced that it received approval for its UniSafe 1mL safety device for pre-filled syringes in Asia. In Europe, regulatory approval has also been granted for UniSafe 1mL, and the product is now available on the market as a combination product with a drug for the treatment of rheumatoid arthritis.
- In January 2021, Aurobindo Pharma Limited received approval from the United States Food and Drug Administration (USFDA) to manufacture and market Naloxone HCl Injection Prefilled Syringe 2 mg/2 mL.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Adoption of Self-care Devices
4.2.2 Benefits Associated with Prefilled Syringes
4.3 Market Restraints
4.3.1 Product Recalls
4.3.2 Availability of Alternate Drug Delivery Methods
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value – USD million)
5.1 By Material
5.1.1 Glass Prefilled Syringe
5.1.2 Plastic Prefilled Syringe
5.2 By Application
5.2.3 Rheumatoid Arthritis
5.2.5 Other Applications
5.3 By Type
5.3.1 With Needle
5.3.2 Without Needle
5.4.1 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.4.4 Middle-East and Africa
22.214.171.124 South Africa
126.96.36.199 Rest of Middle-East and Africa
5.4.5 South America
188.8.131.52 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Becton, Dickinson and Company
6.1.2 B. Braun Melsungen AG
6.1.3 Baxter International Inc.
6.1.4 Terumo Corporation
6.1.5 Cardinal Health Inc.
6.1.6 Teva Pharmaceuticals Industries Ltd
6.1.7 Fresenius SE & Co. KGaA
6.1.8 Mylan NV
6.1.9 Sanofi SA
6.1.10 Syntegon Technology GmbH
6.1.11 Gerresheimer AG
6.1.12 MedXL Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Prefilled Syringes Market market is studied from 2019 - 2027.
What is the growth rate of Global Prefilled Syringes Market?
The Global Prefilled Syringes Market is growing at a CAGR of 10.89% over the next 5 years.
Which region has highest growth rate in Global Prefilled Syringes Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Prefilled Syringes Market?
North America holds highest share in 2021.
Who are the key players in Global Prefilled Syringes Market?
Becton Dickinson and Company, Cardinal Health, Fresenius SE & Co. KGaA, B. Braun Medical Inc., Terumo Corporation are the major companies operating in Global Prefilled Syringes Market.