September 19, 2024

Prefilled Syringes Market Set to Surpass USD 24.91 Billion by 2033

The global prefilled syringes market value stood at USD 7.28 billion in 2023 and it is predicted to rise to USD 24.91 billion by 2033 with a solid CAGR of 13.09% from 2024 to 2033. The prefilled syringes make injections accurate, easy, and safe for, both, doctors and patient. Pre-filled syringes have is one of the fastest- growing selection for the medication of unit dose, as the pharmaceutical industry seeks new and more accessible medicine delivery styles.

In addition, pharmaceutical companies can get benefit by saving the cost of vials. Pharmaceutical key players are suitable to minimize medicine waste and increase product life span, while patients are suitable to self- administer injectable medicines at their home rather of the hospital. In addition, re-filled syringes have also stayed employed across a wide range of therapeutic sectors, similar as blood instigations, vaccines, and remedial proteins.

Excluding dosing errors and ease of use are two of the topmost advantages of pre-filled syringes. Accordingly, the discrimination advantages handed by prefilled syringes above traditional syringes are leading to the increased relinquishment and contributing to the global market growth.

Prefilled syringes market

Prefilled Syringes Market Highlights:

  • In 2023, North America led the global prefilled syringes market, capturing the largest share of 33%.
  • The disposable segment was the dominant type in the market, holding a 92% share in 2023, and is expected to see the highest growth rate during the forecast period.
  • Within distribution channels, hospitals accounted for the largest market share of 52% in 2023.
  • The mail order pharmacies segment is projected to experience the fastest growth rate throughout the forecast period.
  • In terms of material, glass dominated the market, securing a 52% share in 2023.
  • For applications, vaccines and immunizations held the largest share at 26% in 2023.
  • The oncology segment is anticipated to achieve the fastest compound annual growth rate (CAGR) from 2024 to 2033.

Get the Sample Pages of Report for More Understanding@  https://www.visionresearchreports.com/report/sample/37704

Prefilled Syringe Market Dynamics

DriverRising target complaint population

Prefilled syringes are substantially used for the treatment of chronic diseases, similar as diabetes, heart conditions, and autoimmune conditions, which bear patients to self-administer specifics. As a result, the adding prevalence and frequency of chronic and life conditions across the globe is a major factor contributing to the growth of the prefilled syringes market. Also, there’s a growing demand for self-injection equipments, considering the convenience and safety associated with their use.

Restraint: Dearth of prefilled syringes with intertwined safety features

Prefilled syringes give better safety of patient by diminishing the potential for unintended needle sticks and poisonous products exposure that can do while drawing drug from vials. In similar patients, the defiled needle of prefilled syringes can lead to blood- borne infections, similar as HIV and HCV. In addition, the partial prefilled syringes market presence with intertwined safety features, due to their challenging and expensive manufacturing procedure, is a major concern in the market. Still, this trend is anticipated to change in the coming times, as the healthcare market is laying lesser emphasis on reducing the rate of needle stick injuries, which, in turn, is paving the way for the development of safety prefilled hypes.

OpportunityGrowing healthcare structure across arising markets

Emerging economies will continue to suffer from inadequate healthcare backing, which negatively affects access to quality, healthcare, and, eventually, the health status of citizens. According to the World Bank, roughly 400 million people lacks access to essential healthcare services, substantially in Africa and South Asia. Likewise, accelerating medical affectation, the cost of medical treatments and an advanced frequency of non-communicable life- related conditions similar as diabetes, cancer, or cardiac arrest, have rebounded in funding gaps.

According Geneva Association report, in the last 20 years, the share of the aggregate global healthcare expenditure in GDP has raised from about 8% to nearly 10%, or an estimated US$8000 billion per year, which is boosted by the expanding treatment options, medical treatment accelerating cost and adding client demands. Also, the Global Burden of Disease Health Financing Collaborator Network (2017) estimates that global spending on health will nearly triple to USD 24 trillion by 2040 with upper-middle- income countries are estimated to show the fastest increase at a normal of5.3% per time. This growth could be attributed to uninterrupted growth in GDP and the rise of the middle class and government spending.

Challenge: Availability of cheaper alternatives

Traditionally, injectable were painful and invasive in nature, which was the major concern for patients to prefer medicine delivery alternate routes, such as topical, oral, and nasal. In addition, among the various routes of medicine delivery, the oral route is the most preferred as it’s easy to use, accessible, cost-effective, safe, and respectable. Due to the above mentioned factors, the adoption of indispensable medicine delivery technologies is adding across the globe. Like, cost-effective delivery styles development for insulin, alternate, similar as Medtronic’s Veo insulin and Pfizer’s Exubera pump, is restraining the usage of injectable insulin. Presently, insulin is substantially administered via injections, and therefore, injections of insulin form a significant market for injectable medicine delivery technologies. Still, the arrival of inhalable insulin is anticipated to significantly impact the growth of this market as nasal medicine delivery is pain-free and largely patient biddable.

Regional Analysis

In 2023, the North American market for prefilled syringes held a 33% share. This region emphasizes the prevention of needlestick injuries among healthcare professionals, leading to a growing use of prefilled syringes equipped with needle guards. The CDC’s endorsement of prefilled syringes for vaccine administration—due to their effectiveness in preserving vaccine potency and saving time—further supports market expansion.

Europe leads the global prefilled syringes market, driven by a strong preference for these devices to minimize needle-related injuries. Government policies and the activities of major market players are promoting the adoption of single-use medical products, which is anticipated to accelerate market growth.

The Asia-Pacific market is poised for substantial growth, supported by numerous facilities approved by the FDA, TGA, and EMA. The region’s expanding economy, large and growing population, and rising prevalence of chronic conditions are expected to fuel this market’s development.

Top Manufactures in Prefilled Syringes Market

1. BD (Becton, Dickinson and Company)

  • Overview: BD is a global medical technology company headquartered in Franklin Lakes, New Jersey. It operates in three main segments: BD Medical, BD Life Sciences, and BD Interventional. BD is a significant player in the prefilled syringes market, offering a range of innovative products and technologies.
  • Investment: BD has invested heavily in expanding its manufacturing capabilities and R&D for prefilled syringes. In 2021, BD announced a $1.2 billion investment to enhance its global manufacturing footprint.
  • Product Launches: BD has introduced several advancements in prefilled syringe technology, such as the BD UltraSafe Plus™ and BD Neopak™. These innovations focus on improving safety and user experience.

2. Gerresheimer AG

  • Overview: Gerresheimer AG is a global leader in glass and plastic packaging for the pharmaceutical and healthcare industries. The company is headquartered in Düsseldorf, Germany, and is known for its high-quality prefilled syringe solutions.
  • Investment: Gerresheimer invested over €200 million in expanding its manufacturing capacities and technology for prefilled syringes in recent years.
  • Product Launches: The company has introduced several prefilled syringe products, including its Gx RTF® (Ready-to-Fill) syringes. These are designed to meet stringent pharmaceutical standards.

3. SCHOTT Pharma AG

  • Overview: SCHOTT Pharma, part of the SCHOTT Group, specializes in pharmaceutical packaging solutions, including prefilled syringes. The company is headquartered in Mainz, Germany, and is known for its innovative glass and polymer solutions.
  • Investment: SCHOTT Pharma has invested approximately €150 million in expanding its production capabilities and R&D for prefilled syringes.
  • Product Launches: Recent product launches include the SCHOTT TopPac™ prefillable syringe system and the SCHOTT Vials & Syringes portfolio, which focus on enhancing safety and performance.

4. Stevanato Group

  • Overview: Stevanato Group, headquartered in Piombino Dese, Italy, is a leading provider of drug delivery systems, including prefilled syringes. The company is renowned for its advanced glass and plastic packaging solutions.
  • Investment: Stevanato Group invested around $250 million in expanding its production facilities and R&D for prefilled syringes and other drug delivery systems in recent years.
  • Product Launches: The company has launched various products, including its Evolve™ prefilled syringes and EZ-fill® system, which offer enhanced efficiency and safety.

5. Nipro Corporation

  • Overview: Nipro Corporation, headquartered in Osaka, Japan, is a global healthcare company that manufactures a wide range of medical devices, including prefilled syringes. The company is known for its innovative solutions in drug delivery.
  • Investment: Nipro has invested significantly in expanding its prefilled syringe production capabilities and technology, with recent investments exceeding ¥20 billion.
  • Product Launches: Nipro’s notable product launches include the Unishield™ and Unifill™ prefilled syringe systems, designed to improve safety and efficiency.

6. Terumo Corporation

  • Overview: Terumo Corporation, headquartered in Tokyo, Japan, is a major player in the medical device industry. The company is known for its comprehensive range of prefilled syringes and other drug delivery systems.
  • Investment: Terumo has invested approximately ¥15 billion in enhancing its prefilled syringe production and technology over recent years.
  • Product Launches: Key product launches include the Terumo SurGuard™ and Terumo Pre-filled Syringe systems, which focus on improving safety and user-friendliness.

7. West Pharmaceutical Services, Inc.

  • Overview: West Pharmaceutical Services, Inc., headquartered in Exton, Pennsylvania, specializes in the development and manufacturing of drug delivery systems, including prefilled syringes. The company is known for its high-quality packaging solutions.
  • Investment: West Pharmaceutical Services has invested over $300 million in expanding its production capabilities and R&D for prefilled syringes in recent years.
  • Product Launches: Recent product launches include the West Xabri™ prefilled syringe and the SmartDose® platform, designed to enhance drug delivery and safety.

8. Fresenius Kabi

  • Overview: Fresenius Kabi, part of the Fresenius SE & Co. KGaA group, is headquartered in Bad Homburg, Germany, and is a global provider of healthcare products, including prefilled syringes. The company focuses on intravenous therapies and clinical nutrition.
  • Investment: Fresenius Kabi has invested around €100 million in developing new prefilled syringe technologies and expanding its manufacturing facilities.
  • Product Launches: Fresenius Kabi has introduced the FlexiSet® and Evipac® prefilled syringe systems, which are designed for enhanced drug delivery and safety.

9. Catalent, Inc.

  • Overview: Catalent, Inc., headquartered in Somerset, New Jersey, is a global leader in drug delivery and development solutions, including prefilled syringes. The company offers comprehensive solutions for pharmaceutical and biotechnology companies.
  • Investment: Catalent has invested over $200 million in expanding its prefilled syringe production and technology capabilities in recent years.
  • Product Launches: Notable product launches include Catalent’s EZ Fill® prefilled syringe system and the SmartDose® platform, aimed at improving drug delivery efficiency and safety.

10. Aptar Pharma

  • Overview: Aptar Pharma, part of AptarGroup, Inc., headquartered in Crystal Lake, Illinois, specializes in drug delivery systems, including prefilled syringes. The company is known for its innovative packaging solutions and drug delivery technologies.
  • Investment: Aptar Pharma has invested around $150 million in expanding its prefilled syringe production capabilities and developing new technologies.
  • Product Launches: Recent launches include the Aptar Pharma’s Unidose® and PharmaFlex® prefilled syringes, which focus on user convenience and safety.

Ask here for more customization study@ https://www.visionresearchreports.com/report/customization/37704

Recent Industry News

  • In May 2023, SCHOTT Pharma introduced a new line of prefillable syringes designed for medications that need to be stored at extremely low temperatures.
  • In May 2023, Fresenius Kabi expanded its Simplist prefilled syringe portfolio by adding a new 100 mcg per 2 mL dose of Fentanyl Citrate Injection.
  • In September 2022, Becton Dickinson and Company (BDX) launched a state-of-the-art glass prefillable syringe specifically engineered for vaccines. This advanced syringe features improved manufacturability, visual quality, contamination control, and overall integrity.
  • In May 2022, SCHOTT opened a new facility dedicated to the production of prefillable syringes using cutting-edge polymer materials.

Government Support in Prefilled Syringes Market 

Government support significantly influences the prefilled syringes market through regulatory, financial, and policy measures. Agencies such as the FDA, EMA, and TGA establish rigorous approval processes that ensure the safety and efficacy of prefilled syringes, fostering innovation and market growth. Streamlined regulations and clear guidelines not only enhance market confidence but also facilitate the introduction of advanced syringe designs, such as those with needle guards. Additionally, government funding and grants for research and development play a crucial role in advancing technology and reducing production costs, further driving market expansion.

Furthermore, healthcare policies and public health campaigns that promote the use of prefilled syringes contribute to market growth by increasing their adoption in clinical settings. Policies aimed at improving patient safety and reducing healthcare costs often support the use of single-use devices, which can lead to greater demand for prefilled syringes. Economic incentives, such as tax breaks for manufacturers, also help lower production costs, making these devices more accessible. Overall, government support not only stabilizes and stimulates the prefilled syringes market but also ensures broader implementation and integration into healthcare practices.

Read More@ Nanomedicine Market

Prefilled Syringes Market Segmentation:

By Type

  • Disposable
  • Reusable

By Material

  • Glass
  • Plastic

By Application

  • Vaccines & Immunizations
  • Anaphylaxis
  • Rheumatoid Arthritis
  • Diabetes
  • Autoimmune Diseases
  • Oncology
  • Others

By Distribution Channel

  • Hospitals
  • Mail Order Pharmacies
  • Ambulatory Surgery Centers

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Buy this Premium Research Report@ https://www.visionresearchreports.com/report/checkout/37704

You can place an order or ask any questions, please feel free to contact sales@visionresearchreports.com| +1 650-460-3308

Web: https://www.visionresearchreports.com/

Blog: https://www.novaoneadvisor.com/

Healthcare Insights

Healthcare Insights is a premier consulting firm specializing in market research and strategic insights. With a deep understanding of diverse industries, including healthcare, healthcare it, pharmaceuticals, life sciences and clinical trails, our team of experts provides actionable intelligence that drives business growth and innovation. Leveraging advanced analytical tools and methodologies, Healthcare Insights delivers comprehensive market analysis, trend forecasting, and competitive intelligence to help clients navigate complex market landscapes. Our commitment to excellence and accuracy ensures that our clients are equipped with the insights they need to make informed decisions and achieve a competitive edge in their respective markets.

View all posts by Healthcare Insights →