The Global Prefilled Syringes Market was worth USD 3.6 billion in 2016 and estimated to grow at a CAGR of 10.7%, to reach USD 6.1 billion by 2021.
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These syringes are very effective in self-administration of drugs and the demand for these syringes has been rising over the past few years.
This format of parenteral drug delivery system is being adopted by growing number of healthcare facilities.
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A “prefilled syringe” is a syringe filled with a fixed quantity of a therapeutic drug.
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It is more accurate, affordable, convenient, sterile, safe and accessible as compared to traditional drug delivery methods in which vials were used for storage of pharmaceutical drugs. These vials were prone to dosing errors and contamination while prefilled syringes have no such drawbacks.
The growth of the Global Prefilled Syringes Market is mainly driven by factors such as increasing prevalence of chronic diseases, steadily rising patient population base and its superior performance in drug delivery at an affordable price. Further, initiatives taken by major players in the market in setting up production facilities in both nascent and mature markets are also improving its growth prospects.
Lately, there has been a few product recalls which could dampen the sales and could hinder the market growth. In addition, the low market presence of prefilled syringes with integrated safety features could result in loss of confidence and is another restraint to this market.
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The Global Prefilled Syringes market is segmented into five broad categories: materials, type, design, application and distribution channel. The material is further sub-segmented into glass prefilled syringes and plastic prefilled syringes.
By type, the market is divided into conventional prefilled syringes and safety prefilled syringes. The design is further segmented into single-chamber, dual-chamber, and customized prefilled syringes.
Vaccines and monoclonal antibodies are major categories under application. On the basis of the distribution channel, the prefilled syringes market is segmented into hospitals, ambulatory surgical centers, and mail order pharmacies.
On the basis of geography, the global market is analyzed under various regions namely North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa. Europe in 2016 commanded a substantial share of the market.
Asia-Pacific, however, is expected to showcase the highest CAGR in the forecast period.
This market is extremely disjointed with numerous big and developing players operating in the business. The major companies dominating the global Prefilled Syringes market are Becton, Dickinson and Company (U.S.), Gerresheimer AG (Germany), SCHOTT AG (Germany), West Pharmaceutical Services, Inc.
(U.S.), Ompi (Italy), Catalent, Inc. (U.S.), Weigao Group (China), Vetter Pharma International GmbH (Germany), Nipro Corporation (Japan), and MedPro Inc.
Market Segmentation :
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Scope of the Report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
- Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
- Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
- A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
- Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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