Published: April 2021 | Report Code: LS10287 | Available Format: PDF | Pages: 234
The global prefilled syringes market generated $1,914.1 million revenue in 2020, and it is expected to grow at a CAGR of 6.8% during the forecast period (2021–2030). The major factors responsible for the growth of the market include the increasing concerns associated with needlestick injuries, benefits of prefilled syringes over traditional vial and syringe packaging systems, and increasing demand for point-of-care administration. Furthermore, the rising prevalence of chronic and lifestyle-associated diseases is propelling the growth of the prefilled syringes industry.
The COVID-19 pandemic forced governments across the world to adopt complete and partial lockdowns, which affected the import, export, and distribution of such products. Additionally, the major manufacturing countries in Europe, the Americas, and Asia announced a complete closure of borders to contain the virus. Furthermore, the pandemic caused an unexpected boom in the pharmaceutical industry due to the shift in the focus toward advanced drug delivery devices for the treatment of the disease, which has impacted the market for prefilled syringes positively (except the first and second quarters of 2020).
The market for prefilled syringes is divided into single-chamber, dual-chamber, and customized, based on design. Among these, single-chamber prefilled syringes held the largest share in the global market in 2020. The key factors responsible for the dominance of this category are the low raw material requirement, advantages of such prefilled syringes over traditional vials, and availability of broad range of such syringes across the globe.
The diabetes category generated the highest revenue in 2020 in the prefilled syringes market, based on application. Furthermore, the diabetes category is expected to showcase the fastest growth in the forecast period. This can be mainly attributed to the increasing prevalence of diabetes across the world. According to the World Health Organization (WHO), between 2000 and 2016, there was a 5% increase in premature mortality rate from diabetes. Additionally, in 2019, diabetes was the direct cause of 1.5 million deaths.
Geographically, Europe was the largest contributor to the prefilled syringes market in 2020. This was mainly due to the presence of key market players, increasing awareness about safe injectable technologies, high healthcare expenditure, and rising prevalence of chronic and lifestyle-associated diseases in the region. According to Our World in Data, cardiovascular diseases and cancer were the top two causes of death in 2017.
Injectable formulations are becoming more complex, and they need stringent quality control to meet the requirements of customers. Manufacturers have started to focus on the designing and production of prefilled syringes that can be used by individuals themselves. Thus, the focus of manufacturers is shifting toward self-administration dose syringes, rather than syringes used by hospitals or other healthcare providers, thus, further positively impacting the prefilled syringes market.
Therapeutic agents and vaccines are some of the injectable pharmaceutical products that are experiencing an increase in demand, thus leading to the growth of the prefilled syringes market. According to the WHO, around 16 billion injections, including 3% for immunization, 95% for curative care, and 2% for contraceptives and blood transfusion procedures, are administered every year. The use of prefilled syringes has some benefits over multi-dose vials, such as a reduction in drug wastage and simpler drug administration.
|Base Year (2020) Market Size||$1,914.1 Million|
|Market Size Forecast in 2030||$3,646.7 Million|
|Forecast Period CAGR||6.8%|
|Report Coverage||Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Regional and Country Breakdown; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis; Company Profiling|
|Market Size by Segments||By Type; By Material Type; By Design; By Application; By Region|
|Market Players||Becton, Dickinson and Company, Eli Lilly and Company, Amgen Inc., Baxter International Inc, Bayer AG, Pfizer Inc., Bristol-Myers Squibb Company, F. Hoffman-La Roche AG, Novartis AG, AbbVie Inc.|
|Secondary Sources and References (Partial List)||American Cancer Society; American Diabetes Association; Canada Diabetes Association; Cancer Organization Soutien; Center for Medicare & Medicaid Services; Centers for Disease Control and Prevention; China National Drug Administration; Chinese State Food and Drug Administration; Diabetes Education Society of South Africa; European Medicines Agency; International Agency for Research on Cancer|
The global prefilled syringes market is consolidated in nature. In recent years, the players in the prefilled syringes industry have been involved in various partnerships and collaborations in order to attain a significant position. For instance:
The global prefilled syringes market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Type
Based on Material Type
Based on Design
Based on Application
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