The rising prevalence of chronic and lifestyle-associated diseases, benefits of prefilled syringes over traditional vial and syringe packaging systems, and technological advancements in prefilled syringes are some of the major factors driving the growth of the prefilled syringes market. Due to the aforementioned factors, the industry is projected to generate $3,646.7 million revenue by 2030, advancing at a CAGR of 6.8% during the forecast period (2021–2030).
The COVID-19 pandemic has affected economies all around the world. Restrictions such as multiple lockdowns, affected import and export services, stoppage in the functioning of manufacturing facilities, and reduced workforces, hampered the operations of several industries. However, in many countries, operations have resumed at full capacity to manufacture drug delivery devices, including prefilled syringes. Furthermore, the pandemic has caused an unexpected boom in the pharmaceutical industry due to the shift in the focus on novel injectable drugs against the disease, which has impacted the market for prefilled syringes positively (except in the first and second quarters of 2020).
The prefilled syringes market is divided into glass-based prefilled syringes and plastic-based prefilled syringes based on material type. Of the two, the glass-based category generated the higher revenue in 2020. Glass prefilled syringes are most preferred among drug manufacturers as they prevent reactions between drug molecules and the syringe surface. This is one of the key factors helping in the growth of this category. However, the plastic-based category is expected to showcase the higher growth rate in the forecast period. This would mainly be due to the application of advanced polymers, such as polypropylene and crystal-clear polymer, which are biocompatible with other components of prefilled syringes, for their manufacturing.
The diabetes category generated the highest revenue in 2020 in the prefilled syringes industry, based on application, and it is expected to hold the largest market share, in terms of revenue, in the forecast period as well. Diabetes disbalances the blood glucose level in the human body due to the inadequate production of insulin and inability of the cells to respond properly to the insulin produced by the pancreas. Hence, to fulfill this insulin requirement, people suffering from diabetes require supplemental insulin, which is mostly taken via syringes.
Geographically, Europe was the largest contributor to the prefilled syringes market in 2020. This is mainly ascribed to the high prevalence of non-communicable diseases, such as diabetes, cancer, and cardiovascular diseases. The prevalence of such diseases is increasing in the region due to rampant tobacco and alcohol consumption, and obesity. Moreover, the geriatric population, which is increasing at a significant rate, and growing number of biosimilars being approved are creating a high demand for prefilled syringes in the region.
However, Asia-Pacific (APAC) is expected to be the fastest-growing market for prefilled syringes during the forecast period. This will be primarily due to the increasing healthcare expenditure in major Asian countries, rising aging population, and increasing prevalence of chronic diseases.
Players in the prefilled syringes market are involved in partnerships and collaborations to gain a significant position.
For instance, in October 2020, SCHOTT AG and Credence MedSystems announced plans to enter into a collaboration, under which SCHOTT would combine Credence’s Companion Technology with SCHOTT’s re-fillable syriQ glass and SCHOTT TOPPAC polymer syringe systems. This collaboration would enhance the portfolio of both the companies.
Major players operating in the global prefilled syringes market include Becton, Dickinson and Company, West Pharmaceutical Services Inc., Shandong Weigao Group Medical Polymer Company Limited, Fresenius Medical Care AG & Co. KGaA, Catalent Inc., Pfizer Inc., Gerresheimer AG, and Stevanato Group.