Prefilled Syringes Market Scope Report

Global Prefilled Syringes Market Highlights Over 2023 - 2033

The global prefilled syringes market is estimated to garner a revenue of about USD 16100 Million by the end of 2033 by growing at a CAGR of ~12% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of around USD 5900 Million in the year 2022. The market is primarily driven by rising number of people infected by HIV or hepatitis. According to the Centers for Disease Control and Prevention, globally 296 million people are suffering with Hepatitis-B. and 58 million people have Hepatitis-C.

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The rising risk of getting infected with needles is growing the demand of prefilled syringes. The use of the used syringes could be an accident or an act of crime. In Pakistan, a doctor used HIV-infected needles on around 900 healthy children under 12, they are now added in the list of confirmed cases of HIV. Furthermore, rising cases of chronic disease such as diabetes, cardiovascular problems, arthritis, and others are likely to fuel the growth of prefilled syringes market. By the statistics of the World Health Organization, nearly 18 million people died of cardiovascular disease.

Global Prefilled Syringes Market: Growth Drivers and Challenges

Growth Drivers

• Increasing Number of HIV and Hepatitis-B Cases

The self-filling needles uses with HIV and Hepatitis patients have been misused many times. Therefore, prefilled syringes are the best solution for using on the patients suffering with HIV and Hepatitis. In 2020, globally there were around 38 million people living with HIV.

• Rising Investment in Prefilled Syringes

Growing demand of prefilled syringes and need to increase its production had compelled companies to invest more capital in the prefilled syringes. For instance, in 2020, BD (Becton, Dickinson company) announced the investment of nearly USD 1 billion in the manufacturing of prefilled syringes.

• Growing Popularity of Biologic Drugs

Owing to growing popularity, biologics drug has entered into the treatment of cancer, asthma, allergy and others. The higher demand of biologic drugs has increased its sales. Biologics has overshadowed the small molecule sales and by 2027 biol0gics drugs is expected to have sales of worth USD 120 billion more than small molecules.

• Rising Cases of Infection Caused by Needles

Many doctors use pre used needles to save their stock, it itself counted as crime, moreover, it might severely harm a healthy person. In order to prevent such crimes or accidents, prefilled syringes are the best solution. Every year, nearly 385,000 health care workers accidently stick needles in them by accident.

• Surge in COVID-19 Vaccination Drive

The increased drive of vaccination process has surged the demand of syringes and needles all across the world. According to the Word in Data, every day 3.87 million vaccination is carried out worldwide and 12.69 doses has been administered.

Challenges

• Impurity and Leakage in the Syringes to Restrain the Demand of Prefilled Syringes

• Strict Regulations Associated with the Manufacturing

• Risk of Artery Obstruction and Blood Clotting while Injecting Air

Low quality of material used for making the syringes, lousy transportation might result in damages syringes and leak of the contained drug. The damages such as bent needle, punctured rubber seal or plunger, and broken glass syringes are likely to hinder the global prefilled syringes market growth.

The global prefilled syringes market is segmented and analyzed for demand and supply by application into diabetes, multiple sclerosis, anaphylaxis, cancer and others. The diabetes segment is anticipated to hold the largest market size by the end of 2033. Higher demand of insulin treatment is expected to drive the growth of the diabetes segment. Globally around 150-200 million people are in the requirement of insulin therapy in 2018. Increased burden of diabetes on the world is to grow the diabetes segment. According to the WHO, 422 million people are living with diabetes worldwide.

Global Prefilled Syringes Market Regional Synopsis

Regionally, the global prefilled syringes market is studied into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Amongst these markets, the market in Europe is projected to hold the largest market share by the end of 2033. The growth is expected on the account of rising investment in the injectable pharmaceuticals. For instance, in 2021, Baxter International, Inc., invested about USD 100 million for expanding the manufacturing of sterile fill in Germany.  Increased vaccination drive in the region is to propel the growth of the market in Europe. In Russia, as of August 2022, about 171 million COVID-19 vaccine doses has been dispensed.

Market Segmentation

Our in-depth analysis of the global prefilled syringes market includes the following segments:

Key Companies Dominating the Global Prefilled Syringes Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global prefilled syringes market that are included in our report are Abbott, Bayer Pharmaceuticals, Baxter BioPharma Solutions , BG (Becton, Dickinson, and Company), Gerresheimer AG, Medtronic , Nipro Pharma Corporation, Terumo Medical Corporation, Vetter Pharma International GmbH, West Pharmaceutical Services, Inc., and others.

Global Prefilled Syringes Market: Latest Developments

• April, 2021: Nipro Pharma Corporation announced that the Nipro D2F prefilled syringes are compatible with Schreiner MediPharm Needle-Trap. This new finding is certainly to elaborate Nipro’s product portfolio.

• February, 2022: Abbott announced the partnership with primary healthy-tech companies involving, Sugar.fit, healthifyme, Fitterfly, BeatO, PharmEasy, GOQii, 1 MG, and Zyla Health. By the collaboration, Abbott aim to deploy glucose monitoring solution to 8 million people with diabetes.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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