Prefilled Syringes Market Size Expected to Reach USD 15.20 billion, exhibiting a CAGR of 10.6% by 2029
As per the report by Fortune Business Insights, the global Prefilled Syringes Market size is projected to reach USD 15.20 billion in 2029, at a CAGR of 10.6 % during the forecast period, 2022-2029
Pune, India, April 19, 2023 (GLOBE NEWSWIRE) — The global Prefilled Syringes Market size was USD 6.60 billion in 2021. The market is expected to grow from USD 7.51 billion in 2022 to USD 15.20 billion by 2029, exhibiting a CAGR of 10.6 % during the forecast period.
Industry Development:
- Becton, Dickinson and Company partnered with Aptar Pharma and launched BD SCF PremiumCoat Plunger Stopperade to support biologics injection with pre-filled syringe.
- Cumberland Pharmaceuticals launched RediTrex, a methotrexate prefilled syringe.
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Report Scope
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 10.6% |
| 2029 Value Projection | USD 15.20 billion |
| Base Year | 2021 |
| Market Size in 2021 | USD 6.60 billion |
| Historical Data | 2018-2020 |
| No. of Pages | 188 |
Key Takeaways from the Prefilled Syringes Market:
- The glass segment held the largest market share in prefilled syringes in 2020.
- The market is segmented into complete syringe sets and components & accessories based on products.
- Europe was the leading region in the global market in 2021, with a revenue of USD 2.66 billion.
Driving factor:
The demand for biological drugs is increasing worldwide, and innovations in prefilled products and injectable delivery systems are expected to drive the growth of the prefilled syringes market. Additionally, the growing incidence of autoimmune diseases, cancer, and other chronic conditions is expected to fuel the demand for biological drugs and stimulate market growth.
The increasing adoption of prefilled syringes for self-administration of parenteral drugs is expected to be a significant driver of market growth in the near future. The ease and convenience of the administration process offer numerous advantages that are likely to increase the demand for the product in the years ahead.
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Segmentation:
The market is divided into several segments based on various factors. The materials segment is bifurcated into plastic and glass. The closing system segment is trifurcated into a luer lock form system, luer cone system, and staked needle system. The product segment is divided into components & accessories and a complete syringe set. The design segment is segmented into multiple chambers, double-chamber, and single chambers. The end-user segment is fragmented into contract research & manufacturing organizations, pharmaceutical & biotechnology companies, and others. Geographically, the market is classified into the Middle East & Africa, Latin America, Europe, Asia Pacific, and North America.
Regional insights:
- The dominant market share in the global prefilled syringes market is projected to be held by Europe. The increasing use of biologics by a growing population of patients with chronic diseases is expected to drive market growth in the region. Additionally, the presence of key players in the region is expected to stimulate market growth through product development.
- North America is expected to rank second in the global market share. The increasing number of patients suffering from chronic diseases such as rheumatoid arthritis and diabetes is expected to drive demand for prefilled syringes and foster market growth.
- Swift growth is expected in the Asia Pacific region due to the rising incidence of chronic diseases. The expanding patient population and growing use of prefilled syringes are expected to support market growth in the Asia Pacific.
- The Middle East & Africa and Latin America are predicted to exhibit slow growth due to low product penetration and awareness.
Competitive Landscape
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The Report Lists the Key Companies in the Prefilled Syringes Market:
- BD (U.S.)
- Gerresheimer AG (Germany)
- SCHOTT AG (Germany)
- West Pharmaceutical Services Inc. (U.S.)
- Helvoet Rubber & Plastic Technologies BV (Netherlands)
- Nipro PharmaPackaging International (Belgium)
- AptarGroup, Inc. (U.S.)
- Terumo Corporation (Japan)
Some major points from Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Regulatory Scenario by Key Countries/Key Region
- Overview of Secondary Prefilled Containers such as Auto-injectors, Pens, etc.
- Prefilled Syringes Key Market Trends
- Overview of Contract Research and Manufacturing Service Providers for Prefilled Syringes
- Key Industry Developments (Mergers, Acquisitions, Strategic Partnerships, Collaborations, etc.)
- Impact of COVID-19 on Prefilled Syringes Market
- Global Prefilled Syringes Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Material
- Glass
- Plastic
- Market Analysis, Insights and Forecast – By Closing System
- Staked Needle System
- Luer Cone System
- Luer Lock Form System
- Market Analysis, Insights and Forecast – By Product
- Complete Syringe Set
- Components & Accessories (Backstops, Plunger Stoppers, and Plunger Rods)
- Market Analysis, Insights and Forecast – By Design
- Single-chamber
- Double-chamber
- Multiple-chamber
- Market Analysis, Insights and Forecast – By End User
- Pharmaceutical & Biotechnology Companies
- Contract Research & Manufacturing Organizations
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Prefilled Syringes Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Analysis – By Material
- Glass
- Plastic
- Market Analysis – By Closing System
- Staked Needle System
- Luer Cone System
- Luer Lock Form System
- Market Analysis – By Product
- Complete Syringe Set
- Components & Accessories (Backstops, Plunger Stoppers, and Plunger Rods)
- Market Analysis – By Design
- Single-chamber
- Double-chamber
- Multiple Chamber
- Market Analysis, Insights and Forecast – By End User
- Pharmaceutical & Biotechnology Companies
- Contract Research & Manufacturing Organizations
- Others
- Market Analysis – By Country
- U.S.
- By Product
- Canada
- By Product
- U.S.
TOC Continued…
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