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Prefilled Syringes Market to Exhibit a CAGR of 10.5% and Hit USD 10.57 Billion by 2026; Amplified Production Capacities of Manufacturers During Coronavirus to Accelerate Sales, states Fortune Business Insights™

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Pune, Oct. 29, 2020 (GLOBE NEWSWIRE) — The global prefilled syringes market size is expected to reach USD 10.57 billion by 2027, exhibiting a CAGR of 10.5% during the forecast period. The rising prevalence of diabetes can be a vital factor in favouring the growth of the market during the forecast period. Europe is expected to witness a high growth rate during the forecast period owing to the increasing number of patients using biologics as treatment options for chronic diseases. The increasing adoption of prefilled syringes as self-injecting drug devices will further support the growth of the market in Europe. Key Prominent Players Covered in the Prefilled Syringes Market Research Report Are BD, Gerresheimer AG, SCHOTT AG, West Pharmaceutical Services Inc., Helvoet Rubber & Plastic Technologies BV, Nipro Pharma Packaging International, AptarGroup, Inc., Terumo Corporation and other key market players.KEY INDUSTRY DEVELOPMENTS:October 2019: BD (Becton, Dickinson, and Company) launched the BD Intevia 1mL two-step disposable autoinjector, a robust platform device combining autoinjector and pre-fillable syringe in one integrated system.January 2019: SCHOTT AG, a pharmaceutical packaging company, launched customizable prefilled glass syringes in India. The company’ssyriQ BioPure is a highly customizable glass prefilled staked-needle syringe (PFS) specifically designed to keep sensitive drugs stable over shelf life and shorten time to market and making administration more convenient for patients.
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Rising Cases of Chronic Diseases to Augment GrowthThe growing incidence of cancer and other non-communicable diseases is expected to spur demand for biological drugs, which, in turn, will foster the growth of the market. According to the National Cancer Institute, an estimated 1,735,530 new cancer cases were diagnosed in the U.S. in 2018. The number is expected to reach 23.6 million by 2030, thus, boosting the need for biologics.The rising shift towards prefilled syringes for the administration of biologics and biosimilars will have an excellent impact on the market during the forecast period. Similarly, the application of biologics in numerous target diseases with limited treatment options such as cancer, autoimmune diseases, and other non-communicable diseases will spur the demand of the market in the forthcoming years.The coronavirus occurrence has brought the world to an unexpected stop. We understand that this health emergency has adversely impacted various sectors across the globe. Rising support from governments and several companies can help in the fight against this highly infectious virus. There are some industries that are struggling and some are thriving. More or less, nearly every sector is estimated to be impacted by this pandemic.
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Accumulative Production of Prefilled Syringes During CoronavirusThe pharmaceutical packaging industry has witnessed a substantial effect due to the COVID-19 outbreak. The increasing clinical trials for coronavirus vaccines have resulted in the high production of other related drugs.The shift from conventional syringes to prefilled syringes owing to the reduced risks of needle-stick injuries and infection will boost its production during coronavirus.  The US government has signed a deal of $138 million with the makers of the syringe in order to facilitate the production of 100 million prefilled syringes by the end of 2020 and more than 500 million in 2021.
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Increasing Product Launches to Support Development in EuropeEurope is expected to witness a high growth rate during the forecast period owing to the increasing number of patients using biologics as treatment options for chronic diseases. The increasing adoption of prefilled syringes as self-injecting drug devices will further support the growth of the market in Europe.The presence of major players will boost growth in the region. Additionally, the growing introduction of a new prefilled syringe by major players will favor growth in the region. For instance, in October 2018, Fresenius Kabi announced the launch of a new prefilled syringe of palonosetron hydrochloride. North America is expected to rise tremendously during the forecast period owing to the surge in chronic diseases such as diabetes and rheumatoid arthritis.The strong distribution networks of eminent players will boost growth in North America. The market in Asia Pacific is likely to observe a significant growth rate owing to the increasing prevalence of chronic diseases and a rapidly growing patient population.
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Lists of Main Companies in the Prefilled Syringes Market:BD (New Jersey, United States)Gerresheimer AG (Dusseldorf, Germany)SCHOTT AG (Mainz, Germany)West Pharmaceutical Services Inc. (Pennsylvania, United States)Helvoet Rubber & Plastic Technologies BV (Netherlands)Nipro Pharma Packaging International (Mechelen, Belgium)AptarGroup, Inc. (Illinois, United States)Terumo Corporation (Tokyo, Japan)Other Prominent Players
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Global Prefilled Syringes Market Segmentations:By Material•              Glass•              PlasticBy Closing system•              Staked Needle System•              Luer Cone System•              Luer Lock Form SystemBy Product•              Complete Syringe Set•              Components & AccessoriesBy Design•              Double-chamber•              Multiple-chamber•              Single-chamberBy End-User•              Pharmaceutical & Biotechnology Companies•              Contract Research & Manufacturing Organizations•              OthersBy Geography•              North America (the U.S. and Canada)•              Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and the Rest of Europe)•              Asia Pacific (Japan, China, India, Australia, Southeast Asia, and the Rest of Asia Pacific)•              Latin America (Brazil, Mexico, and the Rest of Latin America)•              Middle East & Africa (South Africa, GCC, and the Rest of the Middle East & Africa)
SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companiesDetails in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facilityNumber of procedures and average price of proceduresReplacement rate and pricing of capital equipmentMarket dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunitiesMarket & technological trends, new product developments, product pipeline.
Have a Look at Related Reports:Injectable Drug Delivery Market Share and Global Trend By Device Type (Conventional Injectable, Pre-filled Syringes, Auto-injectors, Pen-injectors, Others), By Application (Autoimmune Disorders, Diabetes, Pain Management, Aesthetic Treatments, Others), By Route of Administration (Subcutaneous, Intravenous, Intramuscular, Others), By End-User (Hospitals, Home Care Settings, Clinics, Others) and Geography Forecast till 2026Diabetes Treatment Devices Market Share and Global Trend By Product (Insulin Pens, Insulin Pumps, Insulin Jet Injectors, Insulin Syringes, Others), By Distribution Channel (Institutional Sales (Hospitals, Clinics), Retail Sales (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies)) & Geography Forecast till 2026U.S. Biosimilars Market Share and Global Trend By Drug Class (Filgrastim & Pegfilgrastim, Monoclonal Antibodies, Others), By Disease Indication (Cancer, Autoimmune Diseases, Others) By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy) and Geography Forecast till 2026Human Insulin Market Share & Industry Analysis, By Type (Analogue Insulin, Traditional Human Insulin), By Diabetes Type (Type 1, Type 2), By Distribution Channel (Retail Pharmacy, Hospital Pharmacy, Online Pharmacy), and Regional Forecast, 2019-2026Autotransfusion Devices Market Share & Industry Analysis, By Product Type (Autotransfusion Systems and Consumables & Accessories) By Application (Cardiovascular Surgeries, Orthopedic Surgeries, Neurological Surgeries, Obstetrics & Gynecological Surgeries, and Others) By End User (Hospitals and Specialty Clinics & Others) and Regional Forecast, 2019-2026
About Us:Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
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