The size of the Prefilled Syringes Market in the Asia Pacific is estimated to be growing at a CAGR of 7.95% from 2023 to 2028. The market size is predicted to be USD 1.09 billion by 2028 from USD 0.74 billion in 2023. APAC is presently dominating the global prefilled syringe market due to rising chronic diseases and the increasing aged population.
The prefilled syringes market in the Asia Pacific is rising due to the advanced development of in-home healthcare and the benefits of using a traditional prefilled syringe globally. Day-by-day use of injectable dosage forms is increasing market growth due to its rapid action. Also, increasing demand for self-administrated and self-injection for higher bioavailability is driving the prefilled syringe market. RIn addition, the rising aged population and an increasing number of people with diabetes are fuelling the market growth.
However, several new drug delivery methods have come up in the market, and stringent government regulations hamper the market's growth.
This research report on the APAC prefilled syringes market has been segmented and sub-segmented into the following categories:
By Distribution Channel:
Regionally, the Asia Pacific is one of the most revenue-generating markets for the growth of the prefilled syringes market. The main reason for the highest growth rate exhibited by Asia-Pacific in the forecast is that this market is at a nascent stage and is ripe for investment with a massive potential for growth. Japan accounts for the majority share both in terms of volume and revenue.
The Indian prefilled syringes market is one of the most lucrative regional markets in the APAC region and is predicted to do well during the forecast period. India has many medical devices manufacturing companies that nearly imported material which is almost 75 % of total sales. In that, 60 % of the market is occupied by syringes. In 2022, Dr. Reddy introduced a new single-dose prefilled syringe after US food and drug administration approval.
The Chinese prefilled syringes market had the most significant share in the APAC market in 2023 and is estimated to register healthy CAGR during the forecast period. According to WHO, the number of Type 2 diabetes patients in China has doubled from the last two decades, and currently, 110 million people having diabetes in China, according to WHO. US food and drug administration approved Enbrel prefilled syringe in China to treat spondylitis.
The Prefilled syringes market in Japan is expected to account for a substantial share in the APAC market during the forecast period. An increasing aged population in Japan and growing demand for double chamber prefilled syringes in the market are leveling up the growth of prefilled syringe market. The Parenteral drug association (PDA) Japan has initiated syringe self-administration to help biopharma and biotech companies for clinical trials and their basic needs, driving the Japanese prefilled syringe market.
The South Korean prefilled syringes market is considered one of the hotspots in the APAC region and is forecasted to register a healthy CAGR from 2023 to 2028. The development in the healthcare sector and growing demand for advanced prefilled syringes are driving the South Korea prefilled syringe market. The SK bioscience launched a new advanced Shingles vaccine in a prefilled syringe that provides water for injection to reduce steps of the conventional vial formulation.
KEY MARKET PARTICIPANTS:
A few prominent companies operating in the APAC Prefilled Syringes Market profiled in this report are Becton Dickinson and Company, Gerresheimer AG, SCHOTT AG, West Pharmaceutical Services, Ompi, Catalent, Inc., Weigao Group, Vetter Pharma International GmbH, Nipro Corporation & MedPro Inc.
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