The size of the North America Prefilled Syringes Market will be valued at USD 1.68 billion in 2023. It is estimated to grow at a CAGR of 5.51%, reaching USD 2.20 billion by 2028 during the forecast period.
The major factor that boosts the growth of the North America Prefilled syringes market is the increasing life span of the drugs. Furthermore, it is a highly convenient method for injecting drugs, and prefilled syringes reduce the wastage of drugs. In addition, other factors, such as more accessible and safer injection methods for both patient and doctor, as the patient will receive the right amount of dosage, there would not be any side effects. Pharmaceutical companies can benefit from adopting prefilled syringes due to minimal overfill in these syringes, increasing applications of prefilled syringes integrated with auto-injection systems, and other popular devices expected to catalyze the growth of prefilled syringes in North America.
The factors resisting the growth of the North America Prefilled syringes market are drugs interacting with the syringes, which may cause instability, and manufacturers have to take care to avoid interaction between the drugs and packaging materials. In addition, stringent regulations and altering policies in various countries will likely restrain the growth of the prefilled syringe market in North America. The availability of alternative drug delivery methods is also concerning the stakeholders and is expected to restrict the growth of the prefilled syringes market in North America. Increasing manufacturing costs is also expected to slow down the market's growth rate during the forecast period. Other factors that challenge the market's growth are the minimal adoption rate of prefilled syringes with safety systems, increasing concerns about needle stick injuries, remembrance of material, and increasing focus of research organizations to develop low-cost and safe alternative drug delivery methods.
Increasing focus on initiatives from private and public organizations for an innovative product that can be integrated with devices is expected to offer growth opportunities for the market. Furthermore, the rising rate of chronic diseases and their prevalence for effective treatment procedures are likely to boost the demand in the North America Prefilled Syringes Market and increase growth opportunities for the key players in the market. In addition, the increasing popularity of non-invasive drug delivery systems and methods among people is anticipated to create several growth opportunities in North America's prefilled syringes market.
This research report on the North American prefilled syringes market has been segmented and sub-segmented into the following categories:
By Distribution Channel:
Regionally, the North American prefilled syringes market is expected to show rapid growth rates for extended periods because these syringes have been readily adopted in this region.
The United States prefilled syringes market is forecasted to account for a significant share of the North American market from 2023 to 2028. It is expected to contribute the largest share to this regional market during the forecast period due to its high prevalence of chronic diseases and high adoption of glass prefilled syringes. The Canadian prefilled syringe market is another major share contributor after the US and is expected to witness growth at the highest CAGR during the forecast period owing to the factors such as high expenditures on injectable drugs, the high adoption rate of prefilled syringes, increasing need for patient safety. In other North American countries, the market is expected to grow constantly over the forecast period.
KEY MARKET PLAYERS:
A few of the notable market participants operating in the North American Prefilled Syringes Market profiled in this report are Becton Dickinson and Company, Gerresheimer AG, SCHOTT AG, West Pharmaceutical Services, Inc., Ompi, Catalent, Inc., Weigao Group, Vetter Pharma International GmbH, Nipro Corporation & MedPro Inc.
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