Prefilled Syringes Market

Prefilled Syringes Market Size (2022 to 2027)

As per our report, the global prefilled syringes market size is estimated to be USD 4.42 billion in 2022 and is expected to grow at a CAGR of 10.7% to reach USD 7.34 billion by 2027.

Prefilled Syringes Market Share Insights:

• Based on material, the glass segment led the market and held 54.1% of the global market share in 2021.
• Based on the distribution channel, the hospital segment captured 51.2% of the worldwide market share in 2021.
• Europe was the largest regional segment worldwide in 2021 and accounted for 40.2% of the global market share.
• North America held a considerable share of the global market in 2021 and is anticipated to be worth USD 2.1 billion by 2027.
• APAC had a substantial share of the worldwide market in 2021 and is expected to grow at a CAGR of 7.95% from 2022 to 2027.

Impact of COVID-19 on the global prefilled syringes market:

The COVID-19 impact has favored the prefilled syringes market growth. The novel coronavirus's impact, especially on pharmaceutical packaging, is projected to be more striking because of the production of vaccines for the coronavirus. There is a surge in demand for prefilled syringes over other needles to minimize the risk of needlestick injuries. Hence, the manufacturers are ready to increase production efficiency, intending to incline the production of the COVID-19 vaccine. For instance, the United States government agreed to $138 million with the manufacturers to escalate the production of 100 million more prefilled syringes for the Coronavirus vaccines by the end of 2020 and more than 500 million by 2021. An escalation in clinical trials for coronaviruses has shown an outcome in the large production of different drugs. Considering the reducing impact of COVID-19 impact and the uplifting of the restrictions imposed, the global market for prefilled syringes market is anticipated to register a healthy CAGR during the forecast period.

MARKET DRIVERS:

The increased incidence of chronic diseases such as diabetes, increased demand for self-medication, and the growing aging population worldwide primarily drive the global prefilled syringes market growth.

Most people in the world have diabetes, one of the major chronic diseases worldwide. According to the statistics published by the IDF Diabetes Atlas 2022 Reports, 537 million people aged between 20 to 79 years had diabetes worldwide in 2021, and 6.7 million people died due to diabetes in 2021. People suffering from a high level of glucose use insulin injections on their own or done by healthcare providers. Most adults and older people cannot go to the hospital or clinic for insulin injections due to their busy schedules or age. These people use prefilled syringes for insulin intake by injection. These syringes are stored in the refrigerator for daily usage. Due to a lack of correct medication on time so, many people are prone to death. Anyone uses these prefilled syringes to take their medication alone without anyone's health. Healthcare professionals do these pre-loaded syringes according to the dosage of a particular person they use.

Many patients affected by chronic diseases benefit from prefilled syringes as there is a need for continuous medication for chronic diseases. The total availability and increasing use of single-cavity prefilled syringes are key factors driving the growth of the global prefilled syringes market. Furthermore, the healthcare industry has witnessed chronic diseases such as cardiovascular, cancer, respiratory, and diabetes due to lifestyle changes and the lack of preventive care opportunities, especially in developing countries. Therefore, it is merely to boost the prefilled syringes market growth. The governments have started focusing on prefilled syringes for palliative benefits. These prefilled syringes are mainly used for people suffering from chronic diseases and are under palliative care. Increasing ulcerative colitis (UC) disorder also drives the use of prefilled syringes. It is a chronic disease that affects bowel disorders through continuous inflammation. The healthcare industries have witnessed the prevalence of chronic diseases such as diabetes, cardiovascular and cancer in developing countries. Therefore, it has boosted the market demand for prefilled syringes. The devices like pen injection are one of the significant selling products in prefilled syringes.

In addition, the development of technologically advanced prefilled syringes and the growing demand for self-injected devices propel the prefilled syringes market growth. Increasing production of prefilled syringes by several pharmaceutical companies will also drive the market in the coming years. Factors such as minimizing drug waste, increasing product life span, convenient drug administration, using prefilled syringes in hospitals and homes, and reducing healthcare provider need drive the prefilled syringe market every time. It also reduces the toxin that occurs when drawing the medication from the vials, and it also reduces dosage errors.

MARKET RESTRAINTS:

However, certain complexities associated, such as drug reaction with primary packaging, may affect the prefilled syringes market growth to a certain extent. The response to plastic also affects the quality of the drugs, hampering the market growth. Using glass prefilled syringes also restrained the market growth. These Glass prefilled syringes may get broken during transportation or slip from hand. A lack of awareness about these prefilled syringes also hinders market growth. In low-developed countries, prefilled syringes use is low due to a lack of awareness and fear of using their own. Limited time for storing these prefilled syringes based on the disease type also hampers the market growth.

REPORT COVERAGE:

This research report on the global prefilled syringes market has been segmented and sub-segmented based on the material, type, design, application, distribution channel, and region.

Prefilled Syringes Market - By Material:

• Glass Prefilled Syringes
• Plastic Prefilled Syringes

Based on the material, the glass prefilled syringes segment is estimated to account for the most significant global market share during the forecast period. An increasing number of people suffering from chronic diseases is a significant factor for this segment to grow. Glass syringes are approved by the FDA and follow the International Organization for Standardization Standard. Glass's protective properties prevent oxygen and water vapor from the combine with drug compounds. Glass is mainly used for prefilled syringes which drives the segment's growth. In addition, increasing support from government organizations is propelling segmental growth.

The plastic market segment is expected to grow at a CAGR of more than 12% over the forecast period. The plastic material is designed with a break and is flexible compared to Glass. As a result, the polymers exhibit minimal drug absorption, reduced surface reactivity, and excellent compatibility with pH change. In addition, manufacturers have developed cyclic olefinic copolymers, which offer high heat resistance and better visibility. Such advantages associated with plastic materials result in the segment's growth.

Prefilled Syringes Market - By Type:

• Conventional
• Safety

Based on the type, the safety prefilled syringes segment is estimated to showcase a promising CAGR over the period. The growing disposable income and the rising prevalence of innovative products in healthcare are fuelling segmental growth. As a result, the safety prefilled syringes segment is predicted to have the fastest growth rate in the forecast period.

Prefilled Syringes Market - By Design:

• Single-Chamber
• Dual-Chamber

Based on the design, in 2021, the single chamber segment held the largest share of the worldwide market in 2021 and is expected to holing dominating position during the forecast period. Single-chamber prefilled syringes protect patients and clinicians from needle stick injuries and augment segmental growth. In addition, the simple storage and easy usage of a single chamber design is another notable factor contributing to the segment's growth.

The dual-chamber segment is predicted to grow at 12% CAGR during the forecast period. Dual-chamber design allows solvents and ingredients to be separately filled. As the dual chamber design gives excellent medication storage and delivery, its demand will rise in the coming years.

Prefilled Syringes Market - By Application:

• Vaccines
• Monoclonal Antibodies

Based on the application, the monoclonal antibodies segment is estimated to occupy a major global market share during the forecast period. Nowadays, monoclonal antibody (mAb) therapies are primarily used to treat various diseases like cancer and autoimmune disorders. Therefore, most mAb drug products are sold as prefilled syringes of different dosages.

Prefilled Syringes Market - By Distribution Channel:

• Hospitals
• Ambulatory Surgical Centers
• Mail-Order Pharmacies

The hospital segment accounted for the largest worldwide market share in 2021 based on the distribution channel. Factors such as the rising patient population suffering from chronic diseases admitted in the hospitals and increasing health disorders requiring long-term treatment increase are fuelling the segmental growth. In addition, growing cancer and diabetic diseases in patients are likely to result in the segment's growth rate.

The ambulatory surgical centers segment is expected to grow rapidly during the forecast period. Prefilled syringes are also used for patients admitted to the ambulatory surgical center for same-day treatment for a small operation.

Prefilled Syringes Market - By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa

Regionally, the European prefilled syringes market had the major share of the worldwide market in 2021 and accounted for the most significant share of the worldwide in 2021. New manufacturing facilities will be started in the European region in the coming years, increasing the market expansion in this region. They focus on manufacturing different types of prefilled syringes for different diseases. In addition, most researchers focus on innovatively designing the device to reduce patient risk. As a result, the use of ready-to-use prefilled syringes is increasing during the forecast period.

The North American prefilled syringes market is another potential regional market in the global market and is estimated to grow at a healthy CAGR during the forecast period. Due to the increase in the prevalence of diabetes and autoimmune diseases, the aging population vulnerable to chronic diseases further supports the increase in incidence. Medicines and biologics approved for treating these diseases should be given in prefilled syringes, contributing to market development in this region. The increasing aging population, lack of staff shortages, and increased healthcare awareness among people in the U.S are the factors that drive the prefilled syringe market forward. In America, the number of older people aged above 60 will have doubled by 2050. In addition, most people are using home therapies that need to be treated by healthcare providers or caretakers. For these people, these prefilled syringes are used to manage their taking of overdose of the drug, increasing patient confidence by taking syringes from anyone who cannot know about this drug prescription.

The Asia-Pacific prefilled syringes market is estimated to register the fastest CAGR during the forecast period. India and China have vast pools of diabetic patients, and many remain undiagnosed. In addition, sedentary lifestyles and unhealthy eating habits can be associated with the increasing incidence of autoimmune and chronic diseases. As a result, the unsatisfactory demand for superior drug delivery systems is widespread in the region. Besides, the increase in disposable income in the area and the development of health infrastructure will accelerate prefilled syringes during the forecast period.

The prefilled syringes market in Latin America is anticipated to hold a considerable share of the global market during the forecast period. In Brazil, about 12.5 million people have diabetes. In addition, nearly 88,000 children and adolescents have type 1 diabetes, making it the country with the world's third-highest number of children with diabetes. Therefore, market players in this region manufacture prefilled syringes for diabetes and other chronic diseases to improve patients' lives.

The MEA prefilled syringes market is expected to grow at a moderate CAGR in the coming years.

KEY MARKET PARTICIPANTS:

Some of the prominent companies operating in the global prefilled syringes market profiled in the report are Becton, Dickinson, and Company (U.S.), Gerresheimer AG (Germany), SCHOTT AG (Germany), West Pharmaceutical Services, Inc. (U.S.), Ompi (Italy), Catalent, Inc. (U.S.), Weigao Group (China), Vetter Pharma International GmbH (Germany), Nipro Corporation Japan) and MedPro Inc. (U.S.).

RECENT MARKET HAPPENINGS:

• In 2021, the Serum Institute of India joined the Indian packaging joint venture SCHOTT Kaisha to manufacture many syringes and vials and make them with secure pharmaceutical packaging to meet the demand during a pandemic.
• In 2021, Packaging Nipro Pharma CURACASE started needles should be packed individually in compact and smartly designed hard-plastic packaging, reducing the space in secondary packaging.
• In 2021, West Pharmaceutical Services, Inc. started a NovaGuard® SA Pro Safety System with the launch of a 0.5mL Standard Syringe Device in India for a single-use product.
• In June 2019, Fresenius Kabi introduced the neostigmine methyl sulfate infusion, USP Simplist prefilled syringe, in the United States.