Prefilled Syringes Market Size to Worth Around US$ 15.56 Bn by 2030

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Table of Content

According to Report, the global prefilled syringes market size is projected to worth around US$ 15.56 billion by 2030 and expanding growth at a CAGR of 10.2% from 2022 to 2030.

Pre-filled syringe is a packet of vaccine which has a needle attached to it by the manufacturer. Currently disposable syringes are used. The demand for these syringes has increased due to its convenience and safety in use. The risk of drug contamination is nullified since the syringes are prefilled. Due to growing prevalence of chronic diseases, adoption of self injecting devices, the right government regulations which are supportive, as well as the technological advancements have led to a growth in this market.

Generally there is awareness related to the benefits of such syringes amongst the patients and healthcare professionals. All of these factors are supporting the growth of the prefilled syringes market. In order to reduce the risk of the needle stick injuries, the growth of the prefilled syringes is seen. In order to increase the production of the COVID-19 pandemic vaccine there's an increase in the pre filled syringes production capacity. The home segment of the Health care services has shown a greater demand for such Prefilled syringes. Therefore, there is an increased investment by various market players in this material. There was a positive impact of the COVID-19 pandemic on this market.

 Regional Snapshot

Europe is the Maximum revenue generating region for the prefilled syringes market due to increase in the chronic diseases and the growth in biosimilars or the biologics market,along with the geographical expansion by manufacturers, the aging population, higher adoption of self injecting devices, technological advancements are all driving the demand for these prefilled syringes. key market players are based in Europe. The market is expected to grow during the forecast. India and Asia Pacific countries are also expected to grow during the forecast period due to a general improvisation in the health care systems, the research and development and the increased number of hospitals, which have advanced instruments.

 

Report Highlights

• On the basis of the design, the single chamber prefilled syringes has grown drastically till date and they are expected to grow during the forecast period. The market for the single chamber prefilled syringes is expected to grow due to the reduced material requirements, less drug wastage in the clinical trials and the easy disposal and storage. 
• On the basis of the material used for the prefilled syringes, the glass sector is expected to grow during the forecast period due to the various benefits offered like the prevention of oxygen and water vapor interacting with the compounds of the drugs and due to its compatibility with various filling machines. 
• On the basis of the type of prefilled syringes, the safety prefilled syringes segment is expected to grow with the highest CAGR in the forecast period, as there is an increase in the geriatric population over the the world. 
• On the basis of the regional market the prefilled syringes market is expected to have a good revenue. In Europe an increase in the biological and biosimilars market along with the chronic diseases, technological advancements, aging population is expected to grow during the forecast. 

Market Dynamics 

Drivers

As there is a rise in many chronic diseases like autoimmune diseases, diabetes and other heart conditions. In such cases, the patients need to self administer medications, so there is an increasing. demand for the prefilled syringes due to the prevalence of chronic illnesses and the diseases which are related to the lifestyle. As the prefilled syringes are convenient and safe to use, there is a growing demand in the market. 

Restraints

There are a number of needle stick injuries which are associated with the prefilled syringes. The number of the needle stick injuries is significant and cannot be ignored. Such prefilled syringes or the contaminated needle can lead to blood borne infections such as HCV or the HIV. Due to limited and expensive and challenging manufacturing procedure for the prefilled syringes, which have integrated safety measures it hinders the market growth. 

Opportunities 

In countries like South Asia and Africa approximately 400 million people do not have access to the essential health care services. According to the World Bank these countries continue to suffer due the quality of the health care systems. The cost of the medical treatments is high and also the prevalence of non communicable lifestyle diseases such as diabetes, cancer and cardiac syndromes, have resulted in funding gaps. So such regions provide opportunities for the growth of this market. 

Challenges

The prefilled cylinders are expensive to purchase in comparison to the disposable syringes. The cost of these prefilled syringes go high due to the manufacturing cost the major reason why the patients prefer alternative routes of drug delivery is due to the painful nature of the traditional injectables. Oral route is the most sought after as it is easy to use, convenient, safe, acceptable and cost effective. The oral topical and nasal drug delivery is an alternative to the prefilled syringes.

Recent Developments

• Biomedical Advanced Research and development authority eentered into a partnership with Becton Dickinson and Company in the year 2020. 
• Aptar Pharma partnered with Becton, Dickinson and company to launch BD SCF PremiumCoat Plunger Stopperade to support biologics injection with prefilled syringes. 
• By announcing the compatibility of D2F prefilled syringes with schreiner MediPharm Needle TRap safety system, Nipro packaging International expanded its product portfolio in 2021

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