Global Prefilled Syringes Market: Country Overview; Value Chain Analysis; Production Process; Trade Analysis; Market Dynamics: Drivers & Constraints, Industry Events, Innovations & Trends, SWOT Analysis; Porter’s Five Forces; Industry Best Practices: Sourcing Strategy, Procurement Model, Contract Structure, Negotiation Levers, Key Factors Influencing the Quotation; Key Supplier Analysis, 2024-2032

Prefilled Syringes Industry Report by Regional Category Spend, Price Analysis, Key Demand, and Price Indicators, and Best Buying Practices

The global Prefilled Syringes market reached a value of about USD 22 billion in 2021. The industry is projected to grow at a CAGR of around 10.5% in the forecast period of 2022-2027 to reach a value of about USD 28.73 billion by 2027.

The global Prefilled Syringes industry report gives a comprehensive analysis of the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. The market is majorly driven by the increasing demand for a safe and efficient method for providing medication. In the industry report, the key demand indicator is the highest category spender by region—North America.

Industry Definition and Segmentation

A prefilled syringe is a single-dose vaccination package that has been fitted with a needle by the manufacturer. It is a disposable syringe that has already been loaded with the material to be injected. There is now a shift towards plastic and disposable syringes, which preserve the needle and prevent it from being reused. This has increased demand in the medical industry for easy and safe prefilled syringes rather than traditional glass vials for packaging parental medications. The Prefilled Syringes industry report comprises segments by applications (Insulin, Vaccines, and Biopharma) and region (North America, Europe, Asia Pacific, the Middle East, Africa, and South America).

The North American Region is Driving the Growth of the Industry

North America holds the largest share in the industry due to the growing senior population in the United States vulnerable to chronic ailments. Furthermore, the high acceptance of patient safety measures and quick implementation of prefilled syringes will boost the market growth in the region. The existence of prominent industry players with extensive distribution networks in the prefilled syringes business would further benefit the market. Due to the stringent regulations from the United States Food and Drug Administration, the production process is more severe than before. This has functioned as a disincentive to global players domiciled in the US, preventing them from expanding their regional operations in other parts of the world.

The market is primarily driven by the rising prevalence of chronic illnesses among consumers. The rise in various health conditions such as diabetes etc. significantly contributes to the market's growth. The market will develop as demand for sophisticated drug delivery devices increases, resulting in more precise dosage and greater safety. Other factors driving the market development include the increasing acceptance of biosimilars in developed areas. The prefilled syringes make dosage simple, accurate, and safe for both patients and clinicians, furthering the industry's expansion. As the pharmaceutical sector pursues innovative and more convenient drug delivery techniques, prefilled syringes have emerged as one of the fastest-growing options for unit dosage medicine.

However, the market's scarcity of prefilled syringes with integrated safety measures, owing to their costly and complex production process, will likely hamper the market's expansion.

Best Procurement Practices

The global Prefilled Syringes industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major global Prefilled Syringes regions, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.

Category Management Studies

Prefilled syringes are available in a wide range of materials, with the main important distinction being whether they are composed of glass or polymer. The prefilled syringes (PFS) market is dominated by glass, although polymer is likely to rise in the following years. Rubber is used to make the stopper (plunger or bung), which comes in various grades and varieties. The cap is housed in an aluminium metal ring at the other end of the cartridge from the rubber plunger. The needle must be protected from external damage during production, filling, and distribution.

Developments in the Product, Further Driving the Procurement of Prefilled Syringes

The industry is witnessing growth due to the various technological breakthroughs in the product's development. Prefilled syringe advancements have increased ease of use, decreased medication waste, and considerably improved dose accuracy. Additionally, component materials are being improved by manufacturers. The market is being driven by the increasing use of prefilled syringes and technical developments in auto-injectors. Because of their benefits, such as increased patient safety and convenience for healthcare practitioners in dose preparation and delivery, prefilled syringes are rapidly replacing traditional syringe-vial combinations. Also, the rising demand for biotechnology medications and the developing biotech industry, which offers more chances, are likely to influence market growth.

The regional markets for the industry can be divided into Europe, South America, the Asia Pacific, North America, and the Middle East and Africa.

Key Industry Players Mentioned in the Prefilled Syringes Industry Report

• Becton Dickinson and Company
• Schott AG
• Gerresheimer AG
• Nipro Corporation
• West Pharma Services, Inc.

Market Landscape

To increase their revenue share in this business, these market participants are pursuing a variety of organic and inorganic growth tactics. Prefilled syringes have a reasonably competitive market with a high level of price competition, and both global and local businesses compete in this market. Local players supply prefilled syringes at a reduced price in most developing nations, while Multinational corporations dominate the market. Few companies are projected to enter the market shortly, accounting for a significant portion of the prefilled syringes industry.

Key Initiatives by Companies

• Owen Mumford announced in January 2022 that their UniSafe 1mL safety device for prefilled syringes had won certification in Asia. UniSafe 1mL has also received regulatory clearance in Europe, and the medicine is currently available on the market as a combination product with a rheumatoid arthritis drug.
• The United States Food and Drug Administration granted Aurobindo Pharma Limited clearance to manufacture and commercialise Naloxone HCl Injection Prefilled Syringe 2 mg/2 mL in January 2021.