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.
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).
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.
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.
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.
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.
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.
1. Executive Summary
2. Prefilled Syringes Industry Snapshot
2.1. Prefilled Syringes Market Outlook
2.2. Prefilled Syringes Category Analysis by End-Use
2.3. Regional Overview
2.3.1. North America
2.3.3. Asia Pacific
2.3.4. Latin America
2.3.5. Middle East & Africa
3. Impact of Recent Events
4. Prefilled Syringes Value Chain Analysis
5. Prefilled Syringes Production Process
6. Trade Analysis
7. Major Risk Factors in Sourcing
8. Prefilled Syringes Cost Structure
9. Prefilled Syringes Price Analysis
10. Key Demand Indicator Analysis
11. Key Price Indicator Analysis
12. Prefilled Syringes Market Dynamics
12.1. Drivers & Constraints
12.2. Industry Events
12.3. Innovations & Trends
12.4. SWOT Analysis
12.5. Porter’s Five Forces
12.5.1. Buyer Power
12.5.2. Supplier Power
12.5.3. Threat of New entrants
12.5.4. Threat of Substitutes
12.5.5. Industry Rivalry
13. Industry Best Practices
13.1. Sourcing Strategy
13.2. Procurement Model
13.3. Contract Structure
13.4. Negotiation Levers
13.5. Pricing Model
13.6. Key Factors Influencing the Quotation
14. Key Supplier Analysis
14.1. Becton Dickinson and Company
14.2. Schott AG
14.3. Gerresheimer AG
14.4. Nipro Corporation
14.5. West Pharma Services,Inc.
The global Prefilled Syringes market size was valued at USD 22 billion in 2021.
As per the end-use provided, the Insulin segment is anticipated to lead the market between 2022 and 2027.
The significant demand for safe and efficient dosage techniques due to the rise in chronic illnesses is one of the essential drivers of the Prefilled Syringes market growth.
Becton Dickinson and Company, Schott AG, Gerresheimer AG, Nipro Corporation, and West Pharma Services, Inc are some of the major players in the market.
The North American region of the Prefilled Syringes industry holds a significant share in the market.
The global Prefilled Syringes market attained a value of USD 22 billion in 2021, 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 prefilled syringes make dosage simple, accurate, and safe for both patients and clinicians, furthering the industry's expansion. Aided by the growing technological advancements in the product's development, including component materials being improved by manufacturers, auto-injectors, the rising demand for biotechnology medications and the developing biotech industry, the market is anticipated to observe additional progress in the forecast period of 2022-2027, growing at a CAGR of 10.5%. The market is projected to reach USD 28.73 billion by 2027. Some of the leading players in the industry are Becton Dickinson and Company, Schott AG, Gerresheimer AG, Nipro Corporation, and West Pharma Services Inc.
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