Prefilled Syringes Market to Grow at 10.20% CAGR Between 2016 and 2024


Market Overview:
Prefilled syringes are defined as disposable syringes (meant for one-time use) that are already filled with the pharmaceutical substances that are to be injected into the patient’s body.
A new report on the global Prefilled Syringes Market, published by Market Research Future (MRFR), points out that this market could see a rise at 10.20% CAGR between 2016 and 2024. In terms of money value, the market can be worth USD 8397.23 Mn by the end of the forecast period.
The market driver of the highest stature for the global prefilled syringes market growth is the increase in chronic ailments and demand for advanced medical facilities. The rise in diabetes, cancer, and cardiovascular disorders is also causing market growth. Other important market drivers are increasing research & development (R&D), demand for convenient drug delivery methods, elimination of dosing errors, need for more effective methods for unit dose medication, greater dose precision, suitability for home use, and initiatives from different governments around the world to boost healthcare sector.
Key Players:
Big players in the global prefilled syringes market include Abbott (USA), Baxter International (USA), Becton Dickinson & Company (USA), Gerresheimer AG (Germany), Medtronic (Ireland), Nipro Corporation (Japan), OMPI (A Stevanato Group Company) (Italy), Schott AG (Germany), Terumo Corporation (Japan), Vetter Pharma International GmbH (Germany), Weigao Group (China), and West Pharmaceutical (USA).
Market Segmentation:
·         The global prefilled syringes market segmentation encompasses design, end-user, material, and type. MRFR’s take on the market surveys various facets of the market in-depth.
·         The design-based segmentation of this market covers single-chamber prefilled syringes, dual-chamber prefilled syringes, and customized prefilled syringes. During the forecast period, the dual-chamber prefilled syringes segment is expected to grow at 10.31% CAGR. Single-chamber prefilled syringes segment is expected to hold the larger market share of 56% in the global market. 
·         Regarding end-users, the market has been segmented into the ambulatory surgical center and hospitals/clinics. Due to the growing number of public hospitals as well as private hospitals, the hospitals segment has been anticipated to grow faster during the forecast period.
·         Based on material, the market has been segmented into glass prefilled syringes and plastic syringes. The glass prefilled syringes segment has been sub-segmented into baked on silicone syringes and oil siliconized syringes. Plastic syringes segment has higher growth due to its usage in many applications of pharmaceutical packaging during the forecast period.
·         By type, the market has been segmented into conventional prefilled syringes and safety prefilled syringes. Conventional prefilled syringes held the larger market share of about 68% in 2017.
Regional Segmentation
A geographical outlining of the global prefilled syringes market covers Europe, The Americas (North America & South America), Asia Pacific, and the Middle East & Africa (MEA).
Europe has been holding the maximum market share of 41.4% since 2017, and the status quo is expected during the forecast period. In this region, the market is elevating due to the rising geriatric population, demand for quality healthcare, and growing trend of home-based treatment separate with high healthcare expenditure. Due to technological advancement, the presence of some key market players, and the availability of advanced medical facilities, Western Europe is a bigger regional market segment compared to Eastern Europe. The most powerful country-specific markets in Western Europe are France, Germany, Italy, Spain, and the UK.
The Americas region is the second-largest regional market as North America anyways holds the potential to emerge as a powerful regional market due to technological advancement, availability of advanced medical facilities, and presence of key market players. USA and Canada generate the maximum market revenue in this region.
During the forecast period, the Asia Pacific region can expand rapidly at 10.78% CAGR due to ample prospects and unceasingly developing economies. Japan is an important country-specific market due to the increasing number of private and public hospitals and quick adoption of plastic devices along with modern healthcare developments. Other valuable country-specific markets in this region are Australia, China, India, and South Korea.
The MEA has less economic developments and very low per capita income. However, this region can develop as a market in the future as the demand for better medical facilities is here.
Latest Industry News
·         Made by Regeneron, chemistry, manufacturing, and controls prior-approval supplement for the Eylea injection prefilled syringe that has been approved by the USFDA. 13 AUG 2019

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