Press Release / Prefilled Syringes Market
Prefilled Syringes Market to Rise at 10.9% CAGR over 2023-2030; New Product Launches and Rising Adoption Among Healthcare Professionals To Drive Market Growth
July 13, 2023 | HealthcareThe global prefilled syringes market size is estimated to display strong growth by reaching USD 16.32 billion by 2030. Fortune Business Insights™ in its report titled “Prefilled Syringes Market Size, Share & COVID-19 Impact Analysis, By Material (Glass and Plastic), By Closing System (Staked Needle System, Luer Cone System, and Luer Lock Form System), By Product (Complete Syringe Set and Components & Accessories), By Design (Single-chamber, Double-chamber, and Multiple-chamber), By End-user (Pharmaceutical & Biotechnology Companies, Contract Research & Manufacturing Organizations, and Others), and Regional Forecast, 2023-2030” observes that the market size in 2022 stood at USD 7.22 billion and is expected to reach USD 7.91 billion in 2023. The market is expected to witness a strong CAGR of 10.9% during 2023-2030. In point-of-care testing, the sample does not need to send to a laboratory for testing. Various advantages of the syringes such as reduced chances of contamination, reduces drug wastage due to overfilling, elimination dosing errors, enable quick drug delivery in case of emergencies and easy use. Increasing number of product launches by key players and the high adoption of the products by healthcare professionals propel market growth.
Becton, Dickinson And Company Partnered With Aptar Pharma For The Launch Of BD SCF PremiumCoat Plunger Stopperade
In October 2021, Becton, Dickinson and Company partnered with Aptar Pharma for the launch of BD SCF PremiumCoat Plunger Stopperade for supporting biologics injection with pre-filled syringes.
Post-Pandemic, Key Market Players Reported Increase in the Sale Of These Syringes
The impact of the COVID-19 pandemic on pharmaceutical packaging was high due to the rapid production of vaccines. There was an increasing demand for such syringes over glass any other additional needles due to the reduced risk of needle-stick injuries. Therefore, for increasing the production of the COVID-19 vaccine, the manufacturers increased their production capacity. In 2020, the market was set to grow by 17.4%, and 18.1% in 2021 due to the COVID-19 crisis, compared to 10.2% in 2019. In 2021, key market players reported an increase in the sale of these syringes.
Use of Pre-Filled Injections as a Self-Injecting Device to Drive Market Growth
The use of pre-filled injections as a self-injecting device is set to drive prefilled syringes market growth. The use of pre-filled injections as a self-injecting device is the modern way of taking parenteral drugs. They are convenient and help in the easy administration process. These products help provide greater patient safety and reduce exposure to toxic products while drawing medications from the drug vials. The rise in biologics for treating chronic diseases has urged drug and packaging manufacturers to seek refined container closures and drug delivery systems.
However, strict regulatory requirements, manufacturing complexity, and rising recall of these products are some factors that are hampering the market growth.
Strong Strategic Partnerships to Support Expanding Their Footprints in the Global Market
Becton Dickinson and Company (B.D.), Gerresheimer AG, SCHOTT AG, and West Pharmaceutical Services Inc. held the largest market share in 2022. Strong strategic partnerships in the market are likely to support expanding their footprints in the global market. For instance, in May 2022, B.D. collaborated with Mitsubishi Gas Chemical Company, to examine the potential uses of Oxycapt technology developed by Mitsubishi Gas Chemical Company for the development of prefilled syringes.
To get a detailed report summary and research scope of this market, click here:
https://www.fortunebusinessinsights.com/industry-reports/prefilled-syringes-market-101946
Key Industry Development
- October 2022: Hikma Pharmaceuticals PLC launched Succinylcholine Chloride Injection, USP, 100mg/5mL in the form of prefilled syringe (PFS) in the U.S. The drug is used as general anesthesia to facilitate tracheal intubation and to provide muscle relaxation during surgery or mechanical ventilation.
List of Key Companies Profiled in the Market Report:
- B.D. (U.S.)
- Gerresheimer AG (Germany)
- SCHOTT AG (Germany)
- West Pharmaceutical Services Inc. (U.S.)
- Helvoet Rubber & P lastic Technologies BV (Netherlands)
- Nipro PharmaPackaging International (Belgium)
- AptarGroup, Inc. (U.S.)
- Terumo Corporation (Japan)
Further Report Findings
- Europe dominated prefilled syringes market share due to the increasing number of patients using biologics for treating chronic diseases. The market stood at USD 2.91 billion in 2022 with the strong adoption of advanced delivery methods for the self-injection of drugs.
- North America is set to have the second-largest market share due to the increasing number of product launches and the growing presence of leading players with strong distribution networks.
Table of Segmentation
ATTRIBUTE | DETAILS |
Study Period | 2019-2030 |
Base Year | 2022 |
Estimated Year | 2023 |
Forecast Period | 2023-2030 |
Historical Period | 2019-2021 |
Growth Rate | CAGR of 10.9% from 2023-2030 |
Unit | Value (USD billion) |
Segmentation | Material, Closing System, Product, Design, End-user, and Region |
By Material |
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By Closing System
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By Product |
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By Design |
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By End User |
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By Region |
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- 2023
- 2019-2022
- 188
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