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The global prefilled syringes market size was valued at USD 7.91 billion in 2023 and is predicted to reach USD 8.70 billion in 2024. The market is anticipated to touch USD 20.62 billion by 2032, recording a CAGR of 11.4% over 2024-2032.
Fortune Business Insights™ presents this information in its latest report titled “Prefilled Syringes Market Size, Share & Industry 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 Application (Cancer, Rheumatoid Arthritis, Diabetes, and Others), By Design (Single-chamber, Double-chamber, and Multiple-chamber), By End User (Pharmaceutical & Biotechnology Companies, Contract Research & Manufacturing Organizations, and Others), and Regional Forecast, 2024-2032”.
Prefilled syringes are specialized containers for injectable drug delivery designed for administration via the parenteral route. They offer numerous advantages, including reduced contamination risks, minimized drug wastage from overfilling, elimination of dosing errors, expedited drug delivery during emergencies, and user-friendly operation. These benefits are anticipated to drive the demand for prefilled syringes.
The COVID-19 pandemic significantly influenced the market primarily due to the heightened demand for pre-filled products. The surge in the demand for vaccine necessitated an increase in manufacturing capacity for these syringes, resulting in enhanced revenue for manufacturers and positively affecting market dynamics.
Increasing Need for Biologics to Drive Market Growth
The increasing need for biologics is driving the development of cutting-edge injectable drug delivery systems. This advancement is fueling a substantial demand for prefilled syringes. The heightened demand for manufacturers to obtain regulatory approvals is expected to contribute to the global expansion of the prefilled syringes market in the coming years. Moreover, the escalating incidence of cancer, autoimmune disorders, and other non-communicable diseases is anticipated to augment the demand for biological drugs.
However, the prefilled syringes market growth is constrained by factors such as stringent regulatory requirements and manufacturing intricacies.
Fresenius Kabi AG Obtained Approval from U.S. FDA for its Biosimilar Idacio Intended for Treatment of Chronic Autoimmune Diseases
Fresenius Kabi AG obtained approval from the U.S. FDA for its biosimilar Idacio (adalimumab), intended for the treatment of chronic autoimmune diseases. The medication will be offered in a self-administered pre-filled syringe and a self-administered pre-filled pen.
Companies to Invest in Innovative Product Development to Strengthen their Market Dominance
Becton Dickinson and Company (B.D.), Gerresheimer AG, SCHOTT AG, and West Pharmaceutical Services Inc. comprised the majority of the global prefilled syringes market share in 2023. These companies are poised to sustain their dominance and generate significant revenue in the years ahead. Their leadership is largely due to research efforts and continuous investments in innovative product development aimed at creating a cost-effective and highly efficient parenteral drug delivery system.
Notable Industry Development:
List of the Companies Profiled in the Report:
To get a detailed report summary and research scope of this market, click here:
https://www.fortunebusinessinsights.com/industry-reports/prefilled-syringes-market-101946
Further Report Findings
Table of Segmentation
ATTRIBUTE | DETAILS |
Study Period | 2019-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2019-2022 |
Growth Rate | CAGR of 11.4% from 2024-2032 |
Unit | Value (USD billion) |
Segmentation | By Material
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By Closing System
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By Product
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By Application
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By Design
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By End User
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By Region
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