Prefilled Syringes Market Trends, Analysis and Forecasts, 2020 – 2030
Improved convenience, affordability, sterility, safety, and accuracy delivered by prefilled syringes over traditional syringes are the key parameters fueling the widespread adoption of the prefilled syringes around the world. The parenteral drug delivery has enjoyed a dominating demand over last century owing to wide adoption, however, lack of convenience, affordability, and safety concerns have reduced the preference for traditional syringe and veil based drug delivery. The prefilled syringes offer high convenience in drug delivery through specially designed cartridges, wherein a patient can administer himself with the precise drug dose without any help form healthcare assistant. Additionally, the prefilled syringes are affordable compared to traditional syringes. The cartridges manufactured using recyclable plastic are cost efficient as compared to the cylindrical glass barrels and tightly fitting glass rods used in traditional syringes. For accurate dosage quantity, the manufacturers needed to overfill the glass veils to compensate for the drug waste during administration, thereby increasing the manufacturing cost. However, the prefilled syringes help in reducing the manufacturing cost associated with overfill drugs through precise machine filled cartridges. These factors have contributed significantly towards rapid adoption of prefilled syringes across the high-income countries. The global prefilled syringes market is anticipated to gain traction during the forecast period.
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North America contributed the largest share to the global prefilled syringes market in 2019 and is anticipated to be a dominating geography during the forecast period owing to increasing investment in development of novel drugs and advanced therapeutics, early adoption of prefilled syringes, high penetration across different end use sectors, and presence of leading pharmaceutical manufacturers. Asia Pacific is anticipated to be the fastest growing market for prefilled syringes in coming years owing to increasing adoption across major countries. Increasing investment in pharmaceutical manufacturing and healthcare infrastructure in China and India is anticipated to offer prominent growth opportunities during the forecast period.
The report titled “Prefilled Syringes Market – Global Market Share, Trends, Analysis and Forecasts, 2020-2030” offers market estimates for a period 2018 to 2030, wherein 2018 is historic period, 2019 is the base year, and 2020 to 2030 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global prefilled syringes market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market. For instance, Becton, Dickinson and Company reported revenues of USD 17.3 billion in 2019 and the product segment analysis of the company indicates that BD Medical business segment of the company dominated revenue in 2019.
The global prefilled syringes market is segmented based on material, type, design, application, and geography. Based on material, the global prefilled syringes market is segmented into glass-based prefilled syringe and plastic-based prefilled syringe. Based on type, the global prefilled syringes market is segmented into disposable prefilled syringes and reusable prefilled syringes. Based on design, the global prefilled syringes market is segmented into single chambered prefilled syringe, dual chambered prefilled syringe, and customized prefilled syringe. Based on applications, the global prefilled syringes market is segmented into anaphylaxis, rheumatoid arthritis, diabetes, and others. Based on geography, the global prefilled syringes market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment, and would identify the segment of the company focusing on prefilled syringes products. Further, market share of prominent companies in the global prefilled syringes market would also be estimated. For instance, Becton, Dickinson and Company operates through three business segments namely BD Medical, BD Life Sciences, and BD Interventional. The prefilled syringes products are delivered under BD Medical business segment of the company with revenue contribution of US$ 9.1 billion in 2019.
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The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, SWOT analysis, and research and development focus of all the prefilled syringes companies. The global prefilled syringes market study would take into consideration the participants engaged throughout the ecosystem of the market, along with their contribution. Product portfolio would focus on all the products under the prefilled syringes business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global prefilled syringes market.