Prefilled Syringes Market to Cross USD 45.31 Billion by 2028 at a CAGR of 11.90% from 2022-2028 owing to Rising Patient Count and Diversified Product Launches

SkyQuest's latest report on prefilled syringes market provides a reliable watch on the leading competitors in terms of strategic analysis, micro and macro market trends and opportunities, pricing trends, and a broad review of the market. In addition, the report provides a thorough analysis of the market's size, share, trends, overall profits, gross revenue, and profit margin to produce an accurate forecast and offer knowledgeable insights to investors so they can stay updated on market developments.

Westford, USA, Feb. 02, 2023 (GLOBE NEWSWIRE) -- Asia Pacific is predicted to exhibit the highest growth rate owing to the rise of the fastest-growing economies and a substantial untapped market. Furthermore, the global prefilled syringes market is anticipated to increase as chronic diseases such as diabetes, autoimmune diseases, heart disease, and other illnesses become more common. In addition, rising technical advances and product launches are predicted to fuel market expansion. Moreover, prefilled syringes are quickly replacing conventional syringe-vial combinations because of their benefits, such as better patient safety in treatment medication and delivery and convenience for medical professionals.

As per SkyQuest's global research, 422 million people globally are struggling with diabetes, and diabetes is directly responsible for over 1.5 million fatalities annually. Diabetes is one of the world's most severe public health issues, endangering both socioeconomic progress and public health. The prevalence of diabetes provides lucrative scope for players active in the prefilled syringes market.

Browse in-depth TOC on the "Prefilled Syringes Market"

  • Pages - 274
  • Tables - 114
  • Figures - 65

Prefilled syringes are easier and safer to use than their conventional counterparts, more portable and discrete in appearance, safer for drug administration, and more convenient overall. Prefilled syringes are among the most widely used medical devices that have become more significant over time due to their usability and other benefits over conventional insulin syringes. As a result, the healthcare industry underwent a revolution when plastic disposable syringes were introduced in the first place. The revolution is strengthened by developing sterile, prefilled syringes that allow safe self-administration of injectable medications without going to the hospital.

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Prominent Players in Prefilled Syringes Market

  • Gerresheimer AG
  • West Pharmaceutical Services Inc.
  • Stevanato Group
  • Baxter International
  • Oval Medical Technologies Ltd.
  • Nipro PharmaPackaging International
  • Helvoet Rubber & Plastic Technologies BV
  • Terumo Corporation
  • Vetter Pharma International
  • SHL Medical AG
  • Weigao Group
  • Dickinson and Company
  • AptarGroup, Inc.
  • Unilife Corporation

Disposable Prefilled Syringes to Register Higher Sales Thanks to Rising Adoption in Healthcare Facilities

Disposable prefilled syringes had the largest market share of 53% in 2022 due to a huge rise in their applications. Since these tools reduce the risk of contamination, demand for them is anticipated to rise. Risky behaviors include frequently using a prefilled syringe and needle without following the appropriate safety precautions as indicated by medical authorities might result in needle stick injuries. Traditional disposable prefilled syringes do not guarantee patient safety, but they do safeguard the receiver. As a result, the usage of disposable equipment has increased in healthcare facilities, such as hospitals and nursing homes, due to a strong need for patient safety.

Europe is anticipated to hold a sizable prefilled syringes market share in the market under study over the projection period owing to the high preference of healthcare professionals for prefilled injectable devices to reduce needle-related injuries. In addition, the segment is predicted to drive sales due to the approval of novel products for the European market.

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Diabetes Segment to Witness Higher Traction due to Increasing Syringe Usage among Patients

The diabetes segment held a 32.4% share in 2022 and is projected to grow substantially to register a higher CAGR in the coming years. When the pancreas can no longer generate insulin or is unable to effectively use the insulin it does produce, diabetes develops. As a result, people with diabetes frequently use prefilled syringes to provide several daily insulin doses. Several factors are expected to contribute to the segment's continued dominance over the forecast period, including the segment's sizeable patient base, the rising prevalence of diabetes, and the demand for efficient and safer insulin delivery devices.

Asia Pacific is projected to witness higher traction with stable CAGR between 2022 and 2028 due to the emergence of rapidly expanding economies and a substantial untapped market. The target market in the region is expected to grow due to favorable demographic factors, including the large population and increased prevalence of various chronic conditions. The market for prefilled syringes is established and includes countries like China.

The prefilled syringes market is extensively examined in the latest market research report, along with the projected future potential for the business during the forecast period. In addition, the report also provides a thorough analysis that highlights the strength and weaknesses, product portfolio, product launches, and strategic position of the leading market participants.

Key Developments in Prefilled Syringes Market

  • KORU Medical Systems, Inc. announced a development agreement for the Freedom Infusion System with a prefilled syringe of subcutaneous immunoglobulin treatment (SCIg). According to the agreement, KORU Medical must adjust its Freedom Infusion System so that SCIg prefilled syringes can be used by patients worldwide and obtain regulatory approval.
  • Sharps Technology, Inc., a cutting-edge maker of medical devices and a leader in medication delivery, announced the introduction of the company's specialized refillable syringe ("PFS") system product line. The product line will work with Nephron Pharmaceuticals at the Inject EZ facility in West Columbia, South Carolina. The polymer syringes have many traits with contemporary pharmaceutical glass designs.
  • A next-generation glass refillable syringe (PFS) has been unveiled by BD (Becton, Dickinson, and Company), a market leader in medical technology, that raises the bar for vaccine PFS performance with new, more stringent requirements for processability, cosmetics, contamination, and integrity. The innovative BD EffivaxTM Glass Refillable Syringe was created in partnership with top pharmaceutical companies to fulfill the complicated and changing needs of vaccine manufacturing.
  • SCHOTT Pharma, a company that creates drug containment and delivery solutions for drugs, and Schreiner MediPharm, a company specializing in pharmaceutical labeling, have announced the continuation of a long-standing collaboration. Its goal is to provide fresh, clever ideas that give prefilled syringes more functionality. Before this, the partnership mainly focused on adding analog functional labels to COC syringes. The two pharmaceutical packaging businesses are digitally digitizing prefilled syringes.

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Key Questions Answered in Prefilled Syringes Market Report

  • What is the expected global size and CAGR of prefilled syringes market?
  • Who are the highly active vendors with a high share of the market?
  • What are the most impactful drivers and restraints for the global market?
  • Which are the most prevalent trend and growth patterns in the target market?
  • Which regional market is anticipated to register the highest revenue share?

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