New York, March 18, 2021 (GLOBE NEWSWIRE) -- Growing demand for advanced devices to provide controlled drugs is a significant factor influencing growth of the market.
Market Size – USD 130 million in 2020, Market Growth – at a CAGR of 7%, Market Trends –Increasing demand for advanced drugs supplying devices
The global dual chamber prefilled syringes market is expected to be valued at USD 223.3 million by end of 2028 from a value of USD 130 million in 2020, expanding at a CAGR of 7% over the forecast period. The dual chamber prefilled syringes are increasingly witnessing adoption from research & development activities initiated for introducing improved drugs for the several chronic diseases such as diabetes. According to the data published by World Health Organization (WHO), diabetes is becoming seventh leading cause of death. The mortality from diabetes from 2000 to 2016 has increased to 5% and counted for 1.6 million deaths in 2016. The increasing number of patients suffering from these chronic diseases encouraging investment in research, which in turn is fueling growth of the dual chamber prefilled syringes market.
However, the threat of counterfeit products posing risk to the patients, which is a key factor hampering growth of the market. The trend of dual chamber prefilled syringes with integrated safety features among end users is estimated to further drive the market growth during the forecast period.
Nonetheless, the factors such as investment for research of newer products coupled with increasing approvals from the Food and Drug Administration (FDA) for biopharmaceuticals are estimated to offer several opportunities for growth during the forecast period.
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Pointers from the report
- Otsuka Pharmaceutical Co., Ltd. and H.Lundbeck A/S announced that they have received FDA approval their product - ABILEY MAINTEA, for the monotherapy treatment of bipolar I disorder in adults. Introduction of such products are boosting adoption of dual chamber prefilled syringes, benefiting its market growth.
- The glass segment hold the largest share in the overall dual chamber prefilled syringes market in 2020 and is projected to hold significant share over the forecast period. The reasonable price of glass syringe boosts its demand and drives further growth of the market.
- The number of diabetic patients is increasing globally and especially in Asia Pacific owing to large population and changing lifestyle, which is estimated to account in the growth of segment. Owing to such factors, the segment is predicted to witness faster growth over the forecast period.
- The <1 ml segment is estimated hold significant share in the overall dual chamber prefilled syringes market owing to larger portion of drugs at a time.
- Asia Pacific is anticipated to expand at a faster CAGR in the dual chamber prefilled syringes market over the forecast period owing to increasing health awareness and increasing healthcare spending in the region. Additionally, the manufacturers are focusing to offer affordable products and are getting commercially approved.
Dual Chamber Prefilled Syringes Market by Material (Glass and Plastic), Indication (Hemophilia, Schizophrenia, Endometriosis, Erectile Dysfunction, and Diabetes), Product (Liquid/Powder, Liquid/Liquid), and Region - Global Forecast To 2028; To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/dual-chamber-prefilled-syringes-market
For the purpose of this report, Reports and Data has segmented the global dual chamber prefilled syringes market on the basis of type, product, platform, end user, and region:
By Material
- Glass
- Plastic
By Application
- Liquid/Powder
- Liquid/Liquid
By Product
- <1 ml
- 1 ml-2.5 ml
- 2.5 ml-5.0 ml
- >5.0 ml
By Indication
- Hemophilia
- Schizophrenia
- Diabetes
- Erectile Dysfunction
- Endometriosis
- Others
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By Region Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
- Latin America
- Brazil
- Rest of LATAM
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