Pune , India , May 05, 2021 (GLOBE NEWSWIRE) -- The global demand for safety syringe market in terms of revenue was worth of USD 420.5 Million in 2020 and is expected to reach USD 546.7 Million in 2027, growing at a CAGR of 3.31% from 2021 to 2027. The safety & Prefilled Syringe market is expected to grow at significant growth rate due to number of driving factors.
The global demand for Prefilled Syringe market in terms of revenue was worth of USD 1139.6 Million in 2020 and is expected to reach USD 2633.4 Million in 2027, growing at a CAGR of 8.95% from 2021 to 2027.
COVID-19 has positive impact on global safety & Prefilled Syringe market as growing production of Prefilled Syringes, supply chain reshaping and directly rise in demand, negative impact during coronavirus. The pharmaceutical packaging industry has observed a significant effect due to the COVID-19 outbreak. The increasing clinical trials for coronavirus vaccines had resulted in the high production of other related drugs for the treatments. For instance, in 2020, COVID-19 is reshaping the pharmaceutical supply chain in the medical emergency. The coronavirus pandemic may limit the safety & Prefilled Syringe markets where drugs are made for a clinical care. In addition, the change from conventional syringes to Prefilled Syringes due to the reduced risks of needle-stick injuries and infection will boost its production during coronavirus. For example, May 13, 2020, The US government had signed a deal of USD138 million with the makers of the syringe in order to facilitate the production of 100 million Prefilled Syringes by 2020 and more than 500 million Prefilled Syringes in 2021. Hence, leading companies in the safety & Prefilled Syringe market are taking advantage of on this trend and increasing their production capacities in order to prevent COVID-19.
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Syringes are the devices used to inject fluids into or withdraw them from something. It is usually operated by a piston pump system, which is an important method of medical treatment for patients by doctors or nurse staff. Safety & Prefilled Syringes are one of the types of the syringes used to package injectable drugs and diluents. Prefilled Syringes are single-dose packet of vaccine with fixed needle and have high level of accuracy. These are safe and disposable which are used to transport the vaccines where the exact dose is need as well as help in preventing the chances of overdosing. Some of the categories of drugs packaged in Prefilled Syringes are blood stimulants, therapeutic proteins, vaccines, erythron proteins, interferons, and rheumatoid arthritis. In Prefilled Syringes, the most used therapeutic categories are anaphylaxis, hematopoietic, anticoagulants, antivirals, monoclonal antibodies and vaccines.
Prefilled Syringes have become a primary choice for most of the high-end injectable drugs due to the numerous advantages they offer over traditional packaging systems. These syringes offer various advantages like negligible overfill requirements, accurate drug dosing, ease of use and handling, increased assurance of sterility and time saved in emergency situations. In the earlier period, glass and metal syringes were widespread but progressively there has been a movement in the direction of plastic and safety and pre-filled syringes so that the needle is safe and protected and cannot be re-used which are Prefilled disposable systems. Thus, demand for appropriate and safe Prefilled Syringes in the medical field is increasing.
Market Dynamics
Increasing healthcare expenditure, increasing prevalence of the various chronic diseases such as diabetes, cancer, hormonal diseases and others and growing adoption of self-care devices are some of the major factors driving the growth of the market. Increasing prevalence of the various chronic diseases such as diabetes is also stimulating the growth of the safety & Prefilled Syringe market. For instance; according to Diabetes Research and Clinical Practice is an international journal 2019, the global diabetes prevalence was 9.3% (463 million people) in 2019 and the number is escalating to 25% in 2030 and by 2045, the number is projected to increase by 51%. One in two people living with diabetes which is leading to grow the safety of the patient by taking insulin with syringes while Prefilled Syringes are the safest manner. Thus, increasing prevalence of the various chronic diseases such as diabetes is driving the growth of safety & Prefilled Syringe market.
In addition, high demand for improved safety injectables, rising demand and higher production of large molecule biologics and biosimilar are also supplementing the market growth. Furthermore, increasing number of product offerings are also augmenting the growth of the global safety & Prefilled Syringe market. For instance; W. L. Gore & Associates, Inc., an American multinational manufacturing and global materials science company commercially launched GORE ImproJect Plunger for pre-filled syringes in 2019. The pre-filled syringe systems use silicone to act as a lubricant between the barrel and the plunger as well as to help deliver a seal. Also, Temuro Medical Corporation launched PLAJEX silicone oil-free Prefilled Syringe in 2019 which provides treatment option for patients. However, the availability of innovative, better and effective alternative such as nano-patches and other non-invasive methods may limit the growth of the safety & Prefilled Syringe market. In spite of that, compared to existing Prefilled Syringes, industry participants are investing more and more in the research and development of new and more powerful chemicals, which can create market opportunities within the forecast period.
The material segment of the global pre-filled syringe market is dominated by Glass with the largest market share of 80.66% in 2020. The end-user segment of global pre-filled syringe is dominated by Pharmaceutical with the largest share of 79.35% in the year 2020.
The product Type segment of the global safety syringe market is dominated by Retractable Safety Syringe with the largest market share of 70.59% in 2020. The application segment of the global safety syringe market is dominated by insulin with the largest market share of 81.13% in 2020. The end-user segment of global safety syringe is dominated by hospitals with the largest share of 86.98%in the year 2020.
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Regional Analysis of safety & Prefilled Syringe market
North America is expected to dominate the global safety & Prefilled Syringe market due to the increasing healthcare expenditure and growing prevalence of chronic diseases into the region. For instance; according to the Centers for Disease Control and Prevention, U.S. Department of Health & Human Services 2020, the national expenditure per capital in Unites States in 2018 was $11,172 and the total national health expenditure was $3.6 trillion in 2018. Europe is one of the major revenue-generating regions in the global safety & Prefilled Syringe market. The demand for Prefilled Syringes has been increasing due to various factors such as rising demand for safety Prefilled Syringes, growth of the biologics and biosimilars market, technological advancements and high adoption of self-injection devices in this region. For example; according to the European Federation of Pharmaceutical Industries and Associations 2019, R&D investment scoreboard pharmaceutical and biotechnology sector amounts to 18.9% of total business R&D expenditure across the globe. Several pharmaceutical companies like Gerresheimer AG, Schott Group, Vetter Pharma and other are investing in production in R&D expenditures.
The global safety Syringe market research reports segments as follows:
Global Safety Syringe Market: By Product Type
- Retractable Safety Syringe
- Non-Retractable Safety Syringe
Global Safety Syringe Market: By Application
- Insulin
- Others
Global Safety Syringe Market: By End User
- Hospitals
- Others
Market Trends of safety & Prefilled Syringe market
The safety & Prefilled Syringes are the syringes which are filled at the time of manufacturing and packaging instead of drug administration. Most of the time products come in glass vessel or ampoule & it is withdrawn into syringe when administration is required and then injected in patient. To avoid lack of convenience, accuracy, affordability, safety, sterility, etc., these Prefilled Syringes are now used. These syringes are used to deliver parenteral medications and are single dose packet of parenteral drug in which a needle is fixed by a manufacturer. These Prefilled Syringes are ready to use disposable syringes that contain premeasured dosage to reduce dosing errors and increase dosing accuracy, patient compliance, convenience and safety, also to enhance patient quality of life & reduce patient time in the clinic. They are more convenient devices for the delivery of parenteral medications. They are small in size which makes them easy to carry and are dependable for delivering a precise dose of medication. Prefilled Syringes provide various advantages for the manufacturer, physician and patient over conventional method of parenteral drug delivery. Some of these advantages are such as accuracy, sterility, convenience, affordability and safety.
Some of the major trends of the global safety & Prefilled Syringe market are:
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Self-Administration:
Pre-filled safety syringes are not only safer than those without needle protection but are also more convenient and they are well-adapted to the self-administration trend.
COP Prefilled Syringes:
The material used for the safety & Prefilled Syringes is a high performance polymer called Cyclic Olefin Polymer (COP). It is suitable for use as a primary packaging for sophisticated medications, especially for biosimilars, sensitive biologicals and biobetters, but also for e.g. hyaluronic acid applications.
Plajex – a Silicone Oil-Free Pre-Filled Syringe:
The PLAZX syringe is a barrel of a syringe used to be used as a medical medicine container. It is manufactured by Terumo Manufacturing only as an empty pre-fillable syringe component which will be processed by further pharmaceutical companies as per their filling requirements.
Dual Chamber Prefilled Syringes:
The dual-chamber Prefilled Syringe is used to store a large amount of organic matter or active medicinal ingredients that may not be stable for extended periods of time. This syringe enables to prevent drug damage by maintaining drug sterility before injection.
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