Prefilled Syringes Market Analysis, Size, Share, Growth 2021-2027
A comprehensive overview of the Prefilled Syringes market is recently added by UnivDatos Market Insights to its humongous database. The Prefilled Syringes market report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Prefilled Syringes market. The Prefilled Syringes market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Prefilled Syringes market at the global and regional levels. The Global Prefilled Syringes Market is expected to grow at a CAGR of --% from 2021-2027 to reach USD -- million by 2027.
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Market Overview
The demand for prefilled syringes market is increasing on account of growing demand for advanced drug delivery devices for accurate dosing and improved safety, increasing adoption of self-care devices, benefits associated with prefilled syringes, increasing prevalence of diabetes and rheumatoid arthritis, escalating adoption of biosimilars in developed regions, rising incidence of cancer and other Non-Communicable Diseases (NCDs). According to the World Health Organization (WHO), 9 million deaths are caused by cancer worldwide every year. In total, NCDs cause close to 41 million deaths, or 71% of the global deaths, annually, states the WHO. The National Cancer Institute estimates that in the US alone, 1,735,530 new cancer cases were reported in 2018; by 2030, this figure is anticipated to reach 23.6 million. Such widespread prevalence of cancer and other NCDs has generated the need for alternative solutions such as biological drugs. The administration of these drugs requires modern devices such as prefilled syringes, which is foreseen to augment the prefilled syringes market potential in the forthcoming years.
Prevalence chronic diseases has been continuously increasing worldwide. They are the world's leading killers, accounting for more than 63 percent of all deaths. If nothing is done to reverse this trend, the number of people dying from chronic diseases will increase by 17% in the following ten years. This has led to expand clinical research activities to decipher the potential of biotherapeutics against various disease areas is expected to have a positive influence on the market for prefilled syringes.
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COVID-19 Impact
The prefilled syringes market is impacted due to the pandemic, resulting in impact of the pandemic on drug manufacturing and supply chain is expected to affect the market for the short term. Furthermore, HCPs have adapted to new ways of delivering care using telemedicine to reduce face-to-face contact, and adopting new ways of virtual healthcare and digital technologies is imperative to allow HCPs to continue routine appointments. Further, the use of apps can support self-management of chronic conditions, i.e., continuous glucose monitoring enables support with diabetes. Similarly, the contribution of community pharmacists to manage chronic conditions and promote medication adherence during this COVID-19 pandemic will be essential in easing the burden on already strained health systems.
Global Prefilled Syringes Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Type, the market is primarily bifurcated into
• Conventional Prefilled Syringes
Ø Disposable Prefilled Syringes
Ø Reusable Prefilled Syringes
• Safety Prefilled Syringes
Amongst all the types, the conventional prefilled syringes segment dominated the global prefilled syringes market and will grow at --% CAGR to reach USD -- million by the year 2027.
By Design, the market is primarily segmented into
· Single-Chamber Prefilled Syringes
· Dual- Chamber Prefilled Syringes
· Customized Prefilled Syringes
Based on design, the market is fragmented into single-chamber prefilled syringes, dual- chamber prefilled syringes and customized prefilled syringes. Among them, the single-chamber prefilled syringes segment held the largest market share in 2020. This large share can be attributed to the significant advantages with the use of single-chamber prefilled syringes over vials, such as optimized API use with less overfill, reduced material requirements, less drug waste in clinical trials, and simple storage & disposal. Moreover, increasing adoption of self-administered parenteral drugs due to the increasing prevalence of chronic diseases and benefits offered by prefilled syringes is further contributing to the growing trend.
Along with this, availability of broad range of single-chamber prefilled syringes across the globe is also proving beneficial for the overall industry expansion..
Prefilled Syringes Market Geographical Segmentation Includes:
· North America (United States, Canada and Rest of North America)
· Europe (Germany, United Kingdom, Italy, France, Spain, and Rest of Europe)
· Asia-Pacific (China, Japan, India, South Korea and Rest of Asia-Pacific)
· Rest of the World
Based on the estimation, the Europe region dominated the Prefilled Syringes market with almost USD -- million revenue in 2020. At the same time, Asia Pacific region is anticipated to witness highest growth over the next 5 years on account of increasing prevalence of chronic diseases and a speedily growing patient population..
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The major players targeting the market includes
· Becton, Dickinson and Company
· Pfizer Inc.
· Fresenius Medical Care AG & Co. KGaA
· Baxter International Inc.
· Terumo Corporation
· B. Braun Melsungen AG
· Cardinal Health Inc.
· Mylan NV
· Gerresheimer
· SCHOTT AG
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the prefilled syringes market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the prefilled syringes market?
• Which factors are influencing the Prefilled Syringes market over the forecast period?
• What are the global challenges, threats, and risks in the Prefilled Syringes market?
• Which factors are propelling and restraining the Prefilled Syringes market?
• What are the demanding global regions of the Prefilled Syringes market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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