Prefilled Syringes Market - Acumen into Novel Drug Delivery Method

  • 22 Mar 2019
  • Healthcare

As per the recent study by FutureWise on prefilled syringes, the global market is predicted to value over US$ 10 Bn by the end of the assessment year 2026. Prefilled syringes are utilised to package a variety of medications and drugs, such as vaccines, therapeutic proteins and insulin.  In recent years, prefilled syringes have gained colossal demand as it is affordable, accurate, convenient and safe. Healthcare specialists benefit from precise, pre-measured dosages, elimination of medication and dosage errors, and reduced risk of microbial contamination. 

 

Despite holding multiple benefits, factors such as high manufacturing cost of prefilled syringes, storage difficulties, and stringent norms set by government authorities may hinder the growth of the market. Nonetheless, manufacturers should focus on technological improvements and innovations, and catering to the unmet demand for specific syringes as these are the key market growth aspects. 

 

Increase in Prevalence of Chronic Diseases Globally to Augment the Growth of Prefilled Syringes Market

Owing to the rising incidences of chronic diseases globally, healthcare professionals are exploring seeking alternate methods for patient care. As per the Centres for Disease Control and Prevention in 2014, approximately 29.1 million people in the United States were suffering from diabetes, which is 9.3% of the total population. Patients suffering from Type 1 diabetes are advised to undergo periodic intravenous administration of insulin to control their sugar levels inefficiency in natural insulin production. Prefilled syringes assist in self-administration of these drugs by making the treatment affordable, feasible and precise.  Due to the rising incidents of chronic diseases in North America, the market displays notable growth. 

APEJ region is poised to exhibit growing inclination towards injectable drug delivery systems. The growing ageing population in countries such as India and China, and increasing initiatives in the pharmaceutical industry, is surging the demand for prefilled syringes to treat diabetes and other autoimmune diseases. 

 

Further Significant Highlights:

  • Glass prefilled syringes are forecasted to account for the largest market share. The growth of this segment can be associated with the soaring use of glass in manufacturing syringes due to its resistance towards chemical and heat, and nonreactive nature. 
  • Single-chamber prefilled syringes are poised to dominate the market owing to the growing adoption of self-administered parenteral drugs 
  • The market for prefilled syringe manufacturing is concentrated; nevertheless, innovative technologies in packaging material contributed by new players can be adapted to manufacture auto-injectors

 

Vital Questions Answered

  • How rapidly will the prefilled syringes market grow globally?
  • What are the key factors influencing or restraining the growth of the market?
  • Key regions to focus on?
  • Investigating several aspects of the market with the help of Porter’s five forces analysis
  • Recognising the latest advancements, market shares, and strategies applied by the significant market players

 

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