Prefilled Syringes Market to Expand at 13.3% CAGR 2013-2019 driven by Growing Demand for Glass Prefilled Syringes
In the injectable drug delivery devices market, the prefilled syringes segment is one of the fastest growing segments. Various benefits of prefilled syringes including reduced risk of cross contamination, and ease of handling and administration have led to their increased demand in the market.
The report states that the continuous growth in the injectable drugs market worldwide has boosted the growth of the global prefilled syringes market. The advantages of prefilled syringes over conventional vials and syringe packing systems have supported the market’s growth. Increase in the demand for point-of-care administration and technological advancements in the manufacturing of prefilled syringes are expected to augment the growth of the market during the forecast horizon. However, the introduction of alternative drug delivery methods might hamper the growth of the market.
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On the basis of material used for the manufacturing of barrel of the syringe, prefilled syringes can be classified into two types: Plastic prefilled syringes and glass prefilled syringes. The glass prefilled syringes are considered as the standard syringes in the industry and hence, this syringe segment dominates the overall market in terms of volume and revenue. However, the market is witnessing the extensive utilization of polymer or plastic by syringe manufacturers.
Key regions in the global prefilled syringes market are Europe, North America, Asia Pacific, and Rest of the World. In terms of revenue and volume, Europe has emerged as the largest regional market for prefilled syringes. During the forecast horizon, North America is projected to witness expansion at a CAGR of 15%. The robust growth of the North America prefilled syringes market can be attributed to the increased shift from vials to prefilled syringes and the presence of some of the key drug manufacturers in the region. While Asia Pacific has been one of the late adopters of prefilled syringes, the region is anticipated to grow rapidly owing to the presence of a large patient pool and the growing awareness about prefilled syringes.
Some of the key players in the global prefilled syringes market are Schott AG, Gerresheimer AG, Becton, Dickinson and Company, Nipro Corporation, Baxter International Inc., Ypsomed Holding AG, Stevanato Group, Unilife Corporation, Bespak, West Pharmaceutical Services, Inc., and Vetter Pharma International GmbH. These players have been profiled on the basis of company overview, product portfolio, and financial overview. For the new and existing players in the market, the report offers strategic recommendations such as the adoption of polymer technology for the manufacturing of prefilled syringes and investments in the emerging markets in North America.
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