SAN FRANCISCO, May 5, 2022 /PRNewswire/ -- The global prefilled syringes market size is anticipated to reach USD 50.83 billion by 2030, expanding at a CAGR of 11.95% from 2022 to 2030, according to a new report by Grand View Research, Inc. Key factors driving the market expansion include technological advancements in auto-injectors and growing usage of prefilled syringes owing to its reduced prices per dose.
Key Insights & Findings from the report:
- In terms of revenue, the disposable prefilled syringes segment accounted for the largest market share of 78.98% in 2021. This is owing to a high preference for patient safety, which has led to a rise in the use of disposable prefilled syringes in hospitals and home care settings.
- The glass syringes segment dominated the market with around 53.27% of the revenue share in 2021, because most glass prefilled syringes may administer highly viscous drugs along with can be utilized across a wide range of therapeutic areas, such as vaccines, blood therapeutic proteins, and stimulants.
- Diabetes segment captured the largest market share with around 53.75% in 2021. Increasing prevalence of diabetes globally along with the government initiatives.
- The hospitals segment captured the largest market share with around 52.39% in 2021. The growth of this segment can mainly be attributed to increasing in the number of patients suffering from various chronic ailments and the consequent rise in surgical procedures.
- Asia Pacific was the fastest-growing market for prefilled syringes with a growth rate of 12.96%, owing to the increasing patient population and rapid adoption of prefilled syringes in this region.
- Prominent key players present in the prefilled syringes market are Gerresheimer AG, Schott Group, BD, Unilife Corporation, Nipro Medical Corporation, Owen Mumford, and Haselmeier AG.
Read 110-page market research report, "Prefilled Syringes Market Size, Share & Trends Analysis Report By Type (Disposable, Reusable), By Material (Glass Syringes, Plastic Syringes), By Application (Anaphylaxis, Diabetes), End Use, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.
Prefilled Syringes Market Growth & Trends
The current COVID-19 outbreak is expected to have a substantial impact on the industry. The pandemic has resulted in a significant surge in demand for emergency supplies, medical disposables, medicines, and hospital equipment. According to American Pharmaceutical Review in December 2021, COVID-19 vaccines are being created at an unprecedented rate in response to the worldwide pandemic. COVID-19 vaccination doses totaled 7.3 billion by November 9, 2021, with approximately 30.3 million doses provided daily.
As a result of COVID-19, there has been an increase in the production of COVID-19 vaccines, resulting in increased demand for prefilled syringes. For instance, in March 2022, Schott announced further investments in its pharma sector, including expanding its capacity in Hungary for prefillable glass syringe production. The increased capacity is likely to benefit the global market and provide greater supply security for major pharmaceutical corporations and contract manufacturing firms. As a result, due to the outbreak of coronavirus infection in 2020, sales of prefilled syringes increased globally.
Furthermore, emergency syringes used to treat some of COVID-19's most significant side effects such as heart damage have historically been scarce. Despite the heightened demand during the outbreak, manufacturers provide various programs that identifies high-quality, protected supply bases for medications that are or could be added to the national drug scarcity list. For instance, in October 2019, Premier Inc. teamed up with Amphastar Pharmaceuticals, Inc. to provide phytonadione injection and emergency, pre-filled syringes of sulphate, dextrose, sodium bicarbonate, epinephrine, atropine, calcium chloride, and lidocaine to healthcare practitioners through its ProvideGx programme. These characteristics are projected to generate lucrative market growth prospects.
Prefilled Syringes Market Segmentation
Grand View Research has segmented the global prefilled syringes market on the basis of type, material, application, distribution channel, and regions:
Type Outlook (Revenue, USD Million, 2017 - 2030)
- Disposable Prefilled Syringes
- Reusable Prefilled Syringes
Material Outlook (Revenue, USD Million, 2017 - 2030)
- Glass Prefilled Syringes
- Plastic Prefilled Syringes
Application Outlook (Revenue, USD Million, 2017 - 2030)
- Rheumatoid Arthritis
Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)
- Mail Order Pharmacies
- Ambulatory Surgery Centers
Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
List of Key Players in Prefilled Syringes Market
- Gerresheimer AG
- Schott Group
- Unilife Corporation
- Nipro Medical Corporation
- Owen Mumford
- Haselmeier AG
- BD & Others
Check out more related studies published by Grand View Research:
- Smart Syringes Market - The global smart syringes market is expected to reach USD 10.2 billion in 2024, according to a new report by Grand View Research, Inc. In 2015, Some key factors driving the market include the rise in the patient population, the increasing number of needle stick injuries, and the spread of diseases due to unhygienic injection practices.
- Disposable Syringes Market - The global disposable syringes market size is anticipated to reach USD 22.81 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand due to the increasing adoption of safety syringes, technological advancements, increasing demand for vaccines along with growing adoption of self-administration of drugs are supporting the market growth of disposable syringes.
- Dental Syringes Market - The global dental syringes market size is expected to reach USD 10.85 billion by 2026, registering a CAGR of 4.8% over the forecast period, according to a new report by Grand View Research, Inc. Increasing product innovations are expected to drive the market growth.
Browse through Grand View Research's Medical Devices Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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