A CAGR of 8.7% has been projected for the global dual chamber prefilled syringes market during the forecast period, 2017 to 2026, according to a new study of Fact.MR.
Rockville, MD -- (SBWIRE) -- 03/02/2018 -- According to Fact.MR's recently collated research report, a spectacular growth has been envisaged for the global dual chamber prefilled syringes market in the forecast period (2017-2026). Worldwide sales of dual chamber prefilled syringes are poised to bring in approximately US$ 3,300 Mn revenues by 2026-end.
Dual Chamber Prefilled Syringes – Efficient Solution for Reconstituting Lyophilized Drugs during Administration
There has been an incessant requirement for reconstituting the lyophilized drugs during their administration, along with growing necessity of tackling potential compliance and safety issues associated with the reconstitution. This has further led to the development of syringes that are capable of curtailing number of steps required for the reconstitution of drugs and making them available for injection. Dual chamber prefilled syringes are the most efficient solution to cater this requirement, as they enable immediate reconstitution within the syringe just prior to injection. Dual chamber prefilled syringes seek widespread utilization in storing biological substances and active pharmaceutical components, which cannot retain their stability for extended duration. These devices enable elimination of drug loss through maintenance of the drugs' sterility prior to injection. Advancements in technology have resulted into improvements in the arrangement of liquid components in the syringes and injectors, while attracting more patients in opting for these efficient & safe syringes.
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Lyophilized drugs have represented a robust penetration worldwide in the recent past. Lyophilized drugs account for largest share of all reconstitution-requiring injectable/infusible drugs. As a large number of injectable/infusible drugs have been developed for self-administration, special challenges are incurred for the drug developers. However, dual chamber prefilled syringes, which are particularly designed for simplifying reconstitution devoid of patient handling of diluent or drug, have become the mainstay option for delivering these drugs, meanwhile curtailing challenges faced by developers. With lyophilized drugs witnessing proliferated penetration, demand for dual chamber prefilled syringes will gain a significant upsurge in the foreseeable future.
5 Key Takeaways from Fact.MR's Report on Dual Chamber Prefilled Syringes Market for Forecast Period 2017-2026
1- Sales of dual chamber prefilled syringes are expected to record the fastest expansion in online pharmacies through 2026, trailed by retail pharmacies that will account for a relatively larger market revenue share than online pharmacies by 2026-end.
2- In terms of revenues, hospital pharmacies will continue to be the leading contributor to the global dual chamber prefilled syringes market.
3- Based on product material, glass prefilled syringes are anticipated to remain sought-after in the market, with sales projected to exceed US$ 2,000 Mn in revenues by 2026-end. Plastic prefilled syringes will exhibit a relatively higher CAGR in the market through 2026.
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4- On the basis of product type, conventional prefilled syringes are expected to account for the lion's share of the market during 2017 to 2026. Safety prefilled syringes will account for nearly 30% revenue share of the market through the forecast period.
5- North America is likely to prevail as the fast-expanding as well as the most lucrative market for dual chamber prefilled syringes, followed by Europe. Asia-Pacific excluding Japan (APEJ) will also account for a major chunk of the market's revenue share during the forecast period.
With trends of surging demand for self-injection syringes, and the development of advanced dual chamber prefilled syringes, major players in the market have directed their concentration toward product portfolio expansion. In this rapidly evolving and highly competitive market, several players are emphasizing on essentiality of the up-to-date information, in a bid to monitor their performance and make critical decisions apropos to profitability & growth. Few market players are also focusing on improvements in design of the dual chamber prefilled syringes in order to enhance the stability as well as safety of various sensitive drugs. Key players actively underpinning the market growth, as profiled by Fact.MR's report, include Pfizer Inc., Amgen Inc., Boehringer Ingelheim GmbH, Nipro Corporation, Vetter Pharma-Fertigung GmbH & Co. KG, Gerresheimer AG, Ypsomed Holding AG, West Pharmaceutical Services, Inc., Schott AG, Otsuka America Pharmaceutical, Inc., Credence MedSystems, Inc., Catalent, Inc., and Bespak Europe Ltd.
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