Global prefilled syringes market is expected to reach approximately USD 6.00 billion by 2021, growing at a CAGR of around 9.5% between 2016 and 2021
Sarasota, FL -- (SBWIRE) -- 03/15/2017 -- Zion Market Research has published a new report titled "Prefilled Syringes Market (Glass-Based Prefilled Syringes and Plastic-Based Prefilled Syringes) for Insulin, Vaccines, and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021". According to the report, the global prefilled syringes market was valued at around USD 3.50 billion in 2015 and is expected to reach approximately USD 6.00 billion by 2021, growing at a CAGR of around 9.5% between 2016 and 2021. The prefilled syringes volume market stood at approximately 4.10 billion units in 2015 and is expected to reach around 6.70 billion units by 2021.
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Prefilled syringe are designed to administer various fluid medications. Pre-filled syringes used in wide range of therapeutic sectors, such as blood stimulants, vaccines, and therapeutic proteins. Pre-filled syringes make injections easier and safer as well as with a pre-filled syringe, a patient always receives the right dosage. The prefilled syringes are available in different types such as single chambered syringes, dual chambered syringes, and customized syringes.
Prefilled syringes play an important role in injectable drug delivery devices market. The market is mainly driven by rapid growth in the biologics market, and the increasing preference for self-administration using prefilled syringes, pen injectors, and auto-injectors. Moreover, prefilled syringes offer several benefits such as ease of administration, accurate dosing, and reduced risk of contamination. There are several benefits of prefilled syringes over traditional delivery systems: improved safety, accurate dosing, ease of administration, and reduced risk of contamination. These advantages form the basic foundation for the success of prefilled syringes and are likely to continue driving the market during the forecast period. However, the presence of alternative drug delivery means and the high cost associated with the production of prefilled syringes may hamper the market growth in the years to come. Nonetheless, technical advances in the sector are expected to open up new growth avenues within the forecast period.
Glass-based prefilled syringes and plastic-based prefilled syringes are key types in the prefilled syringes market. Glass-based prefilled syringes accounted for the large chunk of market share in terms of revenue in 2015. This growth is mainly due to the glass being the preferred material due to its favorable properties such as transparency, robustness, strength and chemical inertness. However, plastic-based prefilled syringes is another key outlet and are expected to be witness fastest growth on account of technological advancement of polymer technology based plastics used to manufacture prefilled syringes.
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On the basis of applications, the market can be segmented into insulin, vaccines, and others. Vaccines and insulin collectively held the largest market share in the prefilled syringes market due to increasing prevalence of chronic diseases such as diabetes, which requires insulin administration on a daily basis. Thus, insulin segment is expected to show significant growth in the years to come.
Europe dominated the prefilled syringes market and is expected to maintain its position as the leading regional market for prefilled syringes in terms of revenue. This growth is attributed to the high rate of prefilled syringes adoption in this region. Asia Pacific market for prefilled syringes is expected to show robust growth at a CAGR of around 11 % within the forecast period. Japan held the major share in the market by revenue as well as volume in 2015. North America is also expected to show significant growth over the next few years.
Some of the key players in the market such as Becton, Dickinson & Company, Baxter International, Inc., Bespak, Unilife Corporation, Stevanato Group, Nipro Corporation, Gerresheimer AG, Schott AG, West Pharmaceutical Services, Inc., Vetter Pharma International GmbH and others.
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This report segments the global prefilled syringes market as follows:
Global Prefilled Syringes Market: Type Segment Analysis
Glass-Based Prefilled Syringes
Plastic-Based Prefilled Syringes
Global Prefilled Syringes Market: Application Segment Analysis
Global Prefilled Syringes Market: Regional Segment Analysis
The Middle East and Africa
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