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Albany, NY -- (SBWIRE) -- 01/06/2017 -- The U.S. and EU-5 market for prefilled syringe small molecule is projected to register a remarkable growth rate in the coming years due to notable technological innovations. The market will also be encouraged by the rising demand for point of care administration and changing perspectives towards management medical conditions. For instance, several patients are opting for injectable drug delivery techniques, which is projected to drive the U.S. and EU-5 market for prefilled syringe small molecule.
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The fact that usage of prefilled syringes does not require any assistance from trained medical staff, it has eliminated the need for hospitalization, which is benefitting the overall market to a large extent. The research report states that the U.S. and EU-5 prefilled syringes small molecule market will reach a valuation of US$17.1 bn by the end of 2024 from US$9.15 bn in 2015 as the market expands at a CAGR of 6.0 % to 8.0 % during the forecast period of 2016 and 2024.
Development of Biological Products to be an Emerging Trend
The overall market is projected to witness an introduction of a new drug class, which is poised to revolutionize the U.S. and EU-5 prefilled syringes small molecule market. Known as biological products, this drug class requires significantly high investments for both research and development. A score of stability issues and the higher monetary risks are expected to slow down the progress of the global market.
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The new drug class is expected to introduce neurological small molecule drugs prefilled syringes, which will open up several lucrative opportunities for the new as well as existing players during the forecast period. For instance, Sandoz's Glatopa (glatiramer acetate), which has been recently approved by the U.S. FDA has opened up several opportunities for the market in the neurological small molecule drug prefilled syringe segment.
Neurology Drugs Segment Shows Continued Growth due to Lack of Generic Drugs
On the basis of therapeutic class, the U.S. and EU-5 prefilled syringes small molecule has been segmented into cardiovascular drugs, analgesics, neurology drug, and adjuvants. The research report indicated that the neurology drugs segment held a dominant share of more than 44% in the U.S. and EU-5 prefilled syringes small molecule market. Analysts anticipate that the segment is estimated to retain a lead in the overall market during the forecast period as well due to the non-availability of several equivalent generic drugs. The most popularly sold brand in the neurology drugs segment is Copaxone. This segment is expected to play a major role in the growing revenue of the overall market in the coming few years.
The demand for cardiovascular and neurological small molecule prefilled syringes will remain high, thus proving to be a strategic growth driver for the market. This demand will be fueled by the high prevalence of emergency situations that require safe and accurate dose delivery often considered to be self-medication.
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The report indicates that the cardiovascular small molecule prefilled syringe segment held a share of about 26.91% in the U.S. and EU-5 prefilled syringes small molecule market in 2015. Meanwhile, the share of preference adjuvant small molecules in prefilled syringe like dextrose and normal saline for flush stood at 7.16% of the U.S. and EU-5 prefilled syringes small molecule market in 2015. This segment was valued at US$655.4 mn in 2015. The demand for adjuvant small molecule prefilled syringe is expected to grow steadily in the coming years due to a strong presence of several local players and several distributors in the overall market.
The top players operating in the U.S. and EU-5 prefilled syringe small molecule market are Teva Pharmaceutical Industries Ltd., Mylan N.V., Hospira, Inc (Now Pfizer, Inc.), Becton, Fresenius Kabi, Sanofi, and Dickinson and Company.
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