Prefilled Syringes Market Size to Reach USD 12.76 Billion in 2028 | Emergen Research
Rising prevalence of acute and chronic diseases across the globe, increasing demand for biologics and biosimilars, and rising investments for developing advanced and effective syringes are some key factors expected to drive global Prefilled Syringes market growth.
According to Emergen Research, the global prefilled syringes market size was USD 5.74 billion in 2020 and is expected to reach USD 12.76 billion in 2028 and register a steady revenue CAGR of 10.5% during the forecast period, 2021-2028.
A prefilled syringe is a single-dose packet of drugs such as vaccines, blood stimulants, therapeutic proteins, and erythroproteins that are widely used across healthcare centers to provide greater patient safety and minimize the potential for inadvertent needle sticks and exposure to toxins while taking out medication from the vial. These syringes are widely used during the COVID-19 pandemic to avoid needle-stick injuries or toxin contamination. Factors such as rising adoption of injectable drugs, increasing preference for prefilled syringes over conventional glass ones, high usage of disposable prefilled syringes in hospitals, and ambulatory care centers to cater to rising patient pool, and rising investments in research and development activities are expected to drive global market revenue growth.
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However, lack of prefilled syringes with integrated safety features and rising environmental concerns due to high usage of disposable products are some key factors that can hamper overall market growth to a certain extent during the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Disposable Segment to Account for Largest Revenue Share:
The disposable segment is expected to account for largest revenue share during the forecast period owing to increasing patient admissions, growing inclination toward disposable prefilled syringes to reduce chances of infection and avoid needlestick injury, and rising investments for developing advanced disposable prefilled synergies.
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Plastic Segment To Register Rapid Revenue CAGR:
The plastic segment is expected to register rapid revenue CAGR over the forecast period. This can be attributed to factors such as constant demand for prefilled syringes across hospitals, ambulatory surgery centers, biotechnology, and pharmaceutical companies, high preference for plastic syringes due to effective chemical resistance and physical properties, and low prices as compared to glass syringes.
Europe to Account For Significant Revenue Share:
Europe is expected to account for significant revenue share in the global market owing to factors such as rising incidence of chronic diseases, presence of well-developed healthcare infrastructure and facilities, rapid adoption of advanced technologies, growing demand for prefilled syringes, and increasing number of research and development activities.
Major Companies in the Market Include:
- SCHOTT AG
- Becton, Dickinson, and Company
- Gerresheimer AG
- West Pharmaceutical Services, Inc.
- Medtronic plc
- Catalent, Inc.
- Shandong Weigao Group
- Nipro Corporation
- Unilife Corporation
- Vetter Pharma International GmbH
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For the purpose of the report, Emergen Research has segmented the global prefilled syringes market on the basis of type, material, application, distribution channel, and region:
Type Outlook (Revenue, USD Billion; 2018–2028)
Material Outlook (Revenue, USD Billion; 2018–2028)
Application Outlook (Revenue, USD Billion; 2018–2028)
- Rheumatoid Arthritis
Distribution Channel Outlook (Revenue, USD Billion; 2018–2028)
- Ambulatory Surgery Centers
- Mail Order Pharmacies
- Biotechnology & Pharmaceutical Companies
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Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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