Prefilled Syringes Market 2018 Segments, Trends, Share and Forecast

“Several market players also adopted strategies such as acquisitions and partnerships to expand their presence and increase their visibility in the market. Becton, Dickinson and Company (U.S.), Gerresheimer AG (Germany), SCHOTT AG (Germany), West Pharmaceu”
The global prefilled syringes market is projected to reach USD 6.36 Billion by 2021 from USD 3.93 Billion in 2016, growing at a CAGR of 10.1% between 2016 and 2021. The rising demand for prefilled syringes can be attributed to the growing prevalence of chronic diseases, technological advancements, rising adoption of self-injecting parenteral devices, and implementation of needlestick legislations.

A prefilled syringe is a single-dose packet of medication with a premeasured dose. Some of the categories of drugs packaged in prefilled syringes include biologics, vaccines, blood stimulants, therapeutic proteins, erythropoietin products, and interferons. Safety prefilled syringes, conventional prefilled syringes, and single and dual-chamber prefilled syringes are the types of prefilled syringes commonly used in the healthcare industry.

North America and Europe are major contributors to the growth of the prefilled syringes market and these regions are expected to witness a significant growth during the forecast period. This growth can be attributed to the rising prevalence of chronic diseases, growth in the biologics and biosimilars market, and technological advancements in this region.

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Developing regions such as Asia-Pacific are expected to be the new revenue-generating markets for players engaged in offering prefilled syringe products. The high growth opportunities in the Asia-Pacific region can be attributed to the increasing inclination of people towards self-administration of drugs and high penetration of self-injection devices. In addition, growing aging population, rising prevalence of diabetes, and huge patient population base are other factors driving market growth in this region.

On the basis of material, the prefilled syringes market is categorized into two segments, namely, glass prefilled syringes and plastic prefilled syringes. The plastic prefilled syringes segment is growing at the highest CAGR in the market due to its resistance to breakage, solvents, heat, and cold; environment-friendliness (can be incinerated); and design flexibility.

On the basis of type, the market is segmented into conventional prefilled syringes and safety prefilled syringes. The conventional syringes segment is expected to dominate the market during the forecast period. This growth can be primarily attributed to the comparatively low penetration of safety syringes.

Leading players are also adopting the strategies of new product launches, acquisitions, and partnerships. The market players adopted these strategies to maintain its position in the global market. The market players are also focusing on increasing their product portfolios by expanding their production capabilities and distribution networks to cater to the growing demand for prefilled syringes.

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