Safety Prefilled Syringe Market is estimated to be US$ 7.8 Billion by 2029 with a CAGR of 7.9% during the forecasted period.

Safety Prefilled Syringe Market is estimated to be US$ 7.8 Billion by 2029 with a CAGR of 7.9% during the forecasted period.

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Safety Prefilled Syringe Market accounted for US$ 3.7 billion in 2019 and is estimated to be US$ 7.8 billion by 2029 and is anticipated to register a CAGR of 7.9%.Prefilled syringes are mainly ready-to-use pharmaceutical products. They are used to provide medication to the patients. Safety prefilled syringes are disposable or reusable syringes which enclose substance or liquid use to administer to a patient. These syringes help to deliver the precise dose of the drug and aid in avoiding the chances of overdosing. Further, they are also utilized to deliver vaccines where the precise dose is needed. Due to the rapid adoption of technology, the European market for prefilled syringes is comparatively more mature compared to the US market. A number of key players are involved in the manufacturing of the advance syringes which would enhance the route of the administration of the drug.

The report "Global Safety Prefilled Syringe Market, By Type (Disposable Prefilled Syringes and Reusable Prefilled Syringes), By Barrel Type (Dual Chambered, Customized Prefilled Syringes, and Single Chambered), By Product Type (Plastic-based Prefilled Syringes and Glass-based Prefilled Syringe), By Application (Hormonal Disorders, Oncology, Auto-immune Diseases, Diabetes, Anemia, and Other), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2029”.

Key Highlights:

·         On October 2019, Gerresheimer launched a glass innovation and technology center in the U.S. Gerresheimer is boosting innovation in primary packaging glass products, pharmaceutical glass, technologies and digitized processes. In the future, highly qualified engineers at the recently opened “Gx Glass Innovation and Technology Center” will develop innovative solutions for the pharmaceutical sector that meet todays and future demand of the pharma industry.

·         On March 2019, Gerresheimer AG build a new plant in Skopje, Republic of North Macedonia. As part of the company’s growth strategy, the company is expanding their European production network. They will build a new plant in Skopje to produce plastic systems for both the pharmaceutical industry and the medical technology sector as well as prefillable syringes.

Analyst View:

Rising prevalence of the various chronic diseases such as cancer, diabetes, hormonal diseases and others is the major factor boosting growth of the global safety prefilled syringe market. According to the data published by WHO, in 2016, 422 million people globally are suffering from diabetes. Further, rapidly growing occurrence of several diseases has increased the demand for the better treatment option and eventually supported the growth of the target market.In addition, rising government support, increasing healthcare expenditure, and growing preference by individuals for vaccines has driven the growth of the global market. Advancement in biopharmaceutical industry has led to progressive impact on the demand for safety prefilled syringes as they help to reduce the loss of potency while transferring biopharmaceuticals in different containers. Few biological drugs that are possibly packed in prefilled syringes include small, as well as large, molecules such as monoclonal antibodies and antibody drug conjugates.

Key Market Insights from the report:        

The global safety prefilled syringe market accounted for US$ 3.7 billion in 2019 and is estimated to be US$ 7.8 billion by 2029 and is anticipated to register a CAGR of 7.9%. The market report has been segmented on the basis of type, barrel type, product type, application, and region.

·         By type, the disposable segment dominates the global market in 2019 and is projected to maintain dominant in the coming years due to its wide applications.

·         By barrel type, the global market is classified into dual chambered, customized prefilled syringes, and single chambered.

·         By product type, glass-based prefilled syringe led the market in 2019. However, plastic segment is projected to lead segment and dominate with a larger revenue share in the coming years.

·         By application, diabetes witnesses the highest market share in 2019. Need for effective and safer insulin delivery devices owing to increasing prevalence of the disease are the factors augmenting the segment development.

·         By region, Europe is presently leading the global market due to increasing demand for prefilled syringes in the region. Additionally, strong presence of major market players such as Schott Group, Gerresheimer AG, and Owen Mumford Ltd. is also likely to help propel the region’s growth.

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Competitive Landscape:

The prominent player operating in the global safety prefilled syringe market includes Schott AG, Gerresheimer AG, West Pharmaceutical Services, Inc., Becton, Dickinson and Company, Vetter Pharma International GmbH, Catalent, Inc., Shandong Weigao Group Medical Polymer Company Limited, Nipro Corporation, Medpro, Inc., and Stevanato Group SpA.

The market provides detailed information regarding industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory framework across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included into the report.


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