SMALL MOLECULE PREFILLED SYRINGES MARKET ANALYSIS

Market Challenges And Opportunities

Global Small Molecule Prefilled Syringes Market– Drivers

• Increasing incidence of chronic diseases: Increasing prevalence of chronic diseases is expected to drive growth of global small molecule prefilled syringes market. For instance, in June 2021, according to the fact sheet published by World Health Organization (WHO), , in 2019, an estimated 17.9 Mn people died from cardiovascular disease, accounted 32% of all global deaths. Among which, 85% of these deaths were due to heart attacks and strokes. Heart disease is the main cause of death in the U.S,for men, women, and people of most racial and ethnic groups. In theU.S., one person dies from cardiovascular disease every 33 seconds. In 2021, over 695,000 people in the U.S.died from heart disease thataccounted for one out of every five deaths.
• Increasing product launch by market players: The main benefits of prefilled syringes over conventional drug delivery systems are the improved product safety, self-administration, accurate dosing, and low chances of drug contamination. Self-injection advantage of prefilled syringes is a major factor that boosts adoption of the prefilled syringes, thus, drives growth of the global small molecule prefilled syringe market. For instance, in July 2022, Fresenius Kabi AG, a global healthcare company, expanded its simplist ready-to-administer prefilled syringe portfolio by launching adenosine injection in prefilled syringes that is indicated for the treatment of tachycardia.

Global Small Molecule Prefilled Syringes Market: Restraint

• Product recall: The regulatory authorities are recalling some prefilled syringes due to increase in their adverse effects such as causing embolism in the body, and this is expected to hinder growth of global small molecule prefilled syringes market over the forecast period. For instance, in August 2021, the U.S. Food and Drug Administration identified monoject flush prefilled syringes (0.9% sodium chloride) as a Class I recall, and the most serious type of recall and use of these devices may cause serious injuries or even death. Monoject flush prefilled syringes was marketed by Cardinal Health, a U.S. -based multinational health care services company.
• Counterbalances: To overcome the challenges faced due to product recall, the manufacturing companies are expected to upgrade or standardize the production processes of the prefilled syringes to ensure safety and security for the patients.