Global Prefilled Syringes Market, by Material (Glass, Plastic/Polymer), by Drug Type (Biologics, Vaccines, Insulin, Anticoagulants, Flush Saline Syringes and Others), by Design (Single-chamber, Dual-chamber, and Multi-chambered), by Product Type (Staked in-needle pre-filled syringes and Needle-free pre-filled syringes), by Usability (Disposable and Reusable), by Manufacturing Method (Captive and Merchant), by End User (Hospitals, Clinics, Ambulatory Surgical Centers and Others), by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 6.44 billion in 2023 and is expected to exhibit a CAGR of 5.6% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
The increasing number of acquisitions between market players is expected to drive market growth over the forecast period. For instance, in May 2021, Nipro Europe Group Companies, a part of Nipro Corporation, a global healthcare company, announced that its overseas subsidiary Nipro Pharmapackaging International N.V had acquired Piramida d.o.o, a pharmaceutical glass container (ampoules, vials) manufacturing and sales company. Nipro Europe Group Companies will be able to enter untapped areas and increase its market share across all of Europe by acquiring Piramida d.o.o.
Global Prefilled Syringes Market – Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) that first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019," or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and health of every country in the world.
However, the COVID-19 had positive impact on global Prefilled Syringes Market, owing to various biopharmaceutical companies and government organizations adopting strategies to research, develop, and distribute the COVID-19 vaccines in prefilled syringes that will drive the market growth over forecast period. For instance, in May 2020, the Department of Defense and the U.S. Department of Health and Human Services, announced a US$ 138 million contract with ApiJect Systems America for “Project Jumpstart” and “RAPID USA.” This contract will support “Jumpstart” to create a U.S.-based, high-speed supply chain for prefilled syringes beginning in the year 2022 by using a well-established Blow-Fill-Seal (BFS) aseptic plastics manufacturing technology that is suitable for combatting COVID-19.
Global Prefilled Syringes Market: Key Developments
For instance, in August 2022, the U.S. FDA granted approval for epinephrine injection, 1 mg/10 ml (0.1 mg/ml) single dose prefilled syringe to Amphastar Pharmaceuticals, Inc., a biopharmaceutical company. Epinephrine injection is indicated to increase mean arterial blood pressure in adult patients with hypotension associated with septic shock.
In April 2022, Nevakar Injectables, Inc., a wholly owned subsidiary of Nevakar, Inc., announced that the U.S. Food and Drug Administration had approved its ready-to-use Ephedrine Sulfate Injection in a prefilled syringe. Ephedrine is a widely used injectable vasopressor agent indicated for the treatment of clinically important hypotension occurring during surgery.
For instance, in February 2021, Fresenius SE & Co. KGaA, a multinational healthcare company, invested US$ 63.7 million in its Austrian facilities to expand capacity and upgrade infrastructure at its production plant in Graz, Austria and packaging center in nearby Werndorf, Austria. The facilities will focus on the freeze-drying area and the lines for filling and packing glass bottles and ready-to-administer prefilled syringes.
In April 2020, Bayer AG, a multinational pharmaceutical and biotechnology company, received European Commission approval for Eylea (aflibercept) in a pre-filled syringe (PFS) for treating retinal conditions. Eylea is cleared for five indications, including the treatment of wet age-related macular degeneration (wet AMD) and the treatment of visual impairment due to: macular oedema following retinal vein occlusion (RVO; branch RVO or central RVO), diabetic macular oedema (DMO and myopic choroidal neovascularisation (myopic CNV)).
Browse 70 Market Data Tables and 51 Figures spread through 401 Pages and in-depth TOC on “Global Prefilled Syringes Market, by Material (Glass, Plastic/Polymer), by Drug Type (Biologics, Vaccines, Insulin, Anticoagulants, Flush Saline Syringes and Others), by Design (Single-chamber, Dual-chamber, and Multi-chambered), by Product Type (Staked in-needle pre-filled syringes and Needle-free pre-filled syringes), by Usability (Disposable and Reusable), by Manufacturing Method (Captive and Merchant), by End User (Hospitals, Clinics, Ambulatory Surgical Centers and Others), by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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https://www.coherentmarketinsights.com/market-insight/prefilled-syringes-market-162
Key Takeaways of the Global Prefilled Syringes Market:
- The Global Prefilled Syringes Market is expected to exhibit a CAGR of 5.6% during the forecast period. The increasing product launches of prefilled syringes by key players in the market is expected to drive the segment growth over the forecast period. For instance, In March 2020, Dr. Reddy’s Laboratories Ltd., a multinational pharmaceutical company, announced the launch of Naloxone Hydrochloride Injection USP, 2 mg/2 mL (1 mg/mL) Single-dose Prefilled Syringe, a therapeutic equivalent generic version of Narcan (naloxone hydrochloride) Injection USP, approved by the U.S. Food and Drug Administration. Narcan is a trademark of ADAPT Pharma Operations Limited, a developer of therapeutic treatments for medical patients.
- In terms of Material, Plastic/Polymer segment is estimated to hold a dominant position in the global Prefilled Syringes Market over the forecast period. Owing to the increasing demand and availability of polymer syringes. For instance, according to article published in June 2021, by BioPharm International, demand for prefilled syringes has increased globally due to the advantages of prefilled syringes such as it saves time, minimizes the risk of injection errors, dilution errors, or non-sterility issues, and so on. According to the same source, plastic prefilled syringes are approved by the U.S. Food and Drug Administration.
- Among regions, North America, is expected to be the most dominant region in the global Prefilled Syringes Market, owing to increasing product approvals by regulatory authorities. For instance, on February 17, 2023, Zephyrus Innovations (Zephyrus Bioscience), a medical device company, announced that it had received marketing approval for Aeroject 3ml pre-filled safety syringe from the U.S. Food and Drug Administration.
- Major players operating in the global prefilled syringes market includes Gerresheimer AG, Becton Dickinson and Company, West Pharmaceutical Services, Inc., Terumo Corporation, Nipro Europe Group Companies, B. Braun SE, Sanofi, GSK plc., Pfizer Inc., Bayer AG, Polymedicure, Amsino International, Inc., Leeford Healthcare Limited, Torrent Pharmaceuticals Ltd., Regeneron Pharmaceuticals Inc., Ypsomed AG, SOL-Millennium, and Stevanato Group S.p.A.
