Global Small Molecule Prefilled Syringess Market, By Type (Single-chamber Prefilled Syringes, Dual-chamber Prefilled Syringes, and Customized Prefilled Syringes), By Material Type (Glass and Plastic & Polymer), By Application (Diabetes, Cancer, Opthalmology, Anaphylaxis, Rheumatoid Arthritis and Others (Thrombosis, etc.)), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies and Online Pharmacies), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 18.98 Bn in 2023 and is expected to exhibit a CAGR of 5.2% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Key market players are focusing on adoption of growth strategies such as new product approvals, and this can drive the global small molecule prefilled syringes market growth. For instance, on April 18, 2023, CSL Behring, a pharmaceutical company, announced that the U.S. Food and Drug Administration (FDA) had approved a 50 mL/10 g prefilled syringe for Hizentra (Immune Globulin Subcutaneous [Human] 20% Liquid). CSL Behring offers a full range of prefilled syringe sizes to meet the individual needs of people with primary immunodeficiency (PI) or chronic inflammatory demyelinating polyneuropathy (CIDP). Hizentra is the first and only immunoglobulin (Ig) available in a simple, convenient and ready-to-use pre-filled syringe.
Global Small Molecule 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), which first appeared in Wuhan (province of Hubei, China), in the last months of 2019, as "coronavirus disease 2019" or COVID-19. The virus spreads quickly, and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
The COVID-19 pandemic boosted the global small molecule prefilled syringes market, owing to the possible use of these syringes for COVID-19 vaccines. COVID-19 accelerated the development of prefilled syringes, particularly those for low-temperature storage. For example, in September 2021, Becton, Dickinson, and Company (BD) demonstrated the compatibility of its glass prefilled syringes for use with mRNA COVID-19 vaccine injections that require ultralow temperature storage. According to the company, switching from vials to prefilled syringes can reduce the cost and complexity of vaccination delivery. As a result of the COVID-19 pandemic outbreak in 2020, global sales of prefilled syringes skyrocketed. The primary factors driving the market expansion include rising demand for efficient and simple-to-use drug delivery systems, as well as increased efforts by healthcare professionals to eliminate hospital errors.
Global Small Molecule Prefilled Syringess Market: Key Developments
On September 12, 2023, AbbVie Inc., a pharmaceutical company, announced topline results from the phase 3 SEQUENCE clinical trial evaluating risankizumab (SKYRIZI, 600 mg intravenous [IV] induction at weeks 0, 4 and 8 and 360 mg subcutaneous injection [SC] starting at week 12 and every 8 weeks thereafter ) as compared to ustekinumab (STELARA, IV dose at Week 0 and 90 mg SC every 8 weeks thereafter) through Week 48 in patients with moderately to severely active Crohn's disease who have failed one or more anti-TNFs. SKYRIZI is available in a 150 mg/ml pre-filled syringe and pen, a 600 mg/10 ml vial for intravenous infusion and a 180 mg/1.2 ml or 360 mg/2.4 ml vial -Vial available. body injector.
On January 13, 2023, Purdue Pharma L.P., a privately held pharmaceutical company, announced that the U.S. FDA had accepted and granted priority review to the company's Abbreviated New Drug Application (ANDA) for nalmefene hydrochloride (HCI) injection, 2 mg/2 mL (1 mg/1 mL) prefilled syringe. Nalmefene is listed as opioid antagonist indicated for the complete use or partial reversal of the effects of opioid medications including respiratory depression caused by natural or synthetic opioids, and in the treatment of known or suspected opioid overdoses.
In October 2022, Recipharm AB, a global contract development and manufacturing organization (CDMO), invested in a new high-speed filling line for prefilled syringes and cartridges at its Wasserburg, Germany to respond to increased customer demand for the high-growth filling formats. As part of an ongoing investment and expansion program across the company, this investment will further enhance Recipharm AB’s comprehensive manufacturing offering for injectable products that require sterile filling.
Browse 36 Market Data Tables and 26 Figures spread through 180 Pages and in-depth TOC on “Global Small Molecule Prefilled Syringes Market”- Forecast to 2030, Global Small Molecule Prefilled Syringess Market By Type (Single-chamber Prefilled Syringes, Dual-chamber Prefilled Syringes and Customized Prefilled Syringes), By Material Type (Glass and Plastic & Polymer), By Application (Diabetes, Cancer, Opthalmology, Anaphylaxis, Rheumatoid Arthritis and Others (Thrombosis, etc.)), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies and Online Pharmacies), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/small-molecule-prefilled-syringes-market-1629
Key Takeaways of the Global Small Molecule Prefilled Syringes Market:
- Global small molecule prefilled syringes market is expected to exhibit a CAGR of 5.2% during the forecast period. The increasing product advancements in emerging economies offers lucrative growth opportunities for players in the global small molecule prefilled syringes market.
- Among application, the diabetes segment is expected to hold a dominant position in the global small molecule prefilled syringes market during the forecast due to increasing prevalence of chronic diseases such as diabetes. For instance, in 2021, according to the International Diabetes Federation (IDF), around 537 Mn adults between the ages of 20 and 79 lived with diabetes in 2021. According to the same source, the number of people with diabetes is expected to increase to 63 Mn by 2030 and 783 Mn by 2045.
- Among region, North America is expected to be the dominant region in the global small molecule prefilled syringes marketas key players are focusing on organic strategies such as product advancements. For instance, in October 2022, West Pharmaceutical Services, Inc., a global manufacturer of innovative injectable drug delivery solutions, attended the 2022 Parenteral Drug Association (PDA) Universe of Prefilled Syringes and Injection Devices Conference and presented the development of large-volume delivery systems. Therefore, such developments in the country are expected to boost market growth.
- Major players operating in the global small molecule prefilled syringes market are BD, Cytiva, Merck KGaA, Gaplast, Ascendia Pharmaceuticals, Sanofi, Viatris Inc. (Mylan N.V.), Pfizer Inc., Dr. Reddy’s Laboratories Ltd., Fresenius Kabi AG and McKesson Corporation
