Prefilled Syringes Market Value to hit $9.7 Billion by 2025: Global Market Insights, Inc.
SELBYVILLE, Delaware, July 29, 2019 /PRNewswire/ -- North America prefilled syringes market is anticipated to witness around 10% growth in forthcoming future. Increasing prevalence of chronic diseases such as diabetes and cancers will positively impact the regional growth. Preloaded syringes have crucial role in efficient and accurate drug administration necessary in the treatment of such diseases. As a result, increasing prevalence of chronic diseases will augment demand for superior quality drug administration's techniques, thereby proving beneficial for North America prefilled syringes market growth.
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Plastic segment of prefilled syringes market is anticipated to witness more than 12% CAGR over the analysis timeframe. Plastic is an excellent material for substances such as peptide drug and pharmaceutical protein. Plastics solves the problem of breakage and flexibility associated with glass. It also exhibits excellent adsorption properties. Although, glass is currently preferred, manufacturers are shifting towards plastic materials that will prove beneficial for segment growth.
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Single-chamber segment accounted for more than USD 4 billion revenue in 2018 and it is anticipated to witness significant growth over analysis timeframe. Single-chamber prefilled syringes provide safety and simplifies needle stick protection. Needle stick protection aids doctors and patients from injuries. Moreover, optimized API usage, less drug wastage and reduced material requirement increases its preference. Aforementioned factors will accelerate its demand exceeding the segment revenue over the forecast period.
Global Prefilled Syringes Market revenue crossed USD 4.9 billion in 2018 and estimated to exceed USD 9.7 billion by 2025; according to a new research report by Global Market Insights, Inc. Increasing prevalence of chronic diseases such as diabetes and rheumatoid arthritis will positively impact prefilled syringes market growth. These chronic diseases need prolonged drug administration in accurate dosage. Excess drug administered through injectables may adversely alter metabolism. Pre-fill syringes enable patients to inject appropriate amount of dosage. They also eliminate complicated process of transferring drugs from container into syringe. Moreover, prepopulated syringes also assist aged people in easy drug administration. Ease of usage associated with prefilled syringes will serve as a high impact rendering factor.
Increasing adoption of biological drugs will fuel prefilled syringes market growth. Biologics are used in treatment of several chronic diseases. These drugs comprise of complex molecular structures sensitive to environmental and temperature conditions. They can also interact with pharmaceutical containers to product undesired substances. Prefilled syringes provide accurate dimensions and enable prevention of interaction amongst container and drug substance. However, availability of alternative drug delivery methods may hamper industry growth to certain extent.
Browse key industry insights spread across 135 pages with 90 market data tables & 8 figures & charts from the report, "Prefilled syringes Market Size By Type (Glass, Plastic), By Design (Single-chamber, Dual-chamber), By Applications (Diabetes, Rheumatoid Arthritis, Anaphylaxis, Antithrombotic/thrombolytic therapy), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Japan, China, India, Australia, South Korea, Brazil, Mexico, Argentina, South Africa, Saudi Arabia,), Application Potential, Competitive Market Share & Forecast, 2019 - 2025" in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/prefilled-syringes-market
Anaphylaxis segment of prefilled syringes market accounted for more than 18% revenue share in 2018 and it is anticipated to witness robust growth in analysis timeframe. Increasing incidences of anaphylaxis across the globe will prove beneficial for the segment growth. Anaphylaxis is life-threatening allergic reaction triggered due to certain medications, foods or venoms. It causes low blood pressures, dizziness or nausea. Prefilled syringes are cost effective alternative to existing auto-injectors for anaphylaxis treatment. These syringes prevent negative drug reactions and enhance clinical outcomes. Rising incidences of anaphylaxis will augment demand for prefilled syringes, thereby propelling segment growth.
Notable industry players operational in prefilled syringes market are Becton Dickinson (BD), SCHOTT, OMPI, Fresenius Kabi, Catalent, Medpro, Stevanato Group, Novartis, Mylan, Weigao, Gerresheimer, Terumo and Nipro. Industry players are implementing strategic initiatives such as product launches, collaborations, geographic expansions, mergers and acquisitions in order to grab higher market share. For instance, in Feb 2019, Gerresheimer launched Gx Prefillable glass needle syringes. Innovative product launches will enable company to grab more market share and gain competitive edge. In December 2018, Terumo launched PLAJEX pre-fillable syringes. The product launch expected to help the company to capture higher revenue share.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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SOURCE Global Market Insights, Inc.
