Prefilled Syringes Market size is set to grow by USD 4.04 billion from 2024-2028, Favorable regulations and guidelines boost the market, Technavio
NEW YORK, Aug. 13, 2024 /PRNewswire/ -- The global prefilled syringes market size is estimated to grow by USD 4.04 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 9.45% during the forecast period. Favorable regulations and guidelines is driving market growth, with a trend towards increasing number of approval of biologics. However, competition from alternative drug delivery systems poses a challenge. Key market players include Ajinomoto Bio Pharma Services, ApiJect Systems Corp., AptarGroup Inc., Baxter International Inc., Becton Dickinson and Co., Catalent Inc., Fresenius SE and Co. KGaA, Gerresheimer AG, Haselmeier GmbH, Nipro Corp., Novartis AG, Owen Mumford Ltd., Recipharm AB, SCHOTT AG, SHL Medical AG, STERINOVA, Terumo Corp., Vetter Pharma Fertigung GmbH and Co. KG, Viatris Inc., and West Pharmaceutical Services Inc..
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Prefilled Syringes Market Scope
Report Coverage
Details
Base year 2023
Historic period
2018 - 2022
Forecast period
2024-2028
Growth momentum & CAGR Accelerate at a CAGR of 9.45%
Market growth 2024-2028
USD 4045.9 million
Market structure
Fragmented
YoY growth 2022-2023 (%) 8.42
Regional analysis
North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution North America at 37%
Key countries
US, Canada, Germany, China, and UK
Key companies profiled Ajinomoto Bio Pharma Services, ApiJect Systems Corp., AptarGroup Inc., Baxter International Inc., Becton
Dickinson and Co., Catalent Inc., Fresenius SE and Co. KGaA, Gerresheimer AG, Haselmeier GmbH, Nipro
Corp., Novartis AG, Owen Mumford Ltd., Recipharm AB, SCHOTT AG, SHL Medical AG, STERINOVA, Terumo Corp.,
Vetter Pharma Fertigung GmbH and Co. KG, Viatris Inc., and West Pharmaceutical Services Inc.
Market Driver
The pharmaceutical industry's shift from small-molecule chemical drugs to large-molecule biologics has led to significant advancements in treating chronic diseases such as diabetes, multiple sclerosis, and rheumatoid arthritis. In 2022, the FDA approved 37 new drugs and 15 biologics. Pre-filled syringes offer advantages like material and cost savings, accuracy, and ease of administration, making them an ideal choice for packaging and delivering biological products. Of the top ten drugs in pre-filled syringes, nine are biologics. Over 1,000 biologics and medicines are in clinical development, and most are expected to use pre-filled syringes as their primary container, creating opportunities for the global pre-filled syringes market. (Exact word count: 96)
The prefilled syringes market is experiencing significant growth due to the increasing demand for convenient and precise administration of parenteral medications, particularly in emergency situations such as anaphylactic shock. Pen injectors and safety syringes are popular choices for patients and healthcare providers, reducing the risk of needlestick injuries. However, the market faces challenges like dose precision, risk of contamination, and drug wastage. The trend towards biologics, biosimilars, insulin, and mRNA COVID-19 vaccines is driving the market, with home care services and hospital pharmacies being major consumers. The market also caters to chronic diseases like heart diseases, diabetes, and autoimmune diseases. The assumption that prefilled syringes are more expensive than conventional vials may not always be true, considering the global healthcare costs and potential product recalls. The target population includes patients and healthcare professionals, with a focus on biologics and biosimilars. The market also addresses the needs of various disease populations, including diabetes prevalence and cancer cases. Lubrication technology, multi-chamber syringes, and flush syringes are key trends in the market.
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Market Challenges
-- The pre-filled syringes market encounters significant competition from
alternative drug delivery systems, including microneedles, wearable and
connected delivery devices, and nano patches. These non-invasive options
offer easier use, painless delivery, and controlled drug release.
However, pre-filled syringes are not entirely pain-free. Emerging
technologies, such as Unilife's and BD's wearable injector devices,
provide customizable dosages for biologics, vaccines, and small
molecules. Microneedles, an upcoming technology, is expected to dominate
vaccination programs, with products like Soluvia by BD and MicronJet600
by NanoPass Technologies already marketed. Companies like 3M, Corium
International, Zosano Pharma, BD, NanoPass Technologies, and LTS Lohmann
Therapie-Systeme AG invest heavily in microneedle drug delivery systems
for insulin, vaccines, and local anesthetics. Nanopatches offer similar
immune protection using 100 times less vaccine and lower manufacturing
costs. These alternatives are expected to capture a substantial market
share, potentially hindering the growth of pre-filled syringes during
the forecast period.
-- The prefilled syringes market faces several challenges in catering to
the growing demand from chronic disease patients, including heart
diseases, diabetes, and autoimmune disorders. Needlestick legislations
necessitate safety features, increasing syringe costs. Biologics and
biosimilars require larger syringe volumes, challenging assumptions
about target disease population size. Chronic diseases like diabetes
have large prevalence rates, with an estimated 463 million diabetes
cases and 19.3 million cancer cases worldwide. Needle stick injuries and
contaminated needles pose risks for patients and healthcare
professionals. Insufficient healthcare funding and medical inflation
create funding gaps, driving the search for cheaper alternatives like
disposable syringes or oral drug delivery methods. Safety prefilled
syringes, self injection devices, and autoinjectors are popular
solutions for geriatric patients and those requiring biological
therapies. However, challenges remain in optimizing API use, reducing
drug waste, and analyzing partnerships for self administering devices.
The annual cost burden and patient compliance are critical factors in
treatment regimens, making safety and affordability key considerations
for the prefilled syringes market.
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Segment Overview
This prefilled syringes market report extensively covers market segmentation by
1. Material
-- 1.1 Glass pre-filled syringes
-- 1.2 Plastic pre-filled syringes
2. Type
-- 2.1 Disposable
-- 2.2 Reusable
3. Geography
-- 3.1 North America
-- 3.2 Europe
-- 3.3 Asia
-- 3.4 Rest of World (ROW)
1.1 Glass pre-filled syringes- The global prefilled syringes market is anticipated to experience notable growth, with glass pre-filled syringes playing a significant role. These syringes, which come pre-packaged with drugs or biologicals, offer several advantages. Their widespread acceptance among end-users and regulatory ease make them an attractive option. Glass pre-filled syringes are the industry standard due to their long-standing popularity and suitability for parenteral drugs. However, they have drawbacks, such as fragility, potential interaction with biological drugs, and the risk of delamination and plunger failure. Despite these challenges, glass pre-filled syringes offer benefits like minimizing pharmaceutical waste, environmental advantages, improved safety, and ease of use. Leading vendors, such as Baxter, provide a range of glass pre-filled syringes and product enhancements, ensuring market growth in this segment during the forecast period.
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Research Analysis
Prefilled syringes have gained significant attention in the healthcare industry due to their convenience and safety advantages over conventional vials. The market for prefilled syringes is expected to grow substantially in the coming years, driven by the increasing prevalence of chronic diseases such as heart diseases, autoimmune disorders like rheumatoid arthritis, and oncological disorders. The need for needlestick legislations to minimize the risk of infections among patients and healthcare professionals is another key factor. Prefilled syringes are increasingly being used for injectable medications, including biologics and biosimilars, insulin, and the mRNA COVID-19 vaccine.
Market Research Overview
Prefilled syringes have gained significant importance in the healthcare industry due to their convenience, safety, and precision in delivering dosages for chronic diseases such as heart diseases, diabetes, and autoimmune disorders. These conditions affect large target populations, with diabetes prevalence reaching over 460 million worldwide and cancer cases estimated to be around 19.3 million in 2020. Needlestick legislations aim to protect patients and healthcare professionals from needle stick injuries and blood-borne infections. Prefilled syringes offer safety features and reduce the risk of contamination and insufficient dosing. However, factors like insufficient healthcare funding, medical inflation, and funding gaps limit their widespread adoption. Cheaper alternatives like disposable syringes, oral drug delivery, inhalable insulin, and nasal drug delivery are also considered.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
-- Material
-- Glass Pre-filled Syringes
-- Plastic Pre-filled Syringes
-- Type
-- Disposable
-- Reusable
-- Geography
-- North America
-- Europe
-- Asia
-- Rest Of World (ROW)
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
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