Prefilled Syringes Market Trends

  • Report ID: 4398
  • Published Date: Oct 10, 2024
  • Report Format: PDF, PPT

Prefilled Syringes Market Trends

Growth Drivers

  • Growing Prevalence of Chronic Diseases – The need for pre-filled syringes is being driven by the increasing prevalence of chronic diseases such as diabetes, cancer, and autoimmune diseases. In 2018, over 27% of American people had more than one chronic disease.

  • Rising Geriatric Population – The Elderly population is more prone to chronic diseases and the rising number of elderly populations across the globe is estimated to drive market growth. According to estimates, the proportion of the aged population in India increased by more than 10% in 2021.

  • Increasing Spending in Healthcare – Demand for pre-filled syringes is expected to certainly increase as a result of rising healthcare spending as healthcare professionals look for innovative tools and solutions that is poised to enhance patient outcomes, cut costs, and boost productivity. According to the most recent expenditure data, health spending in the US increased by over 2% in 2021.

  • Increasing Number of Needles-Related Infectious Cases – It is expected that infectious illnesses can spread as a result of needlestick injuries. Further, sharing injecting supplies raises the possibility of spreading and catching blood-borne illnesses including HIV and hepatitis B and C, which is anticipated to drive the market growth. According to the WHO, 6 billion injections with contaminated needles are given each year, accounting for more than 4% of all new HIV cases worldwide.

Challenges

  • Leakage in the Syringes- The increasing concern amongst individuals for the leakage and impurity in the syringes is one of the major factors predicted to slow down the market growth. For instance, syringe breakage and medication leakage could be caused by poor shipping and low-quality materials utilized to make the devices. The market growth is anticipated to be hampered by defects such as bent needles, and punctured rubber seals or plungers.
  • Stringent Regulations Associated with the Production of Syringes
  • Chance of Artery Blockage and Blood Clotting while Injecting Air

Prefilled Syringes Market: Key Insights

Growth Drivers

  • Rising Cases of Infection Caused by Needles- Many doctors use pre used needles to save their stock, it itself counted as crime, moreover, it might severely harm a healthy person. In order to prevent such crimes or accidents, prefilled syringes are the best solution. Every year, nearly 385,000 health care workers accidently stick needles in them by accident

  • Surge in COVID-19 Vaccination Drive- According to the Word in Data, every day 3.87 million vaccination is carried out worldwide and 12.69 doses has been administered.

  • Growing Popularity of Biologic Drugs- The higher demand of biologic drugs has increased its sales. Biologics has overshadowed the small molecule sales and by 2027 biol0gics drugs is expected to have sales of worth USD 120 billion more than small molecules.

  • Increasing Number of HIV and Hepatitis-B Cases- The self-filling needles uses with HIV and Hepatitis patients have been misused many times. Therefore, prefilled syringes are the best solution for using on the patients suffering with HIV and Hepatitis. In 2020, globally there were around 38 million people living with HIV.

Challenges

  • Leakage and Impurity in the Syringes
  • Strict Regulations Associated with the Manufacturing of the Syringes
  • Risk of Artery Blockage and Clotting of Blood while Injecting Air

Low quality of material used for making the syringes, lousy transportation might result in damages syringes and leak of the contained drug. The damages such as bent needle, punctured rubber seal or plunger, and broken glass syringes are likely to hinder the market growth.

The prefilled syringes market is segmented and analyzed for demand and supply by application into diabetes, multiple sclerosis, anaphylaxis, cancer and others. The diabetes segment is anticipated to hold the largest market size by the end of 2033. Rising requirement of insulin treatment is expected to drive the growth of the diabetes segment. Around 150-200 million people worldwide are in the requirement of insulin therapy in 2018. Increased burden of diabetes on the world is to grow the diabetes segment. According to the WHO, 422 million people are living with diabetes worldwide.

Base Year

2024

Forecast Year

2025-2037

CAGR

13.4%

Base Year Market Size (2024)

USD 18 billion

Forecast Year Market Size (2037)

USD 93.48 billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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Author Credits:  Radhika Pawar


  • Report ID: 4398
  • Published Date: Oct 10, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of prefilled syringes is estimated at USD 19.94 billion.

The prefilled syringes market size was over USD 18 billion in 2024 and is expected to cross USD 93.48 billion by the end of 2037, growing at more than 13.4% CAGR during the forecast period i.e., between 2025-2037. Increasing prevalence of HIV and hepatitis-B cases and the rise in demand of self-injection devices will boost the market growth.

Europe is predicted to be the largest with a share of about 41% by 2037, attributed to increasing geriatric population.

The major players in the market include Abbott, Bayer Pharmaceuticals, Baxter BioPharma Solutions, BG (Becton, Dickinson and Company), Gerresheimer AG, Medtronic, Nipro Pharma Corporation, Terumo Medical Corporation, Vetter Pharma International GmbH, West Pharmaceutical Services, Inc.
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