Some of the major companies in the global prefilled syringes market are Dickinson & Company, Becton, Bespak, Baxter International, Inc., Stevanato Group, Unilife Corporation, Gerresheimer AG, Nipro Corporation, West Pharmaceutical Services, Inc., Schott AG, and Vetter Pharma International GmbH. These players have a lion’s share in the development of the global prefilled syringes market.
According to the analysts at Zion Market Research, the Global prefilled syringes market was capitalized at almost USD 3.50 Billion in 2015 and is likely to cross almost USD 6.00 Billion by 2021, developing at a CAGR of almost 9.5% from 2016 to 2021. The prefilled syringes market grabbed almost 4.10 Billion units in 2015 in terms of volume and is likely to cross almost 6.70 Billion units by the end of 2021.
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Rapid Development In The Biologics Market To Prefilled Syringes Market
Prefilled syringes have a major role in global market for injectable drug delivery devices. “The prefilled syringes market is majorly boosted by rapid development in the biologics market,” claim the analysts at Zion Market Research. In addition to this, increasing preference for self-administered pen injectors, prefilled syringes, and auto-injectors is also claimed to bolster the prefilled syringes market. Furthermore, prefilled syringes provide various advantages such as accurate dosing, ease of administration, and lowered risk of contamination. There are various advantages of prefilled syringes in comparison to traditional delivery systems such as accurate dosing, improved safety, reduced risk of contamination, and ease of administration. These benefits from the groundwork for the success of prefilled syringes and are expected to continue boosting the prefilled syringes market in the years to come. On the other hand, the attendance of optional means of drug delivery and the high price related with the manufacturing of prefilled syringes might hamper the growth of the prefilled syringes market in the coming years.
Nevertheless, technical improvements in the industry are expected to open up new growth opportunities for the prefilled syringes market in the years to come. For instance, in July 2017, Gerresheimer expanded its product portfolio of prefilled syringes composed of plastics & glass with an integrated, innovative, and passive syringe safety solution. The company acquired this via an exclusive license from West Pharmaceutical Services Inc., thereby boosting the prefilled syringes market.
Europe to maintain its dominance in prefilled syringes market
Europe ruled the prefilled syringes market and is likely to maintain its dominance as the top region for prefilled syringes market in terms of income. This development is credited to the high rate of adoption for prefilled syringes in this area. The prefilled syringes market in Asia Pacific is likely to show strong development at a CAGR of almost 11 % in the years to come. Japan grabbed the major share in the prefilled syringes market by volume as well as income in 2015. North America is also likely to exhibit noteworthy development in prefilled syringes market in the years to come.
The global prefilled syringes market is segmented as follows:
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