A prefilled syringe is a disposable syringe that is already loaded/supplied with the substance to be injected. Prefilled syringes are one of the fastest growing choices for unit dose delivery and have emerged as one of the most convenient drug delivery methods in the recent years. The extensive use of prefilled syringes has enabled pharmaceutical companies to minimize drug-wastage and simultaneously increase the life-span of the product. Plastic disposable syringes created a revolution in the healthcare market which has been enhanced by the introduction of sterile, prefilled syringes that enable safe self-administration of injectable drugs without having to visit the hospital.
The global prefilled syringes market is estimated to be valued at US$ 6,656.9 million in 2022 and is expected to exhibit a CAGR of 10.6% during the forecast period (2022-2030).
Figure 1.Global Prefilled Syringes Market Share (%) in Terms of Value, by Material Type, 2022
Increasing prevalence of chronic diseases such as diabetes, heart diseases, autoimmune diseases, and other diseases are expected to drive growth of the global prefilled syringes market
There has been an increasing prevalence of chronic diseases such as Type 1 diabetes among a significant population across the globe. Patients with Type 1 diabetes undergo regular intra-venous administration of insulin to control their sugar levels. Owing to ease of administration, prefilled syringes can make self-administration more convenient and viable. According to the data published by the International Diabetes Federation, on December 2021, around 537 million adults (20-79 years) had diabetes, and around 6.7 million deaths occurred globally due to diabetes in the year 2021.
|Base Year:||2021||Market Size in 2022:||US$ 6,656.9 Mn|
|Historical Data for:||2017 to 2020||Forecast Period:||2022 to 2030|
|Forecast Period 2022 to 2030 CAGR:||10.6%||2030 Value Projection:||US$ 13,264.3 Mn|
BD, Gerresheimer AG, SCHOTT AG, West Pharmaceutical Services, Inc., Vetter Pharma International, Stevanato Group, Terumo Corporation, Catalent, Inc., Weigao group, NIPRO PHARMA CORPORATION, Oval Medical Technologies Ltd., and SHL Medical AG
|Restraints & Challenges:||
Figure 2.Global Prefilled Syringes Market Share (%), by Design, 2022
Increasing technological advancements and product launch are expected to drive the market growth during the forecast period.
Increasing technological advancements and product launch by key players in the market are expected to drive the market growth over the forecast period. For instance, in September 2019, Hikma Pharmaceuticals PLC, a multinational pharmaceutical company, launched Heparin Sodium prefilled syringe in the U.S., through its affiliate, Hikma Pharmaceuticals USA Inc.
Global Prefilled Syringes Market – Impact of Coronavirus (COVID-19) Pandemic
Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization had declared it a public health emergency on January 30, 2020.
COVID-19 can affect the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, U.A.E., Egypt, and others are facing problems with regards to the transportation of products from one place to another.
However, the COVID-19 pandemic had a positive impact on the global prefilled syringes market, owing to its potential use for COVID-19 vaccines. For instance, in September 2021, BD, an American multinational medical technology company, unlocked a new COVID-19 vaccine opportunity by showing its glass prefilled syringes suitability for use with mRNA COVID-19 vaccine shots that need storing at ultralow temperatures. The company said that switching from vials to prefilled syringes can address the complexity and cost of vaccine administration.
Global Prefilled Syringes Market: Restraint
The major factors that hinder growth of the global prefilled syringes market include product recalls, possibility of reactions between prefilled syringe components and the drug, and others. For instance, in December 2021, Novartis Pharmaceuticals UK, a healthcare company, recalled a specified batch of Lucentis 10 mg/ml solution for injection in pre-filled syringes due to a faulty plunger stopper, which led to an increased number of customer complaints relating to the plunger being difficult to press down.
Major players operating in the global prefilled syringes market include BD, Gerresheimer AG, SCHOTT AG, West Pharmaceutical Services, Inc., Vetter Pharma International, Stevanato Group, Terumo Corporation, Catalent, Inc., Weigao group, NIPRO PHARMA CORPORATION, Oval Medical Technologies Ltd., and SHL Medical AG.
A prefilled syringe is a disposable syringe that is supplied with the substance to be injected. Prefilled syringes are recognized as a reliable, efficient, and convenient method for drug administration. Furthermore, the ease with which many types of injectable medications can be self-administered by the patients makes prefilled syringes a practical method of drug delivery. Prefilled syringes improve patient safety by lowering the risk of unintended needle stick injuries and harmful product exposure that can occur when drawing medication from vials. Prefilled syringes ensure particulate-free solution administration and accommodate quantities ranging from 0.25 to 5.0 ml. As a result, they are best suited to medications that are supplied via subcutaneous or intramuscular injection.
The increasing adoption of strategies such as investments by the key players to construct production facilities for prefilled syringes is expected to drive market growth over the forecast period. For instance, in July 2018, Terumo Corporation, one of the world's leading manufacturers of medical devices and supplies, announced that it would invest approximately 7 billion yen (US$ 50 million) to construct an additional production facility at the headquarters plant at Terumo Yamaguchi D&D Corporation, a Terumo Corporation subsidiary, for prefilled syringes.
Moreover, the increasing adoption of strategies such as product launch is expected to drive the market growth over the forecast period. For instance, in December 2018, Terumo Corporation, one of the world's leading manufacturers of medical devices and supplies, announced that Hulio, a biosimilar of Humira, which uses the company's PLAJEX pre-fillable syringe, has launched in Europe. FUJIFILM KYOWA KIRIN BIOLOGICS Co., Ltd., a company engaged in the development and manufacturing of biosimilars, and Terumo Corporation jointly designed the formulation of Hulio. Terumo Yamaguchi D&D Corporation, a wholly-owned subsidiary of Terumo Corporation, would carry the manufacturing on contract, and Mylan N.V., a subsidiary of Viatris Inc., an American global healthcare company, will commercialize the product in Europe.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.