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Press Release: Small Molecule Prefilled Syringes Market to Surpass US$ 20.6 Billion Threshold by 2025 Globally
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Small Molecule Prefilled Syringes Market Insights
Small molecule prefilled syringes are pharmaceutical preparations of small molecule drugs that are sold in prefilled syringes. Small molecule prefilled syringes are alternatives to other dosage forms such as tablets and capsules. Empty glass or plastic and polymer syringes are filled with the solution of the active pharmaceutical ingredients. Drugs belonging to categories such as cardiovascular, analgesics, neurology, and adjuvants are offered in prefilled syringe delivery systems. Small molecule prefilled syringes have faster therapeutic action as compared to tablets and capsules, as drug directly enters into the bloodstream. Moreover, self-administration can be done with the help of these products, which is convenient for the patients. Rising incidence of chronic diseases such as cancer and cardiovascular diseases is expected to be factor for growth of the small molecule prefilled syringes market. Prefilled syringe is a novel drug delivery system, which offers many advantages over other dosage forms. Prefilled syringes have fixed dosage, which avoids issues such as dosage errors, reduced incidences of needle-stick injuries due to innovative lock technologies, and needleless syringes. Manufacturers such as Becton, Dickinson and Company, and Pfizer, Inc. offer innovative prefilled syringe products.
Development of technologically advanced prefilled syringes is expected to boost demand for small molecule prefilled syringes
Manufacturers are engaged in development of dual or multi-chambered prefilled syringes (AL Biosciences, Inc. manufacturers multi-chambered prefilled syringe), which have various applications in areas such as reconstituted drugs and other potent drugs (for instant therapeutic action). These also offer convenience to end users. Furthermore, technological advancements in design and manufacturing of prefilled syringes have also aided pharmaceutical players to commercialize various drugs into prefilled dosage forms such as Penicillin. Several pharmaceutical players have developed prefilled syringes containing active pharmaceutical ingredients, which has aided these players in increasing their revenues. For instance, Teva Pharmaceutical Industries Ltd. earned significant revenues from the sale of its drug Copaxone in 2016, which comes in a prefilled syringe. Manufacturers of prefilled syringe have developed innovative prefilled syringes and dual- and multi-chambered syringes for sensitive drugs to avoid reactions. The drug chamber is separated with diluent chamber with a barrel in between the two chambers and the barrel serves as a barrier between two chambers. For instance, Pfizer, Inc. has iSecure one piece prefilled syringe without needle. iSecure is a one- piece, needle-free technology which helps in minimizing needle-stick injuries.
The global small molecule prefilled syringes market was valued at US$ 13,749.4 million in 2016 and is expected to witness a robust CAGR of 4.6% over the forecast period (2017–2025).
Figure 1. Global Small Molecule Prefilled Syringes Market Share (%), by Material Type 2017 and 2025
Increasing adoption of self-injection devices is expected to foster growth of the small molecule prefilled syringes market
Effectiveness of drug delivery mainly depends on route of administration. Parenteral are highly preferred and commonly used route of drug administration. The recent past has witnessed significant growth in advanced drug delivery devices, due to development and easy availability of parenteral drugs. Main benefits of prefilled syringes over conventional drug delivery systems is improved product safety, self-administration, accurate dosing, and low chances of drug contamination. Self-injection advantage of prefilled syringes is a major factor for increasing adoption of these, thus aiding in growth of the prefilled syringe market globally. Apart from these aforementioned benefits, dual-chamber prefilled syringe may be useful with reconstituted drugs, which would help in avoiding wastage of drugs and overdose. Major pharmaceutical companies are focusing on advancing the use of self-administration devices globally. In 2015, SCHOTT launched a prefillable syringe design—SCHOTT TopPac. These SD polymer prefillable syringes minimize the risk between sensitive drugs and packaging container.
However, factors such as complex manufacturing process, high costs, and requirement of high quality of these products (responsible for high costs) are expected to hinder growth of the market over the forecast period.
Some major players operating in the small molecule prefilled syringes market include Pfizer, Inc., Sanofi S.A., Mylan N.V., Teva Pharmaceutical Industries Ltd., Becton, Dickinson and Company, and Fresenius Kabi AG.
Prefilled syringes are specialized formulation consisting of either small molecules or large molecules. The final costs of these products are a combination of the price of drug formulation as well as syringe component. Significant amount of research and development is necessary to bring these products in the market, which results in prices being higher, as specialized drug delivery systems are utilized. In some countries such as the U.S., Canada, and Australia, the medicinal products that are sold in prefilled syringes are termed as combination products. Regulatory scenario for the combination products has been properly defined in the U.S. and Canada. However, in other regions such as Europe and Asia Pacific the regulations for combination products have not been properly defined. U.S. FDA regulates these products as combination products.
Market Dynamics
Major drugs in the neurology drugs segment such as Copaxone (manufactured by Teva Pharmaceutical Industries Ltd.) are expected to face competition from generics. Manufacturers such as Schott AG are involved in prefilled syringe product innovation, in order to improve medical outcomes, which compliments growth of the small molecule prefilled syringe market. The market is expected to exhibit significant growth, owing to increasing adoption of technologically advanced prefilled syringes such as Schott TopPac. Advantages offered by prefilled syringes such as accurate dosage, and instant therapeutic effect over conventional products such as tablets and capsules is expected to foster growth of small molecule prefilled syringes market.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
*Browse 34 market data tables and 55 figures on "Small Molecule Prefilled Syringes Market - Global forecast to 2025”.
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