Small Molecule Prefilled Syringes Market to Surpass US$ 25,411.8 Million by 2028 - Coherent Market Insights

Global Small Molecule Prefilled Syringes Market, by Drug Class (Cardiovascular Drugs, Neurology Drugs, Analgesics, Adjuvants, and Others), by Material Type (Glass, and Plastic & Polymer), by Distribution Channel ( Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 17,419.4 million in 2021, and is expected to exhibit a CAGR of 5.5 % during the forecast period (2021-2028).

Increasing number of product launches or approvals is expected to help in boosting growth of the global small molecule prefilled syringes market. For instance, in January 2019, Sandoz Inc. (Sandoz), a Novartis division, announced the launch of SYMJEPI (epinephrine) 0.3 mg Injection in the U.S. for the emergency treatment of allergic reactions (Type 1), including anaphylaxis. Sandoz is introducing this medication as a low-cost, single-dose, pre-filled syringe substitute for epinephrine auto-injectors

Increase in number of acquisitions, partnerships, and collaborations between market players is expected to propel the growth of the global small molecule prefilled syringes market during the forecast period. For instance, in July 2020, Mylan N.V. and Fujifilm Kyowa Kirin Biologics Co., Ltd., two leading biopharmaceutical companies, collaboratively developed Hulio. The U.S. Food and Drug Administration (FDA) approved Hulio, a biosimilar to AbbVie's Humira (adalimumab), for the treatment of rheumatoid arthritis, juvenile idiopathic arthritis, psoriatic arthritis, ankylosing spondylitis, adult Crohn's disease, ulcerative colitis and plaque psoriasis, in both prefilled syringe and auto-injector presentation.

Global Small Molecule Prefilled Syringes Market- Impact of Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic has affected several markets such as elective surgeries and dermatology across the globe. The COVID-19 pandemic has affected the demand and supply of healthcare products in three main ways; by directly affecting the production and demand; by creating disruptions in distribution channels; and due to its financial impact on firms and financial markets. Thus, the negative impact of the coronavirus (COVID-19) pandemic is expected to limit the growth of the global small molecule prefilled syringes market, owing to delay in needle and syringe related services or treatment. For instance, according to an article published in AIDS and Behavior Journal, April 2020, the North America Syringe Exchange Network (NASEN) conducted a survey in the U.S. Furthermore, according to the NASEN survey, the availability of needle and syringe services decreased by 43% as a result of COVID-19. Moreover, according to the AIDS and behavior journal, 25% of these needles and syringe service programs had to close their sites due to COVID-19.

Browse 35 Market Data Tables and 34 Figures spread through 191 Pages and in-depth TOC on Global Small Molecule Prefilled Syringes Market, by Drug Class (Cardiovascular Drugs, Neurology Drugs, Analgesics, Adjuvants, and Others), by Material Type (Glass, and Plastic & Polymer), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

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Key Takeaways of the Global Small Molecule Prefilled Syringes Market:

• The global small molecule prefilled syringes market is expected to exhibit a CAGR of 5.5% over the forecast period (2021-2028). North America is expected to account for major market share over the forecast period (2021-2028) owing to the presence of key market players with significant investment in strategic development. For instance, in January 2018, Mylan N.V., a subsidiary of Viatris Inc., announced the launch of generic Glatiramer Acetate injection, which is indicated in the treatment of multiple sclerosis (MS), in the U.S. market.
• Some of the major players operating in the global small molecule prefilled syringes market include Sanofi, Viatris Inc. (Mylan N.V.), AstraZeneca Plc, F. Hoffmann-La Roche AG (Genentech, Inc.), Sun Pharmaceutical Industries Ltd., Pfizer Inc., Dr. Reddy’s Laboratories Ltd., Teva Pharmaceutical Industries Ltd., Fresenius Kabi AG, and McKesson Corporation