Author: Himanshu Patni
01 July 2024
Key Highlights of the Report:
According to a new report by UnivDatos Market Insights, the Polymer-Based Prefilled Syringe Market is expected to reach USD 2.87 Billion in 2023 by growing at a CAGR of ~4.9%. The population is ageing globally and with this comes the increased incidence of chronic conditions that need medications frequently. Prefilled syringes offer convenience and ease of use for self-administration or by caregivers, driving their adoption. As per the United Nations World Population Ageing 2023 report, there are now over 10 million older people in the nation, placing a significant financial strain on the social security and healthcare systems. Even though the proportion of older people was just 4.9% in 2023.
As demand for prefilled syringes rises, other pharma and biotech businesses around the globe are expected to transition from traditional syringes and other packaging systems to polymer-based prefilled syringes for their injectable products, which will drive the market deeper into penetration. Furthermore, firms that are involved in the research and development of advanced polymers for various applications or those firms that design new and unique polymers will have the upper hand in the market. For example, on March 18, 2024, SCHOTT Pharma will be establishing a new prefilled syringe manufacturing plant in Wilson, North Carolina, for a total of USD 371 million, with over 400 planned employees, to meet the demand for glass and polymer prefilled syringes for mRNA, GLP-1, and other therapeutic applications in the United States.
For More Detailed Analysis in PDF Format, Visit-https://univdatos.com/report/polymer-based-prefilled-syringe-market/get-a-free-sample-form.php?product_id=61521
The ability to tailor treatments to individual needs and desired outcomes enhances patient satisfaction and drives market demand. Some of the most performed Polymer-Based Prefilled Syringe include:
According to the report, the impact of polymer-based prefilled syringe resources has been identified to be high for the North American area. Some of how this impact has been felt include:
Asia-Pacific is expected to grow with a significant CAGR in the forecast period (2024-2024) because of the rising incidences of chronic diseases including diabetes, infectious diseases, and cancer in the Asia-Pacific countries. According to the OECD 2022, 227 million people have type 2 diabetes in the Asia-Pacific region, among them 50% remain untreated and ignorant about having long-term complications. In addition, the awareness of health among the people in the region has grown, and so has the health care expenditure which has inclined the demand for sophisticated medical devices such as prefilled syringes.
Conclusion
Consequently, prefilled polymer syringes are a breakthrough in the polymer technology of drug delivery systems having the following advantages over glass syringes. Their safety, convenience, and relatively cheaper price make the device an attractive tool for pharma and healthcare providers as they seek better ways of attending to patients and cutting costs. With the increasing trend in technology later in the future, the features of polymer-based prefilled syringes can be developed to enhance the growth and use in the healthcare system.
Key Offerings of the Report
Market Size, Trends, & Forecast by Revenue | 2024−2032.
Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
Market Segmentation – A detailed analysis by polymer type, by application, by end-user, by Region/Country
Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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