Prefilled Syringes Market: Current Analysis and Forecast (2021-2027)

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Emphasis on Type (Conventional Prefilled Syringes, Safety Prefilled Syringes); Material (Glass Prefilled Syringes, Plastic Prefilled Syringes); Application (Diabetes, Rheumatoid Arthritis, Anaphylaxis, Cancer, Thrombosis, Others); Region/Country

Published:

Sep-2021

Pages:

219

Table:

78

Figure:

128

Report ID:

UMHE21417

Geography:

Clear
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Report Description
Table of content
Research Methodology

Report Description


Global Prefilled Syringes Market was valued at US$ 1,432.2 million in 2020 and is anticipated to reach US$ 3,301.1 million by 2027 displaying an elevated CAGR of 10% over the forecast period (2021-2027). A “prefilled syringe” is a syringe filled with a fixed quantity of a therapeutic drug. They are used for delivering drugs with improved accuracy, affordability, efficacy, convenience, sterility, safety, and accessibility which makes it more advantageous than traditional methods of drug delivery where glass or metal vials were used to store pharmaceutical drugs.

Some of the key factors anticipated to drive prefilled syringes market are rising demand for prefilled syringes are growing prevalence of chronic diseases such as heart diseases, diabetes, and autoimmune diseases, which require patients to self-administer medications, technological advancements, rising adoption of self-injecting parenteral devices, and supportive government regulations (especially needlestick legislations). Globally, in 2019, approximately 436 million adults (prevalence 9.3%) were suffering from diabetes, and it is expected to rise to 700 million (prevalence 10.9%) by 2045. Moreover, more than 1.1 million children and adolescents are living with type 1 diabetes (Source: International Diabetes Federation).

The increase in incidences of cancer globally owing to the increase in geriatric population has been one of the prime factors that augment market growth. In 2020, according to WHO, cancer was considered as the leading cause of death in the world. Nearly 10 million people die due to cancer each year, making it the second leading cause of death across the world. Nuclear medicine scans can help in finding tumors and to analyze how much the cancer has spread in the body (called the cancer’s stage). They can also be used to determine whether treatment is effective.

Becton, Dickinson and Company, Pfizer Inc., Fresenius Medical Care AG & Co. KGaA, Baxter International Inc., Terumo Corporation​, B. Braun Melsungen AG​, Cardinal Health Inc.​, Mylan NV, Gerresheimer, SCHOTT AG are some of the prominent players operating in the global prefilled syringes market. Several M&A’s along with partnerships have been undertaken by these players to develop new and advanced products.

Insights Presented in the Report

“Amongst type, safety prefilled syringes segment holds the major share”

Based on type the global prefilled syringes market is segmented into conventional prefilled syringes and safety prefilled syringes. Among them, the safety prefilled syringes segment is expected to register the highest growing CAGR during the forecast period primarily which can be attributed to rising geriatric population globally and availability of biological therapies for patients with chronic conditions and outsourcing of low-risk medical procedures for chronic patients alleviates some of the pressure on hospitals.

“Amongst material, glass-based prefilled segment holds the major share”

By material, the global Prefilled Syringes Market is segmented into glass prefilled syringes and plastic prefilled syringes. The glass-based prefilled syringes market dominated the market in 2020 and is further predicted to maintain its dominance during the forecast period as well. At present, most prefilled syringes are made of glass. This is because most of the glass prefilled syringes allow delivery of highly viscous medications. Additionally, glass prefilled syringes can be utilized across a wide range of therapeutic areas, like blood stimulants, vaccines, and therapeutic proteins while increasing product life span that will positively boost the segmental growth.

“Amongst application, the diabetes segment holds the major share”

Based on application, the market is categorized into diabetes, rheumatoid arthritis, anaphylaxis, cancer, thrombosis, and others. At present, diabetes segment dominates the market and is expected to maintain its dominance during the analyzed period as well. This supremacy is ascribed to the fact that diabetes requires constant medications for treatment. Besides, rising prevalence of diabetes along with favorable demographic trends also increases demand for prefilled syringes with insulin that will prove beneficial for segment revenue.

“Europe signifies one of the largest markets of Prefilled Syringes market”

For a better understanding of the market dynamics of the Prefilled Syringes market, a detailed analysis was conducted for different regions across the globe including North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of APAC), Rest of World has been conducted. Europe is slated to dominate the prefilled syringes market share during the forecast period on account of growing uptake of self-injectable drug devices and increasing preference for biological drugs for treating chronic diseases. In addition to this, growth of the biologics and biosimilars market, high adoption of patient safety measures, technological advancements and geographical expansion by key manufacturers are further driving the demand for self-injectable prefilled syringes in the region.

Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts
  • The report presents a quick review of overall industry performance at one glance
  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
  • The study comprehensively covers the market across different segments
  • Deep dive regional level analysis of the industry

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1.1.   Market Definitions
1.2.   Objective of the Study
1.3.   Limitation
1.4.   Stake Holders
1.5.   Currency Used in Report
1.6.   Scope of the Prefilled Syringes Market Study

2.1.   Research Methodology for the Global Prefilled Syringes Market
2.1.1.Main Objective of the Global Prefilled Syringes Market

7.1.   Conventional Prefilled Syringes
7.1.1.Disposable Prefilled Syringes
7.1.2.Reusable Prefilled Syringes ​​
7.2.   Safety Prefilled Syringes

8.1.   Glass Prefilled Syringes
8.2.   Plastic Prefilled Syringes

9.1.   Single-Chamber Prefilled Syringes
9.2.   Dual- Chamber Prefilled Syringes
9.3.   Customized Prefilled Syringes

10.1.                     Diabetes
10.2.                     Rheumatoid Arthritis
10.3.                     Anaphylaxis
10.4.                     Cancer
10.5.                     Thrombosis
10.6.                     Others

11.1.                     North America Prefilled Syringes Market
11.1.1.    United States
11.1.2.    Canada
11.1.3.    Rest of North America
11.2.                     Europe Prefilled Syringes Market
11.2.1.    Germany
11.2.2.    France
11.2.3.    United Kingdom
11.2.4.    Italy
11.2.5.    Spain
11.2.6.    Rest of Europe
11.3.                     Asia Pacific Prefilled Syringes Market
11.3.1.    China
11.3.2.    Japan
11.3.3.    India
11.3.4.    South Korea
11.3.5.    Rest of Asia Pacific
11.4.                     Rest of World Prefilled Syringes Market

12.1.                     Market Drivers
12.2.                     Market Challenges
12.3.                     Impact Analysis

16.1.                     Demand Side Analysis
16.2.                     Supply Side Analysis
16.2.1.    Top Product Launches
16.2.2.    Top Business Partnerships
16.2.3.    Top Business Expansions, Investments and Divestitures
16.2.4.    Top Merger and Acquisitions

18.1.                     Porter’s Five Forces Analysis
18.1.1.    Bargaining power of Supplier
18.1.2.    Bargaining power of Buyer
18.1.3.    Industry Rivalry
18.1.4.    Availability of Substitute
18.1.5.    Threat of new Entrants
18.2.                     Competitive Landscape
18.2.1.    Company Shares, By Revenue

19.1.                     Becton, Dickinson, and Company
19.2.                     Pfizer Inc.
19.3.                     Fresenius Medical Care AG & Co. KGaA
19.4.                     Baxter International Inc.
19.5.                     Terumo Corporation
19.6.                     B. Braun Melsungen AG
19.7.                     Cardinal Health Inc.
19.8.                     Mylan NV
19.9.                     Gerresheimer
19.10.                  SCHOTT AG

Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the global prefilled syringes market were the three major steps undertaken to create and analyze the adoption of prefilled syringes amongst population across major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of prefilled syringes. Post assumption and validation of market numbers through primary interviews, we employed a top-down approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size                                                                          

Step 1: In-Depth Study of Secondary Sources:

Detailed secondary study was conducted to obtain the historical market size of the Prefilled Syringes market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Prefilled Syringes market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments for major regions. Major segments included in the report are type, material, design, and application. Further country-level analyses were conducted to evaluate the overall utilization of prefilled syringes in every region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of prefilled syringes market. Further, we conducted factor analysis using dependent and independent variables such as rising target disease population. A thorough analysis was conducted for demand and supply-side scenario considering top partnerships, merger and acquisition, business expansion, and product launches in the prefilled syringes industry across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the prefilled syringes market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e. top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value (USD) and the utilization rate of Prefilled Syringes across the major markets domestically
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the Prefilled Syringes market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the prefilled syringes market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type, material, design, and application of the Prefilled Syringes market.

Main Objective of the Prefilled Syringes Market Study

The current & future market trends of prefilled syringes were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of Prefilled Syringes in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
  • Segments in the study include areas of type, material, design, and application
  • Define and analysis of the regulatory framework for the Prefilled Syringes industry
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
  • Analyze the current and forecast market size of the Prefilled Syringes market for the major region
  • Major regions studied in the report include North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of APAC), and Rest of the World
  • Company profiles of the Prefilled Syringes market and the growth strategies adopted by the market players to sustain in the fast-growing market

Deep dive regional level analysis of the industry