Polymer-Based Prefilled Syringe Market: Current Analysis and Forecast (2024-2032)
Emphasis on Polymer Type (Cyclic Olefin Polymer (COP), Cyclic Olefin Copolymer (COC), Polypropylene, and Others); Application (Vaccines, Monoclonal Antibodies, Insulin, and Others); End-User (Hospitals, Clinics, Ambulatory Surgical Centers, and Others); and Region/Country
Polymer-Based Prefilled Syringe Market Size & Forecast
The Polymer-Based Prefilled Syringe Market was valued at approximately USD 2.87 billion in 2023 and is expected to grow at a substantial CAGR of around 4.9% during the forecast period (2024-2032) owing to the increasing use of biologic drugs, including monoclonal antibodies and vaccines.
Polymer-Based Prefilled Syringe Market Analysis
A polymer-based Prefilled Syringe is a medical product that involves a polymer-based material being used in the preparation and administration of drugs. The syringe is a type of drug delivery system that includes a barrel and plungers made of any polymer material like plastics or elastomers and prefilled with the desired dose of the medicine. For instance, these types of syringes are single-use syringes, which are sterilized before use and this is advantageous because it allows correct dosing, and convenience and reduces the risk of cross-infection for the patient and the medical practitioner.
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 engage 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.
Polymer-Based Prefilled Syringe Market Trends
This section discusses the key market trends influencing the various segments of The Polymer-Based Prefilled Syringe Market as identified by our research experts.
Cyclic olefin polymer (COP) Polymer-Based Prefilled Syringe Transforming Industry.
Cyclic olefin polymer (COP) dominated the Global Polymer-Based Prefilled Syringe market in 2023. This is principally owing to COP being a high-clarity material with low protein adsorption and good chemical resistance, which makes it ideal for retaining the integrity of sensitive biologics and biosimilars. In addition to that, it has better biocompatibility and non-reactivity to drugs thus enhancing the application in the pharmaceutical packaging business to meet the set regulatory standards. Therefore, pharmaceutical firms and medical practitioners are shifting their preference toward COP-based prefilled syringes for medical usage, thereby impacting the growth of the market positively. For example, on the 24th of January 2023, Stevanato Group S. p. A. partnered with Transcoject GmbH, a firm that deals with the development of medical devices and pharma packaging solutions. The partnership will allow Stevanato Group to incorporate new material types ciclyc olefin polymer (COP) and cyclic olefin copolymer (COC) PFS into its solutions portfolio and deliver more value-added into customers’ supply chain.
North America leads the market in 2023
North America has the largest market share for this industry in the year 2023. This is mainly due to factors such as advanced healthcare systems, high levels of technology adoption for medical purposes, and better reimbursement policies that support market growth. Also, the cases of chronic diseases and the population’s aging are other factors that influence the need for easy and safe administration of a drug.
According to the CDC, the following statistics of diabetes were recorded, approximately 29 million people in 2024. There are approximately 7 million people of all ages diagnosed with diabetes in the United States and it was found that this statistic represents 8.9% of the entire population of the United States. To this we can add data indicating that at least 352000 children and adolescents under the age of 20, or 35 per 10 000 youths in the USA, have been diagnosed with diabetes. This includes 304,000 people with type 1 diabetes, a figure that is expected to increase significantly in the coming years. In addition, the region comprises several big pharmaceutical and biotechnology firms that are gradually shifting toward the utilization of polymer-based PFS in their products. The stringent quality requirements and backing from the regulatory authorities also contribute towards the use of these syringes in the North America region.
Polymer-Based Prefilled Syringe Industry Overview
The Polymer-Based Prefilled Syringe Market is competitive, with several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market are BD, Gerresheimer AG, The SCHOTT Group, Nipro Corporation, West Pharmaceutical Services, Inc., Baxter, Terumo Corporation, Stevanato Group, Schreiner Group, AptarGroup, Inc.
Polymer-Based Prefilled Syringe Market News
- On March 18, 2024, SCHOTT Pharma invests USD 371 million in a new prefilled syringe manufacturing facility in Wilson, North Carolina, creating over 400 jobs, aiming to meet the demand for glass and polymer prefilled syringes for mRNA, GLP-1, and other therapies in the U.S.
- On January 24, 2023: Stevanato Group S.p.A. collaborated with Transcoject GmbH, a medical device and pharma packaging solutions company. The collaboration will enable Stevanato Group to add cyclic olefin polymer (COP) and cyclic olefin copolymer (COC) PFS to its existing portfolio of solutions, providing added value in the customers’ supply chain.
- On May 17, 2022: Terumo Pharmaceutical Solutions (TPS) launched a pre-fillable polymer syringe for low dose applications such as ophthalmic drugs. The PLAJEX Ready-to-Fill Polymer Syringe range, these primary container solutions come sterilized, ready for filling, offering silicone oil-free containers made of Cyclo Olefin Polymer (COP) with tight dimensional tolerances.
Polymer-Based Prefilled Syringe Market Report Coverage
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 portfolios, 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.
Customization Options:
The Global Polymer-Based Prefilled Syringe Market can further be customized per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs; hence, feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Polymer-Based Prefilled Syringe Market Analysis (2024-2032)
Analyzing the historical market, estimating the current market, and forecasting the future market of the Global Polymer-Based Prefilled Syringe Market were the three major steps undertaken to create and analyze the adoption of Polymer-Based Prefilled syringes in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, numerous findings and assumptions were taken into consideration to validate these insights. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Global Polymer-Based Prefilled Syringe Market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting 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 of the industry. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Polymer-Based Prefilled Syringe Market through company internal sources such as annual reports & 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 Polymer-Based Prefilled Syringe Market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report, such as polymer type, application, end-user, and regions. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that 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 the Polymer-Based Prefilled Syringe Market. Further, we conducted factor analysis using dependent and independent variables such as polymer type, application, end-user, and regions of the Polymer-Based Prefilled Syringe Market. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Polymer-Based Prefilled Syringe Market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above three steps, we arrived at the current market size, key players in the global Polymer-Based Prefilled Syringe 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., the top-down/bottom-up approach were applied to arrive at the market forecast for 2032 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the Polymer-Based Prefilled Syringe Market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global Polymer-Based Prefilled Syringe Market in terms of products 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, 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
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Polymer-Based Prefilled Syringe Market. Data was split into several segments and sub-segments after studying various parameters and trends in the polymer type, application, end-user, and regions of the global Polymer-Based Prefilled Syringe Market.
The main objective of the Global Polymer-Based Prefilled Syringe Market Study
The current & future market trends of the global Polymer-Based Prefilled Syringe Market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends 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 from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the Polymer-Based Prefilled Syringe Market 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 the polymer type, application, end-user, and regions.
- Define and analyze the regulatory framework for the Polymer-Based Prefilled Syringe
- 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 Polymer-Based Prefilled Syringe Market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
- Company profiles of the Polymer-Based Prefilled Syringe 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
Frequently Asked Questions FAQs
Q1: What is the Polymer-Based Prefilled Syringe current market size and growth potential?
Q2: What are the driving factors for the growth of the Polymer-Based Prefilled Syringe market?
Q3: Which segment has the largest share of the Polymer-Based Prefilled Syringe market by polymer type?
Q4: What are the trends in the Polymer-Based Prefilled Syringe market?
Q5: Which region will dominate the Polymer-Based Prefilled Syringe market?
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