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The global prefilled syringes market size is projected to reach USD 8.6 billion by 2025 from USD 5.6 billion in 2020, at a CAGR of 9.0%

ReportLinker
·4-min read

The growth in the prefilled syringes market is majorly driven by the rising demand for prefilled syringes is attributed to the growing prevalence of chronic diseases, technological advancements, rising adoption of self-injecting parenteral devices, and supportive government regulations (especially needlestick legislations).

New York, Sept. 28, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Prefilled Syringes Market by Type, Material, Design, Application - Global Forecast to 2025" - https://www.reportlinker.com/p04392659/?utm_source=GNW
In addition, growing awareness on the benefits of prefilled syringes among patients and healthcare professionals, along with the growing number of biologics and biosimilars in the pharmaceuticals market, is supporting the growth of the prefilled syringes market. However, the adoption of prefilled syringes with integrated safety features has been low among end users, and the continuation of this trend during the forecast period will restrain the market growth.

The recent COVID-19 global pandemic has also impacted the prefilled syringes market.Routine care for chronic diseases is an ongoing challenge amidst the global COVID-19 pandemic due to the change in routine care to virtual communication.

Diabetes, chronic obstructive pulmonary disease, and hypertension were the most impacted conditions due to a reduction in access to care. Furthermore, currently, most global healthcare resources are focused on coronavirus disease (COVID-19), and this resource reallocation is expected to disrupt the continuum of care for patients with chronic diseases.

The safety prefilled syringes segment to witness the highest growth rate in the prefilled syringes market, by type, during the forecast period.
The safety prefilled syringes segment is expected to witness the highest growth during the forecast period primarily due to the 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 hospital s

The glass prefilled syringes segment accounted for the largest share of the prefilled syringes market, by material, in 2019.
The glass prefilled syringes segment accounted for the largest share of the prefilled syringes industry in 2019. The large share of this segment is attributed to the significant benefits offered, such as prevention of oxygen and water vapor from interacting with drug compounds, compatibility with different filling machines, and seamless integration into pharmaceutical companies’ PFS operations.

The single-chamber prefilled syringes segment accounted for the largest share of the prefilled syringes market, by design, in 2019
The single-chamber prefilled syringes segment accounted for the largest share of the prefilled syringes industry in 2019. Market growth can largely be attributed to the significant advantages with the use of single-chamber prefilled syringes over vials, such as optimized API use with less overfill, reduced material requirements, less drug waste in clinical trials, and simple storage & disposal. Additionally, increasing adoption of self-administered parenteral drugs due to the increasing prevalence of chronic diseases and benefits offered by prefilled syringes

The Asia Pacific market to grow at the highest CAGR during the forecast period.
The prefilled syringes market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific market is expected to grow at the highest CAGR during the forecast period majorly due to the the increasing demand for self-administered treatments, high penetration of self-injection devices, growing aging population, increasing prevalence of diabetes, and huge patient population.

Breakdown of supply-side primary interviews:
• By Company Type: Tier 1: 48%, Tier 2: 36%, and Tier 3: 16%
• By Designation: C-level: 10%, D-level: 14%, and Others: 76%
• By Region: North America: 40%, Europe: 32%, APAC: 20%, Latin America: 5%, and the Middle East & Africa: 3%

The major players operating in the prefilled syringes market are Becton, Dickinson and Company (US), Gerresheimer (Germany), SCHOTT AG (Germany), West Pharmaceutical Services, Inc. (US), Baxter International Inc (US), Ompi (Italy), Catalent, Inc. (US), Weigao Group (China), Vetter Pharma International GmbH (Germany), Nipro Corporation (Japan), Elcam Medical (Israel), YPSOMED (Switzerland), Oval Medical Technologies (UK), SHL Medical AG (Switzerland), Terumo (Japan).

Research Coverage
This report studies the prefilled syringes market based on the type, material, design, application, and region.The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth and provides details of the competitive landscape for market leaders.

Furthermore, the report analyzes micromarkets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to five major regions (and the respective countries in these regions).

Key Benefits of Buying the Report
This report focuses on various levels of analysis—industry trends, market share of top players, and company profiles, which together form basic views and analyze the competitive landscape, emerging segments of the prefilled syringes market, and high-growth regions and their drivers, restraints, opportunities, and challenges. The report will help both established firms as well as new entrants/smaller firms to gauge the pulse of the market and garner greater market shares.

Read the full report: https://www.reportlinker.com/p04392659/?utm_source=GNW

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