Pre-Filled Syringes market is projected to grow at a CAGR of 8.41% by 2033: Visiongain Reports Ltd
Visiongain has published a new report entitled Pre-Filled Syringes Market 2023-2033. It includes profiles of Pre-Filled Syringes Market and Forecasts Market Segment by Type (Conventional, Safety), Market Segment by Material (Glass, Plastic, Stainless Steel, Elastomer), Market Segment by Design (Single Chambered, Dual Chambered, Customized), Market Segment by Delivery (Intravenous, Subcutaneous, Intramuscular, others), Market Segment by Application (Vaccines, Thrombosis, Diabetes, Anaphylaxis, Ophthalmology, Cancer, Others), Market Segment by Molecule (Large Molecules, Small Molecules), Market Segment by End User (Hospital and Clinics, Homecare Settings, Research Laboratories, Pharma & Biotech Companies, Others) plus COVID-19 Impact Analysis and Recovery Pattern Analysis (“V”-shaped, “W”-shaped, “U”-shaped, “L”-shaped), Profiles of Leading Companies, Region and Country.
The pre-filled syringes market was valued at US$3,944.2 million in 2022 and is projected to grow at a CAGR of 8.41% during the forecast period 2023-2033.
Rise in Next Generation Products to Meet the Increasing Demand
Pre-Filled syringes continue to advance in order to improve workflow, facilitate more automation at the fill/finish line, and increase output. Innovations in syringe design also improve patient and caregiver safety, boost productivity, and cut down on product and packaging waste. As the pre-filled syringes are fully packaged and ready to administer it prevents unnecessary handling before the actual application and saves time. It also lessens non-sterility concerns, medication errors and dilution problems.
Supplier innovations emphasize the convenience of pre-filled syringes and concentrate on expanding size options (especially for larger quantities), reducing waste, and improving patient and caregiver safety For example: Gerresheimer's product line for sensitive large molecules (biologics, biosimilars and biobetters) have added Gx RTF ClearJect COP needle syringe, 1.0-mL luer lock. Line expansions at West Pharmaceutical Services include insert needle syringes (the plastic equivalent of a staked needle glass syringe) as well as more options for needle sizes and product volumes. However, manufacturing challenges has led to the limited production of such type of syringes.
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How has COVID-19 had a Significant Impact on the Pre-Filled Syringes Market?
Pre-filled syringes (PFS) have been gaining acceptance and utility for some time, but COVID-19 has helped to accelerate adoption in some ways. The transition to PFS is being fuelled by the pandemic's direct and indirect effects on medication research, manufacturing, and healthcare systems, and it shows no signs of stopping; in fact, it appears to heat up significantly in the coming months.
Pre-Filled syringe technology has advanced as a result of COVID-19, particularly for low-temperature storage. For instance, BD positioned itself to open up a new COVID-19 vaccine opportunity in September 2021 by showcasing their glass pre-filled syringes, which are perfect for use with mRNA dosages that must be stored at ultralow temperatures. 2,000 syringes that were kept at minus 20 and minus 40 degrees Celsius were also examined by BD to determine how the temperatures affected the delivery tools. Additionally, syringes with varying glass barrel coatings, capacities, and other elements that might affect how they react to deep freezing were examined.
How will this Report Benefit you?
Visiongain’s 396-page report provides 161 tables and 252 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the pre-filled syringes market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for pre-filled syringes. Get financial analysis of the overall market and different segments including type, material, design, application, delivery, molecule and end user and capture higher market share. We believe that there are strong opportunities in this fast-growing pre-filled syringes market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
Growing Trend Towards Homecare-based Treatment
The combination of ease and safety for the patient and their caregiver is one of the key factors driving the expansion of pre-filled safety syringes in the context of increasing self-care. Patients who are older than their younger counterparts are frequently less agile and may have trouble giving themselves the proper amount. Therefore, it is essential that self-administration devices be as easy to use as feasible, need little force to activate, and include passive safety safeguards to minimise unnecessary activation steps. Pre-Filled safety syringes and autoinjector devices, which feature automatically retracted needle mechanisms, simultaneously satisfy the requirements for convenience of use and safety device.
Adequate safeguards and equipment are essential to guarantee the security of home drug delivery because the trend toward self-care and living at home is expected to grow. Self-administration is becoming more popular, and pre-filled syringes and safety-engineered devices are in high demand globally. In view of growing scrutiny from health authorities, pre-filled safety engineered devices are addressing the varied needs of users who need safety precautions, sharps protection, precise dosing, and high usability for elderly patients.
Growing Awareness to Augment Industry Growth
The usage of manufacturer-prepared RTA pre-filled syringes has received more attention and guidance. Guidelines and recommendations for the use of drugs in RTA form have been made by organisations including TJC, ASHP, and the Centres for Medicare & Medicaid Services (CMS).
To support safe IV push medication practise, the guidelines and publications have developed from a pharmacy-centred workflow to incorporate the nursing medication administration workflow. The effects of RTA pre-filled syringes on patient safety, clinical workflows, and overall cost are still being studied by researchers.
To reduce the requirement for manipulation outside the pharmacy's sterile compounding facility, Gorski et al published in 2021 that INS recommends using IV push drugs in RTA form for adults.
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Where are the Market Opportunities?
Growth of Biologics & Biosimilars Industry to Offer Lucrative Growth Prospects
The pharmaceutical industry's driving force is quickly evolving to be biologics. The majority of biologics are still primarily administered by injection, so there is a need for cutting-edge drug delivery methods that are convenient and simple to use. Pre-Filled syringes are now widely used as injectable drug delivery devices, particularly for the treatment of chronic illnesses that call for recurrent medicine administration. Due to the benefits of pre-filled syringes, the US-FDA permits a biosimilar in "a pre-filled syringe or in an auto-injector device" even if the reference product is allowed in a vial presentation (both are considered the same "injectable" dosage form). This is a significant component in the US law since it expresses the FDA's preference for a pre-filled syringe over a vial. It also covers the possibility of a pre-filled syringe presentation for a biosimilar in circumstances where the originator possesses a biologic/drug plus device with patent or trademark protection.
The major players operating in the pre-filled syringes market are AptarGroup, Inc., Baxter, BD (Becton Dickinson and Company), Biocon, Cardinal Health, Catalent Inc., Datwyler Holding Inc., Elcam Medical, Fresenius SE & Co. KGaA, Gerresheimer AG, Haselmeier, Jiangsu Micsafe Medical Technology Co., Ltd, MedXL Inc., Nipro Medical Corporation, Owen Mumford, Schott, Terumo Corporation, West Pharmaceutical Services, Inc. and Ypsomed AG. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
In November 2022, pre-filled syringes with RFID labels were launched by Schreiner MediPharm and SCHOTT Pharma.
In September 2022, BD introduced a next-generation glass prefillable syringe (PFS) that sets a new standard in performance for vaccine PFS with new and tightened specifications for processability, cosmetics, contamination and integrity. The new BD Effivax Glass Prefillable Syringe has been designed in collaboration with leading pharmaceutical companies to meet the complex and evolving needs of vaccine manufacturing.
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