Prefilled Syringes Market Size to Surpass USD 16.32 billion by 2030, exhibiting a CAGR of 10.9%

Pune, India, July 17, 2023 (GLOBE NEWSWIRE) — The prefilled syringes market size was valued at USD 7.22 billion in 2022 and is projected to reach a valuation of USD 7.91 billion in 2023. The market is expected to reach USD 16.32 billion by 2030 with a CAGR of 10.9% during the forecast period. Prefilled syringes are injectable and are designed to administer the drugs using the parental route. Rising cases of chronic diseases and other autoimmune diseases are set to fuel the demand for these syringes. An increasing number of product launches by key players and healthcare professionals’ high adoption of the products. Fortune Business Insights™ shares this information in its report titled “Prefilled Syringes Market, 2023-2030.”

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Key Industry Development:

February 2023– Fresenius Kabi AG announced the launch of Stimufend (pegfilgrastim-fpgk), in the U.S. for patients undergoing chemotherapy. It is set to reduce the cases of infection caused by febrile neutropenia. The drug is available in a 6 mg/0.6 mL solution in a single-dose pre-filled syringe combined with a passive needle guard.

Key Takeaways:

• As of January 2022, Cardinal Health reported there were 33 biosimilars approved by the FDA, with 21 currently accessible in the U.S. market.
• Administering parenteral drugs through pre-filled injections is considered the contemporary method for self-injection.
• A recall was issued by Nephron Pharmaceuticals Corporation, a company located in the United States, for 20 prefilled syringes that contained medications such as ketamine, epinephrine, and oxytocin.
• In November 2022, Schreiner Group and SCHOTT Pharma introduced a pre-filled syringe integrated with RFID technology.

Discover the Leading Players Featured in the Report:

B.D. (U.S.), Gerresheimer AG (Germany), SCHOTT AG (Germany), West Pharmaceutical Services Inc. (U.S.), Helvoet Rubber & Plastic Technologies BV (Netherlands), Nipro PharmaPackaging International (Belgium), AptarGroup, Inc. (U.S.), Terumo Corporation (Japan)

Report Scope & Segmentation

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Segmentation:

Glass Segment Dominated in 2022 Due to Its High Preference

On the basis of material, the market is divided into glass and plastic. The glass segment dominated the market in 2022 as it is highly preferable for manufacturing due to the substantial barrier property of the glass.

Stalked Needle System Held Dominant Share Due To High Usage  

By route of closing system, the market is classified into staked needle system, luer cone system, and luer lock form system. Stalked needle system segment held the largest market share in 2022 owing to its speedy usage.

Complete Syringe Segment Held Dominant Share With Increasing Demand   

By product, the market is classified into complete syringe set and components & accessories. The complete syringe segment held the largest market share due to growing demand for these products for effective drug delivery and rising demand for self-injectable delivery systems among patients.

Single-Chamber Held the Largest Share Due to an Increasing Number of Technological Innovations

According to the design, the market is classified into single-chamber, double-chamber, and multiple-chamber. The single-chamber segment held the largest market share due to growing technological innovations and shifts in preference for the single-chamber.

Pharmaceutical & Biotechnology Companies Led with Their Engagement in Biologics, Vaccines, and Biosimilars  

On the basis of end-user, the market is classified into pharmaceutical & biotechnology companies, contract research & manufacturing organizations, and others. Pharmaceutical & biotechnology companies held the largest market share as these companies are engaged in biologics, vaccines, and biosimilars.

Based on geography, the market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

By Material

By Closing System

• Staked Needle System
• Luer Cone System
• Luer Lock Form System

By Product

• Complete Syringe Set
• Components & Accessories

By Design

• Single-chamber
• Double-chamber
• Multiple-chamber

By End User

• Pharmaceutical & Biotechnology Companies
• Contract Research & Manufacturing Organizations
• Others

By Region

• North America
• Asia Pacific
• Latin America
• Middle East & Africa

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Driving factor:

Innovations in The Pre-Filled Products for Biologic Drugs to Drive Market Growth

Innovations in the pre-filled products for biologic drugs are anticipated to drive the prefilled syringes market growth. Increasing demand for biological drugs and growing innovations in injectable delivery solutions are set to create market growth opportunities. Additionally, the rising cases of cancer, autoimmune diseases, and other non-communicable diseases are likely to increase the demand for biological drugs. 

Regional insights:

Europe Held the Largest Share Due to Increasing Number of Patients Using Biologics

Europe held the largest part in 2022 in prefilled syringes market share due to the increasing number of patients using biologics as treatment options for chronic diseases. The market is valued at USD 2.91 billion in 2022 due to the strong adoption of advanced delivery methods for the self-injection of drugs.

American market is set to be the second-largest regional market due to the rise in several chronic diseases, such as diabetes and rheumatoid arthritis.

Competitive Landscape

Strong Focus On Strategic Partnerships Amongst the Market Players

The market is led by Becton Dickinson and Company (B.D.), Gerresheimer AG, SCHOTT AG, and West Pharmaceutical Services Inc. These market players dominated the market in 2022 and are expected to continue their dominance and generate significant revenue. Moreover, a strong focus on strategic partnerships amongst the market players is likely to support expanding their footprints in the global market.

FAQs

How big is the prefilled syringes market?

The global prefilled syringes market size was estimated at USD 7.22 billion in 2022 and is expected to reach USD 7.91 billion in 2023.

What is the global market for pre-filled syringes?

The global prefilled syringes market size was valued at USD 7.91 billion in 2023, and is projected to reach USD 16.32 billion by 2030, registering a CAGR of 10.9% from 2023 to 2030.

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