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Prefilled Syringes Market Analysis, Trends, and Forecast 2022- 2029 by Renub Research

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Renub Research has recently published a report titled “Prefilled Syringes Market, Global Forecast 2023-2029, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis” providing a comprehensive analysis of the industry that includes market share insights. In addition, the report comprises competitor and regional research and contemporary extension. Prefilled Syringes Market is projected to reach a value of US$ 15.63 Billion by 2029. Prefilled syringes are a convenient and safe way to administer medication. They are becoming increasingly popular in a wide range of therapeutic sectors, including anticoagulants, vaccines, and self-administered injectable. Prefilled syringes offer a number of advantages over traditional vials, including: Simplicity, Suitability for home use, Reduction in wasted products, Greater dose precision and Greater patient safety. The use of prefilled syringes is expected to continue to grow in the coming years. This is due to the increasing demand for convenient, safe, and effective ways to administer medication.

 

The growing demand for self-injection devices is likely to surge the demand of Prefilled Syringes worldwide. As more and more patients are taking injectable medications at home, there is a growing demand for self-injection devices that are easy to use and safe. Prefilled syringes are a popular option for self-injection, as they are easy to use and can be administered with minimal pain. The prefilled syringes market is a dynamic and growing market, and it is expected to continue to grow in the coming years. The market is being driven by a number of factors, including the expansion of home healthcare services, the rising use of injectable medications, the increasing prevalence of chronic diseases, and the development of new technologies.

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Disposable prefilled syringes captured the largest market share of Global Prefilled Syringes Industry

Disposable Syringes are often pre-filled and pre-measured, which reduces the risk of medication errors. Disposable devices are projected to see increased demand due to their ability to reduce contamination risks. Needlestick injuries can be caused by unsafe activities, such as reusing a prefilled syringe and needle without taking the necessary precautions. While traditional disposable prefilled syringes protect the recipient, they do not guarantee patient safety. As a result, the preference for patient safety has led to an increase in the use of disposable devices in hospitals and home care settings. These factors are expected to drive the growth of Prefilled Syringes Market.

 

Reusable prefilled syringes are expected to grow at the fastest pace during the forecast period. The growth of the reusable prefilled syringes market is being driven by a number of factors, including cost savings, increased demand for multi-dose devices, and government initiatives. The Prefilled Syringes Market is expected to continue to grow in the coming years, as more and more patients and healthcare providers adopt reusable devices.

By Type: Prefilled Syringes Market breakup from 2 Viewpoints

  • Disposable Prefilled Syringes
  • Reusable Prefilled Syringes

 

Glass-based products contributed significantly to the worldwide market

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Presently, glass syringes stand as the prevailing choice within the prefilled syringe industry. They are easy to use and inspect for particulate impurities, and they are inert, which means they do not react with the medication. However, glass syringes are fragile and can break easily during transportation, and they are also more expensive than plastic syringes. The demand for glass syringes is also being limited by the increasing demand for safer products that enable self-administration of medication. Glass syringes are not as easy to use as plastic syringes, and they can be more difficult to self-administer. As a result of these factors, Plastic syringes are becoming increasingly popular because they are less expensive, more durable, and easier to transport. Plastic syringes are also available in a wider variety of sizes and shapes, which makes them more versatile.

By Material: Prefilled Syringes Market breakup from 2 Viewpoints

  • Glass
  • Plastic

Single-chamber prefilled syringes are the most popular type of prefilled syringe in the market

Due to rising prefilled syringe demand, rising prefilled syringe benefits, and rise in chronic illness prevalence, single-chamber prefilled syringes are predicted to maintain their dominance during the projected period. Single-chamber prefilled syringes allow for more efficient use of the active pharmaceutical ingredient (API). This is because the API is already pre-measured and pre-filled into the syringe, which reduces the amount of waste. Single-chamber prefilled syringes can help to reduce pharmaceutical waste in clinical trials. Single-chamber prefilled syringes require less material than vials. This is because they do not need to be sealed, which can save on costs.The prevalence of chronic diseases and the advantages of self-administered parenteral medications have also led to an increase in the use of single-chamber prefilled syringes.

By Design: Prefilled Syringes Market breakup from 3 Viewpoints

  1. Single-Chamber
  2. Dual-Chamber
  3. Customized

 

During the forecast period, the diabetes segment is anticipated to continue to have a sizable market share in Prefilled Syringe Industry

Diabetes, a persistent condition that disrupts the body’s ability to convert food into energy, demands the regular administration of insulin—an indispensable hormone for efficient glucose utilization. Among the various methods of insulin delivery, prefilled syringes have garnered immense popularity due to their user-friendly design and convenient portability. According to the authoritative findings of the International Diabetes Federation (IDF), the year 2021 witnessed an alarming impact, with an estimated 537 million adults, aged between 20 and 79, grappling with diabetes. These numbers are anticipated to surge significantly, reaching a projected 63 million individuals by 2030, and an astonishing 783 million by 2045. This soaring prevalence of diabetes emerges as a powerful impetus propelling the remarkable growth of the prefilled syringes market.

People with diabetes need to take insulin regularly. Prefilled syringes are a convenient and easy way to take insulin. They are also relatively inexpensive, which makes them a good option for people with diabetes who are on a budget. In addition to the increasing prevalence of diabetes, the growth of the prefilled syringes market is also being driven by the need for effective and safer insulin delivery devices. Prefilled syringes are more accurate than traditional vials and needles, which can help to reduce the risk of medication errors. Prefilled syringes are also less likely to cause pain than traditional vials and needles, which can make them a more comfortable option for people with diabetes.

By Application: Prefilled Syringes Market breakup from 5 Viewpoints

  1. Diabetes
  2. Rheumatoid Artheitis
  3. Anaphylaxis
  4. Antithrombotic/Thrombolytic Therapy
  5. Others

Majority of prefilled syringes are used in hospitals worldwide in upcoming years

Hospitals are the largest consumers of prefilled syringes. This is because hospitals use prefilled syringes to administer a wide variety of medications, including vaccines, antibiotics, and chemotherapy drugs. The growth of the hospital segment is being driven by the increasing demand for healthcare services, the rising prevalence of chronic diseases, and the growing focus on preventive care.

The growth of the hospital segment is also being supported by the increasing emphasis on the construction of healthcare infrastructure in emerging markets. In emerging markets, such as those in European countries, Asia Pacific and Africa, there is a growing need for hospitals and other healthcare facilities. This is due to the increasing population, the rising incomes, and the growing awareness of the importance of healthcare.

By Distribution Channels: Prefilled Syringes Market breakup from 4 Viewpoints

  1. Hospital
  2. Blood Collection Centers
  3. Diabetic Care Centers
  4. Others

 

Asia Pacific is expected to hold a significant market share in the studied market over the forecast period

The Asia Pacific prefilled syringes market is expected to grow at a significant rate during the forecast period. This growth is attributed to a number of factors, including the development of fast-growing economies and the presence of a huge untapped market. Favorable demographic factors, such as the large population and growing prevalence of various chronic diseases, are also expected to fuel the market growth in the region.

China is one of the largest markets for prefilled syringes in Asia Pacific. The country has a large population and a growing middle class, which is driving the demand for healthcare products. China also has a well-established healthcare infrastructure, which is supporting the growth of the prefilled syringes market.

Other major markets for prefilled syringes in Asia Pacific include India, Japan, and South Korea. These countries have large populations and are experiencing a rise in chronic diseases, such as diabetes and cancer. This is driving the demand for prefilled syringes, which are a convenient and safe way to administer medication.

By Region: Prefilled Syringes Market breakup from 5 Viewpoints

  1. North America
  2. Europe
  3. Asia-Pacific
  4. Latin America
  5. Middle East & Africa

 

Key Company

The following companies are significant market players in the prefilled syringes industry: Gerresheimer AG, Medtronic Plc, Abbott Laboratories, Bayer AG, Baxter International Becton, and Catalent, Inc.

Some of the prominent players in the global prefilled syringes market include:

  1. Gerresheimer AG
  2. Medtronic Plc
  3. Abbott Laboratories
  4. Bayer AG,
  5. Baxter International
  6. Becton
  7. Catalent, Inc.

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