Reports and Insights (R&I) has published a new report titled, "Prefilled Syringes Market: Opportunity Analysis and Future Assessment 2020-2028"
The global Prefilled Syringes market is segmented based on drug molecule, indication, material, type, design, and region. Based on the drug molecule, the Prefilled Syringes market is segmented as vaccines, insulin, hormones, opioids, and others. Based on indication, the global prefilled syringes market is segmented as diabetes, cardiovascular disease, immunization, pain management, and others. Based on material type the market is segmented as glass and polymer type syringes, based on type the profiled syringed market is segmented into conventional and safety syringes. On the basis of design, the market is segmented as single, dual, and customized chambers. By distribution channel segmented as hospital pharmacy, retail pharmacy, drug store and others and by region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to favor the growth in prefilled syringes market in the near future.
The global prefilled syringes market in 2020 is estimated for more than US$ 5.5 Bn and expected to reach a value of US$ 10.9 Bn by 2028 with a significant CAGR of 8.9%.
As per the report, the reason that favors the growth in the prefilled syringes market is the increase in the rate of adoption for self-administration of certain type of drugs, which are safe and regularly required by the patient. Along with this reason the cost saving is one of the additional characteristics that supports the rise in awareness for the prefilled syringes.
Furthermore, the prefilled syringes are provided with already filled drug and auto-injector with the required dose of the drug that helps the patient to safely administer the drug anywhere with perfect bioavailability. Prefilled syringes have their own benefit in many of the therapeutic forms that can be used as vaccines and blood stimulants. Basically, the ease in use and negligible dose administration errors are the major contributing drivers in the growth of prefilled syringes market share.
Furthermore, Reports and Insights (R&I) states that the rise in the overall injectables market globally underpins the growth in the prefilled syringes market along with the increase in the biotech products gradually. The reason behind this exclusive increment is the quick action of the medical dose and bioavailability of the content in the body. Furthermore, the safety point of view is a crucial factor that supports the growth in the market in the near future.
The rise in the number of high-cost medicines and their distribution in the market has offered the manufacturers the users to limit the wastage by reducing the overfill of the content, which in turn finally helps the patient to get the actual required to be used for a particular indication.
However, the prefilled syringes is the category that is at the mid-stage of the parameters such as medical field have more technologically advanced drug delivery systems such as aqueous droplet inhalers or needle-free jet injectors along with low range techniques such as traditional syringes, vials, and ampoules.
R&I Study identifies some of the key participating players in the Prefilled Syringes market globally are Becton, Dickinson and Company, Stevanato Group, Unilife Corporation, Gerresheimer AG, SCHOTT AG, West Pharmaceutical Services, Inc., Ompi, Catalent, Inc., Weigao Group, Vetter Pharma International GmbH, Nipro Corporation, and MedPro Inc.
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