(PharmaNewsWire.Com, June 27, 2020 ) The report "Prefilled Syringes Market by Material (Glass, Plastic), Type (Conventional, Safety), Design (Dual & Single-Chamber, Customized ), Region (North America (U.S.), Europe (Germany, UK, France), Asia-Pacific (Japan, India, China)) - Global Forecast", analyzes and studies the major market drivers, restraints, opportunities, and challenges in North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
The Prefilled Syringes Market is expected to reach USD 6.36 Billion, at a CAGR of 10.1% during the forecast period.
Increasing prevalence of chronic diseases, large patient population base, and benefits associated with prefilled syringes are the major factors driving the growth of this market. In addition, growing initiatives undertaken by leading market players to establish production facilities in both mature and developing markets are further aiding to the growth prospects of this market. However, product recalls, and low market presence of prefilled syringes with integrated safety features can hinder the growth of this market.
On the basis of material, the global prefilled syringes market is divided into two broad segments, namely, glass prefilled syringes and plastic prefilled syringes. The glass prefilled syringes segment is expected to account for the largest share of the market. The growth of this segment can be attributed to the high use of glass in manufacturing syringes owing to its nonreactive nature and heat and chemical resistance.
On the basis of type, the prefilled syringes market is segmented into conventional prefilled syringes and safety prefilled syringes. The conventional prefilled syringes segment is expected to account for the largest share during the forecast period. This growth can be primarily attributed to the comparatively low penetration of safety syringes.
On the basis of design, the prefilled syringes market is further segmented into single-chamber prefilled syringes, dual-chamber prefilled syringes, and customized prefilled syringes. The single-chamber prefilled syringes market is expected to command the largest share of the global prefilled syringes market. The increasing adoption of self-administered parenteral drugs is the key factor responsible for the growth of the single-chamber prefilled syringes market.
Europe is expected to hold the largest share of the global prefilled syringes market, followed by North America. However, the Asia-Pacific market is expected to grow at the highest CAGR. Factors such as increasing demand for self-administered treatments, high penetration of self-injection devices, growing aging population, increasing prevalence of diabetes, and huge patient population are driving the growth of prefilled syringes in the Asia-Pacific region.
Maior Key Players Mapped in Research Report:
Becton, Dickinson and Company (U.S.), Gerresheimer (Germany), SCHOTT AG (Germany), West Pharmaceutical Services, Inc. (U.S.), Ompi (Italy), Catalent, Inc. (U.S.), Weigao Group (China), Vetter Pharma International GmbH (Germany), Nipro Corporation (Japan), and MedPro Inc. (U.S.) are some of the key players operating in the prefilled syringes market.
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