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The global prefilled syringes market size was USD 4.31 billion in 2018 and is projected to reach USD 9.53 billion by 2026, exhibiting a CAGR of 10.4% during the forecast period.
Prefilled syringes are injectable drug delivery containers designed to administer drugs via the parenteral route. Pharmaceutical companies are considering prefilled syringes as one of the most effective ways of delivering a wide range of injectable drugs including biologics and biosimilars. This is the major factor contributing to the demand for prefilled syringes. Prefilled syringes enable easy and quick delivery of drugs in case of emergencies. Growing need for self-administration of drugs to treat chronic diseases is likely to boost the demand for prefillable syringes during the forecast period.
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Rising incidence of chronic diseases, such as diabetes and other autoimmune diseases, is likely to fuel the prefilled syringes market demand in the forthcoming years. For instance, according to the American Autoimmune Related Diseases Association Inc. (AARDA), about 50 million Americans suffer from autoimmune disorders currently. Growing demand for biological drugs and innovations in prefilled syringe technologies to fulfill the unmet needs for the treatment of chronic disease across the globe is likely to support the prefilled syringe market growth. Combined with this is the growing number of product launches by many key players and increased adoption of the products by healthcare providers, which are likely to boost the market during the forecast period.
“Growing Demand for Biological Drugs and Rise in Product Launches to Drive the Market”
Increasing demand for biological drugs and growing preference for prefilled syringes for the administration of biologics and biosimilars are likely to drive the prefilled syringes market growth during the forecast period. Biological drugs have attracted the attention of leading players as they target diseases that had no or very limited treatment options available such as several types of cancer, autoimmune diseases, and other non-communicable diseases.
Rising prevalence of cancer, autoimmune diseases, and other non-communicable diseases is likely to increase the demand for biological drugs. For instance, according to the National Cancer Institute, an estimated 1,735,530 new cancer cases were diagnosed in the U.S. in 2018. This number is expected to rise to 23.6 million by 2030, leading to an increase in demand for biologics in the U.S. in 2018.
Healthcare providers such as nurses, doctors, operators, lab technicians, etc., face the risk of needle stick injuries associated with administration of dosage through parenteral routes such as intravenous or subcutaneous.
This increases the risk of getting infected with life-threatening diseases such as HIV and other infectious diseases. Thus, exposure of healthcare practitioners to blood-borne pathogens causing infectious diseases as a result of injuries from needle sticks is a significant public health concern.
The US Centers for Disease Control and Prevention (CDC) estimated that about 600,000 sharp injuries occurred in healthcare, with about half of those injuries occurring in US hospitals. Growing emphasis on safety from needle stick injuries to healthcare providers is expected to drive the prefillable syringe market growth during the forecast period.
“Rise in Technological Innovations to Drive Plastic Segment Growth”
Based on material, the market segments include glass and plastic. Among them, the glass segment held the largest market share in the year 2018. Glass has strong barrier properties which make it preferred material for the manufacturing of prefilled syringes. Additionally, glass is highly compatible with different filling drug machines. However, certain concerns over glass quality such as breakage issues and the reaction of glass ions with the drugs are likely to shift the preference from glass prefilled syringes to plastic prefilled syringes.
The plastic segment is anticipated to be the fastest-growing segment during the forecast period owing to the presence of key players involved in developing plastic prefilled syringes and growing technological innovations offering advantages over glass prefilled syringes.
“Luer Lock Form System to Exhibit Significant Growth Rate in the Market”
Based on the closing system, this market has been segmented into a staked needle system,
Luer cone system, and Luer lock form system. Among them, the staked needle system segment captured a major share in the prefilled syringes market owing to the speedy usage of the staked needle system. However, rising incidence of needle stick injuries is likely to reduce the growth rate of the staked needle system segment in the coming years.
Technological advancements in the Luer lock form systems are making them more secure by preventing needle stick accidents. Moreover, the twisting mechanism forming a locked connection in the Luer lock form system has reduced the leakage of liquid drugs, further augmenting the segment growth at a faster pace during the forecast period.
“Complete Syringe Set to Hold Lion’s Share in Prefilled Syringes Market”
Based on product, the market has been segmented into a complete syringe set and components & accessories. Among them, the complete syringe set segment captured a major portion of the prefilled syringe market share owing to the growing demand for prefilled syringes for effective drug delivery and rising demand for self-injectable delivery system among patients. The components & accessories segment is expected to register moderate growth in the market in the forthcoming years. This is attributed to the lower demand among drug manufacturing companies for independent components for prefilled syringes in comparison to the complete set of prefilled syringes.
“Single Chamber Segment to Capture the Largest Market Share”
Based on design, the market has been segmented into single chamber, double- chamber, and multiple chambers prefilled syringes. Among them, the single-chamber segment captured a major share in the prefilled syringes market and is likely to exhibit a significant CAGR during the forecast period.
Growing technological innovations and shift in preference from a single chamber to the dual-chamber system are likely to enhance the demand for the double-chamber system during the forecast period. Dual-chamber prefilled syringes are highly efficient for storing the biological components that are unable to retain their stability for a longer period. Moreover, the growing penetration of lyophilized drugs worldwide is likely to raise the demand for dual-chamber prefilled syringes during the forecast period. There has been a growing frequency of launches of multiple chamber prefilled syringes by many key players and this will increase the adoption of the multiple chamber segment during the forecast period.
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“Contract Research & Manufacturing Organizations Segment to Witness Accelerated Growth”
Based on end-user, the market has been categorized into pharmaceutical & biotechnology companies, contract research & manufacturing organizations, and others. Among them, the pharmaceutical & biotechnology companies segment captured a major share in the prefilled syringes market. The fast-expanding pharmaceutical companies all over the globe are majorly engaged in biologics, vaccines, and biosimilars. These companies have increased their demand for new drug delivery systems, such as prefilled syringes, that are prescribed with a unit dose of medication for better patient compliance. Moreover, growing number of early-stage, well-funded biotech companies focused on drug discovery and development is likely to boost the demand for prefilled syringes for the effective delivery of drugs. This rise in the demand for innovative injectable drug delivery systems is likely to boost the pharmaceutical & biotechnology companies segment growth during the forecast period.
Contract research & manufacturing organizations segment is likely to expand at a significant rate during the forecast period owing to the presence of innovative technologies offering filling services.
Availability of skilled technical personnel in the line of implementation of prefilled syringes technologies is likely to boost the demand for prefill services during the forecast period. Moreover, rising consolidations in the form of acquisitions among contract manufacturing organizations and pharma/biotech companies are expected to expand the product manufacturing capacities at a faster pace. In combined to this, rising number of contract research & manufacturing organizations in both developed and emerging nations is likely to boost this segment's growth during the forecast period.
Geographically, the prefilled syringes segments include North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Among them, Europe dominated the prefilled syringes market share during the forecast period. Increasing number of patients using biologics as treatment options for chronic diseases and strong adoption of prefilled syringes as self-injecting drug devices are the major factors likely to boost the demand for pre-fillable syringes in Europe. In addition to that, the presence of key players engaged in the development of pre-fillable syringes in Europe is likely to boost the market growth.
North America is likely to hold the second-largest market share after Europe owing to the rise in several chronic diseases such as diabetes and rheumatoid arthritis, which is likely to enhance the demand for prolonged drug administration at an accurate dosage. Growing product launches and growing presence of leading players with strong distribution networks are likely to boost the market growth in North America. The prefilled syringes market in Asia-Pacific is likely to witness fast-paced growth during the forecast period, majorly owing to increasing prevalence of chronic diseases, rise in usage of prefilled syringes, and rapidly growing patient population.
Europe Prefilled Syringes Market Size,2018
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Moreover, rising awareness regarding innovations in prefilled syringes and significant growth in contract manufacturing companies outsourcing prefilled syringes packaging & filling services are likely to play pivotal role in boosting the market growth in Asia Pacific region.
Latin America and Middle East & Africa are likely to experience slow growth in this market owing to the lower awareness about the innovative prefilled syringes and slow penetration of the market in these regions, as per the prefilled syringe market report.
“Strong Product Offerings by Key Players to Propel the Prefilled Syringes Replacement Industry Growth”
BD, Gerresheimer AG, SCHOTT AG, and West Pharmaceutical Services Inc. are the leading players in this market with a strong brand presence combined with a wide range of product offerings. These players are likely to continue their dominance in the area of prefilled syringes and generate significant revenue in the forthcoming years owing to the robust research activities and continuous investments in innovative product development for the launch of cost-effective and highly effective parenteral drug delivery system. Moreover, a strong focus on strategic partnerships with other players is likely to support the expansion of their footprints in the prefilled syringes market.
Other players involved in the distribution and manufacturing of prefilled syringes with a considerable market share include Helvoet Rubber & Plastic Technologies BV, Nipro PharmaPackaging International, AptarGroup, Inc., Terumo Corporation, and other prominent players.
An Infographic Representation of Prefilled Syringes Market
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The prefilled syringes market report provides detailed information regarding various insights into the market. Some of them are growth drivers, restraints, competitive landscape, regional analysis, and challenges. It further offers an analytical depiction of the prefilled syringes market trends and estimations to illustrate the forthcoming investment opportunities. The market is quantitatively analyzed from 2015 to 2026 to provide the financial competency of the market. The information gathered in the report has been taken from several primary and secondary sources.
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Value (USD Million)
By Closing system
As per our (Fortune Business Insights) study, the prefilled syringes market is predicted to reach USD 9.53 Bn by 2026.
In 2018, the prefilled syringes market was valued at USD 4.31 Bn.
The prefilled syringes market is projected to grow at a CAGR of 10.4% during the forecast period (2019-2026).
The glass segment is the leading segment in the prefilled syringes market by material.
Rising prevalence of chronic disease diseases combined with increasing demand for biologics as treatment options, increasing awareness of advanced prefilled syringes, and growing product launches are the key factors driving the growth of the prefilled syringes market.
BD, Gerresheimer AG, SCHOTT AG, and West Pharmaceutical Services Inc., are the top players in the prefilled syringes market.
Europe is expected to hold the highest share in the prefilled syringes market.
Contract Research & Manufacturing Organizations segments in the end-user category are expected to drive the adoption of the prefilled syringes market.
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