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(Health-NewsWire.Net, April 02, 2020 ) [130 Pages Report] The Prefilled Syringes Market is expected to reach $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.
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The development of technologically advanced prefilled syringes and growing adoption of self-injection devices are the major trends in the prefilled syringes market. Key players in the prefilled syringes market are focusing on expanding their product portfolio with technologically advanced products in order to cater to the growing demand of these devices across the globe.
Market Segmentation in Detailed:
On the basis of type, the market is categorized into conventional prefilled syringes and safety prefilled syringes. The conventional prefilled syringes segment is expected to account for the largest share of the market in 2016. The increasing adoption of self-administered injectable drugs, rising prevalence of chronic diseases, and the benefits offered by prefilled syringes over traditional vial syringe systems are the key factors responsible for the growth of this segment.
On the basis of design, the market is segmented into a single-chamber, dual-chamber, and customized prefilled syringes. The single-chamber prefilled syringes segment is expected to account for the largest share of the market in 2016. The increasing adoption of self-administered parental drugs and the rising prevalence of chronic diseases are the key factors driving the growth of this segment.
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Geographical Analysis:
Geographically, the global prefilled syringes market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. In 2016, Europe commanded a major share of the prefilled syringes market. However, Asia-Pacific is expected to witness the highest growth rate during the forecast period. Growth in the Asia-Pacific market can be attributed to the increasing demand for self-administered treatments and the high penetration of self-injection devices, the growing aging population, and the increasing prevalence of diabetes.
Major Key Players in the Industry:
Becton, Dickinson, and Company (U.S.), Gerresheimer AG (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 in the prefilled syringes market.
MarketsandMarkets™
Mr. Sanjay Gupta
1-888-600-6441
raviraj.tak@marketsandmarkets.com
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