The Prefilled Syringes Market is estimated to be valued at US$ 6.44 billion in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Prefilled syringes are medical devices that are prefilled with a dose of a drug that can be administered without withdrawing the content into a syringe or retracting the syringe plunger. They are commonly used for subcutaneous, intramuscular and intravenous injections.

Market Dynamics:
Growing prevalence of chronic diseases such as diabetes, cancer and autoimmune disorders coupled with the increasing adoption of self-administration of drugs are the major factors expected to drive the growth of the prefilled syringes market over the forecast period. According to the International Diabetes Federation, in 2021, approximately 537 million adults aged 20-79 years were living with diabetes worldwide and this number is expected to rise to 643 million by 2030 and 784 million by 2045. Moreover, prefilled syringes offer higher dosing accuracy as well as greater control over drug delivery compared to vials, which is further augmenting their demand.

Market key trends:
The prefilled syringes market has been witnessing rising adoption in recent years owing to rising prevalence of chronic diseases and innovations in syringe technologies. Key syringe technologies seeing increasing usage include the glass prefilled syringes and plastic prefilled syringes. Glass prefilled syringes allow for use of larger drug volumes and offer good barrier properties for drug and coating compatibility. However, plastic prefilled syringes are lighter and have better break resistance features over glass, making them suitable for home healthcare.


SWOT Analysis
Strength: Easy to administer; reduced risk of contamination and dosing errors.
Weakness: Comparatively higher cost than vials; limited drug volumes.
Opportunity: Growing demand for injectable drug delivery; self-administration of biologics.
Threats: Competition from alternative drug delivery modes; regulatory hassles.


Key Takeaways

The Global Prefilled Syringes Market size is expected to witness high growth, exhibiting CAGR of 5.6% over the forecast period, due to rising prevalence of chronic diseases and growing need for prefilled syringes to prevent dosing errors and reduce contamination risks.

The US dominates the regional prefilled syringes market owing to high adoption of self-injection devices for home healthcare. Europe follows next supported by rising popularity of biologics in countries like UK, Germany and France. Asia Pacific is expected to be the fastest growing regional market for prefilled syringes over the next few years, driven majorly by China and India.

Key players operating in the prefilled syringes market are Gerresheimer AG, Becton, Dickinson and Company, West Pharmaceutical Services, Inc., Terumo Corporation, Nipro Europe Group Companies, B. Braun SE, Sanofi, GSK plc., Pfizer Inc., Bayer AG, Polymedicure, Amsino International, Inc., Leeford Healthcare Limited, Torrent Pharmaceuticals Ltd., Regeneron Pharmaceuticals Inc., Ypsomed AG, SOL-Millennium, and Stevanato Group S.p.A. Major players are focused on expanding their offerings and global footprint through mergers and acquisitions.

Read More:

http://insightskies.weebly.com/blog/prefilled-syringes-market-estimated-to-witness-high-growth-owing-to-greater-adoption-and-technological-advancements