Prefilled syringes are expected to reach US$ 6,656.9 million in 2022 and are expected to grow at a CAGR of 10.6% over the following seven years, with the market segmented by type (safety prefilled syringes and conventional prefilled syringes), material type (plastic and glass), design (customised, single-chamber, and dual-chamber), end user (clinics, and hospitals), and region (Africa, North America, Latin America, Middle East, Europe, and Asia Pacific) from 2022 to 2030.
More prefilled syringe approvals are predicted to fuel market expansion throughout the course of the projection period. For instance, in May 2021, the U.S. Food & Drug Administration (FDA) finalised the approval of Shire Human Genetic Therapies, Inc.’s Icatibant Injection, a substitute for Firazyr1 Injection, Glenmark Pharmaceuticals Limited, an Indian multinational pharmaceutical company and 30 mg/3 mL (10 mg/mL) Single-Dose Prefilled Syringe.
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The financial standing of companies in all industries, including the private healthcare sector, has been harmed by the COVID-19 epidemic and lockdowns in several nations throughout the world. Due to rigorous lockdown in certain areas, the COVID-19 pandemic has affected the whole supply chain of the healthcare business. One area where the COVID-19 epidemic has had a big influence is private healthcare.
However, the COVID-19 pandemic prompted researchers in the medical field to study more about the potential benefits of prefilled syringes. Prefilled syringe demand skyrocketed throughout the COVID-19 outbreak. The COVID-19 pandemic had a positive impact on the market for prefilled syringes because of increased government funding and incentives for their creation. The U.S. Department of Health and Human Services (US HHS), an executive branch department at cabinet level, and the Department of Defense (DOD), America’s largest government institution, awarded a grant of US$138 million to Apiject Systems America, a producer of plastic syringes, in May 2020 for the production of numerous prefilled syringes for a potential vaccine against the novel coronavirus.
Additionally, growing expenditures by major players to increase the capacity of prefilled syringe production are anticipated to fuel market expansion over the forecast period. For instance, in December 2020, BD, a major global provider of medical technology, declared that it would spend roughly US$ 1.2 billion over the course of four years to modernise and increase its manufacturing capabilities for prefilled syringes and advanced drug delivery systems (ADDS) at six of its locations worldwide, as well as to add a new manufacturing facility in Europe.
The market for prefilled syringes is forecast to expand at a CAGR of 10.6% during the projected period as a result of the increasing number of prefilled syringe approvals by regulatory agencies. For instance, the U.S. Food and Drug Administration authorised Takeda Pharmaceutical Company Limited in February 2022 to commercialise TAKHZYRO (lanadelumab-flyo), an injectable single-dose prefilled syringe (PFS), to treat individuals 12 years of age and older who have hereditary angioedema (HAE).
Due to the major players’ better marketing and product launch at events, the glass segment is anticipated to have a substantial position among material types in the worldwide prefilled syringes market throughout the projected period. For instance, the German multinational glass producer Schott AG showcased their product, the syriQ BioPure lubricant-free, at DCAT 2019, the premier annual gathering of businesses involved in the value chain of bio/pharmaceutical manufacturing in New York City. This is the first prefillable glass syringe (PFS) that does not require silicone or other similar materials at all.
North America is predicted to have the largest market share in the global prefilled syringes market during the forecast period due to the growing number of regulatory licences given to the leading companies in the area by the regulatory bodies. In August 2019, American biotechnology company Regeneron Pharmaceuticals Inc. announced that the FDA had approved the EYLEA (aflibercept) Injection prefilled syringe. The CMC Prior-Approval Supplement (PAS), essential to achieving a successful registration filing and a crucial component of any pharmaceutical product application to the U.S. Food and Drug Administration (FDA), was approved by the FDA. EYLEA is given to treat wet age-related macular degeneration, diabetic retinopathy, diabetic macular edoema, and retinal vein occlusion-related macular edoema (Wet AMD).
SHL Medical AG, BD, Oval Medical Technologies Ltd., Gerresheimer AG, SCHOTT AG, NIPRO PHARMA CORPORATION, West Pharmaceutical Services, Inc., Weigao group, Vetter Pharma International, Catalent, Inc., Stevanato Group, Terumo Corporation are significant market participants in the prefilled syringes market.
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Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Prefilled Syringes Market Size Analysis from 2022 to 2028
11.6 COVID-19 Outbreak: Prefilled Syringes Industry Impact
Chapter 2 Global Prefilled Syringes Competition by Types, Applications, and Top Regions and Countries
2.1 Global Prefilled Syringes (Volume and Value) by Type
2.3 Global Prefilled Syringes (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Prefilled Syringes Sales, Consumption, Export, Import by Regions (2017-2022)
Chapter 5 North America Prefilled Syringes Market Analysis
Chapter 6 East Asia Prefilled Syringes Market Analysis
Chapter 7 Europe Prefilled Syringes Market Analysis
Chapter 8 South Asia Prefilled Syringes Market Analysis
Chapter 9 Southeast Asia Prefilled Syringes Market Analysis
Chapter 10 Middle East Prefilled Syringes Market Analysis
Chapter 11 Africa Prefilled Syringes Market Analysis
Chapter 12 Oceania Prefilled Syringes Market Analysis
Chapter 13 South America Prefilled Syringes Market Analysis
Chapter 14 Company Profiles and Key Figures in Prefilled Syringes Business
Chapter 15 Global Prefilled Syringes Market Forecast (2022-2028)
Chapter 16 Conclusions
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