Wednesday, 4 January 2017
Global Prefilled Syringes Market Size To Reach USD 22.5 Billion By 2025: Hexa Reports
Key factors driving the market expansion include technological advancements in auto-injectors and growing usage of prefilled syringes owing to its reduced prices per dose.
Prefilled injecting devices are rapidly replacing traditional syringe-vial combinations due to certain associated advantages such as increased patient safety and convenience offered to healthcare practitioners in dose preparation.
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Growing trend of self-injecting devices adopted for the management of chronic diseases, such as diabetes and rheumatoid arthritis, are expected to boost the growth of auto injectors and pen injectors during the forecast period. Growing prevalence of these diseases and introduction of advanced devices with Wi-Fi and Bluetooth connectivity that facilitate effective management of patient health records are factors expected to boost the usage of such devices.
Application of prefilled injectors is currently limited to emergency rooms in hospitals and for the treatment of certain chronic diseases. These injection devices are considered ideal containers for vaccines and biotech drugs, which otherwise tend to become unstable and react with the material of the container that result in altered drug potency. Growing preference toward biotechnology drugs and the emerging biotech space presenting greater opportunities are expected to have a positive impact on the growth of the prefilled syringes market during the forecast period.
Further Key Findings from the Study Suggest:
The use of glass syringes to be high owing to their increasing preference amongst healthcare professionals; this is attributable to their ease of use and the low risk posed by these devices at the time of injection.
However, the plastic segmentis rapidly replacing the former with the introduction of advanced plastic materials, such as polypropylene and crystal clear polymer, which are biocompatible as glass.
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Europe dominated the prefilled syringes space in 2015. High adoption of patient safety measures and presence of large number of market players are the factors responsible for the dominance of the region.
North America region is expected to show the fastest growth rate during the forecast period due to rapid adoption of prefilled syringes in this region.
The market is presently dominated by few key participants such as Gerresheimer AG, Haselmeier AG, Nipro Medical Corporation, Unilife Corporation,Owen Mumford, SCHOTT, Datwyler Pharma Packaging, and Becton, Dickinson and Company.
The syringe manufacturing market is consolidated; however, various new players are bringing innovative technologies to this sphere,which can be used for the manufacturing of auto-injectors.