Prefilled
syringes (PFS) are the sterile primary packaging systems or sealed containers
that can also function as efficient drug delivery systems for the pre-loaded
desired dose of parenteral pharmaceutical product. By engineering easier
usability and improved patient experience into prefilled syringes, various
prefilled syringe products have gained an unrivalled position as the most
preferred or attractive container of choice for delivering injectable medical
products in the market and have evolved to become the gold-standard for safer
and easier self-administration of medications, especially the highly viscous
biopharmaceuticals. These immediate packaging containers incorporated with
proprietary traits capable of improving administration of a therapy, clinical
outcomes and even regulatory claims have currently evolved to become a
status-quo product among the pharmaceutical companies that help the firms to
further create, sustain or enhance their revenue streams during the mature
years of their pharmaceutical products lifecycle.
According
to IQ4I estimations, the prefilled syringes global market is expected to reach
$10,273.8 million by 2028, growing at a high single digit CAGR from 2021 to
2028. Factors like increasing popularity of extremely handy, safer, convenient
and dose-accurate prefilled syringes among patients and healthcare
professionals, increasing predisposition of pharmaceutical companies towards
prefilled syringes for cost-savings and brand differentiation, preferential
adoption of prefilled syringes for the delivery of various highly viscous and
sensitive biopharmaceuticals, emergence of technologically advanced prefillable
syringe products, persistently escalating prevalence of chronic and infectious
diseases and allergies, increasing number of prefilled syringes being approved
by regulatory authorities across the globe and the trend of collaboration and
investments among the prefillable syringe manufacturers are propelling the prefilled syringe market growth.
Technical challenges associated with the sophisticated manufacturing process of
prefillable syringes, increasing concerns about the interaction of prefillable
syringe components with the pharmaceutical products, availability of less
expensive and non-invasive alternatives, necessity to adhere to stringent
international standards and regulatory guidelines by prefillable syringe
manufacturers and threat of recalls of prefilled syringes are some of the
factors that are dampening the market growth.
The report
covers business intelligence information and analysis of various PFS market
segments based on the material,
design, closure system, product, application, molecule type, usability, route
of administration and geography.
Glass PFS segment held the largest share or revenue in 2021 and is expected to
grow at a high single digit CAGR while Polymer PFS segment is the fastest
emerging segment that is expected of growing at a double digit CAGR during the
forecasted period. Single chamber prefilled syringes segment fetched the
largest revenue in 2021 and is expected of growing at a high single digit CAGR
while Dual chamber PFS segment is the fastest emerging segment that is expected
of growing at a double digit CAGR from 2021 to 2028. The segments of Staked
Needle PFS, Large molecule PFS, Subcutaneous PFS and Disposable PFS accounted
for the largest revenue in 2021 and are also the fastest growing segments in
their respective categories and these are all expected of growing at a high
single digit CAGR during the forecasted period. Complete PFS Systems segment holds the largest revenue in
2021 and is expected to grow at a high single digit CAGR while Accessory
devices segment is the fastest emerging segment that is expected of growing at
a high single digit CAGR during the forecast period. The Heparin PFS
application segment accounted for the largest revenue in 2021 and is expected
to grow at a mid-single digit CAGR while Therapeutic Drugs PFS segment is the
fastest emerging segment that is expected of growing at a low teen CAGR from
2021 to 2028. Even though Europe
dominates the PFS market currently and is expected to grow at a mid-single
digit CAGR, Asia-Pacific region is the fastest emerging region that is expected
of growing a double digit CAGR during the forecasted period.
Technological
advancements have aided in the transformation of prefilled syringes from being
an off-the-shelf commodity device to a highly customizable product incorporated
with value-enhancing human factor engineering features. The steadily growing
space of PFS market is substantiated by the ever expanding patent portfolio of
PFS product companies, the huge number of clinical trials for therapeutic drugs
PFS and vaccine PFS and the constantly increasing sales volume or number of units
of PFS and heparin PFS across the various regions and countries of the globe,
especially in APAC region. U.S. and China spearheaded the sales volume analysis
of PFS units and heparin PFS units respectively.
The global
COVID-19 pandemic which has been a blessing in disguise for the PFS industry
has led to significant increase in revenue of most of the players in the market
owing to the increased utilization of various PFS products for enabling
need-of-the hour easier, safer and convenient self-administration or home-based
care and increased demand for saline flush syringes during the pandemic, has
triggered several research studies evaluating the feasibility of prefillable
syringes for packaging or encasing the high-in demand COVID-19 vaccine with
very low temperature storage requisites and for facilitating safer, efficient
and quicker mass immunization programs and also led to the launch of advanced
connected PFS products to further support efficient home-based care.
The report also exemplifies and highlights the various
organic and inorganic market perpetuation strategies of leading players in the
market.
Some of the prominent players in the fragmented
PFS global market are Becton,
Dickinson And Company (U.S.), Gerresheimer AG (Germany), Schott AG (Germany),
Nipro Corporation (Japan), Terumo Corporation (Japan), Stevanato Group S.p.A
(Italy), Shandong Weigao Group Medical Polymer Company Limited (China), Owen
Mumford LTD (U.K.), Elcam Medical (Israel), Ypsomed Holdings AG (Switzerland) and others.
Contact:
Mr. Satish Birudukota
AVP, Head, Market Research
Phone : +918147030229
Email : bd@iq4i.com