Latest News - Prefilled Syringes Market: Glass pre-filled syringes are expected to lead the Material segment during 2024-2028

The Prefilled Syringes Market is being driven by Favorable regulations and guidelines

The Prefilled Syringes Market is expected to grow at a CAGR of 9.45% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 4045.9 million. The pharmaceutical sector is witnessing a significant shift from traditional small-molecule chemical drugs to advanced large-molecule biologics. This transition is driving innovation in the treatment of complex diseases, particularly in oncology and immunology. Consequently, numerous pharmaceutical companies are allocating substantial resources and research focus towards biologics development. In 2022, the FDA approved 37 novel drugs and 15 biologics, underscoring this trend. Pre-filled syringes, with their benefits including material and cost savings, accuracy, and ease of administration, have emerged as a preferred packaging and delivery solution for biologics. Notably, nine out of the top ten drugs in pre-filled syringes are biologics, catering to chronic conditions such as diabetes, multiple sclerosis, and rheumatoid arthritis. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Material
  • Glass pre-filled syringes
  • Plastic pre-filled syringes
• Type
  • Disposable
  • Reusable
• Application
  • Vaccines and immunizations
  • Anaphylaxis
  • Rheumatoid Arthritis
  • Diabetes
  • Autoimmune diseases
  • Oncology
  • Others
• Geography
  • North America
    • US
    • Canada
  • Europe
    • Germany
    • UK
  • Asia
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Favorable regulations and guidelines
• Shift from glass pre-filled syringes to plastic pre-filled syringes
• Surge in demand for vaccinations

However, the market also witnesses some limitations, which are as follows:

• Competition from alternative drug delivery systems
• Complexity of manufacturing process
• Device limitations and drawbacks

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Market Scope in Prefilled Syringes Market Research Report

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Research Analysis Overview

In the healthcare sector, prefilled syringes have gained significant attention due to their role in delivering various injectable medications, including saline syringes, insulin, mRNA COVID-19 vaccines, biosimilars, and biologics. The market for prefilled syringes is driven by the increasing prevalence of chronic diseases such as oncological disorders, cardiovascular disorders, and autoimmune disorders like rheumatoid arthritis. These conditions necessitate frequent self-injections, making the convenience and ease of use offered by prefilled syringes a preferred choice for both healthcare professionals and patients. The market for prefilled syringes encompasses a wide range of applications, from conventional vials to self-injection devices. The annual cost burden associated with these conditions necessitates the development of cost-effective solutions, making prefilled syringes an attractive option. Partner analysis and drug candidates in the pipeline further underscore the potential growth in this market. Assumptions regarding the target disease population and assumptions about the impact of needlestick legislations on the market add to the complexity of the prefilled syringes market analysis. The market for prefilled syringes is not limited to insulin and vaccines but also extends to heart diseases and other injectable medications.

Market Research Overview

The prefilled syringes market segment is a significant part of the global healthcare supplies industry, focusing on the development and production of advanced medical consumables. According to Technavio, market size is determined by the consolidated revenue generated by manufacturers of these essential supplies, including prefilled syringes. Factors fueling market expansion include the increasing aging population, with nearly one-quarter of the US population projected to be over 60 by 2050, and Europe reaching a similar demographic milestone by 2030. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Website: www.technavio.com/