LONDON--(BUSINESS WIRE)--The global pre-filled syringes market size is expected to grow by USD 4.23 billion as per Technavio. This marks a significant market growth compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, the market is expected to decelerate at a CAGR of almost 13% during the forecast period. Request Free Sample Report on COVID-19 Impacts
Read the 120-page report with TOC on "Pre-filled Syringes Market Analysis Report by Material (glass pre-filled syringes and plastic pre-filled syringes) and Geography (Europe, North America, APAC, and ROW), and the Segment Forecasts, 2020-2024".
The market is driven by the increasing adoption of pre-filled syringes by pharmaceutical companies. In addition, the increasing number of biopharmaceuticals is anticipated to boost the growth of the Pre-filled Syringes Market.
The increasing adoption of pre-filled syringes by pharmaceutical companies will drive the pre-filled syringes market growth. More than 20 pharmaceutical companies have marketed over 50 injectable drugs and vaccines as pre-filled syringes. The majority of the biopharmaceuticals are already formulated in pre-filled syringes. These pre-filled syringes reduce product wastage by preventing dose overfill by 4%-5%. This is advantageous for biological drugs, as their manufacturing and production costs are quite high and have low bulk manufacturing capacity. Moreover, pre-filled syringes help lower the overall cost-per-dosage-unit as compared to conventional syringes and vials. They also help pharmaceutical companies in brand differentiation and product life cycle management. Hence, pharmaceutical companies prefer pre-filled syringes for their drug formulation.
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Major Five Pre-filled Syringes Companies:
Baxter International Inc.
Baxter International Inc. has business operations under geographic segments, including APAC, Americas, and EMEA. The company offers a wide range of pre-filled syringes such as sterile water injection and sodium chloride.
Becton, Dickinson and Co.
Becton, Dickinson and Co. operates its business through three segments: BD Medical, BD Life Sciences, and BD Interventional. The company offers BD PosiFlush, which is a pre-filled saline syringe which improves clinician efficiency and workflow.
Recipharm AB has business operations under three segments: manufacturing steriles and inhalation, manufacturing solid and others, and development and technology. The company offers Syrina Mini, a pre-filled syringe which facilitates automatic drug delivery.
Fresenius SE & Co. KGaA
Fresenius SE & Co. KGaA operates its business through various segments such as Fresenius Medical Care, Fresenius Kabi, Fresenius Helios, and Fresenius Vamed. The company offers Simplist, a ready-to-administer syringe developed with Luer-Lok connectivity and 24-month shelf life.
Medtronic Plc has business operations under four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group. The company offers a wide range of pre-filled syringes for normal saline.
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Pre-filled Syringes Market Material Outlook (Revenue, USD bn, 2020-2024)
- Glass pre-filled syringes - size and forecast 2019-2024
- Plastic pre-filled syringes - size and forecast 2019-2024
Pre-filled Syringes Market Regional Outlook (Revenue, USD bn, 2020-2024)
- Europe - size and forecast 2019-2024
- North America - size and forecast 2019-2024
- APAC - size and forecast 2019-2024
- ROW - size and forecast 2019-2024
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