The latest market report published by Credence Research, Inc. “Prefilled Syringes Market – Growth, Future Prospects, Competitive Analysis, 2017 – 2025,” the global prefilled syringes market was valued at US$ 8,631.3 Mn in 2016, and is expected to reach US$ 21,563.81 Mn by 2025 expanding at a CAGR of 9.98 % from 2017 to 2025.
Browse the full report Prefilled Syringes Market – Growth, Future Prospects, Competitive Analysis, 2017 – 2025 at http://www.credenceresearch.com/report/prefilled-syringes-market
Syringes were conventionally manufactured in bulk and consisted of several steps such as siliconization, washing and sterilization. Of late, the manufacturers are providing ready to fill pre-sterilized syringes, to save time and money bypassing the multiple steps involved during manufacturing operations.
Disposable prefilled syringes reduce the risk of infection due to needle-stick injury. Reusable prefilled syringes owing to its advantages such as easy dismantling and sterility, graduated cylinders to adjust IV bolus injection and autoclavable.
Glass prefilled syringes are used by healthcare professionals for the inherent feature of excellent chemical and thermal resistance. Due to features such as reduced surface reactivity, and decreased drug adsorption, plastic prefilled syringes are gaining importance in the market.
Diabetes dominated the applications segment of prefilled syringes on the account of rising disease prevalence and increasing demand for ready to administer dosages. Anaphylaxis will register good growth due to the use of prefilled syringes in emergency conditions arisen on account of anaphylactic shock reaction, and phenomenal growth in target patient population along with favorable government initiatives in developed markets.
The consolidated market hold of North America is attributed to drivers such as increasing chronic ailments among the U.S. citizens and enormous research activities being conducted to improve the safety in needle-stick injury cases. For the duration 2015-2025 Asia Pacific will contribute steadfast growth in the global prefilled syringes market due to supportive regulatory environment provided for prefilled syringes and competitive market present due to domestic and foreign players, paired with phenomenal increase in diabetic patients in the region.
The important players in prefilled syringes market are Nipro Medical Corporation, Bayer Healthcare, Vetter Pharma International GmbH, Biocon, Becton, Dickinson & Company, Gerresheimer AG, Haselmeier AG, Nipro Medical Corporation, Owen Mumford, SCHOTT and Unilife Corporation.
Key Market Movements:
- Rising prevalence of chronic ailments and increasing health awareness regarding needle stick injury
- Implementation and execution of Needlestick Safety and Prevention Act to protect healthcare professionals globally
- Increasing demand from homecare settings, and burgeoning requirement from pharmaceutical companies to formulate lyophilsed drugs in prefilled syringes