Latest industry research report on: Global Prefilled Syringes Market 2016: Industry Research, Size, Shares, Key Trends, Demand, Growth to 2022
A “prefilled syringe” is a packet of vaccines which have a single and fixed quantity of dosage. Prefilled syringes are novel devices used for delivering drugs with improved efficacy, convenience, accuracy, affordability, sterility, safety and accessibility. These features make it more advantageous than traditional methods of drug delivery. Previously, glass or metal syringes were used. This involved keeping the drug-especially vaccines- in a vial, making it contagious or prone to contamination and increasing the possibility of dosing errors.
Prefilled syringes eliminate the drawbacks mentioned above, which leads to an increase in their demand. The goal of this report is to offer thorough analysis of the segments related to the prefilled syringes market and a comprehensive analysis of the global market. The report also focuses on the current market size and potential growth of the prefilled syringes market in the future.
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Prefilled syringes are gaining acceptance in the market as drug delivery systems designed for injectable drugs. They are generally preferred for parenteral administration of various drugs and are used mainly for the treatment of chronic diseases where patients have to administer medication themselves, several times a week. The key drivers for the growth of this market are rising incidences of chronic diseases that require frequent drug administration, growing home-based healthcare market, increasing adoption of injectable drugs, benefits over syringe packaging systems and growing demand for point-of-care drug administration.
The major restraints for this market are the presence of alternative drug delivery means, the cost associated with the manufacturing of prefilled syringes, storage problem for these syringes and stringent regulations set by government authorities. Prefilled syringes offer several advantages over conventional vials to healthcare providers, drug manufacturers and patients such as accurate dosing, simple operation and lower risk of contamination. Moreover, technological advancement, new innovations and meeting the unmet demand for these syringes are the key opportunities for the foreseeable future of the prefilled syringes market.
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Prefilled Syringes Market Analysis by Types
On the basis of types, the global prefilled syringes market is segmented into glass-based prefilled syringes and plastic-based prefilled syringes. Glass-based prefilled syringes accounted for the largest share (about 90% in 2012) in terms of both volume and revenue. This is due to glass being the preferred material owing to properties such as robustness, transparency, tolerability, strength, chemical inertness and its non-reactive nature. However, plastic-based prefilled syringes are expected to grow at a faster CAGR during the forecast period 2013-2020 due to the recent development of polymer technology based plastics used to manufacture prefilled syringes.
Prefilled Syringes Market Analysis by Application
The prefilled syringes market can be segmented on the basis of applications into insulin, MAbs, Erythropoietin, G-CSF agents, interferon, vaccines and others. Vaccines and insulin hold the highest market share in the prefilled syringes market due to rising incidences of chronic diseases such as diabetes, which requires insulin administration on a daily basis.
Prefilled Syringes Market Analysis by Geography
The key geographical areas analyzed in the report are North America, Europe, Asia pacific and LAMEA. Europe holds the largest market share in the prefilled syringes market due to the high rate of adoption in this region. The North American market is also forecast to grow at a high CAGR due to prefilled syringes being the most preferred devices for drug delivery and the rising demand from the patients who need home-based healthcare treatment.
The key companies profiled in this report are Becton, Dickinson & Company, Baxter International, Inc., Bespak, Nipro Corporation, Gerresheimer AG, Schott AG, Unilife Corporation, Stevanato Group, West Pharmaceutical Services, Inc., Vetter Pharma International GmbH and others. Technological advancement is the key strategy adopted by drug developers and drug packaging manufacturers.
High level analysis
The analysis provides an outline of the prefilled syringes market, its opportunities, drivers and key concerns. The different forces that are responsible for the prevailing market trends are explored using Porter’s Five Forces tool. According to Porter’s Five Forces analysis, the bargaining power of the supplier is high as products are highly differentiated. High switching cost leads to the low bargaining power of buyers. Threat of new entrants is low due to the stringent government polices and cost of manufacturing prefilled syringes.
The market is segmented into types, applications and regions as follows:
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