Rising demand for biologics and
self-injection products to augment market growth
A large number of newly approved biologics and
drugs demand for PFS delivery devices for the subcutaneous (SC)
self-injection of biopharmaceuticals. Also, the need for simpler
self-injection procedures and improved patient compliance for auto
injectors, large-volume patch injectors and pens is on the rise. This
in turn is expected to favor growth of the prefilled syringes market
over the forecast period (2016–2024). Patient exposure towards the
routine injection can affect patient compliance, as it can cause
significant discomfort to the user. Introduction of large volume
biologics though, have helped rise in adoption rate of prefilled
syringes. This in turn is expected to favor the market over the
forecast period. Some factors such as growth in adoption of
injectable drugs, success and growth of biologics, increased global
vaccination, increased drug self-administration trend, technological
advancements in the manufacture of PFS, and development of advanced
PFS would further augment market growth.
Rise in number of applications is to favor
the expansion of global prefilled syringes market:
Prefilled syringes market is expanding rapidly
globally due to its various applications in overall healthcare
sector. Nowadays, PFS manufacturing companies are focused on
promoting use of the product in various application especially in
homecare settings, which further is projected to favor increase in
customer base in various regions. Furthermore, manufacturers are
working towards developing PFS vaccines to help in indications such
as various infectious disease and cancer. PFS are also being
efficiently used in emergency medical services and in emergency
section of hospitals. According to Frederick Furness Publishing Ltd,
around 70% of atropine syringes prepared by the hospital staff are
pre-filled and can be immediately used in emergency conditions.
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Highly consolidated market is expected to
favor the sales revenue of prefilled syringes market:
There are around 20 pharmaceutical companies that
are involved in manufacturing and marketing of prefilled syringes as
preferred delivery device of around 50 injectable drugs and vaccines,
which contributes significantly to the sales revenue of these
players. Furthermore, there are few recent acquisitions by the big
brands in market of prefilled syringes such as in 2012, Becton
Dickinson and Company acquired Safety Syringes, Inc., which is
further expected to favor the company’s syringes manufacturing
efficiency and increase its product portfolio.
Parenteral
drugs are the second most preferred type of drugs after oral solid
dosage forms and also holds second largest market share in terms of
revenue in overall pharmaceutical market. Various benefits such as
ease in administration, better patient compliance and 100%
bioavailability are the few important factors that are expected to
favor growth of the prefilled syringes market over the forecast
period (2016–2024). Prefilled syringes segment is the one of the
most important of the parenteral products market. However, volume
sales in the market is rather low as it is a fairly novel product.
The market is expected to gain traction over the forecast period,
with increasing number of products and growing awareness among the
populace about the benefits of the product. There are various factors
such as ease in administration and minimum contact with the exposed
environment that are expected to favor growth of the prefilled
syringes market in the near future. Use of syringes with prefilled
drugs would be especially useful in emergency situations. According
to Drug Development & Delivery, around 3.5 billion of prefilled
syringes are produced each year and the existing numbers are expected
to grow by the rate of around 9.0 – 10% annually.
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Prefilled Syringes market taxonomy:
By Application
-
Monoclonal Antibodies
-
Vaccines
-
Others
By Material Type
-
Polymer
-
PVC
-
Cyclo-olefin Polymer(COP)
-
Glass
By Design
-
Single Chambered
-
Dual Chambered
-
Multi-Chambered
Key players operating
in the prefilled syringes market include Becton Dickinson & Co.,
Gerresheimer, Medtronic, Baxter International, SCHOTT AG, West
Pharmaceuticals, Vetter International, Unilife Corporation, Stevanato
Group, and Terumo Corporation
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