Safety Prefilled Syringe Market To Surpass USD 6,534 Million By 2030 At A CAGR Of 7.1%
Acumen Research and Consulting
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Global?Acumen research and consulting, the global?Safety Prefilled Syringe Market?Size to grow at CAGR 7.1%, market value to reach USD 6,534 million by 2030.
Pre-filled syringes come filled with any substance to be injected into target patient. It is single dose of a drug specified by manufacturers. They are being used in a variety of therapeutics sector outside traditional domain of the vaccines and anticoagulants. Advantages of the prefilled syringe is minimization of drug waste, together with longer product shelf life and higher market share. Pre-filled syringe is convenient, and helps simplify the administration processes because its pre-measured dose can reduce the dosing errors and the increases the patient compliance. In addition, prefilled syringe is highly accurate, and the single-use prefilled syringe does not require any preservatives.?
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Dynamics of Safety Prefilled Syringe Market
The growing population of target diseases and the rapid growth of generic drugs are driving growth of the market. Increasing adoption of the self-medication, digitalization, advances in technology including cost effectiveness, as well as the increased efficiency of pre-filled syringes are driving market growth. In addition, the rising healthcare infrastructure in emerging markets, the rise of biosimilars and biologics in the biopharmaceutical industry, and the increasing adaptation of the wearables drug delivery technology is likely to create new opportunities during the forecast timeframe between 2020 and 2027.
Alternatively, the shortage of prefilled syringe with built-in safety feature is a factor which is expected to restrain market growth to some extent during forecast timeframe between 2020 and 2027. By design, the single chamber prefilled syringe segment has potential share of the prefilled syringe market. Single-chamber pre-filled syringes protect patients and physicians from needlestick injuries, likely to increase the segment's market value. The ease of use and storage of single chamber syringes continue to drive demand within the market.
By material, pre-filled glass syringes are the most popular because of their excellent properties, such as preventing the interaction of water and oxygen vapor with drug compounds, represents the highest conversion percentage (%). In addition, the glass is quite compatible with various filling machine and drug. Additionally, the sensitivity and higher maintenance costs associated with glass prefilled syringes are giving way to plastic prefilled syringe on the market. In fact, the Plastic Prefilled Syringes segment is projected to witness fastest growth during the forecast period of 2020-2027. Benefits associated with plastic-like rupture strength and flexibility compared to growth of the glass substrate segment over the forecast period.
Safety Prefilled Syringe Regional Market Analysis
Asia Pacific, in 2019, is projected to register the highest growth during the forecast period of 2020 to 2027. Major economies in the region, including Japan, China and India, are the main contributors. It is estimated that the region will experience significant technological advancements during forecast time period between 2020 and 2027. Presence of large number of diabetic patients, as well as the increase in people's disposable income, support the increase in the purchasing power of residents in health design. drives the growth of the regional market.?
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Prefilled Syringes Market?size to grow at?CAGR 9.9%, market value to reach?USD 11.6 Billion?by 2027.
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