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According to a new report, published by KBV research, The Global Prefilled Syringes Market size is expected to reach $11.9 billion by 2028, rising at a market growth of 10.5% CAGR during the forecast period.
The Diabetes market is leading the Global Prefilled Syringes Market by Application in 2021; thereby, achieving a market value of $5.3 billion by 2028. It is because more people are using injectable devices, prefilled syringes are more advantageous, and chronic diseases are becoming more common. In order to strengthen their market position, big businesses like BD and others are manufacturing prefilled syringes that are only intended for the treatment of chronic diseases. For example, BD's Hypak SCF PRTC glass pre-fillable syringe is utilized to manage long-term illnesses.
The Plastic-based market is estimated to witness a CAGR of 12.1% during (2022 - 2028). The use of plastic prefilled syringes is anticipated to increase with the advent of cutting-edge materials like Crystal Clear Polymer (CCP) and Polypropylene, that are neutral to the majority of medications. These syringes provide a few benefits, including improved patient safety, patient-specific customization, and convenience in transit.
The Large Molecules market acquired highest revenue in the Global Prefilled Syringes Market by Therapeutics in 2021; thereby, achieving a market value of $8.2 billion by 2028. This is attributed to an expansion in the usage of prefilled syringes, the utilization of injectable medications, and the expansion of the home healthcare industry. The shift in preference that is more oriented toward the use of large molecules biologics, is expected to have a significant impact on the demand for prefilled syringe large molecules.
The Dual-chamber market is poised to grow at a CAGR of 11.1% during (2022 - 2028). Unlike other syringes, dual-chamber syringes include two partitions chambers, of which one can contain a lyophilized drug product and the other its solvent, or all chambers can contain medicinal products meant for co-delivery. Dual-chamber syringes and conventional prefilled syringes have a number of distinctive characteristics.
The Europe market dominated the Global Prefilled Syringes Market by Region in 2021; thereby, achieving a market value of $4.0 billion by 2028. The North America market is experiencing a CAGR of 10.1% during (2022 - 2028). Additionally, The Asia Pacific market is exhibiting a CAGR of 11% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Abbott Laboratories, Bayer AG, Baxter International, Inc., Becton, Dickinson and Company, Gerresheimer AG, Medtronic PLC, Nipro Corporation, Terumo Corporation, Vetter Pharma, West Pharmaceutical Services, Inc.