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Prefilled Syringes Market Size, Growth & Share | Report [2028]
CachedLatest TrendsDriving FactorsRestraining FactorsSegmentationRegional InsightsKey Industry PlayersKey Industry DevelopmentsReport CoverageRequest a Free sampleto learn more about this report. Rising Demand for Biologics & Biosimilars to Aid Market Expansion The global life science industry is facing a drastic shift from chemical-based drugs to biologics and biosimilars. Biologics are excellent for targeted delivery and are less prone to drug-drug interaction, leading to increased inclination. The rise in biologics to treat chronic diseases has urged drug and packaging manufacturers to seek more sophisticated container closure and drug delivery systems. Therefore, this has led to a significant increase in prefillable syringes for safely delivering biologics and biosimilars. For instance, according to the Central Drugs Standard Control Organization (CDSCO), a total of 98 biosimilars have been approved in India to date. See full list on fortunebusinessinsights.com Growing Innovations in Prefilled Products for Biologic Drugs to Propel Market Growth The increasing demand for biological drugs and growing innovations in injectable delivery solutions are likely to drive the global market growth during the forecast period. Biological drugs have attracted the attention of leading players as they target diseases that had no or very limited treatment options available. For instance, in March 2019, W. L. Gore & Associates, Inc. launched GORE ImproJect Plunger for prefilled syringes, a solution for silicon-sensitive biologics. Additionally, the rising prevalence of cancer, autoimmune diseases, and other non-communicable diseases is likely to increase the demand for biological drugs. For instance, according to the National Cancer Institute, an estimated 1,806,590 new cancer cases were diagnosed in the U.S. in 2020. This number is expected to rise to 22.2 million by 2030, leading to an increase in demand for biologics in the U.S. Rising Adoption of Self-I... See full list on fortunebusinessinsights.com Complex Manufacturing Process and Product Recalls to Hamper Market Growth Prefilled syringes are becoming an increasingly attractive option for complex biotechnology products. However, various product recalls due to certain impurities or leakage in the syringes restrict market growth during the forecast period. For instance, in April 2020, BD announced a voluntary, consumer-level medical devicerecall of multiple lots of PosiFlush SF Saline Flush Syringe because of the holes in the packaging. See full list on fortunebusinessinsights.com By Material Analysis Rise in Technological Innovations to Drive Plastic Segment Growth Based on material, the global market is classified into glass and plastic. Among them, the glass segment held the largest prefilled syringes market share in the year 2020. Owing to the strong barrier property of the glass, it is a highly preferred material for manufacturing prefilled syringes. Also, it has the advantage of being highly compatible with several filling drug machines. However, certain drawbacks such as the reactio... By Closing System Analysis Luer Lock Form System to Exhibit Significant Growth Rate in Market Based on the closing system, the global market has been segmented into a staked needle system, Luer cone system, and Luer lock form system. Among them, the staked needle system segment captured a major share in the market owing to the speedy usage of the staked needle system. However, the rising incidence of needlestick injuries is likely to reduce the growth rate of the staked needle system segment in the coming years. Techno... By Product Analysis Complete Syringe Set to Hold Lion’s Share in Global Market Based on the product, the market has been segmented into a complete syringe set and components & accessories. Among them, the complete syringe set segment captured a major portion of the market share owing to the growing demand for these products for effective drug deliveryand rising demand for self-injectable delivery systems among patients. The components & accessories segment is expected to witness moderate growth in the market in... See full list on fortunebusinessinsights.com To get more information on the regional analysis of this market, Request a Free sample Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Among them, Europe dominated the global prefilled syringes market and accounted for USD 2.14 billion in 2020. The increasing number of patients using biologics as treatment options for chronic diseases and strong adoption of advanced delivery methods for self-injection of drugs are the major factors likely to boost the demand for prefillable syringes in Europe. In addition to that, the presence of key players engaged in developing prefillable syringes in Europe is likely to boost the market growth. For instance, in September 2019, Nemera announced the launch of a new Safe ‘n’ Sound pre-fillable safety device for administration of Hulio biosimilar in Europe. North America is likely to hold the second-largest market share after Europe owing to the rise in several chronic dis... See full list on fortunebusinessinsights.com Strong Product Offerings by Key Players to Propel Prefilled Syringes Market Growth BD, Gerresheimer AG, SCHOTT AG, and West Pharmaceutical Services Inc. are the leading players in this market with a strong brand presence combined with a wide range of product offerings. These players are likely to continue their dominance and generate significant revenue in the forthcoming years. Dominance is attributable to the robust research activities and continuous investments in innovative product development to launch a cost-effective and highly effective parenteral drug delivery system. Moreover, a strong focus on strategic partnerships with other key market players is likely to support expanding their footprints in the global market. For instance, in September 2019, Gerresheimer AG launched a Gx RTF ClearJect polymer needle syringe, 2.25 ml, to expand its range of prefillable polymer syringes. See full list on fortunebusinessinsights.com July 2021–Fresenius Kabi has added a fentanyl product to its line of prefilled syringes that are ready to use. Fresenius claims it to be the first of its kind on the American market, and it is inte...April 2021–The FDA has approved Genentech's Xolair (omalizumab) prefilled syringe for self-injection. Xolair is the first FDA-approved biologic for the treatment of moderate to severe persistent al...March 2021–Zealand Pharma announced that they are on track to launch their first product and open a commercial office in the U.S. The dasiglucagon auto-injector and pre-filled syringe, developed by...See full list on fortunebusinessinsights.com To get information on various segments, share your queries with us The global prefilled syringes market report provides detailed information regarding various insights into the market. Some of them are growth drivers, restraints, competitive landscape, regional analysis, and challenges. It further offers an analytical depiction of the market trends and estimations to illustrate the forthcoming investment opportunities. The market is quantitatively analyzed from 2017 to 2028 to provide the financial competency of the market. The information gathered in the report has been taken from several primary and secondary sources. See full list on fortunebusinessinsights.com
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