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Prefilled Syringes Market is Expected to Grow at a CAGR of 10.1% by 2021

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Prefilled Syringes Market is Expected to Grow at a CAGR of 10.1% by 2021

December 08
15:39 2016
Emerging markets including China, India, South Africa, and the Middle East offer high growth potential for companies engaged in the development and distribution of prefilled syringes. Growing initiatives by market players, growing adoption of biosimilars/biologics, and the increasing prevalence of chronic diseases are the key factors propelling the growth of market in the emerging countries.

The report Prefilled Syringes Market by Material (Glass, Plastic), Type (Conventional, Safety), Design (Dual & Single-Chamber, Customized ), Region (North America (U.S.), Europe (Germany, UK, France), Asia-Pacific (Japan, India, China)) – Forecast to 2021″, analyzes and studies the major market drivers, restraints, opportunities, and challenges in North America, Europe, Asia-Pacific, and the Rest of the World (RoW).

This report studies the global prefilled syringes market over the forecast period of 2016 to 2021. The market is expected to reach USD 6.36 Billion by 2021, at CAGR of 10.1% from 2016 to 2021. Factors driving the growth of this market include technological advancements in prefilled syringes, high prevalence of chronic diseases, presence of a large patient population base, rising adoption of self-injection devices, and implementation of needlestick legislations. In addition, initiatives undertaken by leading market players (such as Gerresheimer AG, SCHOTT AG, and Becton, Dickinson and Company) to establish production facilities in both mature and developing markets have further added to the growth prospects of this market. However, lack of safety features in prefilled syringes and product recalls are expected to limit the growth of this market in the coming years.

On the basis of material, the global prefilled syringes market is divided into two broad segments, namely, glass prefilled syringes and plastic prefilled syringes. The glass prefilled syringes segment is expected to account for the largest share of the market in 2016. The growth of this segment can be attributed to the high use of glass in manufacturing syringes owing to its nonreactive nature and heat and chemical resistance.

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On the basis of type, the prefilled syringes market is segmented into conventional prefilled syringes and safety prefilled syringes. The conventional prefilled syringes segment is expected to account for the largest share during the forecast period. This growth can be primarily attributed to the comparatively low penetration of safety syringes.

On the basis of design, the prefilled syringes market is further segmented into single-chamber prefilled syringes, dual-chamber prefilled syringes, and customized prefilled syringes. The single-chamber prefilled syringes market is expected to command the largest share of the global prefilled syringes market in 2016. The increasing adoption of self-administered parenteral drugs is the key factor responsible for the growth of the single-chamber prefilled syringes market.

Europe is expected to hold the largest share of the global prefilled syringes market, followed by North America in 2016. However, the Asia-Pacific market is expected to grow at the highest CAGR from 2016 to 2021. Factors such as increasing demand for self-administered treatments, high penetration of self-injection devices, growing aging population, increasing prevalence of diabetes, and huge patient population are driving the growth of prefilled syringes in the Asia-Pacific region.

Becton, Dickinson and Company (U.S.), Gerresheimer (Germany), SCHOTT AG (Germany), West Pharmaceutical Services, Inc. (U.S.), Ompi (Italy), Catalent, Inc. (U.S.), Weigao Group (China), Vetter Pharma International GmbH (Germany), Nipro Corporation (Japan), and MedPro Inc. (U.S.) are some of the key players operating in the prefilled syringes market.

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