Prefilled Syringes Market – Analysis and Forecast To 2024 | SCHOTT AG, Catalent, Inc., Ompi.

Prefilled syringe is a single use syringe filled with parenteral drug. It helps to exclude various numbers of procedures mandatory for administering a formulation. The global prefilled syringes market is growing at significant rate, due to mounting demand for biologics and biosimilars and emergent injectable drugs pipeline. Different types of syringes contributed to the market size. The market has witnessed high demand for conventional syringes over the last few years due to increasing adoption of self-administered injectable drug.

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The strict regulatory requirements, availability of cheaper alternatives and alternative drug delivery method are the major challenges for the growth of prefilled syringes market. Drug is delivered with various methods, such as orally, infusion, and injections. Oral delivery method is the most commonly used drug delivery alternative globally, as it is cost effective and easy to use for patients. Interaction of syringe plastic with the drugs and recall of products are the key factor hindering the global market growth.

Globally, the manufacturing companies trying to enter the prefilled syringes market are required to maintain stringent regulatory standards. Moreover, the high level of capital requirement also poses a major barrier for the entry of new players. This offers an edge to the established players in the industry competition.

Asia-Pacific is observed to witness fastest growth in the market, as the region comprises of growing demand for vaccine for the management of chronic diseases and mounting use of biologics and biosimilars. In addition, high penetration of self-administration devices, large population base and increasing demand for self-administered treatments are also creating a positive impact on the prefilled syringes market growth in the region.

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Key players in the prefilled syringes industry are catering the demand of these devices by investing on technologically advanced products in their product portfolio across the globe. According to Unilife Corporation, a company involved in the development, design and production of injectable drug delivery system, approximately 2 billion prefilled syringes are used each year globally. Becton, Dickinson and Company, Weigao Group, Gerresheimer AG, SCHOTT AG, Catalent, Inc., West Pharmaceutical Services, Inc., Ompi, Vetter Pharma International GmbH, Nipro Corporation, and MedPro Inc. are the key players offering prefilled syringes.

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