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Increasing demand for easy-to-use drug delivery devices & technological advancements in injectable drug delivery devices are key driving market revenue growth
VANCOUVER, BC, CANADA, April 1, 2022 /EINPresswire.com/ -- The Global Prefilled Syringes Market report presents a comprehensive analysis of the Prefilled Syringes market that offers valuable insights to the investors, stakeholders, and business strategists for the forecast period of 2020-2027. The Global Prefilled Syringes Market size is expected to reach USD 12.76 Billion in 2028 and register a significantly robust revenue CAGR over the forecast period, according to latest analysis by Emergen Research. Increasing demand for easy-to-use drug delivery devices and technological advancements in injectable drug delivery devices are expected to drive market revenue growth to a significant extent during the forecast period. Innovations in prefilled syringes are aiding in addressing ongoing safety concerns about needlestick injuries.
Usage of prefilled syringes for a wide range of therapeutic applications such as blood stimulants, vaccines, and therapeutic vaccines is boosting revenue growth of the market. Ease of usage and eliminating dosing errors are other major factors driving demand among various healthcare facilities. Prefilled syringe manufacturers are increasingly investing in order to develop more advanced prefilled syringes to meet rising demand across the healthcare industry. In 2018, SCHOTT introduced syriQ BioPure, which is a pre-fillable glass syringe for biologics designed to ensure ease administration and drug stability, as well as shorten time to market.
Key Companies Profiled in the Report are: SCHOTT AG, Becton, Dickinson, and Company, Gerresheimer AG, West Pharmaceutical Services, Inc., Medtronic plc, Catalent, Inc., Shandong Weigao Group, Nipro Corporation, Unilife Corporation, and Vetter Pharma International GmbH.
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Increasing adoption of wearable drug delivery technologies, rising prevalence of chronic diseases, and growing popularity of home-based treatment options across major therapeutic areas is supporting demand for wearable drug delivery technologies. Pen injectors and auto-injectors are increasingly being utilized for self-administered insulin injections and boosting demand for prefilled syringes.
Research Report on the Prefilled Syringes Market Addresses the Following Key Questions: Who are the dominant players of the Prefilled Syringes market? Which regional market is anticipated to have a high growth rate over the projected period? What consumer trends and demands are expected to influence the operations of the market players in the Prefilled Syringes market? What are the key growth drivers and restraining factors of the Prefilled Syringes market? What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market? What is the overall impact of the COVID-19 pandemic on the Prefilled Syringes market and its key segments? Market Overview:
The report bifurcates the Prefilled Syringes market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
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Some Key Highlights from the Report In May 2021, Becton, Dickinson, and Company announced that it is set to build a new plant in Zaragoza, Spain, in order to meet rising demand for prefilled syringes. The company invested USD 200 million in the new plant, where glass prefilled syringes and plastic components would be produced. Diabetes segment accounted for a relatively larger revenue share in the global prefilled syringes market in 2020. Increase in adoption of sedentary lifestyle is boosting the prevalence of diabetes and increasing the usage of prefilled syringes. Hospitals segment accounted for a significantly high revenue share in the global prefilled syringes market in 2020. Increasing expenditure by governments on healthcare facilities to improve patient safety and comfort is expected to increase adoption of prefilled syringes in hospitals. Europe accounted for largest revenue share contribution to the global prefilled syringes market in 2020. Growth of the pharmaceutical industry in the region is expected to drive steady demand for prefilled syringes.
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Emergen Research has segmented the global prefilled syringes market on the basis of type, material, application, distribution channel, and region: Type Outlook (Revenue, USD Billion; 2018–2028) Reusable Disposable
Material Outlook (Revenue, USD Billion; 2018–2028) Plastic Glass
Application Outlook (Revenue, USD Billion; 2018–2028) Diabetes Rheumatoid Arthritis Anaphylaxis Cancer Others
Distribution Channel Outlook (Revenue, USD Billion; 2018–2028) Ambulatory Surgery Centers Hospitals Mail Order Pharmacies Biotechnology & Pharmaceutical Companies Others
The various regions analyzed in the report include: North America (U.S., Canada) Europe (U.K., Italy, Germany, France, Rest of EU) Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC) Latin America (Chile, Brazil, Argentina, Rest of Latin America) Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Prefilled Syringes market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
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About Emergen Research At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.
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