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Description
The global prefilled syringes market size was valued US$ 4781 million in 2020 and projected to reach US$ 7916 million by 2026 at CAGR 9%. Traditional prefilled syringes and safety prefilled syringes are the two primary types of prefilled syringes. Prefilled syringes often contain a single-dose package of vaccination with a needle pre-installed by the manufacturer. The needle is only used once, and the syringe is discarded after usage. Patients who require regular injections at home can use safety prefilled syringes to self-administer a single-dose package of vaccination. Single-chamber prefilled syringes, dual-chamber prefilled syringes, and customised prefilled syringes are among the syringes made of glass and plastic. In addition, the report includes new product introduction, regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed the market to better equip clients with possible investment opportunities across the regions (Regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Increasing adoption prefilled syringes format for parenteral drug administration, rising biologic product approvals, increased product availability in PFS format for home-based healthcare, and safety associated with prefilled syringes driving market revenue growth of the market over the forecast period. Moreover, inherited benefits such as dose accuracy, convenience in usage, sterility and advantages over conventional drug delivery are the factors driving the market revenue growth. Pharmaceutical and biopharmaceutical companies yet to exploit the full potential of prefilled syringes formats for drug administration and this non-adoption of PFS formats can be attributed to the availability of other alternative drug administration methods. In addition, lower penetration of PFS in developing economies hindering market revenues growth over the forecast period. Currently, the majority of PFS are designed to compatible with biologic drugs than non-biologic drugs.
