Plastic Pre-Filled Syringes Market Outlook
The Global Plastic Pre-Filled Syringes Market was estimated at USD 1,843.8 Mn in 2021 and is anticipated to reach USD 3,764.1 Mn by 2030, expanding at a CAGR of 8.8% during the forecast period.
Plastic is one of the widely used Polymer Types for making syringes, as it is durable, lightweight, and resistant to chemicals. Plastic pre-filled syringes are medical devices used to deliver precise dosages of medication to patients. It consists of a plastic barrel, plunger, and needle, all of which are pre-assembled and pre-sterilized.
The medication is filled into the syringe, eliminating the need for healthcare professionals to manually draw the medication from a vial or ampoule. Plastic pre-filled syringes are commonly used in a variety of medical settings, including hospitals and clinics, for efficient drug delivery.
Increasing Healthcare Expenditure
Healthcare expenditure refers to the amount of money spent on healthcare goods and services, such as medical treatments, hospitalizations, medical equipment, and other healthcare-related expenses. This includes both public and private spending on healthcare, such as expenditure by governments, insurance companies, and individuals.
High healthcare spending leads to high investment in new and innovative medical technologies, such as pre-filled syringes. The overall level of healthcare spending in a given region impacts the adoption of plastic pre-filled syringes.
The per capita income of the population is increasing significantly over time. The production and consumption of plastic pre-filled syringes is part of a country’s economic activity and are highly influenced by changes in GDP.
Growing GDP leads to an increase in the demand for healthcare products, including plastic pre-filled syringes, however, people have more disposable income to spend on medical treatments. Additionally, a higher level of GDP leads to an improvement in healthcare infrastructure and access to medical care, which contribute to the growth of the plastic prefilled syringes market.
Plastic Pre-Filled Syringes Market Dynamics
Chronic diseases are long-term health conditions that typically develop over a period of time and persist for extended periods. These are major public health concerns globally. According to National Health Council, generally incurable and ongoing chronic diseases affect approximately 133 million people in the US, representing more than 40% of the total population of this country.
For instance, in 2009, 7 out of 10 deaths in the US are attributed to chronic diseases. Heart disease, cancer, and stroke account for more than half of all deaths each year. The global plastic pre-filled syringes market is anticipated to expand at a considerable rate, due to the rising prevalence of chronic diseases globally and the growing demand for self-administered drugs.
Governments around the world are implementing policies and initiatives to ensure the uninterrupted availability of drugs in the public health system, along with the safety of the patients and a well-functioning health system. Initiatives taken by governmental bodies are aimed at improving healthcare infrastructure and increasing access to healthcare in developing countries, which is driving the market.
Pre-filled syringes provide high patient safety by reducing the potential for inadvertent needle sticks and exposure to toxic products that occur while drawing medication from vials. Prefilled syringes, with their pre-measured dosage, reduce dosing errors and increase patient compliance.
For instance, initiatives such as National Health Protection Scheme in India, aim to provide healthcare coverage for over 10 crore poor and vulnerable families, driving the demand for prefilled syringes. Furthermore, rising healthcare access in different locations is boosting the demand for necessary healthcare equipment, such as pre-filled syringes.
Limited Drug Compatibility
Pharmaceutical companies ensure patient safety by demonstrating that no component or Polymer Type has any extractable and leachable (E&L) and that the primary packaging does not have a negative or adverse interaction with the drugs. Some E&L have the potential to interact with therapeutic molecules and reduce a drug's efficacy. In ampoules, the drug is in contact with the glass. Moreover, the medication comes into contact with glass and rubber inside vials.
Pre-filled syringes come into contact with various Polymer Types and components in addition to the medicine, which increases the potential for interactions and E&L. Additionally, these syringes are made of a specific Polymer Type that is not compatible with certain drugs, leading to the degradation of the drug or the formation of particles that clog the needle or cause an adverse reaction.
Advancement in Technology of Drug Delivery Systems
Technology refers to innovations and inventions that are purposely designed to improve efficiency and effectiveness in various fields. In healthcare, drug delivery system technology has made remarkable progress in the past few years, transforming how medical professionals diagnose, treat, and manage the disease.
Over the years, significant technological advancements took place in plastic pre-filled syringes, making them increasingly popular for various purposes, including the delivery of vaccines and other injectable drugs. The development of high-quality, medical-grade plastics led to the production of syringes that are durable, reliable, and safe for use in healthcare settings. Pre-filled syringes provide a wide range of advantages that make them popular, including convenience, adaptability for home usage, and high dosage accuracy.
Scope of Plastic Pre-Filled Syringes Market Report
The report on the global Plastic Pre-Filled Syringes market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Plastic Pre-Filled Syringes Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
Product (Needle-free Pre-filled Syringe, and Needled Prefilled Syringe), Polymer Type (COP (Cyclic Olefin Polymer), COC (Cyclic Olefin Copolymer), and Polypropylene (PP)), Design (Single-chamber Prefilled Syringes, and Dual-chamber Prefilled Syringes), Application (Diabetes, Rheumatoid Arthritis, Anaphylaxis, Cancer, Thrombosis, Ophthalmology, and Others), End-user (Hospital, Clinics, Home Care, and Others)
Regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered
BD, Baxter International Inc., Gerresheimer Group, Fresenius SE & Co. KGaA., Nipro Corporation, SCHOTT AG, Taisei Kako Co., Ltd., Terumo Corporation, Plas-Tech Engineering, Inc., and West Pharmaceutical Services, Inc.
Plastic Pre-Filled Syringes Market Segmental Outlook
Based on product, the market is segmented into needle-free pre-filled syringe and needled prefilled syringe. The needle-free pre-filled syringe segment is expected to hold a considerable share of the market during the forecast, as it is a quick and efficient method of administration, and reduces the uneasiness of administering medicine.
On the basis of polymer type, the market is fragmented into cyclo olefin polymer (COP), cyclic olefin copolymer (COC), and polypropylene (PP). The COP (Cyclic Olefin Polymer) segment holds a key share of the market, as it is more clinically safe and cost-effective and offers better optical transparency & barrier properties than glass.
In terms of design, the market is classified into single-chamber pre-filled syringes and dual-chamber pre-filled syringes. The single-chamber pre-filled syringes segment is anticipated to expand at a significant CAGR during the forecast period. Single-chamber prefilled syringes are used to inject pre-filled vaccines, biological products, or pharmaceutical products, which is anticipated to drive the demand for single-chamber plastic pre-filled syringes segment.
In terms of application, the market is classified into diabetes, rheumatoid arthritis, anaphylaxis, cancer, thrombosis, ophthalmology, and others. The diabetes segment is anticipated to expand at a significant CAGR during the forecast period, owing to increasing cases of diabetes worldwide, that are treated with pre-filled syringes.
On the basis of end-user, the market is fragmented into hospitals, clinics, home care, and others. The hospital segment holds a key share of the market, due to the growing admissions of patients suffering from cardiovascular diseases, diabetes, and cancer in hospitals.
Plastic Pre-Filled Syringes Market Regional Outlook
Based on regions, the market is fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for a significant share of the market in 2021, due to the high demand for pre-filled syringes that are mostly used to treat diabetes. More than 37 million people in the US have diabetes, and 1 in 5 affected people are still unaware of it.
Key Benefits for Industry Participants & Stakeholders
- In-depth Analysis of the Global Plastic Pre-Filled Syringes Market
- Historical, Current, and Projected Market Size in Terms of Value
- Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
- Industry Drivers, Restraints, and Opportunities Covered in the Study
- Recent Industry Trends and Developments
- Competitive Landscape & Strategies of Key Players
- Neutral Perspective on Global Plastic Pre-Filled Syringes Market Performance
- Needle-Free Prefilled Syringe
- Needled Prefilled Syringe
By Polymer Type
- COP (Cyclic Olefin Polymer)
- COC (Cyclic Olefin Copolymer)
- Polypropylene (PP)
- Single-chamber Prefilled Syringes
- Dual-chamber Prefilled Syringes
- Rheumatoid Arthritis
- Home Care
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Key Market Players Profiled in the Report
- Manufacturers operating in the global Plastic Pre-Filled Syringes market are BD, Baxter International Inc., Gerresheimer Group, Fresenius SE & Co. KGaA., Nipro Corporation, SCHOTT AG, Taisei Kako Co., Ltd., Terumo Corporation, Plas-Tech Engineering, Inc., and West Pharmaceutical Services, Inc.
- Market players are pursuing strategies such as acquisitions, product launches, collaborations, and geographic expansion to leverage untapped opportunities in the global Plastic Pre-Filled Syringes market.