Within the injectable drug delivery devices, the segment of prefilled syringes is amongst the most swiftly developing segment owing to the a number of advantages linked with the utilization of prefilled syringes including low cross contamination risk, easy administration, ease of handling, and reduced overfilling.
- Increasing Use of Top-Quality Manufacturing Materials to Propel Market Growth: The point-of-care administration of drugs has raised the use of prefilled syringes globally. In addition, the utilization of top quality materials in the manufacturing of prefilled syringes is also a prime factor fuelling the growth of the market. Furthermore, the technological developments taking place in this market have resulted in new improved prefilled syringes, thus increasing their adoption globally.
- Increasing Inclination toward Self-Administration to Augment Market Development: The growing inclination toward self-administration and the swift growth in the market for biologics will also provide impetus to the global prefilled syringes market. At present, over 60% of the drugs that are under clinical advancement fall under biologics and are predicted to get sanctioned for parenteral administration. In the same way, the technical advancements related to needlestick prevention and safety will also augment the growth of this market in the coming years.
- North America to Outpace Europe in Global Prefilled Syringes Market: The market for prefilled syringes is dominant in regions such as that of North America, Europe, Asia Pacific, and Rest of the World (RoW). Of these, Europe held the largest share in the market in 2015. However, the region of North America trailed the European region in the same year and is predicted to outpace the region of Europe by taking the top position in the market in the coming years.
The reason for the dominance of the North America region is the growing demand for prefilled syringes in place of traditionally utilized products and the increasing proliferation of a number of players within this region. On the other hand, the Asia Pacific as well as the Rest of the World prefilled syringes markets are also poised to exhibit a high growth rate in forthcoming years.
Gerresheimer AG, Becton, Dickinson & Company, Schott AG and Stevanato Group, and Nipro Corporation, among others are the major players dominant in the global prefilled syringes market.