Prefilled Syringes Market Size, Share, Growth Analysis, By Type, By Design, By Material, By Application, By Region - Industry Forecast 2024-2031

Global Prefilled Syringes Market size was valued at USD 6.8 billion in 2022 and is poised to grow from USD 7.52 billion in 2023 to USD 16.84 billion by 2031, growing at a CAGR of 10.60% during the forecast period (2024-2031).

The growth of the prefilled syringes market is primarily driven by increasing demand for efficient and user-friendly drug delivery systems, coupled with efforts by healthcare professionals to reduce hospital errors. Factors contributing to this market expansion include the rise in home healthcare services, the growing use of injectable medications, the higher prevalence of chronic diseases, and the benefits of prefilled syringes compared to traditional vials. Technological advancements in prefilled syringes also play a crucial role in supporting market growth. However, the market faces challenges such as the availability of alternative medicine delivery methods, stringent government regulations, and product recalls, which may hinder its expansion. Conversely, the development of biologics and biosimilars, along with the increasing demand for injectable medications in prefilled formats, offer promising opportunities for future growth in the industry.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Prefilled Syringes market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Prefilled Syringes Market Segmental Analysis

Global Prefilled Syringes Market is segmented by Type, Design, Material, Application, and region. Based on Type, the market is segmented into Conventional Prefilled Syringes, and Safety Prefilled Syringes. Based on Design, the market is segmented into Single-chamber Prefilled Syringes, Dual-chamber Prefilled Syringes, and Customized Prefilled Syringes. Based on Material, the market is segmented into Glass Prefilled Syringes, and Plastic Prefilled Syringes. Based on Application, the market is segmented into Diabetes, Rheumatoid Arthritis, Anaphylaxis, Cancer, Thrombosis, Ophthalmology, and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.

Drivers of the Global Prefilled Syringes Market

Prefilled syringes are commonly utilized for managing chronic conditions, enabling patients to self-administer their medications for diseases such as diabetes, heart disorders, and autoimmune conditions. The growing global prevalence of these chronic and life-threatening diseases is driving an expansion in the prefilled syringes market. Additionally, the increasing demand for self-injection devices is fueled by their convenience and safety, further contributing to the market's growth.

Restraints in the Global Prefilled Syringes Market

Global growth in the prefilled syringes market faces significant challenges, including product recalls, potential reactions between drugs and syringe components, and other related issues. A notable example occurred, when Novartis Pharmaceuticals UK recalled a batch of Lucentis 10 mg/ml injection solution due to a defect in the plunger stopper. This recall resulted in an uptick in customer complaints regarding difficulties in operating the plunger.

Market Trends of the Global Prefilled Syringes Market

Biologics and biosimilars are increasingly taking the place of chemical-based drugs in the global life science market. These biologics are favored for their targeted delivery capabilities and lower risk of drug interactions, leading to a growing preference for their use. Consequently, pharmaceutical and packaging manufacturers face pressure to innovate and develop advanced container closure and drug delivery systems. This shift has significantly boosted the adoption of prefilled syringes designed for the safe administration of biologics and biosimilars. For example, the Central Drugs Standard Control Organization (CDSCO) in India has approved 98 biosimilars to date, reflecting the expanding use and acceptance of these advanced treatments.