Polymer-Based Prefilled Syringe Market: Current Analysis and Forecast (2024-2032)

A polymer-based prefilled syringe is a type of medical device that is manufactured utilizing polymers rather than glass. They can be either disposable or reusable and are available in pre-filled formats containing the desired dosage for efficiency in medication delivery. These are commonly employed in delivering vaccines, biologics, and other injectable solutions to patients. Further to this, the increase in the prevalence of chronic diseases calls for specific medications that cannot at times be found in regular dosage forms.

The Polymer-Based Prefilled Syringe Market is expected to grow at a significant rate of around 4.9% during the forecast period (2024-2032). The population is ageing globally and with this comes the increased incidence of chronic conditions that need medications frequently. Prefilled syringes offer convenience and ease of use for self-administration or by caregivers, driving their adoption. As per the United Nations World Population Ageing 2023 report, there are now over 10 million older people in the nation, placing a significant financial strain on the social security and healthcare systems. Even though the proportion of older people was just 4.9% in 2023.

Based on the polymer type, the market has been segmented into cyclic olefin polymer (COP), cyclic olefin copolymer (COC), polypropylene, and others. Cyclic olefin copolymer (COC) is expected to grow with a significant CAGR in the forecast period (2024-2032). Due to its properties such as light transmission, chemical resistance, compatibility, and moldability, COC is highly suitable to be used in prefilled polymer-based syringes. Their implementation fosters market expansion in the healthcare industry by increasing the safety of medications, contributing to an elevated level of patient satisfaction, and spurring advances in drug delivery technology.

Based on the application, the market is segmented into vaccines, monoclonal antibodies, insulin, and others. The vaccines segment dominated the market in 2023. The growing global demand for vaccines to prevent infectious diseases is driven by factors such as expanding immunization programs, rising awareness of the importance of vaccination, and efforts to combat outbreaks and epidemics. For instance, on 9 November 2022, approximately 16 billion vaccine doses, worth USD 141 billion, were supplied in 2021, almost three times the 2019 market volume (5.8 billion) and nearly three-and-a-half times the 2019 market value (USD 38 billion). This increased demand for vaccines translates to a higher demand for prefilled syringes as the preferred delivery method.

Based on end-user, the market is segmented into hospitals, clinics, ambulatory surgical centers, and others. The clinics segment is expected to grow with a significant CAGR in the forecast period (2024-2032). This is mainly because clinics are the first contact that a patient has with the healthcare system when they seek care for routine or routine immunization, injections, or any other medical procedures. Furthermore, clinics are known to have limited budgets and are expected to address the issue of inflated costs of healthcare delivery while maintaining exacting standards in their services.

For a better understanding of the market adoption of Polymer-Based Prefilled Syringe, the market is analyzed based on its worldwide presence in countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, France, U.K., Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. Asia-Pacific is expected to grow with a significant CAGR in the forecast period (2024-2032) because of the rising incidences of chronic diseases including diabetes, infectious diseases, and cancer in the Asia-Pacific countries. According to the OECD 2022, 227 million people have type 2 diabetes in the Asia-Pacific region, among them 50% remain untreated and ignorant about having long-term complications. In addition, the awareness of health among the people in the region has grown, and so has the health care expenditure which has inclined the demand for sophisticated medical devices such as prefilled syringes.

Some of the major players operating in the market include BD, Gerresheimer AG, The SCHOTT Group, Nipro Corporation, West Pharmaceutical Services, Inc., Baxter, Terumo Corporation, Stevanato Group, Schreiner Group, AptarGroup, Inc.