(PharmaNewsWire.Com, October 10, 2017 ) The Asia-Pacific Prefilled Syringes Market was worth $0.58 billion in 2016 which accounts for a 16% share of the world market and it is estimated to grow at a CAGR of 7.95%, to reach $0.85 billion by 2021. A “prefilled syringe” is a syringe filled with a fixed quantity of a therapeutic drug.
It is more accurate, affordable, convenient, sterile, safe and accessible as compared to traditional drug delivery methods in which vials were used for storage of pharmaceutical drugs. These vials were prone to dosing errors and contamination while prefilled syringes have no such drawbacks This format of parenteral drug delivery system is being adopted by growing number of healthcare facilities.
Of all the regions studied in this report Asia-Pacific is expected to showcase highest growth rate in the aforementioned forecast period. The growth of the Asia-Pacific Prefilled Syringes Market is mainly driven by factors such as the steadily rising aging population, preference and a higher demand for self-administered injections and predominance of diabetes.
The Asia-Pacific Prefilled Syringes market is segmented into five broad categories: materials, type, design, application and distribution channel. Material is further sub-segmented into glass prefilled syringes and plastic prefilled syringes. By type the market is divided into conventional prefilled syringes and safety prefilled syringes. Design is further segmented into single-chamber, dual-chamber and customized prefilled syringes. Vaccines and monoclonal antibodies are major categories under application. On the basis of distribution channel, the prefilled syringes market is segmented into hospitals, ambulatory surgical centres, and mail order pharmacies.
The Asia-Pacific region is geographically segmented into China, India, Japan, South Korea, and Australia. Asia Pacific is one of the most revenue generating markets for the growth of prefilled syringes market. The main reason for the highest growth rate exhibited by Asia-Pacific in the forecast is that this market is at a nascent stage and is ripe for investment with a huge potential for growth. Japan accounts for the majority share both in terms of volume and revenue.
This market is extremely disjointed with numerous big and developing players operating in the business. The major companies dominating Prefilled Syringes market in this region are Agfa HealthCare, Medviso AB, Aquilab, Bruker Corporation, Carestream Health Inc, Esaote S.p.A, GE Healthcare, Spacelabs Healthcare, Merge Healthcare Inc, Xinapse Systems Ltd., MIM Software Inc, Philips Healthcare, Claron Technologies, Siemens Healthcare, and Toshiba Medical Systems Corporation. Market Segmentation : 1) Materials 2) Type 3) Design 4) Form
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