(PharmaNewsWire.Com, December 18, 2017 ) According to the report North America Prefilled Syringes Market, published by Market Data Forecast, the market is projected to reach USD 1.8 billion by 2021, at a CAGR of 5.6% from 2016 to 2021.
A common way for infectious diseases to spread is through the direct transfer of bacteria, viruses or other germs from one person to another. This can occur when an individual with the bacterium or virus touches, kisses, or coughs or sneezes on someone who isn't infected. This happens a lot when someone reuses syringes or does not use sterilized syringes.
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.
The growth of the market is attributed to major factors like ready acceptance of these syringes, favourable reimbursement policies, improved safety mechanisms for syringes and government initiatives and new legislations to incorporate the practice of Prefilled Syringes. On the other hand, accessibility to other drug delivery methods, expensive nature of Prefilled Syringes, lack of awareness and ignorance in low income regions, lack of awareness regarding healthcare and safety issues are the factors hindering the growth of market.
North America is expected to show rapid growth rates for long periods because these syringes have been readily adopted in this region. Based on Type, Safety syringes occupy the major share in the market due to increasing incidences of needle stick injuries and based on materials glass syringes hold the major share in the market.
Prefilled Syringes Market: Region-wise Outlook
Based on Geography this market is segmented into two regions namely United States of America and Canada. United States holds the major share in the market owing to its sophisticated healthcare infrastructure and increasing adoption rate. Canada is expected to grow rapidly owing to its rapid adoption rate and increasing consumer awareness.
Key Questions Answered
What is the current and future Prefilled Syringes Market outlook in North America? What trends are affecting the market?
What is the competitive landscape and market share of major players in the Prefilled Syringes Market space in North America?
What are the key, high growth markets that Prefilled Syringes Market manufacturers should expand into? Which market segments are growing the fastest?
What are the unmet needs with the Prefilled Syringes currently on the market? How will emerging technologies fulfil these unmet needs?
What is consumer perception and market outlook of Prefilled Syringes?
What are the challenges and barriers that have hindered widespread adoption of Prefilled Syringes?
Prefilled Syringes Market: Key Players
This market is extremely disjointed with numerous big and developing players operating in the business. The major companies dominating the global Prefilled Syringes market are Becton, Dickinson and Company (U.S.), Gerresheimer AG (Germany), SCHOTT AG (Germany), West Pharmaceutical Services, Inc. (U.S.), Ompi (Italy), Catalent, Inc. (U.S.), Weigao Group (China), Vetter Pharma International GmbH (Germany), Nipro Corporation (Japan), and MedPro Inc. (U.S.)
Reasons to buy Prefilled Syringes Market Report:
Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porters Five Forces Analyses
A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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