The global market for prefilled syringes is projected to grow from US$ 6,698.94 million in 2022 to US$ 15,003.68 million by 2030, reflecting a compound annual growth rate (CAGR) of 15.8% during this period.
The expansion of the prefilled syringe market can be largely attributed to the rising incidence of chronic diseases and the increasing preference for self-injecting parenteral devices. Nevertheless, the market faces challenges due to a rise in product recalls, which may impede growth.
Growing Incidence of Chronic Diseases Driving Prefilled Syringe Development
The aging population, along with shifts in lifestyle and social behaviors, is contributing to a rise in chronic health conditions. According to the World Health Organization (WHO), the prevalence of chronic lifestyle-related diseases is anticipated to increase by 57% by 2026. Developing nations are expected to experience the most significant impact due to rapid population growth. Urbanization trends are leading to more sedentary lifestyles, which are linked to conditions such as rheumatoid arthritis and diabetes. Diabetes, in particular, is a major health concern globally. The International Diabetes Federation (IDF) reported that approximately 46 million individuals in North America had diabetes in 2019, with projections suggesting this number could rise to 62 million by 2045, marking a 35% increase during this timeframe.
Other chronic illnesses, including Crohn?s disease, multiple sclerosis, and cardiovascular diseases, necessitate regular medication administration for effective management. Cardiovascular diseases are notably the leading cause of mortality, with nearly 17.9 million deaths annually attributed to these conditions, as reported by WHO. Prefilled syringes have emerged as a preferred method for delivering injectable medications to large patient populations, as they can be utilized with minimal training and do not require continuous healthcare professional support. This ease of use has led to their widespread adoption in both professional healthcare settings and home care environments, thereby propelling the growth of the prefilled syringes market.
Segment Analysis of the Prefilled Syringe Market
The prefilled syringe market is categorized based on type, material, product type, application, distribution channel, and geographical region.
In terms of type, the market is divided into disposable and reusable prefilled syringes. The disposable prefilled syringes segment dominated the market in 2022 and is expected to exhibit a higher CAGR from 2022 to 2030. These syringes are designed for single use, minimizing the risk of contamination and infection. They are commonly employed in healthcare facilities for administering medications, vaccines, and other injectable treatments. Additionally, they are suitable for self-administration in home healthcare settings. Disposable prefilled syringes come in various forms, including insulin syringes, allergy syringes, and tuberculin syringes, available in different sizes. The rising use of prefilled autoinjectors has further increased the demand for disposable prefilled syringes, as they are typically sold as single doses. Furthermore, the growing incidence of allergies and infections, along with stringent safety regulations from health authorities worldwide, is anticipated to drive the market for disposable prefilled syringes.
Regarding distribution channels, the prefilled syringe market is segmented into hospital pharmacies, retail pharmacies, and online platforms. In 2022, hospital pharmacies accounted for the largest market share and are projected to grow at the fastest rate from 2022 to 2030. Hospital pharmacies play a crucial role in healthcare systems, serving as primary distribution centers for prescription medications. They ensure the safe and accurate storage, preparation, and dispensing of medications for patients receiving care in hospitals. Additionally, they provide clinical pharmacy services to enhance patient care, including medication management and education for both patients and healthcare providers. Hospital pharmacies are a common distribution channel for prefilled syringes, as patients can conveniently obtain prescribed medications in this format after their hospital visits.
Geographical Insights into the Prefilled Syringe Market
The global prefilled syringe market is further segmented by geography into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. North America is expected to maintain the largest market share from 2022 to 2030. The prefilled syringes market in North America includes the US, Canada, and Mexico, with growth driven by the increasing adoption of self-injecting parenteral devices and a rise in home healthcare solutions for chronic disease management in the region.
As reported by the Diabetes Research Institute, approximately 37.3 million individuals in the US had diabetes in 2022, representing 11.3% of the population. Of these, around 28.7 million were diagnosed, while approximately 8.6 million remained undiagnosed. Each year, about 1.4 million new diabetes cases are identified in the US. The Centers for Disease Control and Prevention (CDC) noted that in 2020, around 88 million adults had prediabetes, accounting for 34.5% of the adult population. Yale researchers estimated that in 2022, around 30 million people in the US had diabetes, with about 7 million requiring daily insulin injections.
Additionally, there is a growing demand for infertility treatments in the US. The CDC reported that in 2022, approximately 22% of married couples with women over 30 faced challenges in conceiving their first child. Various treatments available through prefilled syringes are addressing these infertility issues. For instance, in July 2023, Fresenius Kabi introduced Ganirelix Acetate Injection in 250 mcg/0.5 ml prefilled syringes, expanding their offerings in women's health. Thus, the rising prevalence of diabetes and other health conditions, along with an increase in product launches, is expected to drive the growth of the prefilled syringes market in the US.
Several key players in the market are implementing organic strategies to enhance their competitive edge. For example, • In April 2023, Delta Med Group formed a partnership with DBM, a leading prefilled syringe manufacturer, to expand their product portfolio and leverage complementary products and R&D capabilities, thereby enhancing customer service. This collaboration is expected to create significant synergies and accelerate growth for both entities.
• In October 2022, Hikma Pharmaceuticals PLC launched Succinylcholine Chloride Injection, USP, in prefilled syringe form in the US, marking the first FDA-approved PFS to enter the market.
Key sources referenced in the preparation of the Prefilled Syringe market report include the World Health Organization (WHO), International Diabetes Federation (IDF), National Institute of Health (NIH), Dubai Health Authority, National Library of Medicine (NLM), Health Research Policy and Systems (2020), American Cancer Society (2021), Globocan, and the Centers for Disease Control and Prevention (CDC).