Prefilled Syringes Market, by Type (Conventional Prefilled Syringes and Safety Prefilled Syringes), by Material Type (Glass and Plastic), by Design (Single-chamber, Dual-chamber, and Customized), by End User (Hospitals, Clinics, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030\
A prefilled syringe is a disposable syringe that is supplied with the substance to be injected. Prefilled syringes are recognized as a reliable, efficient, and convenient method for drug administration. Furthermore, the ease with which many types of injectable medications can be self-administered by the patients makes prefilled syringes a practical method of drug delivery. Prefilled syringes improve patient safety by lowering the risk of unintended needle stick injuries and harmful product exposure that can occur when drawing medication from vials. Prefilled syringes ensure particulate-free solution administration and accommodate quantities ranging from 0.25 to 5.0 ml. As a result, they are best suited to medications that are supplied via subcutaneous or intramuscular injection.
Market Dynamics
The increasing adoption of strategies such as investments by the key players to construct production facilities for prefilled syringes is expected to drive market growth over the forecast period. For instance, in July 2018, Terumo Corporation, one of the world's leading manufacturers of medical devices and supplies, announced that it would invest approximately 7 billion yen (US$ 50 million) to construct an additional production facility at the headquarters plant at Terumo Yamaguchi D&D Corporation, a Terumo Corporation subsidiary, for prefilled syringes.
Moreover, the increasing adoption of strategies such as product launch is expected to drive the market growth over the forecast period. For instance, in December 2018, Terumo Corporation, one of the world's leading manufacturers of medical devices and supplies, announced that Hulio, a biosimilar of Humira, which uses the company's PLAJEX pre-fillable syringe, has launched in Europe. FUJIFILM KYOWA KIRIN BIOLOGICS Co., Ltd., a company engaged in the development and manufacturing of biosimilars, and Terumo Corporation jointly designed the formulation of Hulio. Terumo Yamaguchi D&D Corporation, a wholly-owned subsidiary of Terumo Corporation, would carry the manufacturing on contract, and Mylan N.V., a subsidiary of Viatris Inc., an American global healthcare company, will commercialize the product in Europe.
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