The global prefilled syringes market size is projected to reach USD 9.53 billion by 2026, exhibiting a CAGR of 10.4% during the forecast period. Rising incidence of cancer and other Non-Communicable Diseases (NCDs) is expected to be the primary factor fueling the prefilled syringe market growth. According to the World Health Organization (WHO), 9 million deaths are caused by cancer worldwide every year. In total, NCDs cause close to 41 million deaths, or 71% of the global deaths, annually, states the WHO. The National Cancer Institute estimates that in the US alone, 1,735,530 new cancer cases were reported in 2018; by 2030, this figure is anticipated to reach 23.6 million. Such widespread prevalence of cancer and other NCDs has generated the need for alternative solutions such as biological drugs. The administration of these drugs requires modern devices such as prefilled syringes, which is foreseen to augment the prefilled syringes market potential in the forthcoming years.
For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/industry-reports/prefilled-syringes-market-101946
Top Players Identified in the Prefilled Syringe Market Report:
- Gerresheimer AG
- AptarGroup, Inc.
- Helvoet Rubber & Plastic Technologies BV
- West Pharmaceutical Services Inc.
- SCHOTT AG
- Terumo Corporation
- Nipro PharmaPackaging International
- Other Prominent Players
Fortune Business Insights™ provides the above information in its new report, titled “Prefilled Syringes Market Size, Share & Industry Analysis, By Material (Glass and Plastic) By Closing System (Staked Needle System, Luer Cone System, and Luer Lock Form System) By Product (Complete Syringe Set and Components & Accessories) By Design (Double-chamber, Multiple-chamber, and Single-chamber) By End-user (Pharmaceutical & Biotechnology Companies, Contract Research & Manufacturing Organizations, and Others) and Regional Forecast, 2019-2026”. The report states that the value of this market stood at USD 4.31 billion in 2018 and also shares the following information:
- Detailed assessment of the drivers and factors influencing the market;
- In-depth analysis of the restraints holding back the development of the market;
- Careful research into the various market segments; and
- Comprehensive evaluation of the regional and competitive landscape of the market.
Rising Instances of Opportunistic Infections and Injuries at Hospitals to Boost the Market
Infections and injuries caused by needle sticks can be hazardous as they can cause serious damage to the body. According to the National Institute for Occupational Safety and Health (NIOSH), USA, a needle stick injury is one that is caused by sharp and pointed objects such as blood collection and hypodermic needles. Increasing workload of healthcare professionals at medical facilities such as hospitals has upped the threat of opportunistic injuries for these people, thereby expanding the prefilled syringes market size. For example, the US Centers for Disease Control and Prevention (CDC) numbered the injuries caused by sharp objects in US hospitals at 600,000. Thus, as patient care gets more complex and demanding, safety concerns regarding needle stick injuries are expected to gain prominence and lead the prefilled syringes market trends in the upcoming years.