Global Polymer-based Prefilled Syringe Market accounted for US$ 6911.69 million in 2020 and is estimated to be US$ 32913.6 million by 2030 and is anticipated to register a CAGR of 10.40%. A polymer-based prefilled syringe has a consistent gliding force, excellent material strength and barrier properties, and a lower risk of drug degradation. Because it provides contamination-free and sterile products, this polymer-based prefilled syringe is a crucial component in the development of numerous medicines. This can help prevent the loss of medicine integrity, as well as the possibility of drug overfilling by clients. In the years ahead, these factors are expected to boost the global polymer-based prefilled syringe market’s expansion. A “prefilled syringe” is a syringe that contains a predetermined amount of a medicinal medication. These are new technologies that increase the precision, affordability, efficacy, convenience, sterility, safety, and accessibility of drug delivery. These characteristics make it more advantageous than traditional medication delivery methods, which used glass or metal vials to store pharmaceutical pharmaceuticals. The removal of the medicine from these vials increased the risk of contamination and dosing problems. As a result, prefilled syringes minimise the aforementioned limitations, increasing demand for them.
Analyst View & COVID impact on Polymer-Based Prefilled Syringe Market:
In the years ahead, the global polymer-based prefilled syringe market is expected to benefit from the increased demand for minimising errors and convenience in clinical medicine, as well as proper awareness of prescribed doses. With the introduction of more sensitive medications to the market, the demand for trustworthy and high-quality packaging is increasing. The polymer-based prefilled syringe comes to the rescue at this point because it is incredibly safe, reliable, and cost effective. This type of packing is incredibly dependable. It aids in the administration of the exact dose required and establishes a standard of quality. These prefilled syringes have a higher tolerance, are more flexible, and are less likely to break. Furthermore, they are available in a variety of unique and appealing styles. The global polymer-based prefilled syringe market is expected to increase significantly between 2020 and 2030, thanks to qualities such as good transparency and high resistance.
COVID-19 will reshape the pharmaceutical supply chain in medical emergencies by 2020. The coronavirus pandemic may have an impact on the safety and prefilled syringe markets, which are used to make medications for clinical use. Furthermore, the switch from conventional syringes to Prefilled Syringes, which reduces the danger of needle-stick injuries and infection, will improve coronavirus production. For example, on May 13, 2020, the US government struck a USD138 million deal with syringe manufacturers to expedite the production of 100 million prefilled syringes by 2020 and more than 500 million by 2021. As a result, prominent companies in the safety and prefilled syringe markets are capitalising on this trend and expanding their manufacturing capacities to avoid shortages.
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Key Highlights of Medical Gases and Equipment Market:
In 2022, Schreiner MediPharm, a global provider of functional label technology for the healthcare industry, has partnered with Plas-Tech Engineering, a business that specialises in prefillable polymer syringes, to develop and market a first-opening indication for prefilled syringes. In the fall of 2019, Schreiner MediPharm introduced the Cap-Lock cap adapter. It modified the gadget with a label-integrated inlay for automated supply-chain management and digital first-opening indicator less than a year later. The collaboration between Schreiner MediPharm and Plas-Tech Engineering, based in Lake Geneva, WI, streamlines cap adapter industrial manufacturing, offering pharmaceutical and medtech companies with a full-service solution for equipping luer-lock syringes with verifiable tamper evidence.
On May 13, 2020, the US government struck a USD138 million deal with syringe manufacturers to expedite the production of 100 million prefilled syringes by 2020 and more than 500 million by 2021. As a result, prominent companies in the safety and prefilled syringe markets are capitalising on this trend and expanding their manufacturing capacities to avoid shortages.
Key Market Insights from the report:
The Global Polymer-based Prefilled Syringe Market accounted for US$ 6911.69 million in 2020 and is estimated to be US$ 32913.6 million by 2030 and is anticipated to register a CAGR of 10.40%. The Global Polymer-based Prefilled Syringe Market report segments the market on the basis of type, application, and region.
COP (Cyclic Olefin Polymer), COC (Cyclic Olefin Copolymer) and Other
Antithrombotics, Vaccines, Biologics and Other
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Polymer- Based Prefilled Syringe Market:
The prominent players operating in the Global Polymer-based Prefilled Syringe Market includes Ajinomoto Bio-Pharma, Inc., Aptar Pharma (India) Pvt. Ltd., Baxter International Inc., Biocorp, Enable Injections, Inc., Nipro Corp., SHL Medical, Shandong Weigao Group, Stevanato Group and Unilife Corporation. Prominent players operating in the target market are focusing on the strategic partnerships as well as launching of the products in order to gain competitive edge in the target market.
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Global Polymer-based Prefilled Syringe Market, By Type:
COP (Cyclic Olefin Polymer)
COC (Cyclic Olefin Copolymer)
Global Polymer-based Prefilled Syringe Market, By Application:
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
Some Important Points Answered in this Market Report Are Given Below:
Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period
Global Small Molecule Prefilled Syringes Market, By Drug Class (Cardiovascular Drugs, Neurology Drugs, Analgesics, Adjuvants, and Others), By Material Type (Glass and Plastic & Polymer) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) – Trends, Analysis and Forecast till 2029
India Contract Manufacturing Outsourcing (CMO) of Sterile Injectable Drugs Market, By Service (API and Intermediates, and Finished Dose), By Molecule (Small Molecule and Large Molecule), By Drug Type (Monoclonal Antibodies, Insulin, Cytokines, Blood Factors, vaccines and Others), By Container Type (Bottles, Ampoules, Vials, Prefilled Syringes and Others), By Application (Cancer, diabetes, Cardiovascular Diseases, Infectious Disease, CNS and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Trends, Analysis, and Forecast till 2030
Market Dynamics, Regulations, and Trends Analysis
DR Impact Analysis
Porter’s Five Forces Analysis
Market Investment Feasibility Index
Macroeconomic Factor Analysis
Market Breakdown and Data Triangulation
Approach for estimating Market Share by Top-Down Analysis (Supply Side)
Approach for estimating market share by Bottom-up Analysis (Demand Side)
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