Prefilled Syringes Market Competitive Landscape, Changing Market Trends and Emerging Opportunities

Increasing demand for injectable pharmaceutical products, advanced applications of combination therapies for the management of diseases, rising prevalence of chronic and lifestyle associated diseases, benefits of prefilled syringes over traditional vial and syringe packaging systems, and technological advancements in syringes are the major factors driving the growth of the prefilled syringes market globally.

Prefilled syringe drug delivery systems are frequently used in the treatment of diabetes, rheumatoid arthritis, anaphylaxis, and other diseases, such as multiple sclerosis, anemia, and psoriasis. The application of prefilled syringes for diabetes is expected to lead the global market, advancing at a CAGR of 9.0% during the forecast period. Increasing prevalence of diabetes across the world is the key factor contributing in the growth of the prefilled syringes market. This is substantiated by the fact that, according to the World Health Organization (WHO), the prevalence of diabetes among adults over 18 years of age has risen from 4.7% in 1980 to 8.5% in 2014, globally.

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Moreover, China is expected to observe significant growth in the APAC prefilled syringes market, owing to the presence of large number of local players and growing geriatric population in the country. Moreover, various immunization programs implemented by the Chinese government is also contributing to the growth of market. For instance, the Chinese government implemented Polio Endgame Strategic Plan 2013–2018 to eliminate measles, and minimize hepatitis B cases in the country. Due to increasing immunization programs implemented by the government officials in China, there is a high demand for syringes in the country.

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In the same month, AbbVie Inc. also received USFDA approval for IMBRUVICA (ibrutinib) plus rituximab (RITUXAN) for the treatment of adult patients with Waldenström's macroglobulinemia (WM), a rare and incurable type of non-Hodgkin's lymphoma (NHL).

Some of the other key players operating in the prefilled syringes industry are Becton, Dickinson and Company, Eli Lilly and Company, Amgen Inc., Baxter International Inc., Bayer AG, Pfizer Inc., F. Hoffman-La Roche AG, and Novartis AG.