Prefilled syringes have become an efficient, convenient, and reliable method of drug and vaccine administration. Patients can now self-administer injectable drugs because of the availability of prefilled syringes. These syringes offer optimum dose precision, reduced drug waste, and increased lifespan of the product. Additionally, prefilled syringes offer greater patient safety by reducing the exposure to toxic materials that might happen while drawing medications from vials. These benefits will drive the prefilled syringes market from $1,914.1 million in 2020 to $3,646.7 million by 2030, at a CAGR of 6.8% during 2021–2030.
Patients with diabetes use the maximum number of prefilled syringes, for the administration of insulin. People suffering from other chronic diseases, such as cancer, cardiovascular disorders (CVDs), and respiratory diseases, are increasingly relying on prefilled syringes. The increasing incidence of inflammatory chronic diseases, according to the Autoimmunity Research Foundation, is an outcome of vitamin supplementation, misuse of antibiotics, prevailing environmental conditions which subdue immunity, and widespread adoption of mandatory mass vaccinations. Different types of customized prefilled syringes with varied drug compositions and doses are now available to treat these diseases.
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Thus, owing to the rising demand for biologics and biosimilars, growing expenditure on healthcare, increasing awareness about the technology of safe injectables, and presence of numerous medical device companies, European countries consumed the maximum number of prefilled syringes in the past. Moreover, P&S Intelligence reports that the Asia-Pacific (APAC) region is demonstrating a rapid surge in the application of these syringes. This can be attributed to the numerous technological advancements and growing demand for injectable drugs to treat lifestyle-associated and chronic diseases in India and China.
The players in the consolidated prefilled syringes market are taking strategic measures such as product approvals to gain an edge in the industry. For instance, Bristol-Myers Squibb Company received approval from the U.S. Food and Drug Administration (USFDA) for its supplemental Biologics License Application (sBLA) in June 2018 for the usage of low-dose Yervoy (ipilimumab) plus Opdivo (nivolumab) as the first-line treatment of advanced non-small cell lung cancer (NSCLC) in these patients with tumor mutational burden (TMB) >=10 mutations per megabase (mut/Mb).
The increase in the chronic disease incidence will, therefore, lead to a surging demand for drugs, while technological developments will result in the widescale application of prefilled syringes for their administration, especially by those living on their own or those who want more independence.
