The global sales of polymer-based prefilled syringe is estimated to be worth USD 2.3 billion in 2024 and anticipated to reach a value of USD 3.7 billion by 2034. Sales revenue of polymer-based prefilled syringe industry is projected to rise at a CAGR of 5.2% over the forecast period between 2024 and 2034. The revenue generated by polymer-based prefilled syringe in 2023 was USD 2.1 billion. The industry is anticipated to exhibit a Y-o-Y growth of 9.5% in 2024.
The rising demand for biologics is a significant factor driving the growth of polymer-based prefilled syringes in the healthcare industry. Accurate and safe delivery of biologics is crucial for their efficacy and patient outcomes.
Biologics, unlike traditional small-molecule drugs are large and complex molecules that can be sensitive to external factors such as temperature, pH, and mechanical stress. The drugs must be administered with precision and care, to ensure their stability and effectiveness.
Polymer materials, such as cyclic olefin copolymer (COC) and cyclic olefin polymer (COP), used in prefilled syringes offer excellent compatibility with biologics. They have low protein adsorption and minimal interaction with the drug, reducing the risk of drug degradation and contamination during storage and administration.
Polymer-based materials are inert and do not release extractable substances that could interact with the biologic drug, which ensures that the drug's purity and efficacy remain intact throughout its shelf life. Compared to glass syringes, polymer-based prefilled syringes are less prone to breakage, which is essential when handling sensitive biologic drugs. The lower risk of breakage also contributes to reduced wastage and improved patient safety.
The polymer-based prefilled syringe industry is set to experience upward growth during the forecast period. It is projected to create an incremental opportunity of USD 1.4 billion and is predicted to rise 1.6 times the current market value through 2034.
Global Polymer-based Prefilled Syringe Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2023 | USD 2.1 billion |
| Estimated Size, 2024 | USD 2.3 billion |
| Projected Size, 2034 | USD 3.7 billion |
| Value-based CAGR (2024 to 2034) | 5.2% |
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Advancements in Polymer Technology
Advancements in polymer technology have revolutionized the design and manufacturing of prefilled syringes, leading to the development of high-performance syringe systems that offer numerous advantages in drug delivery and patient safety.
The innovations have significantly improved the compatibility, performance, and reliability of polymer-based prefilled syringes, making them a preferred choice for pharmaceutical manufacturers and healthcare providers.
Drug developers are introducing complex and sensitive biologics, vaccines, and other medications, with the continuous evolution of pharmaceutical formulations. The advanced drug formulations require specialized packaging solutions to maintain their stability and efficacy.
Polymer technology advancements have allowed for the creation of syringes with materials that are highly compatible with a wide range of drugs, including biologics, vaccines, monoclonal antibodies, and high-viscosity formulations. The syringes minimize the risk of drug interactions, degradation, or adsorption, ensuring that the drug remains intact and effective during storage and administration.
Advanced polymer technologies have also enabled the development of syringe materials with reduced levels of extractables and leachables. The advancements ensure that the drug's purity and stability are preserved, reducing the potential for adverse reactions or drug contamination.
Pharmaceutical manufacturers can confidently use polymer-based prefilled syringes, knowing that the syringe material will not compromise the drug's quality or safety.
Expansion of Biopharmaceutical Industry
The expansion of the biopharmaceutical industry is a major driver of the increasing demand for specialized and advanced prefilled syringes. The innovative therapies offer promising solutions for various chronic and life-threatening diseases, such as cancer, autoimmune disorders, and genetic disorders. The need for suitable delivery systems, like prefilled syringes, becomes critical, as more biopharmaceuticals enter clinical development and receive regulatory approval.
Biopharmaceuticals are often complex and sensitive drugs that require specialized handling and delivery systems. They may be susceptible to degradation, denaturation, or instability when exposed to certain conditions, such as light, oxygen, or temperature variations. Prefilled syringes made from advanced polymer materials are designed to provide excellent protection against these environmental factors, ensuring the stability and potency of biopharmaceuticals throughout their shelf life.
Biopharmaceuticals are manufactured using living cells or genetic material, making them more susceptible to contamination from external sources. Prefilled syringes with advanced polymer materials offer excellent barrier properties, minimizing the risk of microbial or particulate contamination during drug administration, which is especially crucial for biopharmaceuticals intended for chronic therapies, as contamination could lead to serious health risks for patients.
High Development and Manufacturing Costs Restricts Market
Polymers such as COP and COC are highly expensive which increases the overall manufacturing cost of prefilled syringes. Manufacturing of polymer-based prefilled syringes requires cutting-edge technology and higher precision which increases the capital expenditure and operational costs. The production of prefilled syringes involves advanced moulding techniques, stringent quality, and precise control of manufacturing conditions which increase the cost of production. Significant investment is required for specialized investment in equipment and technology for setting up the production facility for polymer-based prefilled syringes.
The global polymer-based prefilled syringe industry recorded a CAGR of 5.9% during the historical period between 2019 and 2023. The growth of polymer-based prefilled syringe industry was positive as it reached a value of USD 2.1 billion in 2023 from USD 1.6 billion in 2018.
The growing focus on self-administration of medications is a significant trend in the healthcare industry, driven by several factors, including the rising prevalence of chronic diseases and the increasing aging population. Patients with chronic conditions, such as diabetes, rheumatoid arthritis, multiple sclerosis, and certain autoimmune disorders, often require regular injections of medications to manage their conditions effectively.
In recent years, there has been a shift towards empowering patients to take control of their healthcare by enabling them to administer medications themselves. Self-administration offers numerous benefits to patients, including increased independence, reduced healthcare costs, and improved quality of life. Polymer-based prefilled syringes play a crucial role in facilitating self-injection at home due to their user-friendly design and features:
Polymer-based prefilled syringes are designed with clear and easy-to-read dosing scales, making it simple for patients to measure and administer the correct dosage of the medication. The feature is especially important for patients with visual impairments or limited dexterity, as it ensures accurate dosing and reduces the risk of dosing errors.
Many polymer-based prefilled syringes are engineered with ergonomic features, such as finger grips and smooth plunger movement, to enhance the ease of use. The design elements make the syringes comfortable to handle and enable patients to administer injections with minimal effort and discomfort.
Principal Consultant
| Particular | Value CAGR |
|---|---|
| H1 | 5.4% (2023-33) |
| H2 | 3.9% (2023-33) |
| H1 | 3.7% (2024-34) |
| H2 | 5.5% (2024-34) |
The above table presents the expected CAGR for the global polymer-based prefilled syringe market over several semi-annual periods spanning from 2024 to 2034. In the first half (H1) of the decade from 2023 to 2033, the business is predicted to record at a CAGR of 5.4%, followed by a slightly lower growth rate of 3.7% in the second half (H2) of the same decade.
Moving into the subsequent period, from H1 2024 to H2 2034, the CAGR is projected to decrease slightly to 3.7% in the first half and remain relatively high at 5.5% in the second half. In the first half (H1) the market witnessed a decrease of 70 BPS while in the second half (H2), the market witnessed an increase of 60 BPS.
Asia is witnessing a rapid increase in its aging population. Elderly individuals often require frequent medication, and prefilled syringes offer a convenient and easy-to-use drug delivery system for healthcare providers and patients. The rising elderly population is expected to drive the demand for polymer-based prefilled syringes in the region.
The prevalence of chronic diseases, such as diabetes, cardiovascular diseases, and rheumatoid arthritis, is on the rise in Asia. Prefilled syringes are commonly used for the administration of chronic disease medications, providing accurate dosing and reducing the risk of errors in self-injection. The rising burden of chronic illnesses is expected to fuel the demand for prefilled syringes in the region.
Asia has witnessed a surge in the adoption of biologic drugs and biosimilar. Prefilled syringes are well-suited for the delivery of biologics, which are often sensitive to environmental factors. The increasing demand for biologic therapies is anticipated to drive the market for polymer-based prefilled syringes in the region.
Several countries in South Asia and Pacific as well as East Asia are implementing healthcare reforms and initiatives to improve access to quality healthcare services. Government support for the adoption of advanced medical technologies and devices, including prefilled syringes, is likely to boost market growth. The region is expected to hold a CAGR of 5.4% over the analysis period.
North America is a hub for the biopharmaceutical industry, with numerous pharmaceutical and biotech companies engaged in the development of biologic drugs and biosimilars. Prefilled syringes are well-suited for the administration of these complex and sensitive medications. The expansion of the biopharmaceutical industry is likely to fuel the adoption of polymer-based prefilled syringes.
Patient safety and convenience are paramount in the healthcare sector. Polymer-based prefilled syringes with safety features, such as needlestick prevention mechanisms and tamper-evident caps, are becoming increasingly popular among healthcare providers and patients alike. The safety features reduce the risk of needlestick injuries and enhance patient compliance with self-administered medications.
There is a growing trend towards home-based healthcare in North America, driven by the aging population and the desire for more convenient healthcare solutions. Prefilled syringes enable patients to self-administer medications at home, reducing the need for frequent hospital visits and improving patient outcomes.
Advancements in polymer-based materials and manufacturing technologies have led to the development of high-quality prefilled syringes with improved barrier properties, reduced leachables, and enhanced drug compatibility. The technological advancements are expected to drive the adoption of polymer-based prefilled syringes in the region. The region is expected to hold a CAGR of 3.5% over the analysis period.
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| End Use | Hospitals |
|---|---|
| Value CAGR (2034) | 5.1% |
The hospitals segment holds the largest share of the market. The segment is expected to hold a CAGR of 5.1% during the forecast period. Hospitals are primary healthcare facilities where a significant number of patients are admitted for various medical conditions and treatments.
The growing number of hospitalizations increases the demand for prefilled syringes as they offer a convenient and efficient drug delivery method for healthcare professionals.
Hospitals prioritize the use of ready-to-use medical products to streamline their workflow and save time. Polymer-based prefilled syringes eliminate the need for manual drug preparation, reducing the risk of dosing errors and ensuring accurate and consistent drug administration.
In a hospital setting, quick and accurate drug administration is crucial for patient care. Prefilled syringes provide a reliable and precise method for delivering medications, especially during emergency situations or when rapid interventions are required.
Prefilled syringes are manufactured in a controlled environment, minimizing the risk of contamination and maintaining the sterility of medications. Hospitals prioritize the safety of patients, and prefilled syringes contribute to infection prevention and control.
| Material | COP |
|---|---|
| Value CAGR (2034) | 4.6% |
COP-based prefilled are mostly preferred in the market as they offer high purity and excellent chemical resistance which is essential for drugs to maintain their integrity.
This sensitivity and resistance is essential for biologics and biopharmaceutical industries. COP Syringes provide high mechanical strength and impact resistance which reduce the breakage risk while handling and transportation.
Additionally, they provide excellent barrier properties against moisture and gases which protects the stability and shelf life of the pharmaceutical products. These attributes make COP the material of choice for ensuring the safety, efficacy, and integrity of the pharmaceutical products they contain. COP is anticipated to record a 4.6% CAGR in the upcoming decade.
Key players in the polymer-based prefilled syringe market are strongly focusing on profit generation from their existing product portfolios along while exploring potential new applications. The players are emphasizing on increasing their polymer-based prefilled syringe production capacities, to cater to the demand from numerous end use industries. Prominent players are also pushing for geographical expansion to decrease the dependency on imported polymer-based prefilled syringe.
Recent Industry Developments in Polymer-based Prefilled Syringe Market
In terms of material, the industry is divided into Cyclic Olefin Polymer (COP), and Cyclic Olefin Copolymer (COC).
In terms of capacity, the industry is segregated into Up to 5 ml, 6 ml to 20 ml, 21 ml to 40 ml and above 40 ml.
The industry is classified by end use industries as hospitals, clinics, ambulatory surgery centers, research laboratories, drug manufacturing, and clinical research centers.
Key countries of North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia and Pacific, and Middle East and Africa (MEA) have been covered in the report.
The global polymer-based prefilled syringe industry is projected to witness CAGR of 5.9% between 2024 and 2034.
The global polymer-based prefilled syringe industry stood at USD 2.1 billion in 2023.
The global polymer-based prefilled syringe industry is anticipated to reach USD 3.7 billion by 2034 end.
South Asia Pacific is set to record the highest CAGR of 5.9% in the assessment period.
The key players operating in the global polymer-based prefilled syringe industry include Terumo Corporation, Stevanato Group, Becton, Dickinson and Company, and Gerresheimer AG.
1. Executive Summary
2. Industry Introduction
2.1. Market Taxonomy
2.2. Market Definition
3. Market Trends and Success Factors
4. Market Background
4.1. Macro-economic and Industry Outlook
4.2. Market Dynamics
4.3. Value Chain Analysis
4.4. List of Key Market Participants (Manufacturers/Channel Partners)
4.5. Analysis of Key Industry Matrices
4.6. Industry Development Roadmap
5. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034
5.1. Historical Market Volume Analysis
5.2. Future Market Volume Projections
6. Pricing Analysis
7. Global Market Value (USD) Analysis 2019 to 2023 and Forecast 2024 to 2034
7.1. Historical Sales Analysis
7.2. Future Market Size and Growth Projections
8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, Material
8.1. Cyclic Olefin Polymer (COP)
8.2. Cyclic Olefin Copolymer (COC)
9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Capacity
9.1. Up to 5 ml
9.2. 6 ml to 20 ml
9.3. 21 ml to 40 ml
9.4. Above 40 ml
10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by End Use
10.1. Hospitals
10.2. Clinics
10.3. Ambulatory Surgery Centres
10.4. Research Laboratories
10.5. Drug Manufacturing
10.6. Clinical Research Centres
11. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Region
11.1. North America
11.2. Latin America
11.3. Western Europe
11.4. East Asia
11.5. South Asia
11.6. Middle East and Africa (MEA)
11.7. Eastern Europe
12. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments and Country
13. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments and Country
14. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments and Country
15. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments and Country
16. South Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments and Country
17. Middle East and Africa (MEA) Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments and Country
18. Eastern Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments and Country
19. Sales Analysis 2024 & 2034 by Key Market Segments for 30 Countries
20. Competition Outlook including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
21. Company Profile
21.1. Becton, Dickinson and Company
21.2. Gerresheimer AG
21.3. Schott Pharma
21.4. Terumo Corporation
21.5. Stevanato Group
21.6. West Pharmaceutical Services, Inc.
21.7. Baxter International Inc.
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Polymer-based Prefilled Syringe Market
