Prefilled Syringes Market Size, Scope, Forecast, And Growth Highlights Over 2023

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Report ID: 4398 | Published On: Oct 12, 2022

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Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.

In The News

Abbott joins the partnership with primary healthy-tech companies involving, Sugar.fit, healthifyme, Fitterfly, BeatO, PharmEasy, GOQii, 1 MG, and Zyla Health. By this collaboration, Abbott aim to deploy glucose monitoring solution to 8 million people with diabetes.
Nipro Pharma Corporation announced new finding which is certainly to elaborate Nipro’s product portfolio. The Nipro D2F prefilled syringes are compatible with Schreiner MediPharm Needle-Trap. This

Global Prefilled Syringes Market Highlights Over 2023 - 2033

Key Questions Answered in the Report

1) What are the major factors driving the growth of the prefilled syringes market?

Ans: Higher number of HIV and hepatitis patients, growing vaccination drive of COVID-19, risk of contamination by used needles, rising investment in prefilled syringes and higher use of biologic drugs are few factors likely to propel the market growth.

2) What would be the CAGR of prefilled syringes market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~12% over the forecast period, i.e., 2023 – 2033.

3) What are the challenges affecting the prefilled syringes market growth?

Ans: Risk of syringe leakage, stringent rules for the manufacturing of prefilled syringes and chances of embolism while injecting are few challenges faced by the market

4) Which region will provide more business opportunities for growth of prefilled syringes market in future?

Ans: The market in Europe is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

5) Who are the major players dominating the prefilled syringes market?

Ans: The major players in the market are Abbott, Bayer Pharmaceuticals, Baxter BioPharma Solutions, BG (Becton, Dickinson and Company), Gerresheimer AG, Medtronic, Nipro Pharma Corporation, Terumo Medical Corporation, Vetter Pharma International GmbH, West Pharmaceutical Services, Inc., and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the prefilled syringes market?

Ans: The market is segmented by design, material, application, and by region.

8) Which segment captures the largest market size in application in the prefilled syringes market?

Ans: The diabetes segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

Healthcare & Pharmaceutical