This market research report includes a detailed segmentation of the global prefilled syringe packaging market by material type (glass and plastic) and by application (vaccines, antithrombotic drugs, and other biotech drugs). It also outlines the market shares for key regions such as North America, APAC, Europe, and ROW. The top vendors analyzed in this report are Baxter, Becton Dickinson, Gerresheimer, Nipro, and Schott.
Technavio’s market research analysts estimate the global prefilled syringe packaging market to grow at a CAGR of12% between 2016 and 2020. The prefilled syringes are gaining popularity over parenteral drug delivery routes because of their high affordability, accuracy, and safety. Also, these syringes minimise drug wastage and increase the useful lifespan of drugs. Europe is the dominant region in the global refilled syringe packaging market, accounting for 36% of the total market share. Much of this region’s growth can be attributed to factors like rise in geriatric population and the increased awareness of better healthcare facilities.
The new market research report from Technavio provides a breakdown and analysis of the prefilled syringe packaging segments by technology.
“Recently, it has been observed that many healthcare facilities prefer using disposable products as it reduces the risk of cross-contamination. This rise in the use of disposable products will lead to the augmented demand for plastics as a packaging material due to its cost-effectiveness when compared to glass and metallic materials. Vendors are using superior quality plastics such as cyclic olefin copolymer (COC) and cyclic olefin polymer (COP) as raw material in the construction of prefilled syringes packaging because of their exceptional barrier properties,” says Sharan Raj, Lead Analyst, Transportation & Logistics, Technavio Research.
The glass prefilled syringes segment dominates the prefilled syringes market in terms of total market shares. However, the plastic prefilled syringes segment will experience rapid growth during the forecast period. Since these syringes are break resistant and have the ability to protect drugs from moisture, their augmented adoption by healthcare facilities will lead to market growth during the estimated period.
The key players in the global prefilled syringe packaging market include Baxter, Becton Dickinson, Gerresheimer, Nipro, and Schott. The market is fragmented owing to the presence of several multinational, regional, and local vendors. The smaller and local vendors compete with the multinational vendors in terms of cost, as it is difficult for them to compete with international vendors in terms of quality, features, and range of offerings.
A more detailed analysis is available in the Technavio report, Global Prefilled Syringe Packaging Market 2016-2020.
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