Prefilled Syringes Market 2022: Detailed analysis and growth trends

This new report from Stratview Research analyses the Prefilled Syringes Market over the forecast period from 2022 to 2028. The insights of the report shall enable informed decision-making and strategy formulation for the near future to capitalize on the opportunities.

Prefilled Syringes Market Overview:

The prefilled syringes market was estimated at US$ 5.3 billion in 2021 and is expected to grow at a CAGR of 10.92% during 2022-2028 to reach US$ 10.98 billion in 2028.

The primary reasons driving the market expansion are an increase in the demand for effective and user-friendly drug delivery systems and an increase in the efforts made by healthcare professionals to lower hospital errors. During the projected period, the market expansion is anticipated to be driven by the rapid development of feature-rich devices with underlying technology breakthroughs enabling safer and convenient self-injections for patients.

Drivers

The following are the major players in the prefilled syringes market:

• Abbott
• Baxter
• Bayer AG
• BD
• Gerresheimer AG
• Haselmeier AG
• Medtronic plc
• Nipro Medical Corporation
• Owen Mumford
• Schott Group
• Terumo Medical Corporation
• Unilife Corporation
• Vetter Pharma GmbH

Prefilled syringes are receiving an increasing number of regulatory agency approvals from the U.S., FDA, and EU, combined with an expanding market, which is expected to significantly aid industry growth.

Segment Analysis

The market is divided based on design, material, application, and type. On the basis of design, the market is further segmented into single chamber, dual chamber, and customized.

On the basis of application, the market is segmented into anaphylaxis, rheumatoid arthritis, diabetes, others. The diabetes market segment dominated the sector when looking at the range of applications. Numerous factors, including a sizable patient population, a rise in the prevalence of diabetes, and the demand for efficient and safer insulin delivery devices, are anticipated to keep this market at the top during the projection period. For instance, the International Diabetes Federation research estimates that there will be 537 million persons with diabetes worldwide (aged 20 to 79) in 2021, rising to roughly 783 million by 2045.

Based on type, the market is bifurcated into disposable prefilled syringes, and reusable prefilled syringes. Due to its numerous uses, the disposable prefilled syringes market segment had the biggest share in 2021. These devices lessen the danger of contamination, which is expected to increase demand for them. Needlestick injuries are brought on by risky practises such repeatedly using a prefilled syringe and needle without taking the necessary safety procedures as advised by medical authorities. Additionally, while conventional disposable prefilled syringes protect the receiver, they do not guarantee patient safety. Therefore, a strong desire for patient safety has led to an increase in the use of disposable equipment in healthcare facilities including hospitals and nursing homes. These elements should accelerate segment growth.

Based on material, the prefilled syringes market has been divided into glass prefilled syringes, plastic prefilled syringes. The glass syringes category led the market in 2021. Glass syringes are currently the industry standard for prefilled syringes. Glass syringes are simple to use and, for medical experts, check for any particulate contaminants. Glass is a trustworthy choice because of its clarity and inertness, which guarantee the purity of the dose. However, it is projected that the use of glass syringes in the worldwide prefilled syringes market will be limited by rising consumer desire for safer goods that enable self-administration of medication and increased glass fragility during shipping.

The prefilled syringes market is broken down geographically into geographies, namely North America, Europe, Asia-Pacific, and the Rest of the World (RoW). Due to considerations like the increasing preference of healthcare professionals for prefilled injectable devices in order to reduce needle-related injuries, Europe held the largest market share for prefilled syringes in 2021. Major market companies including Gerresheimer AG, SCHOTT group, Stevanato Group, Haselmeier AG, and Owen Mumford Ltd. are also present in the area. Over time, several businesses have increased their local presence. Due to this circumstance, the market has become more competitive in the area, making it challenging for new competitors to enter. Due to these businesses' global expansion and dominance of the market, Europe receives the majority of global revenue. the use of single-use medical products to reduce infections, as well as other government initiatives fuels the market growth.

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Water Electrolysis Market to Grow at a Robust Pace During 2023-2028

Water Electrolysis Market report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The growth of the market will be fueled by the favourable regulatory policies toward building out hydrogen infrastructure and expanding its use as an industrial feedstock. The continued advancement of technology and the decline in carbon emissions from manufactured goods will be favourable to the future for business. The market structure for water electrolysis in the world today takes into account current developments as well as the use of new technology by the major industry participants. The market grew as a result of a number of causes, including rising global carbon emissions, rising low carbon hydrogen and ammonia production, increasing margarine consumption, rising capacity for menthol manufacture, and growing semiconductor demand. As a result of these factors, the water electrolysis market is expected to grow at a promising CAGR of 6.9% during the forecast period.

Segment Analysis

Based on the product type, the water electrolysis market is segmented into proton exchange membrane, alkaline water electrolysis, and solid oxide electrolyte. Alkaline water electrolysis is expected to remain the largest and fastest-growing product type in the market during the forecast period. The most advanced water electrolysis method is well recognised as alkaline water electrolysis.

The majority of the installed water electrolysis capacity worldwide comes from alkaline electrolyzers. The vast majority of alkaline electrolyzers are appropriate for producing hydrogen on a large scale. Alkaline water electrolysis research is currently focused on increasing efficiency through the use of high temperature and high-pressure operations. 

Based on the end-user type, the market is segmented into chemicals, electronics & semiconductor, power plants, petroleum, pharmaceuticals, and others. Chemical is expected to remain the dominant as well as the fastest-growing end-user type in the market during the forecast period.

In order to produce ammonia, which has a rising demand for hydrogen in the chemical sector, fertilisers and methanol are utilised in the production of polymers. Other essential chemicals made from hydrogen include aniline, cyclohexane, hydrochloric acids, and a variety of bases.

In terms of regions, North America is expected to witness significant growth in the water electrolysis market during the forecast period. In the development of hydrogen through water electrolysis, the US is a world leader. In North America, hydrogen and fuel cells provide energy security and a healthier environment for people.

To guarantee the safety and environmental friendliness of hydrogen and fuel cell products, the US has maintained and developed particular rules and standards. For the usage of hydrogens, numerous innovations have been put into place, including hydrogen-powered buses and forklifts at retail establishments. 

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Features of the Report

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

The Water Electrolysis Market analysis report discusses the following heads in great detail:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• COVID-19 Impact Assessment
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

About Stratview Research

Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making. It is a global market intelligence firm providing a wide range of services including syndicated market reports, custom research, and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.

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Smart Pills Technology Market: Competitive Analysis and Global Outlook 2022-2028

Smart Pills Technology Market is segmented by Target Area Type (Esophagus, Stomach, Small Intestine, Large Intestine), Disease Indication (Barrett's Esophagus, Small Bowel Diseases, Colon Cancer, Others), by Application Type (Capsule Endoscopy, Drug Delivery, Patient Monitoring, Others), End User (Hospitals and Clinics, Diagnostic Centres, Research Centres, Others), by Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The U.K., Russia, and Rest of Europe], Asia-Pacific [China, Japan, India, South Korea, and Rest of Asia-Pacific], and Rest of the World [Brazil, Saudi Arabia, Israel, and Others]).

What is a Smart Pills Technology Market?

Smart pills are ingestible, capsule-sized medical gadgets with sensors, cameras, patches, and trackers that aid in more accurate diagnosis, patient monitoring, and targeted drug delivery. They often come in the shape of pills the size of vitamin capsules and have a small wearable sensor patch, a smartphone app, and a provider site.

Market Dynamics

The smart pills technology market was estimated at US$ 3.13 billion in 2021 and is expected to grow at a CAGR of 8.28% during 2022-2028 to reach US$ ~6.9 billion in 2028. The small pills technology market is expected to expand significantly. This increase is the result of more research being published that support the use of smart tablets as a form of disease therapy. For instance, the IBD (Inflammatory Bowel Diseases) Journal published an article by SmartTab titled "Advancing High Tech Drug Delivery Systems for the Treatment of Crohn's Disease" in January 2021. Radio frequency (RF) signalling is used by the company's capsule technology to set off an ideal release of the pharmaceutical contents to the designated areas of the GI tract.

 

Features of the Report

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

The Smart Pills Technology Market analysis report discusses the following heads in details:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• COVID-19 Impact Assessment.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players
• Key success factors.

Regional Analysis

The smart pills technology market is broken down geographically into areas like North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In 2021, North America is anticipated to be the smart pills technology market's largest region. Medical researchers' ongoing progress in the area of ingestible electronics is what is fueling this rise. The U.S. FDA and other regional agencies have been developing standards for obtaining approvals for digital smart tablets. Over the anticipated period, such actions are anticipated to fuel regional growth.

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