Healthcare

Prefilled Syringe Packaging Market 2019 Global Industry Size, Outlook, Share,Forecast till 2025

Press Release

Prefilled Syringes- Insights into Novel Drug Delivery System

The prefilled syringes are one of the fastest growing choices for the unit dose delivery and has emerged as one of the most convenient way of drug delivery method in the recent years. The extensive use of prefilled syringes has enabled the pharmaceutical companies to minimize drug-wastage and increase the life-span of the product at the same time.

The plastic disposable syringes has created a revolution in the healthcare market which has been enhanced by the introduction of sterile prefilled syringes that enables safe self-administration of injectable drugs to patients sitting at home without a need to visit hospitals. According to National Center for Biotechnology Information (NCBI), 25% of expenditure on drugs goes unused and wasted in the United States while 3-7% of medications intended towards patients goes unused.

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These massive revenues could be directed in a useful way with the use of prefilled syringes in the market that enables to improve the shelf life of the drugs as well as avoids wastage of drugs as the syringes are filled with exact volume and concentration of the drug that will deliver optimum results. Prefilled syringes make a profitable deal for the pharmaceutical companies too, as these companies can be benefitted from the less over-fill of drugs as compared to the vials that serves to be an important advantage, particularly in case of costly biopharmaceuticals.

The global prefilled syringes market was valued at US$ 2,805.4 million in 2015 and is expected to witness a CAGR of 11% during the forecast period (2017 – 2025).

Rise in prevalence of chronic diseases globally augments the market growth of the prefilled syringes

Chronic diseases such as type 1 diabetes is encountered among a significant population across the globe, wherein the patients are suggested to undergo regular intra-venous administration of insulin to control their sugar levels inability in natural insulin production. These injections are easy and feasible task with the use of pre-filled syringes that makes the self-administration more convenient and viable. According to Centers for Disease Control and Prevention (CDC), 2014, around 29.1 million people in the U.S. were suffering from diabetes, accounting for 9.3% of the total population.

These figures suggests need for the development in the technology for the cure and prevention of the diseases. The North American market shows significant growth in the adaption of technological advancements such as prefilled syringes that helps in the treatment of diseases with precision, affordability and easy techniques that promotes the use of self-medication. On the other hand, various alternative techniques prevailing in the market for drug administration such as transdermal delivery systems that facilitates pain-free administration of drugs can hamper to the growth of the prefilled syringes market to a certain extend.

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Furthermore, the drug interaction with the packaging material leading to chemical reaction that may change the effectivity and impact of the drug on the patient marks as one of the serious issue restraining the market growth as these chemicals can prove fatal at certain point of times. However, key players operating the prefilled syringes market are engaged in research activities to come up with packaging material that will not interfere in the composition of the drug dosage.

Key players indulged in strategic implementation of various policies for the stabilization of prefilled syringes as well as to encounter other issues associated with it

In 2015Gerresheimer and Corning Inc. signed a joint venture in order to accelerate the innovations for pharmaceutical glass packaging materials. The companies entered into a 10 year supply agreement for borosilicate glass tubes focusing on packaging of pharmaceutical products.

In 2016, BESPAK launched SYRINA AR 2.25 auto injector that enables fully-automatic delivery of viscous drug formulations. The innovative auto-injector is specifically tailored to inject higher viscosities enabling safe use of glass syringes.

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This post was originally published on Trading Herald

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