Prefilled Syringe Small Molecule Market Overview
Prefilled Syringe Small Molecule Market size is estimated to reach $14.8 billion by 2027, growing at a CAGR of 9.2% during the forecast period 2022-2027. Pre-filled syringes have emerged as a reliable and effective method of drug administration as they help in curtailing drug waste. Nowadays, these syringes are prefilled with medicine and come in ready to usage form. Small molecule drugs which are frequently used in prefilled syringes possess lower molecular weight commonly taken into account as a substitute for capsules and tablet forms of medications. They are filled with different categories of medicines such as cardiovascular drugs, analgesics, adjuvants, and others, and they can be used in protein aggregation and administration of monoclonal antibody to fight infections. Prefilled syringes extend numerous benefits over conventional syringes such as precise dosing, self-administration, innocuous, and little to no chances of drug contamination. The unprecedented spike in the occurrence of chronic illnesses, escalating demand for self-administrable syringes, and growing mergers and acquisitions in the market are the prominent factors set to drive the growth of the Prefilled Syringe Small Molecule Market for the period 2022-2027.
The report: “Prefilled Syringe Small Molecule Market Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Prefilled Syringe Small Molecule Market.
Material Type: Plastic,
Polymer, and Glass.
By Drug Class: Neurology Drugs, Cardiovascular drugs, Analgesics, and Others.
By Distribution Channel: Offline (Hospital Pharmacies, Drug Stores, and Retail pharmacies) and Online Platforms.
By Geography: North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America) and Rest of World (the Middle East and Africa).
- Geographically, the North America Prefilled Syringe Small Molecule Market accounted for the highest revenue share in 2021. The growth is owing to the presence of top-notch pharmaceutical players in the said market, high awareness among residents, and a strong network of both offline and online distribution channels.
- Proliferating prevalence of acute and chronic ailments, budding health attentiveness among people, a growing network of distribution channels, and expanding demand for ready-to-use and self-administrable syringes are said to be preeminent drivers driving the growth of Prefilled Syringe Small Molecule Market. The demand and supply gap generated by the COVID-19 restrictions is said to reduce the market growth.
- Detailed analysis of the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Prefilled Syringe Small Molecule Market report.
Prefilled Syringe Small Molecule Market Segment Analysis-By Drug Class
The Prefilled Syringe Small Molecule Market based on the drug class can be further segmented into Neurology Drugs, Cardiovascular drugs, Analgesics, and Others. The analgesics segment held the largest share in 2021. The growth is owing to heavy demand because of intensifying acute illnesses. Analgesics are extensively used for their painkilling properties. These drugs may help confer relief from headaches and arthritis complications. Anti-inflammatory analgesics curtail the tenderness; whereas, opioid analgesics alter the brain’s pain perceiving capacity. Therefore, considering the enlarging incidences of joint disorders, inflammation, stress, and depression, the overall demand for analgesics has witnessed an unparalleled surge. Nevertheless, analgesics along with the cardiovascular drug segment is estimated to be the fastest-growing with a CAGR of 10.4% over the forecast period 2022-2027. This growth is owing to augmenting burden of cardiovascular diseases. Heart attack has become a leading cause of death around the globe. As a result, the overall demand for cardiovascular drugs is sky-rocketing.
Prefilled Syringe Small Molecule Market Segment Analysis-By Distribution Channel
The Prefilled Syringe Small Molecule Market based on distribution channels can be further segmented into Offline (Hospital Pharmacies, Drug Stores, and Retail pharmacies) and Online Platforms. The offline segment held the largest share in 2021. Unlike online platforms, hospitals pharmacies and retail pharmacies have an across-the-board presence in both developed and underdeveloped areas. There is no doubt about it that online pharmacies offer a quicker and hassle-free way to get medicines but rudimentary infrastructure in rural areas doesn’t provide them with a conducive environment to execute their operations. Furthermore, the online segment is estimated to be the fastest-growing segment with a CAGR of 10.8% over the forecast period 2022-2027. This growth is owing to the rising migration of people from the countryside to cities, rapid digitalization, improving economic affluence of many developing countries, growing tech-friendly population, technological breakthroughs like Google Maps, and digital payment systems.
Prefilled Syringe Small Molecule Market Segment Analysis-By Geography
The Prefilled Syringe Small Molecule Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held the largest share with 36% of the overall market in 2021. The growth in this segment is owing to the factors such as well-established infrastructure which offers a conducive environment for both online and offline pharmacies to extend their services easily. Moreover, the presence of prominent pharmaceutical players like Pfizer and McKesson has its fair share in the growth of prefilled syringe small molecule market in the said segment. In addition to that, better awareness regarding the health and existence of such products has propelled the demand. However, Asia-Pacific is expected to be the fastest-growing segment over the forecast period 2022-2027. This growth is owing to a gigantic population and high infection rates because of unhygienic practices. Nevertheless, bettering infrastructure as governments are ensuring a constant flow of riches. Last but not least, growing living standards are changing peoples’ careless attitude toward health which has been a prominent factor aiding the market growth.
Prefilled Syringe Small Molecule Market Drivers
The growing prevalence of health complications is anticipated to boost market demand.
Over the past decade, the pervasiveness of cardiovascular diseases such as cardiac arrest, coronary artery disease, and high blood pressure has witnessed a surge of over 17 percent. The incidences of death because of heart attack are relatively high in countries with a decidedly obese population such as the US. According to a report, every year heart attack claims the lives of nearly 659,000 Americans. In addition to that, the spiraling elderly population has spiked the incidences of arthritis. Over 350 million people across the globe were suffering from arthritis in 2021. The problem is likely to spike as the old-age population is anticipated to reach 2 billion before long. In addition to that, growing stress and depression problems because of eventful lifestyles of people have their fair share in abetting the market growth.
Growing health attentiveness among people is expected to boost market demand.
As the living standards of people are increasing, rather than being reactive people are becoming more proactive. Nowadays, many households maintain a proper stock of generic medicines like analgesics and other drugs which might help them in case of emergency. In addition to that, the self-administrable nature of prefilled syringes has drawn the eyes of millions across the globe. Thereby, proliferating demand for ready-to-use and self-administrable prefilled syringes has emerged as a key driver for market growth. Besides, ameliorating infrastructure in developing countries, tech-friendly population, and rapid digitalization have propelled the market. For instance, China and India are home to most smartphone users in the world. China had over 900 million; whereas, India had over 420 million users in 2021. The number is likely to escalate and supplement the market growth.
Prefilled Syringe Small Molecule Market Challenges
The gap between demand and supply and reduced income because of the pandemic is anticipated to hamper the market growth.
Precautionary lockdown enforced by the government authorities of different countries around the globe to curve the virus spread has had a staggering negative effect on prefilled syringe small molecule market growth. Owing to the pandemic many employees were forced to leave their job or fired by the company; consequently, a lower workforce has hampered the production activities. Nevertheless, the shortage of raw materials had put companies’ operations on halt. In addition to that, because of job loss, many people have cut down their discretionary spending. According to a report by Deloitte, in 2020 personal saving rates doubled and reached 14.2% as compared to 2019.
Prefilled Syringe Small Molecule Industry Outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the aforementioned Market. Prefilled Syringe Small Molecule top 10 companies include:
- Sanofi S.A.
- Mylan N.V
- Teva Pharmaceuticals
- Sun Pharmaceuticals
- Pfizer Inc.
- Dr. Reddy’s laboratories
- AstraZeneca plc
- F. Hoffmann-La Roche AG
- McKesson Corporation
- Fresenius Kabi
- On December 2, 2021, Basel, Switzerland-based multinational healthcare company “Roche Holding” announced the successful acquisition of Berlin, Germany-based biotech company “TIB Molbiol.” The financials of the acquisition were kept a secret. However, the acquisition will strengthen its rapid assays development capabilities of Roche.
- On September 8, 2021, Paris, France-based renowned healthcare company “Sanofi” announced that it has successfully reached an agreement with New York, United States-based biopharmaceutical company “Kadmon Holdings.” Sanofi announced that it will make a payment of $1.9 billion ($9.50 per share) in order to wrap up the process.
- On June 19, 2019, Texas, United States-based McKesson Corporation (a company known for its services and pharmaceutical supplies) announced the successful acquisition of the medicine management application “Echo” which helps in alerting patients “when to take medicine” The financial details of the transaction were not disclosed by the company.
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