A new research report by Future Market Insights titled Prefilled Syringes Drug Molecules Market briefs the scenario of the global prefilled syringes drug molecules market which is set to be valued at US$ 56 Bn in 2022, and is projected to expand at a CAGR of 5.6% to close in on a valuation of US$ 77.7 Bn by 2028.
Prefilled syringes drug molecules are prefilled with medication by the manufactures and are supplied to end users in the ready-to-use form. The overall global investment in healthcare has increased in the last few years. Healthcare field solutions continue to be sought after to increase the quality of life, which provides significant opportunities for pharmaceutical companies. This has also contributed to the growth of various segments of the healthcare industry such as the prefilled syringes drug molecules market.
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Global Prefilled Syringes Drug Molecules Market: Drivers and Opportunities
The report indicates that revenue growth of the market is mainly driven by the effectiveness, convenience and ease of use of prefilled syringes. This has attracted various healthcare professionals and patients to use prefilled syringes. In addition, the minimal contamination of drug molecules and self-administration of drugs at home settings have increased the demand for prefilled syringes drug molecules.
Manufacturers are focussing on introducing updated technologies and advanced products in order to attract customers. Pharmaceutical companies are introducing generic versions for cost-effective auto-injector devices and are targeting emerging regions such as the Asia Pacific, Middle East and others in order to sustain and grow in the global prefilled syringes drug molecules market.
Global Prefilled Syringes Drug Molecules Market: Segmental Analysis
On the basis of region, North America is expected to lead the market with a huge margin. The North America prefilled syringes drug molecules market is expected to reach a market valuation of over US$ 23,000 Mn by the end of 2028, growing at a CAGR of 6.2% during the forecast period.
On the basis of drug class, vaccines and insulin are anticipated to show quite similar forecast with a high revenue share and CAGR
On the basis of application, immunisation dominates the global prefilled syringes drug molecules market with its projected revenue share. However, diabetes leads in terms of growth rate with 6.6% CAGR during the forecast period.
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In terms of end users, hospital pharmacies are expected to lead the global market with a market revenue of over US$ 32,000 Mn by 2028. However, online pharmacies are projected to register a higher growth rate of 6.2% during the forecast period.
Global Prefilled Syringes Drug Molecules Market: Competitive Landscape
This comprehensive research report consists of a brief profile of all the major players in the industry. Some of the top companies featured in the report are Amgen Inc., Teva Pharmaceutical Industries Ltd., AstraZeneca plc, Mylan N.V., Pfizer, Inc., Fresenius Kabi AG, Johnson & Johnson, Sanofi, Merck & Co. Inc., Novartis AG etc.
The global prefilled syringes drug molecules market is highly competitive due to the presence of well-established top players. However, brands such as EpiPen auto Injector and BD Physioject disposable auto injector have strategically maintained their position in the market owing to a distinctive value proposition such as providing more precision and accurate dosage.
Key Segments of Prefilled Syringes Drug Molecules Industry Research
By Drug Class:
- Vaccines
- Insulin
- Adrenaline
- Opioids
- Others
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By Application:
- Prefilled Syringes Drug Molecules for Cardiovascular Diseases
- Prefilled Syringes Drug Molecules for Diabetes
- Prefilled Syringes Drug Molecules for Immunization
- Prefilled Syringes Drug Molecules for Pain Management
- Others
By End User:
- Prefilled Syringes Drug Molecules Sold at Hospital Pharmacies
- Prefilled Syringes Drug Molecules Sold at Retail Pharmacies
- Prefilled Syringes Drug Molecules Sold through Online Pharmacies
- Prefilled Syringes Drug Molecules Sold at Drug Stores
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 07-years.
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