Becton, Dickinson and Company (US) and Gerresheimer (Germany) are Leading Players in the Prefilled Syringes Market
The global prefilled syringes market size is projected to reach USD 8.6 billion by 2025 from USD 5.6 billion in 2020, at a CAGR of 9.0% during the forecast period. Factors such as rising demand for prefilled syringes is attributed to the growing prevalence of chronic diseases, technological advancements, rising adoption of self-injecting parenteral devices, and supportive government regulations (especially needlestick legislations). In addition, growing awareness on the benefits of prefilled syringes among patients and healthcare professionals, along with the growing number of biologics and biosimilars in the pharmaceuticals market. However, the adoption of prefilled syringes with integrated safety features has been low among end users, and the continuation of this trend are expected to restrain the growth of this market during the forecast period.
Becton, Dickinson and Company (US), Gerresheimer (Germany), SCHOTT AG (Germany), West Pharmaceutical Services, Inc. (US), Ompi (Italy), and Nipro Corporation (Japan) are the top five players in the prefilled syringes market. Other prominent players operating in this market are Baxter International Inc (US), Catalent, Inc. (US), Weigao Group (China), Vetter Pharma International GmbH (Germany), Elcam Medical (Israel), YPSOMED (Switzerland), Oval Medical Technologies (UK), SHL Medical AG (Switzerland), Terumo (Japan), Owen Mumford Ltd. (UK), Haselmeier (Germany), MicSafe Medical Group (China), Datwyler (Switzerland), and MedXL (Canada), among others. The analysis of market developments between 2017 and 2020 revealed that several growth strategies such as research collaborations and strategic market expansions were adopted by market players to strengthen their product portfolios and maintain a competitive position in the prefilled syringes market.
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Becton, Dickinson and Company (US) held the leadership position in the global prefilled syringes market with a share of 37.2% in 2019. The company’s dominant position in this market can be attributed to its broad product portfolio of prefilled syringes, strong geographical presence, and wide customer base. The company primarily focuses on the strategy of product launch.
Gerresheimer (Germany) held the second position in the global prefilled syringes market, with a share of 13.3% in 2019. The company’s customer base includes a large number of global blue chip pharmaceutical and healthcare companies (Sanofi, Bayer, AstraZeneca, Novo Nordisk, Johnson & Johnson, and Novartis). To maintain its position in the market, the company focuses on the strategies of product launches and partnerships.
SCHOTT AG (Germany) held the third position in the market with a share of 10.7% in 2019. Over the past three years, the company adopted geographical expansions and product launches as its key business strategies.
Related Reports:
Prefilled Syringes Market by Type [Conventional (Disposable, Reusable), Safety], Material (Glass, Plastic), Design (Single-Chamber, Dual-Chamber, Customized), Application (Diabetes, Cancer, Arthritis, Anaphylaxis, Ophthalmology) - Global Forecast to 2025
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