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.
Competitive Landscape:
The top 5 players in the Prefilled Syringe industry are –
1. Sanofi S.A.
2. Mylan N.V
3. Teva Pharmaceuticals
4. Sun Pharmaceuticals
5. Pfizer Inc.
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Segmental Analysis:
1. 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.
2. 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.
3. 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.
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Report Coverage |
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Report Attributes |
Details |
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By Material Type |
Plastic, Polymer, and Glass.
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By Drug Class |
Neurology Drugs, Cardiovascular drugs, Analgesics, and Others.
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By Distribution Channel |
Offline (Hospital Pharmacies, Drug Stores, and Retail pharmacies) and Online Platforms.
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By Geography |
North America, Europe, Asia-Pacific, South America and Rest of World |
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Market Drivers and Challenges:
1. 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.
2. 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.
3. 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.
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