Challenges in the Prefilled Syringes Market: Strategies for Sustaining 10.21% CAGR Forecast (2023-28)

Challenges in the Prefilled Syringes Market: Strategies for Sustaining 10.21% CAGR Forecast (2023-28)

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Global Prefilled Syringes Market Insights Report Overview:

According to the latest market study by MarkNtel Advisors titled “Global Prefilled Syringes Market Size, Share, Trends, Growth, Opportunity Analysis 2023-2028” presents a thorough examination of market drivers, opportunities and challenges.

Utilizing a quantitative approach, it offers precise insights into market size, share, and growth. Crafted by industry experts, the report delves into consumption patterns, geographical analysis, and competitive landscapes. Its objective is to furnish valuable insights for clients seeking to comprehend and leverage market dynamics. With a dual focus on historical achievements and future projections, it furnishes a nuanced understanding of the market terrain.

Prefilled Syringes Market Insight:

The Global Prefilled Syringes Market size was valued at USD 6.22 Billion in 2022 and is projected to grow at a CAGR of around 10.21% during the forecast period, i.e., 2023-28.

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Global Prefilled Syringes Market Possible Restraint

Frequent Recalls Caused by Impurities or Leakage in Syringes - The market growth for prefilled syringes, which are gaining popularity for complex biotechnology products, faces hindrances due to product recalls caused by their impurities or leakage. A notable incident occurred in July 2022 when Nephron Pharmaceuticals Corporation, a U.S.-based company, had to recall 20 prefilled syringes containing medicines like ketamine, epinephrine, and oxytocin. Concerns over the sterility assurance of syringes prompted the recall. These recalls lead to significant financial losses for pharmaceutical companies and erode consumer trust in the safety & efficacy of prefilled syringes.

Competitor Insight: Prefilled Syringes Market

This report focuses on major market participants like:

  • Abbott Laboratories

  • Bayer AG

  • Baxter International

  • Becton, Dickinson and Company

  • Gerresheimer AG

  • Medtronic Plc

  • Nipro Corporation

  • Terumo Medical Corporation

  • Vetter Pharma International Gmbh

  • West Pharmaceutical Services, Inc

  • Unilife Corporation

  • Owen Mumford Ltd

  • Scandinavian Health Limited (SHL Group)

  • Haselmeier AG

  • Schott AG

  • Others

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Segmentation Summary: Prefilled Syringes Market

This segmentation analysis outlines prominent sections in the report's table of contents. Each segment undergoes thorough analysis, including sub-segments, to showcase both current and historical market sizes. The analysis underscores investment opportunities for rapid growth, particularly in the Prefilled Syringes Market, with notable highlighting on:

-By Material

  • Glass Prefilled Syringes

  • Plastic Prefilled Syringes

Of both, Glass Prefilled Syringes hold a dominant position in the global market, accounting for most of the total revenue share. Based on the current market outlook, glass syringes are considered the preferred choice for in the medical field. Healthcare professionals find them easy to use and rely on them to detect particulate impurities. The clarity & inertness of glass guarantee the purity of the administered dose, making it a trusted option for medical practitioners.

-By Type

  • Conventional Prefilled Syringes- Market Size & Forecast 2018-2028, USD Million

  • Safety Prefilled Syringes- Market Size & Forecast 2018-2028, USD Million

-By Design

  • Single-chamber- Market Size & Forecast 2018-2028, USD Million

  • Dual-chamber- Market Size & Forecast 2018-2028, USD Million

  • Customized- Market Size & Forecast 2018-2028, USD Million

-By Application

  • Anaphylaxis- Market Size & Forecast 2018-2028, USD Million

  • Rheumatoid Arthritis- Market Size & Forecast 2018-2028, USD Million

  • Diabetes- Market Size & Forecast 2018-2028, USD Million

  • Others- Market Size & Forecast 2018-2028, USD Million

Prefilled Syringes Market Geographical Reach:

-By Region

  • North America

  • South America

  • Europe

  • The Middle East & Africa

  • Asia-Pacific

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Key Questions Addressed:

  • Factors Driving Market Growth: Understand the primary drivers propelling the Prefilled Syringes market forward.

  • Access to Reliable Reports: Learn where to access dependable market reports for informed decision-making.

  • Growth Projections: Gain insights into anticipated growth projections for the coming years.

  • Geographical Hotspots: Identify geographical poised for significant market growth soon.

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MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others.

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