Prefilled Syringes Market Sees Growth At Rate Of About 21% Through 2021 Due To COVID-19 Vaccinations
Prefilled Syringes Market Report 2021: COVID-19 Implications And Growth
Vaccinations The Business Research Company’s Prefilled Syringes Global Market Report 2021: COVID-19 Implications And Growth
LONDON, GREATER LONDON , UK, June 9, 2021 /EINPresswire.com/ -- The global prefilled syringes market size is expected to grow from $5.78 billion in 2020 to $7.29 billion in 2021 at a compound annual growth rate (CAGR) of 20.74%. The exponential prefilled syringe market growth is mainly due to the companies catering to the growing demand for COVID-19 vaccines that require pre-filled syringes. The pre-filled syringes market is expected to reach $11.18 billion in 2025 at a CAGR of 11.30%.
High demand for prefilled syringes to administer COVID-19 vaccines is expected to boost the prefilled syringes market during the forecast period. Prefilled syringes are being preferred for administering COVID-19 vaccines to reduce the risk for needle stick infections. To cater to the growing demand for administering COVID-19 vaccines, the companies are focusing to increase the production of prefilled syringes. For instance, in May 2020, the US Department of Defense awarded a contract of $138 million with ApiJect Systems America for “Project Jumpstart” and “RAPID USA,” to facilitate the production of prefilled syringes for the coronavirus vaccine. Project Jumpstart supported the supply chain for prefilled syringes that manufacture 100 million prefilled syringes. The contract also accelerated the launch of RAPID USA to facilitate the production of 500 million prefilled syringes by 2021. Thus, the high demand for prefilled syringes intended for the administration of COVID-19 vaccines is expected to fuel the market growth during the forecast period.
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Major players in the prefilled syringes market are Becton Dickinson and Company, Gerresheimer AG, Schott Group, West Pharmaceutical Services Inc., Baxter International Inc., Nipro Corporation, Terumo Corporation, Vetter Pharma International GmbH, Stevanato Group, Weigao Group, Novartis, Catalent Inc., Unilife Corporation, Eli Lilly and Company, Amgen, Bayer AG, Pfizer Inc., Bristol-Myers Squibb Company, F. Hoffman-La Roche AG, AbbVie Inc., Owen Mumford, AptarGroup Inc., Medtronic, Abbott, Fresenius Kabi, Medpro, Mylan, Elcam Medical, YPSOMED, Oval Medical Technologies, and SHL Medical AG.
Europe was the largest region in the prefilled syringes market in 2020. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The global prefilled syringes market is segmented by type into the conventional prefilled syringes market, safety prefilled syringes market, by material into glass prefilled syringes, plastic prefilled syringes, by design into single-chamber prefilled syringes, dual-chamber prefilled syringes, customized prefilled syringes, and by application into diabetes, rheumatoid arthritis, anaphylaxis, cancer, thrombosis, ophthalmology, others.
Prefilled Syringes Global Market Report 2021: COVID-19 Implications And Growth is one of a series of new reports from The Business Research Company that provides prefilled syringes market overview, forecast prefilled syringes global market size and growth for the whole market, prefilled syringes global market segments, and geographies, prefilled syringes global market trends, prefilled syringes global market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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