注射器市場 - 成長，趨勢，預測(2019年∼2024年)
Syringe Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
|出版商||Mordor Intelligence Pvt Ltd||商品編碼||851141|
|出版日期||內容資訊||英文 130 Pages
|注射器市場 - 成長，趨勢，預測(2019年∼2024年) Syringe Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)|
|出版日期: 2021年04月21日||內容資訊: 英文 130 Pages||
The Syringe market is projected to witness a CAGR of around 10.1% during the forecast period, with a revenue of approximately USD 13,852 million in 2020 and expected to reach USD 24,920 million by 2026.
Due to COVID-19, the rise in the development of COVID-19 Vaccines has been observed, which will lead to increased demand for syringes. In January 2020, Biomedical Advanced Research and Development Authority (BARDA) estimated that between 650 million to 850 million needles and syringes would be needed to administer a vaccine in the U.S. alone. As a result, the demand for syringes is expected to increase, which may boost the market growth.
The major factors driving the growth of the Syringe market include the growing prevalence of chronic and infectious diseases and the increase in the usage of Botox for therapeutic applications. As per the International Diabetes Federation 2019 report, the number of people living with diabetes is expected to increase from 463 million in 2019 to nearly 700 million by 2045. Most of the diagnostic and therapeutic techniques for chronic diseases require syringes, as these play a vital role during tests and drug administration, which will lead to its increased demand.
Moreover, the increased adoption of injectable drugs, technological advancements in syringes, the increase in the geriatric population, growing number of vaccination and immunization programs are also expected to drive the volume growth over the next few years. According to World Population Prospects 2019 report (United Nations, 2019), there were about 703 million people aged 65 years or over in the world in 2019. The number of elderly population is projected to double to 1.5 billion in 2050. Worldwide, the share of the population aged 65 years or over increased from 6% in 1990 to 9% in 2019. Moreover, by 2050, approximately 1 in 6 people,globally will be over the age of 65. As the elderly population is expected to grow worldwide and chronic disease being the high-risk factor in this population will drive the market in near future.
On the other hand, the rise in the incidence of needle-stick injuries, a high cost associated with safety syringes, and availability of alternate drug delivery methods are likely to hinder the growth of the syringe market globally.
Prefilled Syringes are Expected to Contribute at Good Rate Over the Forecast Period
Prefilled syringes are gaining acceptance in the market as drug delivery systems designed for injectable drugs. Prefilled syringes provide the advantage of precise dosing as the syringes are already loaded with a dose worth of the drug. These are generally preferred for parenteral administration of various drugs and are used mainly for the treatment of chronic diseases, such as Cancer, Diabetes and several other disease.
The COVID-19 outbreak is also leading to increased demand for prefilled syringes. In November 2020, ApiJect announced the approval of a USD 590 million loan from the U.S. International Development Finance Corporation to support building a United States-based facility with surge capacity to produce up to 3 billion single-dose prefilled plastic injectors per year, with no supply chain limitations. ApiJect's new campus will have 15 production lines to fill and finish vaccines and therapeutics for COVID-19.
Furthermore, many pharmaceutical companies are focusing on bringing in advancements in self-administration therapies. The shift from glass prefilled syringes to plastic pre-filled syringes has been observed among healthcare professionald and patient population. The plastic prefilled syringes are becoming more popular due to the introduction of advanced polymer materials, such as polypropylene and crystal-clear polymer, which are biocompatible with the other components of the syringe.
Hence, owing to the aforementioned factors, along with rising geriatric population, the studied market is expected to witness rapid growth.
Asia-Pacific is Expected to Grow at Healthy Rate Over the Forecast Period
The Asia-Pacific market for syringes is expected to witness healthy growth during the forecast period. Factors, such as improving economic conditions, rise in purchasing power of the people, the growth in awareness regarding the advantages of prefilled syringes, and the presence of a large patient pool suffering from various chronic diseases are expected to drive the market in Asia-pacific region.
The market players are continuously focusing on product launches, which is driving the market growth in the region. For instance, in August 2019, Sunshine Guojian Pharmaceutical, a subsidiary of 3SBio have announced the approval of Yisaipu, a biosimilar of Enbrel (etanercept), as a pre-filled syringe to treat ankylosing spondylitis in China.
Moreover, due to the coronavirus outbreak, there is higher demand for syringes in the region. The COVID-19 pandemic has resulted in a large number of individuals admitted to hospitals. These hospital admissions are followed by various tests using blood samples and injection of various medications to subdue the symptoms due to the virus, which is expected to further fuel the market growth.
The syringe market is highly fragmented with the presence of a large number of local and international players. Key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, mergers, and acquisitions. For instance, in 2019 - Fresenius Kabi launched Adenosine Injection, USP in 6 mg per 2 mL and 12 mg per 4 mL single dose in Simplist ready-to-administer prefilled syringes in the United States.