The new companies in the global prefilled syringes market are striving hard to file patents and get approvals from regulatory bodies in this growing market and launch innovative products, while established companies are busy in acquiring companies and partnerships with other ecosystem players. The strategies to gain a significant market share in this growing industry have been varying from product launches to collaborations and partnerships. Moreover, the relative newness of the industry has intensified the patent landscape with a series of approvals and certifications taking place in the industry. The companies are focusing on new product development in order to compete with each other directly or indirectly as well as other ecosystem players.
Subcutaneous abatacept, produced by one of the key players Bristol-Myers Squib, was approved by FDA and made available to patients suffering from polyarticular juvenile idiopathic arthritis. This prefilled syringe allows for the treatment to be administered at home.1 Another player in the market, Medtronic, is to be acquired by the drug and medical products distributor Cardinal Health. It plans to acquire Medtronic's medical supplies business for $6.1 billion. Medtronic's medical supplies business sells products such as prefilled syringes, bandages and catheters, featuring brands such as Curity, Kendall, Dover, Argyle and Kangaroo.2
The product launches from various market players have increased over the last few years and hence, the growth in the prefilled syringes market is expected to increase significantly. This future potential that the market holds has led BIS Research to compile a report titled ‘Global Prefilled Syringes Market, Analysis & Forecast, 2017-2021’. According to the analyst, “The global market for prefilled syringes is expected to grow at a CAGR of 10.75% from 2017 to 2021 in terms of value. In terms of volume, the market for prefilled syringes is anticipated to reach 8320.6 million units in 2021, growing at a CAGR of 12.31% during the forecast period 2017 to 2021.”
This report includes an exhaustive analysis of the global prefilled syringes market, demarcating the market along the lines of product type, material, design and geographical regions. The report specifically focuses on two major segments, glass-based and plastic-based prefilled syringes. Each of these segments has been analyzed on the basis of their current and future market size and market volume, considering the macro and micro environmental factors.
2 Modern Healthcare