Global Pre-Filled Saline Syringe Market Size, Trends & Growth Opportunity By Type (3ML, 5ML, 10ML), By End User (Hospitals, Outpatient Clinics, and Homecare Settings), By Region and Forecast till 2030

The global Pre-Filled Saline Syringe market was valued at USD 678.78 million in 2020 and is expected to reach USD 1,497.28 million by 2030, growing at a CAGR of 11.96% from 2020 to 2030.

Pre-Filled Saline Syringe have emerged as one of the fastest-growing choices for unit dose medication as the pharmaceutical sector seeks new & more convenient drug delivery methods. Pharmaceutical companies are able to minimize drug waste & increase product life span, while patients are able to self-administer injectable drugs at their home instead of the hospital.

Drivers:

Growing demand for injectable drugs

Continuous rise in approval and launch of injectable drugs in the market would drive the pre-filled saline syringe market globally. Development of self-injection devices & long-acting formulations, high efficacy, and lower adverse effects are major reasons for increasing demand of injectable formulations.

? In addition, growing focus of market players on R&D for development of new chemicals and biologics, which will be more potent than existing drugs, is likely to boost the market. For instance, in July 2015, the U.S.FDA approved Praluent (alirocumab) to treat hypercholesterolemia in patients.

? It is the first injectable from proprotein convertase subtilisin/kexin type 9 (PCSK9) inhibitors class. Furthermore, currently in the U.S., more than 60% of drugs in clinical trials are biologics and about all biologics are administered via the invasive route. Hence, rising demand of biologics would further propel the pre-filled saline syringe market during the forecast period.

Challenges:

Comparatively high one-time cost

The cost of the innovative and technologically developed products in the market is relatively high as compared to the conventional syringes. This makes it unaffordable for low-income and middle-income countries. Factors such as low manufacturing volume, high start-up cost, and additional safety features increase the cost of devices. For instance, according to a study in Thailand, it was concluded that reusable syringes are 36% cheaper than disposable. Hence, this factor would affect the market negatively. However, prices of pre-filled saline syringes are expected to decrease during forecast period due to entry of new manufacturers and pricing pressure. Hence, high onetime cost is likely to have a minute effect on the market.

Opportunity:

Growing healthcare infrastructure across emerging markets

Developing nations remain to suffer from inadequate healthcare capital, which unfavorably affects access to quality, healthcare, and, eventually, the health position of residents.

According to the statistics published by World Bank, about 500 million people lack access to essential healthcare services, mostly in Africa and South Asia.

Also, quickening medical inflation, i.e., the cost of medical treatments and a advanced frequency of non-communicable lifestyle-related disorders such as diabetes, cancer or cardiac diseases, have resulted in capital or funding gaps.

According to the statistics published by Geneva Association, in the past two decades, the share of total aggregate global healthcare expenditure in GDP has augmented from about 9% to almost 11%, or a projected USD 8.5 trillion per year, which is driven by the hastening cost of medical treatment, increasing treatment options and growing customer demands.

Furthermore, the Global Burden of Disease Health Financing Collaborator Network (2017) estimations that spending on health across the world will almost triple to USD 35 trillion by 2050 with upper-middle-income nations are projected to show the fastest growth at an average of 6.5% per annumn.

This growth could be attributed to continued growth in GDP and the rise of the middle class and government spending.

Market Segmentation:

Pre-Filled Saline Syringe market share by types

In terms of the product type the global Pre-Filled Saline Syringe market is divided into 3 ML, 5 ML, 10 ML and Others. 3ML segment accounted for significant revenue share.

This is due to higher adoption among the end-user segments. Furthermore, the awareness towards cross-contamination, medication errors and benefits of pre-filled saline syringes over conventional syringes lead to strong positioning of these segments in the overall market.

Global Pre-Filled Saline Syringe market revenue by End-user

In terms of end-user, the worldwide industry is categorized into Hospitals, Outpatient Clinics, Homecare Setting, and others.

The Hospitals industry estimated the highest share of the pre-filled saline syringe market in 2020. The growth is due to high penetration of the prefilled syringes due to rising healthcare concerns and changing government regulations to minimize the errors in the treatment. These end-users have significant portion of revenue share in the overall pre-filled saline syringe market.

However, continuing growth of homecare settings to reduce the hospitals stay is projected to drive the growth of the pre-filled saline syringe market. Furthermore, the increase in awareness among the end users to increase the patient compliance is expected to propel the growth of the prefilled saline syringes market.

Global Pre-Filled Saline Syringe market revenue by region

North America pre-filled saline syringe market accounts for the highest revenue share in 2020. In North America, the U.S. dominated the market and is projected to maintain its position over the forecast period.

With the rapid spread of COVID-19, healthcare and others industries are at the forefront of combating the pandemic. There is increasing the production of critical medical devices which are required to cure COVID-19 patients. Pre-Filled Saline Syringe play an important role in the manufacturing of different types of medical devices, and various key industry players have grabbed the opportunity to contribute to the fight against the COVID-19 pandemic.

Key Players

Various key players are listed in this report such as Becton, Dickinson and Company, Cardinal Health, Guerbet SA, MedXL, Sterisets, D.B.M., Shandong Weigao, Schott AG, Gerresheimer AG, etc.

Market Taxonomy

By Type

• 3ML
• 5ML
• 10ML
• Others

By End User

• Hospitals
• Outpatient Clinics
• Homecare Settings

By Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

Key Questions Addressed by the Report

• What are the Key Opportunities in Global Pre-Filled Saline Syringe Market?
• What will be the growth rate from 2019 to 2030?
• Which segment/region will have highest growth?
• What are the factors that will impact/drive the Market?
• What is the competitive Landscape in the Industry?
• What is the role of key players in the value chain?