Prefilled Syringes Industry, Demand Overview and Global Forercast to 2024Posted by Shrikant Gadewar on January 23rd, 2020 Market Overview: The market driver of the highest stature for the global prefilled syringes market growth is the increase in chronic ailments and demand for advanced medical facilities. The rise in diabetes, cancer, and cardiovascular disorders is also causing market growth. Other important market drivers are increasing research & development (R&D), demand for convenient drug delivery methods, elimination of dosing errors, need for more effective methods for unit dose medication, greater dose precision, suitability for home use, and initiatives from different governments around the world to boost healthcare sector. Prefilled syringes are defined as disposable syringes (meant for one-time use) that are already filled with the pharmaceutical substances that are to be injected into the patient’s body. A new report on the global Prefilled Syringes Industry , published by Market Research Future (MRFR), points out that this market could see a rise at 10.20% CAGR between 2016 and 2024. In terms of money value, the market can be worth USD 8397.23 Mn by the end of the forecast period. Key Players:
Market Segmentation:
Regional Segmentation: A geographical outlining of the global prefilled syringes market covers Europe, The Americas (North America & South America), Asia Pacific, and the Middle East & Africa (MEA). Europe has been holding the maximum market share of 41.4% since 2017, and the status quo is expected during the forecast period. In this region, the market is elevating due to the rising geriatric population, demand for quality healthcare, and growing trend of home-based treatment separate with high healthcare expenditure. Due to technological advancement, the presence of some key market players, and the availability of advanced medical facilities, Western Europe is a bigger regional market segment compared to Eastern Europe. The most powerful country-specific markets in Western Europe are France, Germany, Italy, Spain, and the UK. The Americas region is the second-largest regional market as North America anyways holds the potential to emerge as a powerful regional market due to technological advancement, availability of advanced medical facilities, and presence of key market players. USA and Canada generate the maximum market revenue in this region. During the forecast period, the Asia Pacific region can expand rapidly at 10.78% CAGR due to ample prospects and unceasingly developing economies. Japan is an important country-specific market due to the increasing number of private and public hospitals and quick adoption of plastic devices along with modern healthcare developments. Other valuable country-specific markets in this region are Australia, China, India, and South Korea. The MEA has less economic developments and very low per capita income. However, this region can develop as a market in the future as the demand for better medical facilities is here. Latest Industry News
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