At 10.4% CAGR, Europe Prefilled Syringe Market is Projected to be Worth US$ 4,388.29 Million by 2030, Says Business Market Insights

According to Business Market Insights' research, the Europe prefilled syringe market was valued at US$ 1,992.22 million in 2022 and is expected to reach US$ 4,388.29 million by 2030, registering a CAGR of 10.4% from 2022 to 2030. Strategic initiatives by market players and growing adoption of self-injecting parenteral devices are among the critical factors attributed to the Europe prefilled syringe market expansion.

Various market players focus on product launches or strategic collaborations for the development of advanced products that help in the treatment of chronic disorders with ease. There have been various recent developments, such as product launches, mergers, and acquisitions in recent years. A few of them are mentioned below:

• In April 2023, Delta Med Group partnered with DBM, a leading manufacturer of prefilled syringes. Delta Med Group and DBM will expand their portfolio, profiting from highly complementary products and R&D capabilities, improving their ability to serve customers. The partnership will generate significant synergies and boost the growth trajectory of the combined entity.
• In Europe, regulatory approval has been granted for UniSafe 1 ml, and the product is commercially available as a combination product with a drug for treating rheumatoid arthritis.
• In March 2021, SK bioscience launched a new shingles vaccine called ´SKYZoster® Ini.' The newly introduced prefilled syringe type SKYZoster can be administered more conveniently than the current intramuscular injection type in which water for injection and freeze-dried vaccine are mixed and then transferred back into the syringe.

Thus, a surge in product launches and strategic collaborations is likely to create considerable growth opportunities for the prefilled syringes market in the future.

On the contrary, increasing product recalls hampers the growth of Europe prefilled syringe market.

Based on type, the Europe prefilled syringe market is bifurcated into disposable prefilled syringes and reusable prefilled syringes. The disposable prefilled syringes segment held 73.0% share of the Europe prefilled syringe market in 2022, amassing US$ 1,453.44 million. It is projected to garner US$ 3,271.73 million by 2030 to expand at 10.7% CAGR during 2022-2030.

Based on material, the Europe prefilled syringe market is bifurcated into glass prefilled syringes and plastic prefilled syringes. The glass prefilled syringes segment held 58.7% share of the Europe prefilled syringe market in 2022, amassing US$ 1,169.98 million. It is projected to garner US$ 2,529.47 million by 2030 to expand at 10.1% CAGR during 2022-2030.

Based on designs, the Europe prefilled syringe market is bifurcated into single chamber and multi chamber. The single chamber segment held 67.4% share of the Europe prefilled syringe market in 2022, amassing US$ 1,343.56 million. It is projected to garner US$ 2,748.01 million by 2030 to expand at 9.4% CAGR during 2022-2030.

In terms of application, the Europe prefilled syringe market is segmented into cancer, diabetes, autoimmune disease, infectious diseases, and others. The others segment held 29.9% share of the Europe prefilled syringe market in 2022, amassing US$ 595.33 million. It is projected to garner US$ 1,255.18 million by 2030 to expand at 9.8% CAGR during 2022-2030.

By distribution channel, the Europe prefilled syringe market is segmented into hospital pharmacy, retail pharmacy, and online channel. The hospital pharmacy segment held 55.7% share of Europe prefilled syringe market in 2022, amassing US$ 1,110.09 million. It is projected to garner US$ 2,530.46 million by 2030 to expand at 10.8% CAGR during 2022-2030.

Based on country, the Europe prefilled syringe market is categorized into Germany, the UK, France, Italy, Spain, and the Rest of Europe. Germany held 29.2% share of Europe prefilled syringe market in 2022, amassing US$ 581.89 million. It is projected to garner US$ 1,360.81 million by 2030 to expand at 11.2% CAGR during 2022-2030.

Key players operating in the Europe prefilled syringe market are B Braun SE, Baxter International Inc, Becton Dickinson and Co, Delta Med SPA, Gerresheimer AG, Nipro Corp, Schott AG, Shandong Weigao Group Medical Polymer Co Ltd, Terumo Corp, and Ypsomed Holding AG, among others.

• In Jan 2020, Gerresheimer expanded its range of pre-fillable polymer syringes. The company launched the Gx RTF ClearJect polymer needle syringe, 2.25 ml.
  
  
• In May 2023, BD increased customer access to an all-in-one prefilled flush syringe with an integrated disinfection unit meant to reinforce infection prevention principles and streamline nurse workflow. The BD PosiFlush SafeScrub is a prefilled saline flush syringe with an active disinfection unit incorporated straight into the tip cap that has been shown in vitro to drastically minimise bacteria growth associated with CRBSIs.

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