Prefilled Syringe Small Molecule Market - Forecast(2024 - 2030)

Prefilled Syringe Small Molecule Market Segment Analysis-By Drug Class

The Prefilled Syringe Small Molecule Market based on the drug class can be further segmented into Neurology Drugs, Cardiovascular drugs, Analgesics, and Others. The analgesics segment held the largest share in 2021. The growth is owing to heavy demand because of intensifying acute illnesses. Analgesics are extensively used for their painkilling properties. These drugs may help confer relief from headaches and arthritis complications. Anti-inflammatory analgesics curtail the tenderness; whereas, opioid analgesics alter the brain’s pain perceiving capacity. Therefore, considering the enlarging incidences of joint disorders, inflammation, stress, and depression, the overall demand for analgesics has witnessed an unparalleled surge. Nevertheless, analgesics along with the cardiovascular drug segment is estimated to be the fastest-growing with a CAGR of 10.4% over the forecast period 2022-2027. This growth is owing to augmenting burden of cardiovascular diseases. Heart attack has become a leading cause of death around the globe. As a result, the overall demand for cardiovascular drugs is sky-rocketing.

Prefilled Syringe Small Molecule Market Segment Analysis-By Distribution Channel

The Prefilled Syringe Small Molecule Market based on distribution channels can be further segmented into Offline (Hospital Pharmacies, Drug Stores, and Retail pharmacies) and Online Platforms. The offline segment held the largest share in 2021. Unlike online platforms, hospitals pharmacies and retail pharmacies have an across-the-board presence in both developed and underdeveloped areas. There is no doubt about it that online pharmacies offer a quicker and hassle-free way to get medicines but rudimentary infrastructure in rural areas doesn’t provide them with a conducive environment to execute their operations. Furthermore, the online segment is estimated to be the fastest-growing segment with a CAGR of 10.8% over the forecast period 2022-2027. This growth is owing to the rising migration of people from the countryside to cities, rapid digitalization, improving economic affluence of many developing countries, growing tech-friendly population, technological breakthroughs like Google Maps, and digital payment systems.

Prefilled Syringe Small Molecule Market Segment Analysis-By Geography

The Prefilled Syringe Small Molecule Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held the largest share with 36% of the overall market in 2021. The growth in this segment is owing to the factors such as well-established infrastructure which offers a conducive environment for both online and offline pharmacies to extend their services easily. Moreover, the presence of prominent pharmaceutical players like Pfizer and McKesson has its fair share in the growth of prefilled syringe small molecule market in the said segment. In addition to that, better awareness regarding the health and existence of such products has propelled the demand. However, Asia-Pacific is expected to be the fastest-growing segment over the forecast period 2022-2027. This growth is owing to a gigantic population and high infection rates because of unhygienic practices. Nevertheless, bettering infrastructure as governments are ensuring a constant flow of riches. Last but not least, growing living standards are changing peoples’ careless attitude toward health which has been a prominent factor aiding the market growth.

Prefilled Syringe Small Molecule Market Drivers

Over the past decade, the pervasiveness of cardiovascular diseases such as cardiac arrest, coronary artery disease, and high blood pressure has witnessed a surge of over 17 percent. The incidences of death because of heart attack are relatively high in countries with a decidedly obese population such as the US. According to a report, every year heart attack claims the lives of nearly 659,000 Americans. In addition to that, the spiraling elderly population has spiked the incidences of arthritis. Over 350 million people across the globe were suffering from arthritis in 2021. The problem is likely to spike as the old-age population is anticipated to reach 2 billion before long. In addition to that, growing stress and depression problems because of eventful lifestyles of people have their fair share in abetting the market growth.

As the living standards of people are increasing, rather than being reactive people are becoming more proactive. Nowadays, many households maintain a proper stock of generic medicines like analgesics and other drugs which might help them in case of emergency. In addition to that, the self-administrable nature of prefilled syringes has drawn the eyes of millions across the globe. Thereby, proliferating demand for ready-to-use and self-administrable prefilled syringes has emerged as a key driver for market growth. Besides, ameliorating infrastructure in developing countries, tech-friendly population, and rapid digitalization have propelled the market. For instance, China and India are home to most smartphone users in the world. China had over 900 million; whereas, India had over 420 million users in 2021. The number is likely to escalate and supplement the market growth.

Prefilled Syringe Small Molecule Market Challenges

Precautionary lockdown enforced by the government authorities of different countries around the globe to curve the virus spread has had a staggering negative effect on prefilled syringe small molecule market growth. Owing to the pandemic many employees were forced to leave their job or fired by the company; consequently, a lower workforce has hampered the production activities. Nevertheless, the shortage of raw materials had put companies’ operations on halt. In addition to that, because of job loss, many people have cut down their discretionary spending. According to a report by Deloitte, in 2020 personal saving rates doubled and reached 14.2% as compared to 2019.

Prefilled Syringe Small Molecule Industry Outlook:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the aforementioned Market. Prefilled Syringe Small Molecule top 10 companies include:

1. Sanofi S.A.
2. Mylan N.V
3. Teva Pharmaceuticals
4. Sun Pharmaceuticals
5. Pfizer Inc.
6. Dr. Reddy’s laboratories
7. AstraZeneca plc
8. F. Hoffmann-La Roche AG
9. McKesson Corporation
10. Fresenius Kabi

Recent Developments

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