Safety Prefilled Syringe System Market Forecast 2023 - 2030

By Product Type :

The product type segment is categorized into disposable prefilled syringes and reusable prefilled syringes and is projected to be the fastest-growing segment during the forecast period. In 2022, the disposable prefilled syringes segment accounted for the highest market share in the safety prefilled syringe system market. The disposable prefilled syringe is an ideal option for medical personnel to reduce the risk associated with the spreading of blood-borne diseases. In addition, the major benefits of a disposable prefilled syringe include minimizing the risk of infection, eliminating cleaning or sharpening, ensuring mass production, cost-effectiveness, being safer for the environment, and others. The international players dealing in disposable prefilled syringes products are expanding their product offerings in various countries. For instance, in October 2021, West Pharmaceutical Services, a supplier of syringe products in India introduced NovaGuard SA Pro Safety System. The single-use accessory is a prefilled ISO standard 0.5mL staked needle syringe. This product is a disposable prefilled syringe. Thus, the expansion of disposable prefilled syringe product offerings in the international market will foster the revenue growth of the safety prefilled syringe system industry during the forecast period.

By Application :

The application segment is categorized into anaphylaxis, rheumatoid arthritis, diabetes, and others. In 2022, the diabetes segment accounted for the highest market share of 31.02% in the overall safety prefilled syringe system market. The safety prefilled syringe system is frequently deployed in the treatment of diabetes to ensure ease of administration. The safety prefilled syringe system results in added convenience for healthcare personnel and patients suffering from diabetes as the syringes ensure easier self-administration and use during emergencies. Likewise, the benefits of a safety prefilled syringe system include lower costs due to fewer materials, less preparation, and easy storage & disposal. For instance, according to the recent statistics published by the International Diabetes Federation (IDF), approximately 537 million people at the global level were suffering from diabetes in 2021. Furthermore, it is projected that the prevalence of diabetes will reach 643 million in 2030 and 783 million in 2045, respectively. Therefore, the rising prevalence of diabetes is fostering the demand for safety prefilled syringe systems to reduce medical errors and misidentification, thereby driving segmental growth.

However, the anaphylaxis segment is expected to be the fastest-growing segment during the forecast period because of the development of new anaphylaxis healthcare facilities, increasing research & development, and others.

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By Region :

The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

In 2022, Europe accounted for the highest market share at 35.50% and was valued at USD 2,318.80 million, and is expected to reach USD 5,415.45 million in 2030. In Europe, Germany accounted for the highest market share of 22.36% during the base year of 2022. The rise in diabetes cases in the European region is attributed to factors such as overweight, age-related concerns, genetics, and others. Increasing diabetes cases in Europe are fueling the demand for safety prefilled syringe systems to reduce dosage errors. For instance, according to the recent statistics published by the International Diabetes Federation (IDF), in 2021, approximately 61 million in the European region were suffering from diabetes, which was 9.2% of the total European population. Moreover, USD 189.3 billion was spent on the treatment of diabetes in the European region, which was 19.6% of the total spending at the global level. Also, the number of people suffering from diabetes in the European region will reach 67 million in 2030 and 69 million in 2024. Henceforth, the rising prevalence of diabetes cases in the Europe region is fostering market growth.

Furthermore, Asia Pacific is expected to witness significant growth over the forecast period, growing at a CAGR of 12.2% during 2023-20230. This is due to the increasing adoption of safety prefilled syringe systems in various applications such as anaphylaxis, rheumatoid arthritis, diabetes, and others.