Self-Injection Fueling Growth of Small Molecule Prefilled Syringes Market

 

The global Small Molecule Prefilled Syringes Market is estimated to be valued at US$ 18.98 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Small molecule prefilled syringes are comprised of syringes prefilled with small drugs molecules such as antibiotics, vaccines, peptides and hormones. The prefilled syringes offer several advantages over conventional vials such as precise dosing, reduced risk of contamination and elimination of reconstitution step. These advantages drive the demand of small molecule prefilled syringes in therapeutic areas of infectious diseases, metabolic disorders, autoimmune diseases and others.

Market key trends:
One of the key trends in small molecule prefilled syringes market is shift towards self-administration of drugs. Many biologics and small molecule drugs are now available in prefilled syringe format suitable for self-injection. The prefilled syringes enable patients to conveniently self-administer drugs of chronic conditions like diabetes, rheumatoid arthritis and hormonal therapies at home or on-the-go. This has significantly reduced patient visits to healthcare facilities and burden on healthcare systems. Furthermore, self-administration improves treatment compliance and patient engagement in disease management.
Segment Analysis
The global small molecule prefilled syringes market is segmented by drug class, application, distribution channel, and end user. By drug class, monoclonal antibodies held the largest share in 2022 owing to increasing usage monoclonal antibodies for treatment of cancer and other autoimmune disorders. By application, cancer segment dominated the market due to high prevalence of cancer and usage of monoclonal antibodies and immunomodulating agents for cancer treatment. By distribution channel, hospital pharmacies segment accounted for largest revenue share owing to growing outpatient chemotherapy visits in hospitals. By end user, hospitals segment held the highest share due to increasing number of chemotherapy visits and availability of skilled medical professionals in hospitals.

Key Takeaways
The global small molecule prefilled syringes market is expected to witness high growth, exhibiting CAGR of 5.2% over the forecast period, due to increasing prevalence of chronic diseases and growing adoption of self-injection devices.

Regional analysis: North America dominated the market in 2022 and is expected to continue its dominance over the forecast period. This is attributed to increasing healthcare expenditure, rising prevalence of chronic diseases, and growing adoption of self-administered drug delivery devices in the region. Asia Pacific is expected to grow at the fastest CAGR owing to rising geriatric population, increasing healthcare awareness, and improving healthcare infrastructure in developing countries like India and China.

Key players: Key players operating in the small molecule prefilled syringes market are BD, Cytiva, Merck KGaA, Gaplast, Ascendia Pharmaceuticals, Sanofi, Viatris Inc. (Mylan N.V.), Pfizer Inc., Dr. Reddyâ€TMs Laboratories Ltd., Fresenius Kabi AG and McKesson Corporation.