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Technavio’s research analyst predicts the global prefilled syringe packaging market to grow at a CAGR of around 12% by 2020. The prefilled syringes are gaining popularity over parenteral drug delivery routes because of their high affordability, accuracy, and safety. Also, the ability of such syringes to reduce drug wastage, increase the useful drug lifespan, and increase the vendor's market footprint will result in the growth of the market.
The augmented use of disposable medical products is the key driver for the growth of this market. Recently, it has been observed that many healthcare facilities prefer using disposable products as it reduces the risk of cross-contamination. This rise in the use of disposable products will lead to the augmented demand for plastics as a packaging material due to its cost-effectiveness when compared to glass and metallic materials.
Though the glass prefilled syringes segment dominates this market in terms of total market shares, the plastic prefilled syringes segment will experience rapid growth during the forecast period. Since these syringes are break resistant and have the ability to protect drugs from moisture, their augmented adoption by healthcare facilities will lead to market growth during the estimated period.
Technavio market research analysts estimate the vaccines packaging segment to account for more than 58% of the total market share by the end of 2020. The ability of prefilled vaccine syringes to meet the needs to healthcare facilities, such as reducing wastage, decreasing the time for drug administration, and reducing the risks of errors and contamination, will foster its adoption for vaccination purposes during the forecast period.
The global prefilled syringe packaging market is fragmented owing to the presence of several multinational, regional, and local vendors. The smaller and local vendors compete with the multinational vendors in terms of cost, as it is difficult for them to compete with international vendors in terms of quality, features, and range of offerings.
The leading vendors in the market are -
The other prominent vendors in the market include Bespak, Bosch Packaging, Catalent, Ciron Groups, Corden Pharma, Health Biotech, MedXL, Novalek Pharmaceuticals, Stevanato Group, Troikaa, Unilife Vetter Pharma, West Pharmaceutical Services, and Ypsomed Holding.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03:
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by materials
PART 07: Market segmentation by application
PART 08: Geographical segmentation
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
PART 16: Explore Technavio
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