How is Rising Prevalence of Chronic Diseases Driving Prefilled Syringes Market?

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Growing Chronic Disease Prevalence To Take
Prefilled Syringes Market to 3,646.7 Million by
2030
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Around the world, 463 million adults had diabetes
in 2019, and by 2045, this number is expected to
rise to 700 million, as per the International
Diabetes Federation (IDF). Similarly, the
incidence of cancer, chronic obstructive
pulmonary disease (COPD), asthma, and heart
diseases, is rising. This factor will likely
propel the global prefilled syringes market from
1,914.1 million in 2020 to 3,646.7 million by
2030, at a 6.8 CAGR between 2021 and 2030. Such
diseases require a regular administration of
drugs, for which prefilled syringes are
increasingly being used. In this regard, the
rising usage of injectable pharmaceutical drugs
is also driving the prefilled syringes market
growth, since parenteral administration is one of
the quickest ways of getting the drug to the
target area inside the body. Prefilled syringes
minimize drug wastage and the infection risk,
thus proving beneficial for the patient, as well
as the caregiver. Get the Sample Copy of this
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Though the manufacturing of prefilled syringes
and drugs was impacted in the first and second
quarters of 2020 owing to the COVID-induced
lockdowns, the pharmaceutical industry witnessed
a boom from the third quarter onwards. The rising
demand for medical drugs for COVID patients and
the increasing volume of injections are now
impacting the prefilled syringes market
positively during the pandemic. Prefilled
Syringes Market Segmentation Analysis The glass
bifurcation will continue dominating the
prefilled syringes market in the coming years,
based on material type. Due to its inert nature,
glass does not react with the drug contained in
the syringe. In the years to come, the highest
CAGR in the prefilled syringes market, of 7.1,
under the design segment will be witnessed by the
single chamber category. Single-chamber syringes
have certain advantages over traditional vials,
and they are available in a broad range.
Additionally, the raw materials used to
manufacture them are cost-effective.
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The diabetes category held the largest share in
the prefilled syringes market in the past, on the
basis of application. During 20002016, the
premature mortality rate attributed to this
chronic disease rose by 5, as per the World
Health Organization (WHO). Moreover, in 2019,
diabetes was directly responsible for 1.5 million
deaths. As this disease requires frequent
administration of supplemental insulin, often
multiple times a day, the demand for prefilled
syringes among diabetics continues to be
high. Till now, Europe has contributed the
highest revenue to the prefilled syringes market
on account of the rising adoption of safe
injection devices, existence of numerous industry
players, increasing incidence of
lifestyle-associated and chronic diseases, and
high healthcare spending. Cancer and
cardiovascular diseases (CVDs) are the largest
killers in the region, as per Our World in
Data. Asia-Pacific (APAC) is projected to grow
the fastest in the prefilled syringes market
during this decade. The vast population of the
region is increasingly suffering from chronic
diseases, which is the healthcare expenditure in
the region is skyrocketing. The rising prevalence
of chronic diseases is, in part, attributable to
the surging number of the elderly in regional
countries. Make enquiry about this report at _at_
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