A new research report, titled “Global Dual Chamber Prefilled Syringes Market Size study, by Material (Glass and Plastic), Indication (Hemophilia, Schizophrenia, Endometriosis, Erectile Dysfunction, and Diabetes), Application (Liquid/Powder, Liquid/Liquid) and Regional Forecasts 2020-2027,” is recently added to the repository of Report Ocean. According to this study, the global dual chamber prefilled syringes market stood at around US$121 bn in 2019. It is anticipated to rise at a healthy CAGR of more than 7.20% during the forecast period of 2020-2027.
The worldwide dual chamber prefilled syringes market is mainly driven by the upgradation and expansion in the biopharmaceutical industry. Developed manufacturing processes and technological advancements in injectors to improve arrangement of liquid components are boosting this market significantly.
The key trend observed in this market is the rising uptake of ready-to-use elastomeric syringe components among drugmakers. Syringe manufacturers are expected to gain significantly from this trend in the near future. On the other hand, the risk of cross contamination may impede the growth trajectory of the market over the forecast period. However, tremendous research for developing cost-efficient separable dual chamber syringes, presents lucrative opportunities for the near future.
Companies Focusing on Increasing Production Capacity and Upgrade Existing Products
The business landscape in the global dual chamber prefilled syringes market is highly competitive. Key players, such as Bristol-Myers Squibb, Gerresheimer, Pfizer, AstraZeneca, and Novartis are focusing more on increasing production capacity and technological advancements in their existing products. For instance, in 2019, Gerresheimer made an announcement regarding the establishment of a new plant in North Macedonia. The company plans to manufacture plastic prefilled syringes at the new plant. With this step, the company is aiming to reduce the production cost.
Presence of Established Healthcare and Pharma Industries Boosts North America Market
The report also offers a regional assessment of the global dual chamber prefilled syringes market. As per the study, North America has established itself as the key regional market for dual chamber prefilled syringes, thanks to the presence of well-established healthcare and pharmaceutical industries. The rapid uptake of new technologies and devices is also aiding to its growth. Among other regional markets, Asia Pacific is exhibiting a high growth rate. “Due to the rising disposable income of consumers, which has enabled them to afford expensive treatments and medical devices, this regional market is displaying immense potential for future growth,” says an analyst at Report Ocean.
Impact of Covid 19 on Global Dual Chamber Prefilled Syringes Market
The Coronavirus pandemic has directly or indirectly impacted a number of industries. While the global dual chamber prefilled syringes market has not received a direct hit, the disruption of supply chain mechanism has certainly disturbed the distribution channels of these syringes at present. The first two quarters of 2020 looked dull, in terms of business. However, with the markets beginning to open up again and supply chain systems being restored, the market for dual chamber prefilled syringes will gain its pace back shortly.
- By materials, the glass segment is leading the global market and is expected to remain doing so over the forecast period.
- In terms of indication, hemophilia has been holding the top position in this market due to the increasing count of hemophilia patients in Europe and North America.
- Thanks to the presence of well-established healthcare and pharmaceutical industries, North America has emerged as the dominant regional market.
The global dual chamber prefilled syringes market is segmented into:
- Erectile Dysfunction
- North America
- Latin America
- Asia Pacific
- Rest of the World
Companies Mentioned in the Report
- Nipro Corp.
- Gerresheimer AG
- Vetter Pharma
- Credence Medsystems
- Arte Corp.
- Pfizer Inc.
- AstraZeneca Plc.
- Maeda Industry Co. Ltd.
- Bristol-Myers Squibb Company
- Novartis AG
READ FULL REPORT @ https://reportocean.com/industry-verticals/sample-request?report_id=bw1487
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