Prefilled Syringe for Arthritis Treatment Market
The global prefilled syringe for arthritis treatment market is being driven by the technical developments in auto-injectors and increasing use of prefilled syringes. Because of the benefits they provide, such as greater patient safety and simplicity for healthcare practitioners in dosage preparation and delivery, prefilled syringes are quickly overtaking conventional syringe-vial combinations.
These syringes make chronic conditions like rheumatoid arthritis and diabetes easier to treat, which is predicted to increase the use of pen injectors and auto-injectors. Prefilled syringes refer to medicine storage devices that are sold to patients for the delivery of medication for a specified therapy. These syringes can be utilized for emergency therapy and can offer single-dose medication delivery. The spike in the number of instances of arthritis throughout the world is likely to drive the global prefilled syringe for arthritis treatment market in the years to come. As per a research conducted by Aarhus University in Denmark, the cost of producing one prefilled syringe is expected to be between US$9 and US$10. When it comes to selling prefilled syringes to customers, producers can make a huge profit (well over 20%), which is likely to work in favor of the global prefilled syringe for arthritis treatment market.
Prefilled syringes are devices that are used to store medicines and are sold to patients for the administration of drugs for specific a treatment. They provide single dose administration of drugs and can be used for emergency treatment.
The global prefilled syringe for arthritis treatment market is primarily driven due to a rise in the number of cases of arthritis worldwide. According to a study by the Aaarhus University, Denmark, the approximate manufacturing cost of one prefilled syringe is estimated to be around US$ 9 to US$10. Manufacturers can make a significant profit (more than 20%) when they sell prefilled syringes to end-users. Other advantages of these syringes include less overfill of drugs and lower risk of medication errors.
However, the growth of the global prefilled syringe for arthritis treatment market is restrained by the risk of contamination of disease and stringent regulatory landscape and intellectual property rights laws. Nevertheless, mergers and acquisitions among key players, increase in R&D investment by major companies, and technological progress are estimated to provide the global prefilled syringe for arthritis treatment market an opportunity for expansion during the forecast period.
In terms of product, the global prefilled syringe for arthritis treatment market can be segmented into glass prefilled syringe and plastic prefilled syringe. Based on design, the global prefilled syringe for arthritis treatment market can be classified into single chamber prefilled syringe, dual chamber prefilled syringe, and customized prefilled syringe. In terms of therapeutic category, the global prefilled syringe for arthritis treatment market can be categorized into rheumatoid arthritis, osteoarthritis, psoriatic arthritis and others. Based on end-user, the global prefilled syringe for arthritis treatment market can be divided into hospitals, clinics, and home care settings.
In terms of region, the global prefilled syringe for arthritis treatment market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. According to the Centers for Disease Prevention and Control (CDC), around 22.7% of U.S. adults (about 54.4 million) suffered from some form of arthritis in 2014, whereas the prevalence of arthritis is much higher in females as compared to that in males. On the basis of information published by the Statcan, Canada, the prevalence of arthritis was estimated to 16.5% of the adult population (4.8 million adults) in 2014 in Canada. Moreover, over 120 million people in Europe are affected by some forms of rheumatic and musculoskeletal diseases. Almost one person from every family suffers from rheumatic and musculoskeletal disease in the region. The prefilled syringe for arthritis treatment market in North America and Europe held a major market share in 2017, owing to the significant prevalence of arthritis in North America and Europe, high rate of diagnosis and treatment of arthritis, robust health care infrastructure, and the presence of major players in the regions.
The prefilled syringe for arthritis treatment market in Asia Pacific is anticipated to expand at a rapid CAGR during the forecast period, due to an increase in the geriatric population, rise in cases of arthritis in the region, developing health care infrastructure, technological advancements, and participation of domestic players. The market in Latin America and Middle East & Africa is likely to be hampered by weak health care infrastructure and lower diagnosis and treatment rates of arthritis.
Major players acting in the global prefilled syringe for arthritis treatment market are AbbVie GK, Sanofi and Regeneron Pharmaceuticals, Inc, Bristol-Myers Squibb Company, UCB Group of Companies, Amgen Inc., Janssen Biotech, Inc, Roche, Eli Lilly and Company, and others.
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