The top three players, viz Teva Pharmaceutical Industries Ltd., Mylan N.V., and Sanofi, accounted for 70% of the U.S. and EU-5 prefilled syringe small molecule market in 2015, states a new report by Transparency Market Research (TMR). These players have led in the market from a long period of time. The business strategy which has proved to be profitable for these companies is consistent research and development, thus enabling product innovation. Significant investments are thus being made towards R&D, which have resulted in the development of large molecules and product pipeline. This is giving players in the market a competitive edge above the rest.
According to the research report, the market opportunity in the U.S. and EU-5 prefilled syringe small molecule market is expected to be worth US$17.1 bn by the end of 2024 after being worth US$9.15 bn back in 2015. TMR analysts have estimated that this market will progress at a CAGR of 6.0 % to 8.0 % in the period from 2016 to 2024. By therapeutic class, the market is expected to be led by neurology drugs segment, which accounted for a whopping 44% of the market in 2015 and is expected to continue to hold a significant share of the market over the coming years. The segment’s growth can be attributed to the availability of several generic drugs. As per TMR analysts, Copaxone is the most popular brand in the neurology drugs segment. By 2024, it is expected that the neurology drugs sales will cross 40.3 mn units, with the U.S. holding 68.3% of the market.
Ability to Deliver Injectable Drugs at Home To Drive Prefilled Syringe Small Molecule Market
Technological innovations have brought about new device functions and also new materials for prefilled syringes. In fact, technological advancements is the key to the growth of the U.S. and EU-5 prefilled syringe small molecule market at a remarkable pace. Players are planning to launch cyclo-olefin-polymer (COP) syringes, which have low silicone, tungsten, and extremely low particles value, can be used for biopharmaceuticals. This is expected to drive the market in the coming years. Similarly plastic syringes with COPs are being designed by manufacturers, enabling the syringes to have the benefits of both plastic and COP. In other words, these syringes are expected to possess low off-gas and leachable content and also have ultra-high purity polymer. This is proving to be better than glass syringes and is boosting the growth of the U.S. and EU-5 prefilled syringe small molecule market.
The demand for prefilled syringe small molecule is anticipated to grow in the U.S. and EU-5 markets on account of their ability to deliver injectable drugs at home with ease. The use of prefilled syringes is cost-effective for patients as they completely eradicate the need for trained hospital and medical staff, thus pushing the demand further. Another factor driving the adoption rates of these syringes is the ability to see vials, which has made them useful for managing kidney diseases, diabetes, and rheumatoid arthritis.
Inaccuracy of Dosage to Deter Adoption of Prefilled Syringe Small Molecule Market
The prefilled syringe small molecule market in the U.S. and EU-5 are facing a few challenges, which need to be resolved. The inclination towards large molecules biologics is expected to threaten the demand for prefilled syringes for small molecules. Another factor which poses a threat to the market is the increasing concern regarding inaccuracy of dosage and product quality. This has caused product recalls in the past and can continue to do so, restraining the growth of the market. Due to all these concerns, many healthcare professionals are making use of other formulations to treat patients, reducing the demand for prefilled syringes for small molecules.
The information presented in this review is based on a Transparency Market Research report, titled, “Prefilled Syringe Small Molecule Market (Therapeutic Class - Neurology Drug, Cardiovascular Drugs, Analgesics, and Adjuvants) - U.S. and EU-5 Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
U.S. and EU-5 Prefilled Syringe Small Molecule Market, by Therapeutic Class
- Glatiramer Acetate
- Cardiovascular Drugs
- Atropine Sulfate
- Verapamil Hydrochloride
- Enoxaparin sodium
- Fondaparinux Sodium
- Nadroparin Calcium
- ketorolac Tromethamine
- Morphine Sulphate
- Dexamethasone Na Po4
- Hydromorphone Hydrochloride
- Water for Injection
- NaCl 0.9%/Saline
- Sodium Hyaluronate
- 25% Dextrose
- Lidocaine Hydrochloride
- Fibrin Sealant
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