The recent surge in technological advances has led to the expansion of the U.S. and EU-5 prefilled syringe small molecule market. Apart from developments in technology, point-of-care administration and changing approach towards the management of diseases and disorders are the key drivers of the market.
By 2024, the U.S. and EU-5 market for prefilled syringes small molecule market is expected to rise up to US$17.1 bn, which in 2015 was US$9.15 bn. The market is currently growing at the rate of 6.0% to 8.0% between the years 2016 and 2024.
New Drug Class to Boost Market Further
The initiation of a new drug class into the market appears to be opening up avenues for greater profit. The recent U.S. FDA approved Sandoz’s Glatopa has broadened the neurological small molecule prefilled syringe market. These drugs are known as biological products and necessitate higher levels of investments in research and developmental activities. It is expected that the global market will face obstacles due to increased monetary risks, together with the question of stability.
Absence of Generic Drugs to be Beneficial
A major 44.0% share was attributed to the neurology drugs segment in the prefilled syringe small molecule market. This segment is expected to continue to lead the entire market because generic drugs remain unavailable. Copaxone is a leading brand in this segment.
It has been found that in 2015, the cardiovascular small molecule prefilled syringe segment held around 26.91% of the total market in the U.S. and EU-5. Preference adjuvant small molecules in prefilled syringes, such as normal saline for flush and dextrose, claimed 7.16% of the market. It is believed that the need for cardiovascular and neurological small molecule prefilled syringes will continue to be high due to repetitive medical emergencies. In 2015, this segment accounted for US$655.4 mn of the total revenue.
The key players in the field are Mylan N.V., Fresenius kabi, Teva Pharmaceutical Industries Ltd., Hospira, Inc. (Now Pfizer, Inc.), and Becton, and Dickinson and Company.