Pre-Filled Saline Syringes Market Global Analysis and Forecasts to 2027 – BD, Cardinal Health, MedXL Inc., Guerbet Group, Sterisets Medical Products, DBM, B. Braun Medical Inc., Wolf Medical Inc., Aquabiliti and Baxter Healthcare Corporation
According to a new market research study titled ‘Pre-filled Saline Syringes Market – Global Analysis and Forecasts by Type, End User, and Geography.’ The Global Pre-Filled Saline Syringes Market is expected to reach US$ 744.4 Mn in 2027 from US$ 402.5 Mn in 2018. The market is estimated to grow with a CAGR of 7.2% from 2019-2027. The report highlights the trends prevalent in the global pre-filled saline syringes market and the factors driving the market along with those that act as deterrents to its growth.
Key factors driving the market are increasing medication errors, risk of cross-contamination in multi-dose vials, increase in, and self-injectable medicines to avoid visits to hospitals. However, factors such as frequent product recall and stringent regulatory requirements can restrict market growth.
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The prominent players operating in the market are, BD, Cardinal Health, MedXL Inc., Guerbet Group, Sterisets Medical Products, DBM, B. Braun Medical Inc., Wolf Medical Inc., Aquabiliti and Baxter Healthcare Corporation. The market players are focused on bringing new and innovative products to sustain their position in the market. For instance, in September 20118, MedXL expanded the business by registering its products of pre-filled saline syringes in Singapore.
Rising prevalence of chronic diseases is driving the market for Pre-filled Saline Syringes over the forecast period.
Global pre-filled saline syringes market, based on the type was segmented into 3ml Syringes, 5ml Syringes, 10ml Syringes, and Others. In 2018, the 3 ml Syringes segment held the largest share of the market, by type. This segment is also expected to dominate the market in 2027 owing to high demand for hospital disposables, ease of use, easy availability, and the growing number of multispecialty hospitals. Moreover, the 3 ml syringe segment is anticipated to witness the significant growth rate of 7.8% during the forecast period owing to the factors such as the rising prevalence of chronic diseases and hospital acquired diseases that trigger increased utilization of pre-filled saline syringes which helps to avoid the cross medication.
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Strategic acquisition and product launches were observed as the most adopted strategy in global pre-filled saline syringes industry. Few of the recent product launch, product approval and acquisitions are listed below:
November 2017: MedXL Inc. received 510 (k) FDA approval for Praxiject Prefilled syringes.
May 2016: Cardinal Health received 510 (k) FDA approval for Monoject Prefill I.V. Flush Syringes.
April 2016: Becton Dickinson to shutter Creedmoor, N.C. plant, which manufactures PosiFlush syringes and safety components, to lay off 120.
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