The Single Dose Prefilled Cartridges Market is expected to grow by leaps and bounds in the forecast period. Nanotechnology’s medical application is on the anvil. As such, nanomedicine is an outcome of the technology operating at the molecular, atomic, or supramolecular scale. The broad application areas of nanomedicine include sensing, imaging, diagnosis, and delivery via medical devices. This would certainly keep the healthcare vertical upgraded continuously.
This has benefited the healthcare professionals in enabling accurate dose, pre-measured dose, decrease in misidentification, reduction in risk of microbial contamination, and lower the medical errors during drug administration. In addition, the prefilled cartridges provide patient safety by reducing the incidences of inadvertent needle sticks and exposure to toxic products during drawing of medications from vials.
According to the World Health Organization Repot 2002, around 35 million healthcare workers experience percutaneous exposure incidences to infectious diseases every year due to needle stick injuries. The prefilled cartridges benefit the pharmaceutical companies owing to the minimizing drug waste, less need of overfilling and increasing product life span of the medication.
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In addition, the single dose prefilled cartridges mostly do not require preservatives which decreases the cost of the medication. These factors are increasing the popularity of single-dose prefilled cartridges, thereby driving the single-dose prefilled cartridges market. Moreover, the ease of self-administration of medication at home have increased the demand of prefilled cartridges among the patients.
The increase in chronic diseases such as diabetes, osteoarthritis, anemia, chronic pain and others fuel the market growth. According to Centers for Disease Control and Prevention (CDC), 2017, osteoarthritis affects around 30 million people in the U.S. In addition, the rise in geriatric population that are prone to various diseases intake multiple medication; which have fuel the single dose prefilled cartridges market.
However, the availability of substitutes such as prefilled syringes, auto-injectors and pen injectors hinder the market growth. In addition, the pharmaceutical companies have to comply with the stringent needle stick injuries rules and regulations, which is anticipated to hinder the market growth.
The ongoing research and development associated with the single-dose prefilled cartridges and increasing awareness of prefilled cartridges in undeveloped countries is anticipated to create new opportunities during the forecast period.
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The global single-dose prefilled cartridges market is segmented on the basis of product type, application, and end user.
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The global single-dose prefilled cartridges market is expected to register a significant CAGR over a forecast period. The increasing demand for single-dose prefilled cartridges owing to their advantages such as convenience, affordability, ease of use, accuracy, sterility and safety is anticipated to fuel the global Single-dose prefilled cartridges market.
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The increase in diseases and disorder and need of diagnosis and treatment is anticipated to drive the market growth. Furthermore, elimination of need of doctors and healthcare professionals in drug administration have escalated to adoption of prefilled cartridges, globally. The increasing adoption of single-dose prefilled cartridges among lower income groups from the developing regions such as Asia Pacific, is anticipated to propel the demand of the single-dose prefilled cartridges market.
However, the stringent government regulations associated with the needle stick injuries and no availability of prefilled cartridge with integrated safety features is anticipated to hamper the market growth. Furthermore, the increasing popularity of substitutes such as auto-injectors are hindering the single-dose prefilled cartridge market growth.
On the basis of regional presence, the global single-dose prefilled cartridges market is segmented into five key regions: North America, Latin America, Europe, Asia-Pacific, and Middle East & Africa.
The Europe is contributing the significant shares to the global single-dose prefilled cartridges market in terms of revenue and expected to register a significant growth over a forecast period due to developed medical infrastructure along with the large patient pool in the region.
Asia Pacific also contributes lucrative market for single-dose prefilled cartridges devices and anticipated to register significant shares over the forecast period due to the increasing adoption of advanced single-dose prefilled cartridges devices and developing medical infrastructure in the region. The Latin America and MEA are at a nascent stage to the global single-dose prefilled cartridges market and expected to show a moderate growth over a forecast period due to increasing medical facilities in the region.
Some key companies covered in this report include Amgen Inc., Teva Pharmaceutical Industries Ltd., AstraZeneca plc ., Mylan N.V., Pfizer, Inc., Fresenius Kabi AG, Novartis AG, Sanofi, Merck & Co. Inc. and others. The global Single-dose prefilled cartridges market is currently witnessing a number of strategic collaboration and partnership activities by manufacturers and end users.
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