Adoption of Prefillable Syringes Rising, Especially In High-cost Drug Applications to Contain Wastage, Notes Frost & Sullivan

Informations

• Publié par: frost-sullivan
• Nombre de lectures: 7
• Langue: English

Extrait

Adoption of Prefillable Syringes Rising, Especially In High-cost Drug Applications to Contain Wastage, Notes Frost & Sullivan

PR Newswire LONDON, July 25, 2012

-Growing demand for safety features, coupled with growing market for self-injection is fuelling demand for PFS LONDON,July 25, 2012/PRNewswire/ -- The prefillable syringes (PFS) market in Europeis growing due to the convenience, efficiency, and safety PFS offers. There is an increasing use of PFS in high-cost drug applications as well, in order to contain wastage. Most of theEurope-based PFS manufacturers have either expanded their capacity or are planning further capacity expansion in the next two or three years. For now, the market is dominated by Becton, Dickinson and Company (BD), which accounts for a market share of approximately 70 per cent. New analysis from Frost & Sullivan (http://www.pharma.frost.com),Analysis of the European Prefillable Syringes Market, finds that the total European demand for glass prefillable syringes for all therapeutic applications combined was roughly 1.63 billion units in 2011. The demand for PFS is expected to grow to approximately 3.62 billion units by 2018 inEuropeat a CAGR of 10.3 per cent. "The major growth drivers for PFS are factors such as convenience for healthcare professionals and patients, enhanced product differentiation, lower overfill which helps reduce costs and maximise yield, reduced risk of dosage error and contamination," noted Frost & Sullivan Program Manager Ranjith Gopinathan. "Moreover, increasing use of biologics as a therapy for various disease indications has bolstered the growth of parenteral delivery." There is considerable demand for syringes with safety features. Safety syringes like the Luer lock or syringes with additional safety features are gaining favourable opinion among policy makers and healthcare providers inEurope. Conversion to devices with safety features would drive demand growth for PFS. However, cost is a major restraining factor for PFS demand. Cost of prefillable syringes is higher when compared to other delivery routes such as vials and ampoules. Moreover, safety-enabled syringes like Luer lock and those with proprietary safety features have premium pricing. Nevertheless, the strong growth in the self-injection market, preference for added safety features and the growing market for seasonal influenza vaccines, pitch a strong case for PFS demand. Furthermore, new regulatory norms require drugs with shelf life of more than two years, to be in glass PFS. "Overall, PFS with customised dimensions, competitive pricing, product innovation with focus on safety features and timely delivery would be key success factors for market participants," summarises Gopinathan. If you are interested in more information on this study, please send an e-mail with your contact details to Janique Morvan, Corporate Communications, at [e-mail]. Analysis of the European Prefillable Syringes Marketis part of theLife