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NEW YORK, May 6, 2021 /PRNewswire/ -- Around the world, 463 million adults had diabetes in 2019, and by 2045, this number is expected to rise to 700 million, as per the International Diabetes Federation (IDF). Similarly, the incidence of cancer, chronic obstructive pulmonary disease (COPD), asthma, and heart diseases, is rising. This factor will likely propel the global market for prefilled syringes from $1,914.1 million in 2020 to $3,646.7 million by 2030, at a 6.8% CAGR between 2021 and 2030, according to P&S Intelligence.
Such diseases require a regular administration of drugs, for which prefilled syringes are increasingly being used. In this regard, the rising usage of injectable pharmaceutical drugs is also driving the prefilled syringes market growth, since parenteral administration is one of the quickest ways of getting the drug to the target area inside the body. Prefilled syringes minimize drug wastage and the infection risk, thus proving beneficial for the patient, as well as the caregiver.