Global Fill Finish Manufacturing Market to Grow with a CAGR of 10.70% During 2022-2031; Market to Grow on the Back of Increasing Advancement in Drug Delivery Systems
Kenneth Research published a report titled “Fill Finish Manufacturing Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global fill finish manufacturing market in terms of market segmentation by design, usability type, packaging type, application, combination products, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global fill finish manufacturing market is anticipated to grow with a CAGR of 10.70% over the forecast period, i.e., 2022 – 2031. The market is segmented by design into single-chamber prefilled syringes, dual-chamber prefilled syringes, and customized prefilled syringes, out of which, the single-chamber prefilled syringes segment is anticipated to generate the largest revenue of USD 11233.1 Million by the end of 2031. Moreover, in the year 2021, the segment generated a revenue of USD 4142.3 Million.
The global fill finish manufacturing market is estimated to garner a revenue of USD 15828.8 Million by the end of 2031, up from a revenue of USD 5762.0 Million in the year 2021. Growing research and developments in the field of advanced pharmaceutical drugs, along with the surge in healthcare expenditure worldwide, and the rising advancements in the field of drug delivery systems are some of the major factors anticipated to drive the market growth in the coming years.
Geographically, the global fill finish manufacturing market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in Europe is anticipated to garner the largest revenue of USD 6004.7 Million by the end of 2031. Moreover, in the year 2021, the market in the region generated a revenue of USD 2425.8 Million.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Surge in the Prevalence of Chronic Diseases to Drive the Market Growth
According to the statistics by the World Health Organization (WHO), in the year 2019, the prevalence of diabetes, a chronic disease, was known to be the 9th leading cause of death globally. In addition to this, around 1.5 Million people were known to die due to the disease in that very same year.
The growing prevalence of chronic diseases, such as diabetes, has raised the need amongst the patients to adopt self-administrable medications, as these medications are easy to use and are more reliable as the probability of contamination is relatively less. Moreover, prefilled syringes and injection devices are usually more accurate in terms of the quantity of the drug receivable by the patient. Owing to such factors, there is a growing need amongst pharmaceutical drug manufacturers to design more sophisticated container closure and drug delivery systems, which is anticipated to drive the growth of the fill finish manufacturing market in the coming years.
However, the risks associated with the packaging of pre-filled syringes, and the availability of lose-cost alternative are expected to operate as key restraint to the growth of global fill finish manufacturing market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global fill finish manufacturing market which includes company profiling of Becton, Dickinson and Company, B. Braun Melsungen AG, Catalent, Inc., AbbVie Inc., Baxter International Inc., Gerresheimer AG, Medefil, Inc., SCHOTT AG, West Pharmaceutical Services, Inc., MedXL Inc., NIPRO Corporation, Terumo Corporation, Taisei Kako Ltd., Otsuka Pharmaceutical Factory, Inc., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global fill finish manufacturing market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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