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Small Molecule Prefilled Syringes Market 2019 : Prime Challenges, Competitive Scenario
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The global small molecule prefilled syringes market was valued at US$ 13,749.4 million in 2016 and is expected to witness a robust CAGR of 4.6% over the forecast period (2017–2025).
Manufacturers are focusing on capitalizing on patent losses to launch generic versions in the market. For instance, in 2017, Mylan N.V. launched generic alternative to Copaxone 40 mg/ml for multiple sclerosis patients in the U.S. Moreover, Mylan N.V. launched Brabio, first generic alternative to Copaxone 40 mg/ml, for multiple sclerosis patients in the U.K., in January 2018. Teva Pharmaceuticals enhanced presence in Multiple Sclerosis segment through the introduction of three-times-a-week Copaxone 40 mg/mL product in the U.S in 2014. In 2015, Teva Pharmaceuticals launched Generic Lovenox in the U.S. market. In 2016, Fresenius Kabi launched Ketorolac injection in its ready-to-administer prefilled glass syringe. Sandoz announced the U.S. Food & Drug Administration approval and launch of Glatopa (Glatiramer acetate) 40 mg/mL, in February 2018.
Key players in the market are focusing on collaborations, acquisitions, and partnerships, in order to enhance their market share. For instance, in 2013, Unilife Corporation entered into a long term supply contract with Sanofi S.A. The objective was to use Unilife’s Unifill Finesse platform of prefilled syringes with Sanofi S.A.’s Enoxaparin Sodium sold under brand names, Lovenox and Clexane. Pfizer, Inc. acquired Hospira, Inc. in the year 2015. Hospira, Inc. was a leading provider of injectable drugs and infusion technologies and this is expected to aid the company in increasing its market share. In 2016, Fresenius Kabi USA acquired BD Rx business from Becton, Dickinson, and Company. The business included pharmaceutical manufacturing plant and the BD Simplist line of seven drugs in ready-to-administer prefilled glass syringes.
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Key Takeaways of the Small Molecule Prefilled Syringes Market:
The global small molecule prefilled syringes market is expected to exhibit a CAGR of 6% over the forecast period (2017–2025), owing to increasing product launches by manufacturers such as Mylan N.V., and Fresenius Kabi, AG in this prefilled syringes
Availability of small molecule therapies in neurology segment is very low and therefore, the segment has high growth potential
Major drugs in the neurology drugs segment such as Copaxone (manufactured by Teva Pharmaceutical Industries Ltd.) are expected to face competition from generics
Major players operating in the small molecule prefilled syringes market include Pfizer, Inc., Sanofi S.A., Mylan N.V., Teva Pharmaceutical Industries Ltd., Becton, Dickinson, and Company, and Fresenius Kabi AG
However, factors such as complex manufacturing process, high costs, and requirement of high quality of these products (responsible for high costs) are expected to hinder growth of the market over the forecast period.
Some major players operating in the small molecule prefilled syringes market include Pfizer, Inc., Sanofi S.A., Mylan N.V., Teva Pharmaceutical Industries Ltd., Becton, Dickinson and Company, and Fresenius Kabi AG.
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