Vietnam Prefilled Syringes Market Size Set to Expand at Significant CAGR to Reach Value of USD 82.25 Million by 2030

Published | 23 July 2024

Vietnam Prefilled Syringes Market is flourishing because of the growing healthcare sector across the country and the government’s initiatives to promote vaccination programs and improve healthcare access.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Vietnam Prefilled Syringes Market size at USD 58.41 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects Vietnam Prefilled Syringes Market size to expand at a CAGR of 5.60% reaching a value of USD 82.25 million by 2030. By volume, BlueWeave estimated Vietnam Prefilled Syringes Market size at 43.47 million units in 2023. During the forecast period between 2024 and 2030, BlueWeave expects Vietnam Prefilled Syringes Market size to expand at a CAGR of 4.40% reaching the volume of 60.56 million units by 2030. Growing incidence of chronic illnesses, technological developments, the expansion of the country's healthcare infrastructure, the enhancement of healthcare accessibility, favorable government regulations, and growing awareness about the advantages of prefilled syringes are significant growth drivers for Vietnam Prefilled Syringes Market.

Opportunity - Rising prevalence of chronic diseases

Prefilled Syringes are being used in the treatment of many chronic diseases, such as diabetes, rheumatoid arthritis, anaphylaxis, cancer, thrombosis, ophthalmology, and others. The diabetes segment accounts for the highest market share owing to the rising need for effective and safer insulin delivery devices. In 2017, the percentage of individuals with diabetes countrywide was 6.0%, accounting for around 5 million cases of the disease. The increasing burden of diabetes in Vietnam is propelling the demand for prefilled syringes. Following diabetes, anaphylaxis also covers a substantial market share owing to the increasing prevalence of life-threatening allergies.

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Hospital Pharmacies Held Largest Market Share

Vietnam Prefilled Syringes Market is comprised of hospital pharmacies, retail pharmacies & drug stores, and e-commerce distribution channel segments. The hospital pharmacies segment holds the largest share of Vietnam Prefilled Syringes Market by distribution channel. The high number of in-patient and out-patient treatments in hospitals because of the convenience and accessibility of healthcare services fuels the demand for prefilled syringes in hospital pharmacies. In addition, the adoption of safe medication techniques to reduce the chances of sharp-related injuries is also anticipated to propel the use of prefilled syringes in hospitals.

Competitive Landscape

Vietnam Prefilled Syringes market is intensely competitive, as many companies are competing to gain a significant market share. Key players in the market include Aguettant, Becton Dickinson, Baxter Healthcare Vietnam Co. Ltd, Nanogen Biopharmaceutical, Gerresheimer AG, NIPRO PHARMA VIETNAM CO., LTD, Terumo Vietnam Co., Ltd., Stevanato Group, Fresenius, and Catalent.

To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Don’t miss the business opportunity in Vietnam Prefilled Syringes Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and Vietnam Prefilled Syringes Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Vietnam Prefilled Syringes Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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