Report Overview

The Vietnamese government’s supportive initiatives to promote vaccination programs and improve healthcare access across the country, and increasing prevalence of chronic diseases are expected to boost the growth of Vietnam Prefilled Syringes Market during the forecast period between 2024 and 2030.

Vietnam Prefilled Syringes Market - Industry Trends & Forecast Report, 2030

Vietnam Prefilled Syringes Market size was estimated to be worth USD 58.41 million in 2023. During the forecast period between 2024 and 2030, Vietnam Prefilled Syringes Market size is projected to grow at a CAGR of 5.60%, reaching a value of USD 82.25 million by 2030.

By volume, Vietnam Prefilled Syringes Market size was estimated at 43.47 million units in 2023. During the forecast period between 2024 and 2030, Vietnam Prefilled Syringes Market size is expected to expand at a CAGR of 4.40% reaching a volume of 60.56 million units by 2030.

Major growth factors for Vietnam Prefilled Syringes Market include the increasing prevalence of chronic diseases, technological advancements, development of  healthcare infrastructure across the country, and improving healthcare accessibility in the country. In addition, rising awareness of the benefits of prefilled syringes and favorable government regulations are projected to drive Vietnam Prefilled Syringes Market over the forecast period.

Prefilled Syringes – Overview

Prefilled syringes, pre-loaded with a single dose of vaccine or therapeutic molecules, come with an attached needle, enhancing safety and convenience. Traditionally, metal or glass syringes were prevalent, but there's a growing shift towards plastic and disposable options to ensure better sterilization and prevent reuse. This trend has boosted the adoption of prefilled syringes in the medical sector over traditional glass vials for injectable drug packaging. Prefilled syringes offer significant benefits, including enhanced patient safety, precise dosage, and ease of use, making them preferred for administering vaccines, therapeutic proteins, and medications for conditions like rheumatoid arthritis.

Vietnam Prefilled Syringes Market

Growth Drivers

Development of Healthcare Infrastructure across Vietnam

The lack of robust healthcare infrastructure and the high burden of healthcare facilities in urban cities affect the public's accessibility to healthcare. As a result, the Vietnamese government is making major investments to modernize and enhance its facilities by equipping them with new medical technology, increasing operational efficiency, and providing better services. The number of public and private hospitals is also increasing, and they are opening new departments for specialty treatment. With the rising burden of chronic and communicable diseases and an increasing geriatric population, the demand for healthcare services and products, including prefilled syringes, is projected to rise, propelling the overall growth of Vietnam Prefilled Syringes Market.

Challenges

High Cost and Availability of Cheaper Alternatives

Prefilled syringes are also more costly than vials due to the need for more involved and expensive packaging operations, such as filling, de-/re-nesting, and rod insertion, which increases the manufacturing cost of these syringes. As a result, major end users, including hospitals, prefer disposable syringes over prefilled ones, which limits market growth in a country like Vietnam with limited healthcare investment. In addition, the presence of alternative and cheaper drug delivery methods, including oral, topical, and nasal, further retrains the Vietnam prefilled syringes market.

Vietnam Prefilled Syringes Market

Segmental Coverage

Vietnam Prefilled Syringes Market – By Type

Based on type, Vietnam Prefilled Syringes Market is segmented into conventional prefilled syringes and safety prefilled syringes. The safety prefilled syringe segment holds a larger share in Vietnam Prefilled Syringes Market. The stringent government regulations in Vietnam around safely engineered medical devices directly influence the demand for safety-prefilled syringes. These devices are essential for protecting healthcare personnel against needlestick injuries and possible infections like HIV and hepatitis. With a passive safety design, the needle is automatically protected after the standard injection process, saving the user from having to take any further action.

Vietnam Prefilled Syringes Market – By Design

By design, Vietnam Prefilled Syringes Market is segmented into single chamber, dual chamber, and multiple chamber. The single chamber segment accounts for the highest market share and is anticipated to witness the highest growth rate during the forecast period as well. Single-chamber prefilled syringes are simple to store and dispose of, use fewer supplies, and result in less medication waste during clinical studies. The benefits of prefilled syringes and the rising use of self-administered parenteral medications as a result of the increasing incidence of chronic illnesses are also expected to fuel demand for the single chamber segment.

Vietnam Prefilled Syringes Market – By Material

On the basis of material, Vietnam Prefilled Syringes Market is split into glass and plastic segments. The glass prefilled syringes segment dominates Vietnam Prefilled Syringes Market by material. The primary drivers of the market's growth are the benefits this material offers, including its ability to prevent oxygen and water vapor from reacting with medicine components, its compatibility with a variety of filling machines, and its seamless integration into pharmaceutical companies' PFS operations.

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.

Scope of the Report

By Type

• Conventional Prefilled Syringes

1. Disposable Prefilled Syringes

2. Reusable Prefilled Syringes

• Safety Prefilled Syringes

By Design

• Single Chamber

• Dual Chamber

• Multiple Chamber

By Material

• Glass

• Plastic

By Application

• Diabetes

• Rheumatoid Arthritis

• Anaphylaxis

• Cancer

• Thrombosis

• Ophthalmology

• Others

By Distribution Channel

• Hospital Pharmacies

• Retail Pharmacies & Drug Stores

• E-commerce