Vietnam Prefilled Syringes Market
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Vietnam Prefilled Syringes Market, By Type (Conventional 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), Trend Analysis, Competitive Landscape & Forecast, 2019–2030
- Published Date: July 2024
- Report ID: BWC24556
- Available Format: PDF
- Page: 200
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
Attributes |
Details |
Years Considered |
Historical Data – 2019–2023 |
Base Year – 2023 |
|
Estimated Year – 2024 |
|
Forecast Period – 2024–2030 |
|
Facts Covered |
By Value - USD Million |
By Volume - Million Units |
|
Product/ Service Segmentation |
Type, Design, Material, Application, Distribution Channel |
Key Players |
Aguettant, Becton Dickinson, Baxter Healthcare Vietnam Co. Ltd, Nanogen Biopharmaceutical, Gerresheimer AG, NIPRO PHARMA VIETNAM CO., LTD, Terumo Vietnam Co., Ltd, Stevanato Group, Fresenius, Catalent |
By Type
-
Conventional Prefilled Syringes
-
Disposable Prefilled Syringes
-
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
- Research Framework
- Research Objective
- Product Overview
- Market Segmentation
- Executive Summary
- Vietnam Prefilled Syringes Market Insights
- Industry Value Chain Analysis
- DROC Analysis
- Growth Drivers
- Growing Healthcare Sector in Vietnam
- Rising Prevalence of Chronic Diseases
- Government Initiatives to Promote Vaccination Programs and Improve Healthcare Access
- Restraints
- High Initial Cost Than Traditional Vials and Needles
- Stringent Regulations Regarding Prefilled Syringe Manufacturing and Quality Control
- Limited Domestic Production
- Opportunities
- Expanding Vaccination Programs in Vietnam
- Developments in Prefilled Syringe Technology, such as Reusable Syringes and Syringes with Safety Features
- Increasing Focus on Home Healthcare
- Challenges
- Fluctuations in Raw Material Prices
- Presence of Counterfeit Products of Prefilled Syringes
- Growth Drivers
- Technological Advancements/Recent Developments
- Regulatory Framework
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of New Entrants
- Threat of Substitutes
- Intensity of Rivalry
- Vietnam Prefilled Syringes Market: Marketing Strategies
- Vietnam Prefilled Syringes Market Overview
- Market Size & Forecast, 2019–2030
- By Value (USD Million)
- Market Share & Forecast
- By Type
- Conventional Prefilled Syringes
- Disposable Prefilled Syringes
- Reusable Prefilled Syringes
- Safety Prefilled Syringes
- Conventional 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
- By Type
- Market Size & Forecast, 2019–2030
- Competitive Landscape
- List of Key Players and Their Offerings
- Vietnam Prefilled Syringes Company Market Share Analysis, 2023
- Competitive Benchmarking, By Operating Parameters
- Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
- Impact of Escalating Geopolitical Tensions on Vietnam Prefilled Syringes Market
- Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
- Aguettant
- Becton Dickinson
- Baxter Healthcare Vietnam Co. Ltd
- Nanogen Biopharmaceutical
- Gerresheimer AG
- NIPRO PHARMA VIETNAM CO., LTD
- Terumo Vietnam Co., Ltd
- Stevanato Group
- Fresenius
- Catalent
- Other Prominent Players
- Key Strategic Recommendations
- Research Methodology
- Qualitative Research
- Primary & Secondary Research
- Quantitative Research
- Market Breakdown & Data Triangulation
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents, By Region
- Assumptions & Limitations
- Qualitative Research
*Financial information of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.
List of Figures
Figure 1 Vietnam Prefilled Syringes Segmentation
Figure 2 Vietnam Prefilled Syringes Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2023
Figure 4 Vietnam Prefilled Syringes Market Size, By Value (USD Million), 2019–2030
Figure 5 Vietnam Prefilled Syringes Market Share, By Type, By Value, 2019–2030
Figure 6 Vietnam Prefilled Syringes Market Share, By Design, By Value, 2019–2030
Figure 7 Vietnam Prefilled Syringes Market Share, By Material, By Value, 2019–2030
Figure 8 Vietnam Prefilled Syringes Market Share, By Application, By Value, 2019–2030
Figure 9 Vietnam Prefilled Syringes Market Share, By Distribution Channel, By Value, 2019–2030
List of Tables
Table 1 Vietnam Prefilled Syringes Market Size, By Value (USD Million), 2019–2030
Table 2 Vietnam Prefilled Syringes Market Share, By Type, By Value, 2019–2030
Table 3 Vietnam Prefilled Syringes Market Share, By Design, By Value, 2019–2030
Table 4 Vietnam Prefilled Syringes Market Share, By Material, By Value, 2019–2030
Table 5 Vietnam Prefilled Syringes Market Share, By Application, By Value, 2019–2030
Table 6 Vietnam Prefilled Syringes Market Share, By Distribution Channel, By Value, 2019–2030
Table 7 Aguettant Company Overview
Table 8 Aguettant Financial Overview
Table 9 Becton Dickinson Company Overview
Table 10 Becton Dickinson Financial Overview
Table 11 Baxter Healthcare Vietnam Co. Ltd Company Overview
Table 12 Baxter Healthcare Vietnam Co. Ltd Financial Overview
Table 13 Nanogen Biopharmaceutical Company Overview
Table 14 Nanogen Biopharmaceutical Financial Overview
Table 15 Gerresheimer AG Company Overview
Table 16 Gerresheimer AG Financial Overview
Table 17 NIPRO PHARMA VIETNAM CO., LTD Company Overview
Table 18 NIPRO PHARMA VIETNAM CO., LTD Financial Overview
Table 19 Terumo Vietnam Co., Ltd Company Overview
Table 20 Terumo Vietnam Co., Ltd Financial Overview
Table 21 Stevanato Group Company Overview
Table 22 Stevanato Group Financial Overview
Table 23 Fresenius Company Overview
Table 24 Fresenius Financial Overview
Table 25 Catalent Company Overview
Table 26 Catalent Financial Overview
Market Segmentation
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Frequently Asked Questions (FAQs):
5. Which segment accounts for the highest share in Vietnam Prefilled Syringes Market by application?
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