The BFS syringes market is forecasted to experience a growth of 9.4% CAGR over the estimated period, as per FMI’s analysis. The industry’s size is predicted to reach a market value of US$ 878.48 million in 2023. By 2033, the BFS syringes industry is expected to capture US$ 2,158.46 million by 2033.
BFS technology is most commonly used in ophthalmic treatments, veterinary products, and medical gadgets. The surging adoption of medical gadgets and veterinary products is propelling the use of BFS syringes.
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Parenteral drugs like ophthalmic solutions, injectables, and respiratory therapies need to follow strict regulatory guidelines. To pack these drugs, manufacturers use aseptic packaging like BFS syringes. The demand for BFS products is projected to surge due to expanding geriatric population and prevailing chronic diseases.
Growing demand for sustainable packaging solutions among end-users is expected to favor market growth. BFS procedure requires less demand for plastics and does not deploy external sterilizing. It reduces the carbon footprint and energy use. Further, growing concerns for the environment are expected to support the demand for BFS syringes.
Top Highlights from the FMI’s Analysis of the BFS Syringes Market
- India is coming up strong in the BFS syringes industry. Several investors are vying for their share in India’s BFS syringes industry due to several opportunities available in the market.
- The United States accounts for considerable sales of BFS syringes. Early deployment of advanced technologies is expected to drive automation in the packaging industry and boost the BFS syringes industry.
- BFS polypropylene syringes are expected to observe high preference over the estimated period.
- The healthcare and pharmaceutical sector is anticipated to generate significant revenue in the BFS syringes.
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FMI Spots New Developments that are Revolutionizing the BFS Syringes Industry
- In 2021, Gerresheimer AG officially declared that it is coming into a strategic partnership with a global technology group called SCHOTT AG. The motive behind this partnership is to develop and manufacture high-quality, uniquely designed primary packaging options for the pharmaceutical industry.
- Catalent, Inc. finalized the acquisition of MaSTherCell Global, a firm that specializes in gene and cell therapy development and manufacturing. The acquisition intends to fuel and enhance Catalent’s capabilities in the robustly expanding gene and cell therapy industry.
- Unither Pharmaceuticals obtained BFS manufacturing assets of the pharmaceutical firm Zentiva Group in 2020. This development focuses on the expansion of Unither’s capabilities in Europe’s BFS product industry and invigorating its position as a market leader in sterile packaging solutions.
- Weiler Engineering, Inc. finalized the acquisition of Multipack Systems, Inc., which specializes in packaging equipment, in 2019. This acquisition intends to expand Weiler Engineering’s capacity in the packaging industry, especially in the BFS product industry.
- Nephron Pharmaceuticals revealed its plan to invest US$ 12.5 million in its BFS manufacturing facility in South Carolina, the United States, in 2018. The facility intends to meet the surging demand for sterile packaging solutions and generate employment in the region.
About Future Market Insights Inc. (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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