High-Value specialized prefillable syringe systems to accelerate revenue growth in 2023 and beyond
Company to launch next generation specialty polymer-based syringe products for the healthcare market
Sharps' specialized product pipeline and market strategy will include a broad range of sizes, silicon free systems that address contamination issues for the broader healthcare market, dual chamber systems that improve drug shelf life while reducing unnecessary packaging, and customized solutions for systems that serve the growing autoinjector segment.
Sharps announced a manufacturing and research partnership with
Growing Transition from the Use of Old Bulk Syringes to New Innovative Prefillable Syringes:
Over the last 20 years, the pharmaceutical syringe operational model has shifted from the use of bulk syringes to prefillable syringes, increasing prefillables from 15% to 85%. By purchasing the prewashed and sterile systems in specialty nest and tub packaging, pharmaceutical operations can decrease their manufacturing footprint by about 50%. With new technologies in fill-finish equipment, syringe filling has become more accurate and faster in this smaller footprint. This is the reason why prefillable syringe systems are considered a high growth segment of the drug packaging market.
There has been a rapid increase in demand for these systems and with legacy drugs and including the COVID 19 vaccine moving into the more economical packaging of PFS. Lead times for the procurement of PFS systems continue to rise with pharmaceutical companies expected average lead times increasing to 12-24 months from their current suppliers. The most common PFS systems are designed with pharmaceutical glass barrels which require the use of a complex series of production, washing and preparation processes prior to sterilization. A diminishing workforce of the highly skilled operators needed to manufacture glass syringes only adds speculation to the growing lead times for customers. Even with significant advancements in statistical modeling for production, the glass forming world is still struggling to implement these key manufacturing principles today.
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