The GCC syringes and needles market is expected to grow rapidly during the forecast period, according to a recent study by Future Market Insights (FMI). The market is expected to increase from US$ 525.4 million in 2020 to more than US$ 1.33 billion by 2031. This corresponds to an 8.8% CAGR over the forecast period.
Due to an increasing population and a growing burden of geriatric population, GCC countries have prioritised their healthcare sector. In these countries, the prevalence of lifestyle disorders and other chronic noncommunicable diseases has increased significantly.
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As a result, syringes and needles are in high demand as systems for accurate drug delivery for the treatment of various chronic ailments.
Government reforms and initiatives have been implemented to improve their healthcare systems, and various changes have been implemented to improve the efficiency and quality of the countries’ healthcare systems. Favorable policies aimed at expanding the healthcare sector will create a favourable environment for market growth.
According to a 2017 Saudi Medical Journal article, the prevalence of diabetes in the Kingdom of Saudi Arabia was around 31.6%. Furthermore, the rising prevalence of other chronic diseases such as cardiovascular disease, cancer, and other noncommunicable diseases, in addition to diabetes, contribute significantly to the rising demand for disposable syringes and needles in these countries, positively impacting market growth over the forecast period.
In February 2021, His Excellency Mohammed Al Hamed, Chairman of the Department of Health, visited the Abu Dhabi Medical Devices company’s headquarters factory to oversee efforts to contribute to the COVID-19 pandemic, as the company has collaborated with various international organisations such as UNICEF and COVAX to supply syringes and needles for the vaccination programme worldwide.
Such developments not only strengthen the company’s existing portfolio, but also help to increase their presence on a regional and global scale, allowing businesses to withstand increasing competitive pressure. These developments are expected to help the GCC syringes and needles market grow.
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Key Takeaways from GCC Syringes and Needles Study
- In 2021, hypodermic syringes and needles will continue to be the most popular product, accounting for 87.6% of market demand.
- In terms of usability, disposable syringes and needles will command an 81.3% market share in 2021.
- Polymer syringes and needles are expected to be in high demand by material. During the forecast period, sales in this category will increase by 8.9%.
- In 2021, the hospital segment will account for 66.9% of the market share by end user.
- In terms of countries, the Kingdom of Saudi Arabia (KSA) is expected to hold the largest share of the GCC syringes and needles market in 2021, accounting for 73.6%.
Who is winning?
Some of the leading manufacturers of syringes and needles market are focusing on product launch, collaboration and partnership strategies for global expansion objectives, thereby, enhancing their market presence.
- Becton, Dickinson and Company announced in June 2021 that they had received a massive order of 2 billion injection devices to be used in global vaccination programmes.
- B. Braun Medical Inc. announced the release of their first FDA-approved Heparin Sodium prefilled syringe injection with an attached safety needle for subcutaneous and intravenous use in April 2019.
The key market players covered by FMI include Becton, Dickinson and Company, Nipro Corporation, Baxter International Inc., B. Braun Melsungen AG, Terumo Corporation, Medtronic PLC, Smiths Group PLC, Abu Dhabi Medical Devices Company, SAAPP (FZC) LLC. and IBN Sina Medical Factory
Want more insights?
Future Market Insights provides a comprehensive research report on forecasted revenue growth at the global, regional, and country levels, as well as an analysis of the most recent industry trends in each sub-segment from 2016 to 2031. The GCC syringes and needles market is segmented in depth to cover every aspect of the market and provide the reader with a comprehensive market intelligence approach.
The study provides compelling insights into syringes and needles market. The syringes and needles market is segmented into two parts based on product (oral and hypodermic) based on usability (disposable and reusable) based on material (glass and polymer) based on end user (hospitals, blood collection centers, diabetic care centers, veterinary care centers, and others) and based on country ( KSA, UAE, Qatar, Bahrain, Oman and Kuwait).
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GCC Syringes and Needles by Category
Product:
- Oral
- Hypodermic
- Standard
- Special Purpose
- Insulin
- Tuberculin
- Other Special Purpose
- Angiographic
Usability:
- Disposable
- Reusable
Material:
- Glass
- Polymer
End User:
- Hospital
- Blood Collection Center
- Diabetic Care Center
- Veterinary Care Center
- Others
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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