The global GCC Syringes and Needles Market estimated at US$ 525.4 million in 2020 and projected to grow to US$ 1.33 billion by 2031, with a compound annual growth rate (CAGR) of 8.8% from 2021 to 2031, as per a Future Market Insights (FMI) report.
The reason behind the increase in demand for syringes and needles is their vital function as accurate drug delivery systems that cater to the medical needs of numerous chronic illnesses. The GCC countries’ government reforms and initiatives have been instrumental in strengthening healthcare systems by bringing about improvements that are intended to increase quality and efficiency.
As a result of the ensuing advantageous policies, the GCC Syringes and Needles Market is positioned to redefine healthcare standards by creating an environment that is beneficial to market growth. These developments highlight the critical role that precise drug delivery systems will have in determining the direction of healthcare in the GCC countries as the area develops further.
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In the Kingdom of Saudi Arabia, the prevalence of diabetes was approximately 31.6% in 2017, according to a Saudi Medical Journal study. Additionally, the rising incidence of non-communicable diseases, cancer, cardiovascular disease, and other chronic illnesses that need long-term care in addition to diabetes is a major factor driving up demand for disposable syringes and needles in these nations and is expected to have a positive effect on market growth during the forecast period.
His Excellency Mohammed Al Hamed, the Chairman of the Department of Health, paid a visit to the Abu Dhabi Medical Devices company’s headquarters factory in February 2021 to supervise the measures taken to combat the COVID-19 pandemic. The company has collaborated with several international organizations, including UNICEF and COVAX, to supply syringes and needles for the global vaccination program.
Key Takeaways:
- Hypodermic syringes and needles will remain the top-selling product in the market, accounting 87.6% of demand in 2021.
- By usability, the disposable syringes and needles will account for dominant share of 81.3% in the market in 2021.
- By material, the polymer syringes and needles are expected to register high demand. Sales in this category will grow by 8.9% during the forecast period.
- By end user, the hospital segment will account for 66.9% of the market share in 2021.
- By countries, Kingdom of Saudi Arabia (KSA) is anticipated to hold the largest share of 73.6% of the GCC syringes and needles market in 2021.
“In order to cater to surging demand, market players are eyeing for strategic collaborations. Besides this, they are investing in research and development initiatives to strengthen their product portfolio. This is expected to help in the growth of the market over the coming years,” said a lead FMI analyst.
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GCC Syringes and Needles Market – Competitive Landscape:
Companies operating in the GCC syringes and needles market are actively seeking to strengthen their position through product approval, collaborations, merge & acquisition, and partnerships, agreements with established as well as emerging market players. Besides this, some are focusing on product launches. For instance:
In December 2020, B. Braun Melsungen AG launched the COVID-19 vaccination sets for a contract with the Federal Office of Public Health and Federal Department of Defense, Civil Protection and Sport as a part of their efforts to contribute to the vaccination drive in Switzerland.
In March 2021, Terumo Corporation began production of syringes which can yield up to 7 shots per vial of COVID-19 vaccine. This syringe was launched in accordance with the vaccine doses of Pfizer.
Key Companies Profiled:
- 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.
- IBN Sina Medical Factory
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Key Segmentation:
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
Countries:
- Kingdom of Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Qatar
- Bahrain
- Oman
- Kuwait
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