The syringes and needles market is set to witness a substantial rise in the sales of syringes and needles, with a projected compound annual growth rate (CAGR) of 5.40% through 2034. Demand for these essential medical supplies is anticipated to surpass USD 688.5 million in 2024, with sales projections indicating a significant increase to USD 1,164.90 million by 2034.
This growth forecast highlights the increasing demand for syringes and needles across the GCC, driven by factors such as the rising prevalence of chronic diseases, expanding healthcare infrastructure, and the growing focus on improving patient care. The anticipated rise in market value underscores the critical role of syringes and needles in various medical procedures and the overall healthcare delivery system.
The robust growth outlook also reflects ongoing advancements in medical technology and the increasing adoption of safer and more efficient medical devices. As the GCC region continues to enhance its healthcare capabilities, the demand for high-quality syringes and needles is expected to rise correspondingly.
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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:
- Steady Growth Trajectory: The GCC syringes and needles market is on a steady growth trajectory, driven by increasing healthcare needs and advancements in medical technology.
- Rising Demand: The demand for syringes and needles in the GCC region is fueled by factors such as population growth, expanding healthcare infrastructure, and a growing focus on preventive healthcare measures.
- Government Initiatives: Government initiatives aimed at improving healthcare accessibility and quality play a crucial role in driving market growth, fostering a conducive environment for healthcare infrastructure development.
- Technological Advancements: Technological advancements in syringe and needle design, such as safety features and enhanced usability, contribute to market expansion by addressing concerns related to infection control and patient safety.
- Investments in Healthcare: Increasing investments in healthcare infrastructure and medical facilities across the GCC countries further stimulate demand for syringes and needles, supporting the market’s growth trajectory.
“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
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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