Overview
Sharps, which have syringes and needles, are the most commonly used medical disposables around the world. Syringes and needles are hollow tubes with a nozzle and piston for sucking in or injecting fluid or liquid in a thin stream into the patient or vial, and are made of glass, metal or polymer.
Statistics
In 2018, the GCC syringes and needles market was valued at US$ 434.6 million, and by 2027, it is projected to hit US$ 961.7 million.
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Drivers
During the forecast period, the rising incidence of chronic diseases is expected to drive growth of the GCC syringes and needles market. Saudi Arabia had recorded 24,485 new cancer cases and 10,518 cancer-related deaths in 2018, as per the World Health Organization.
Furthermore, the demand is projected to expand as the number of hospitals and other healthcare facilities grows. Under Vision 2030 and the National Transformation Program, the Saudi government aims to double the number of trained Saudi nurses by 2020 and raise the number of licensed medical facilities from 40 to 100.
In 2018, the Kingdom of Saudi Arabia (KSA) dominated the GCC syringes and needles market, contributing about 73.6 percent of the overall market share, led by the United Arab Emirates (UAE).
Restraints
Over the forecast period, the demand for GCC syringes and needles is projected to be hampered by the reuse of disposable syringes. Blood collecting, injection and infusion are some of the most common uses for syringes and needles. Disposable syringes are often used for the above applications due to a lack of knowledge about patient health and protection, disease transmission, and cost effectiveness, which could stifle demand development.
The interaction of prefilled syringes with medications and their diluents is a significant source of concern because it compromises medication stability. Interactions between drug chemicals and physical properties of materials used to produce syringes, such as polymer and glass materials, can adversely affect drug properties and cause harm to the end user in prefilled syringes. Hence, the growth of the GCC syringes and needles market could be affected.
Opportunities
For participants in the GCC syringes and needles market, rising self-administration of medicine is projected to provide lucrative growth opportunities. Patients favor self-administration of medications due to the convenience of using prefilled syringes for self-administration.
The accessibility to sterile syringes and needles by vendors is difficult on a daily basis, but the availability of disposable needles and syringes to patients through vending machines for self-administration of drugs can also emerge as an advantage for market participants.
The hypodermic segment of the GCC syringes and needles market was worth US$ 381.5 million in 2018, and is projected to grow at a CAGR of 9.8% to US$ 873.2 million by 2027.
Market Trends
Plastic syringes are becoming more popular than glass syringes because they are easier to use, more resistant to breakage, and less expensive. Furthermore, owing to their light weight, plastic syringes are easier to transport, and the risk of unintended injury while carrying plastic syringes are lower than glass syringes.
Due to the ease of administration, demand for single-use prefilled syringes and needles is skyrocketing. Furthermore, single-use prefilled syringes and needles are appropriate for use at home.
Value Chain Analysis
Sellers, designers, wholesalers, importers, dealers, and raw material producers are all interested in the supply chain of the GCC syringes and needles business.
Due to a shortage of production facilities for such goods in the region, GCC countries rely on imported syringes and needles to satisfy demand from end users.
Since there are fewer intermediates, “Value Chain-1” has become the fastest and most profitable value chain.
Regardless of the adverse circumstances, few local producers participate in production operations in the GCC, as reflected by “value chain-2,” which is less desirable due to lower profit margins than “value chain-1.”
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Competitive Landscape
Key companies contributing in the GCC syringes and needles market are Medtronic plc, Baxter International Inc., Nipro Corporation, Dickinson and Company (BD), Becton, IBN Sina Medical Factory, SAAPP (FZC) LLC., Abu Dhabi Medical Devices Company, Terumo Corporation, B. Braun Melsungen AG, and Smiths Group plc.
Key Developments
The market’s key players are concentrating on introducing new products in order to extend their product range. Fresenius Kabi released the Glucagon Emergency Kit in February 2020, which contains 1 mg Glucagon for Injection and a prefilled glass syringe with 1 mL Sterile Water for Injection, USP.
At the 2018 AAGL (American Association of Gynecologic Laparoscopists) conference in November, Baxter International Inc. introduced the Tisseel Prima syringe.
Morimoto Pharma introduced the Morimoto S.A.F.E. Syringe Kit, a new prefilled syringe device.
In August 2018, Credence MedSystems has secured $12.8 million in a series B round of funding to develop its injectable drug delivery product production.
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