Needles and syringes are sterile instruments used to inject substances into or remove fluids from the body. There are numerous types and styles of syringes on the market. Most of them are single-use and others even have needles already connected. Some syringes, however, may not have a needle already attached. Medications come in a variety of volumes, therefore the syringe must be chosen accordingly. Needles are straightforward medical devices that consist of a hollow barrel with a pointed tip and a hub that snaps onto the syringe.
In 2022, the Gulf Cooperation Council (GCC) syringes and needles market is projected to reach a value of US$252.3 Mn, expanding at a CAGR of 9.1% in the predicted period (2022-2030).
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Growth in the syringe and needle market in the GCC is anticipated to be driven by the rising incidence of chronic diseases.
Market expansion for syringes and needles is anticipated over the projected period due to the rising incidence of chronic diseases like as cancer, diabetes, cardiovascular disease, and others, which need their use in the medical analysis and care of these conditions. An estimated 73 Mn adults in the Middle East and North Africa (MENA) area of the world have diabetes in December 2021, according to research published by the International Diabetes Federation (IDF). By 2030, experts predict that number will rise to 95 Mn, and by 2045, it will reach 136 Mn in the MENA region.
Throughout the projected period, the market is expected to increase thanks to rising investments by major players in the region in the production of medical equipment, such as syringes.
Over the projection period, growth in the region’s market is anticipated to be driven by major domestic players stepping up their game and making investments in fields like medical device manufacturing with an eye toward export.To give just one example, in October of 2022, the United Arab Emirates pledged US$ 70 mn toward the production and export of medical equipment around the world. PureHealth, a UAE healthcare provider, collaborated with Abu Dhabi Medical Devices Company (ADMD), Abu Dhabi Ports Group, and polymers supplier Borouge to establish a manufacturing facility for medical supplies in Abu Dhabi as part of this effort. Raw materials will be supplied by Borouge, a joint venture of Abu Dhabi National Oil Company (Adnoc) and Austria-based Borealis, and industrial land will be supplied by Abu Dhabi Ports Group, the preeminent facilitator of logistics, industry, and trade in the region and a bridge connecting Abu Dhabi to the world. According to a second deal between PureHealth and pharmaceutical company Julphar, the first facility to produce Glargine, a long-acting biological alternative to insulin used to treat diabetes, will soon be up and running in the Middle East.
GCC Syringes and Needles Market– Effect of Coronavirus (COVID-19) Pandemic
One hundred nations have reported COVID-19 cases since the outbreak began in December 2019, causing the WHO to declare a worldwide public health emergency on 30th January, 2020.
There are three main ways in which COVID-19 might damage the economy: through direct effects on production and need, through interruptions in distribution systems, and through monetary effects on businesses and financial markets. India, China, Egypt, Saudi Arabia, the United Arab Emirates, and others all experienced difficulties transporting goods from one location to another as a result of statewide lockdowns.
The enhanced COVID-19 immunization programs, however, had a favorable impact on the GCC syringes and needles market. The National Emergency Crisis and Disaster Management Authority, for example, reports that the United Arab Emirates (UAE) completed its National COVID-19 Vaccination Program and vaccinated and immunized all of its intended populations by the end of June 2022. The campaign’s intended recipients included healthy adults of the right age ranges for each vaccine, the elderly, and those with chronic disorders whose conditions allow vaccination.
GCC Syringes and Needles Market: Restraint
High fixed costs, low profit margins, and product recalls are the main issues holding back the GCC syringes and needles industry. For example, the syringe and needle business is volume driven but is expensive to produce due to high initial investment and ongoing maintenance. The need for a trained labor force also contributes to the industry’s high cost of doing business. Market demands for sterility mean strict adherence to regulations. Market expansion is likely to be hampered by all of these concerns.
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Companies like these dominate the Gulf Cooperation Council (GCC) syringe and needle market are 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, IBN Sina Medical Factory, Alshifa Medical Syringes Manufacturing Company Limited, International Korean Medical Company, Mais Saudia, and VITREX Medical A/S
|The market size value in 2023|
Table of Contents with Major Points:
- Key Findings
- Definitions and Assumptions
- Definition of GCC Syringes and Needles Market
- Market Dynamics
- Trends and Developments
- Key Emerging Trends
- Key Developments Mergers and Acquisition
- New Product Launches and Collaboration
- Partnership and Joint Venture
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
Qualitative Insights Impact of COVID-19 on Global GCC Syringes and Needles Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Data Sources
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