Analytical Study of Syringe and Needle Market Set to Surge, Projected to Reach US$ 1,164.90 Million at a 5.40% CAGR

Analytical Study of Syringe and Needle

The syringes and needles market are set to rise at a 5.40% CAGR through 2034. Demand outlook for syringes and needles in GCC indicates crossing US$ 688.5 million in 2024. By 2034, sales projections for syringes and needles in GCC signify attaining a valuation of US$ 1,164.90 million.

Needles and syringes are essential tools in the healthcare delivery process since they are used to administer medications, vaccinations, and diagnostic testing. The need for syringes and needles in the GCC region is continuously increasing as a result of the growing prevalence of chronic illnesses, the expanding healthcare system, and the growing public awareness of infection prevention.

The market for syringes and needles in the GCC region is growing as a result of several factors, including better access to and quality of healthcare provided by government initiatives, an increase in the prevalence of chronic illnesses, and improved healthcare infrastructure. Together, these components support the GCC healthcare facilities’ increasing need for safe and efficient medical supplies like syringes and needles.

The GCC countries’ government reforms and initiatives have been crucial in fortifying healthcare systems and propelling advancements meant to improve efficiency and quality. These programs demonstrate a dedication to improving healthcare services and infrastructure, which will ultimately help patients and healthcare providers in the area..

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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

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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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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