March 23rd, 2020 Coherent Market Insights Releases
There are several types of syringes such as luer lock, luer slip, catheter tips, and insulin syringe. The most common use of a syringe is to administer injections into the body. Syringes are available in various sizes such as 30 cc, 20 cc, and 10 cc.
GCC syringes and needles market is estimated to account for US$ 434.6 Mn in terms of value in 2018 and is expected to reach US$ 961.7 Mn by the end of 2027.
GCC Syringes and Needles Market: Drivers
Significant prevalence of infectious diseases and the proportion of patients linked to care is expected to boost demand for disposable single use syringes and needles, thereby propelling growth of GCC syringes and needles market over the forecast period. For instance, according to the study, ‘The cascade of HIV care in Oman, 2015–2018: A population-based study from the Middle East’, published in the International Journal of Infectious Diseases in September 2019, the estimated number of people living with HIV in Oman was 3030 and the proportion of patients linked to care increased from 72.6% in 2015 to 95.6% in 2018.
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GCC Syringes and Needles Market: Opportunities
Availability of new drugs in the form of prefilled syringes is expected to offer lucrative growth opportunity for players in GCC syringes and needles market. Currently, more than 100 drugs and vaccines are available in prefilled syringes across different therapeutic classes.
GCC Syringes and Needles Market: Restraints
R&D and launch of needle-free injectors is expected to hinder growth of the market. For instance, in December 2019, Nephron Pharmaceuticals Corporation partnered with National Medical Products Inc., a developer of J-Tip Needle Free Injector, to provide patients quality care through virtually pain-free anesthetic.
Hypodermic segment in GCC syringes and needles market was valued at US$ 381.5 Mn in 2018 and is expected to reach US$ 873.2 Mn by 2027 at a CAGR of 9.8% during the forecast period. Hypodermic route of administration is expected to dominate over the forecast period owing to factors such as bypassing of gastrointestinal tract, and direct access of drug in to the blood circulatory system.
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The disposable segment held dominant position in GCC syringes and needles market in 2018, accounting for 80.2% share in terms of value, followed by reusable segment, respectively. Disposable syringes and needles are cheaper than reusable syringes, as well as, sterilization of the same is not necessary as they can be easily replaced with new syringes and needles.
The polymer segment held dominant position in GCC syringes and needles market in 2018, accounting for 97.3% share in terms of value, followed by glass respectively. Polymer raw material offers advantages such as durability, no breakage, and can be manufactured in different colour patterns. These factors are expected to support growth of the segment over the forecast period.
Use of safety syringes is increasing due to awareness about the advantages of safety syringes and needles over conventional syringes and needles. Safety syringes have a safety mechanism build into the syringes such as luer lock, sheath over the needles, needle cappers, splatter effect in syringes and automated plunger.
Major players in the market are focused on adopting strategic partnerships. For instance, in May 2019, Nipro Corporation announced its plans to invest US$ 21 million in JMI Syringes to become its strategic partner.
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GCC Syringes and Needles Market: Competitive Landscape
Major players operating in GCC syringes and needles market include, Becton, Dickinson and Company (BD), Nipro Corporation, Baxter International Inc., B. Braun Melsungen AG, Terumo Corporation, Medtronic plc., Smiths Group plc., Abu Dhabi Medical Devices Company, SAAPP (FZC) LLC., and IBN Sina Medical Factory.
GCC Syringes and Needles Market: Key Developments
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