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.
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.
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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.
Key Takeaways:
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.
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.
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Market Trends
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.
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
August 2019: Morimoto Pharma
launched new prefilled syringe product, the Morimoto S.A.F.E. Syringe Kit
August 2018: Credence MedSystems
raised US$ 12.8 million in financing through a series B round for expanding
manufacturing of its injectable drug delivery devices
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