GCC Syringes and Needles Market, by Product Type (Oral and Hypodermic {Standard and Special Purpose [Insulin, Tuberculin, Angiographic, and Others]), by Usability (Disposable and Reusable), by Material (Glass and Polymer), by End User (Hospitals, Blood Collection Centers, Diabetic Care Center, Veterinary Care Center, and Others), and by Country (Kingdom of Saudi Arabia, U.A.E., Qatar, Bahrain, Oman, and Kuwait) is estimated to be valued at US$ 252.3 Million in 2022 and is expected to exhibit a CAGR of 9.1% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Increased prevalence of chronic diseases such as diabetes, cancer, cardiovascular diseases, and others in the region is expected to drive the market growth in the region over the forecast period. For instance, according to the data provided by the National Center for Biotechnology Information, in July 2022, breast cancer is the most commonly diagnosed cancer, accounting for 2.3 million new cases annually which makes up 11.7% of total new cancer cases in 2020, in United Arab Emirates (UAE)
GCC Syringes and Needles Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic had impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic
However, the COVID-19 pandemic had a positive impact on the GCC syringes and needles market, owing to the increased demand of COVID-19 vaccines. For instance, Abu Dhabi Medical Devices Company played a key global role in contributing to the fight against the COVID-19 pandemic, in collaboration with international organizations. The company supplied more than 500 million syringes and needles for the COVID-19 vaccine, which is equivalent to 25% of UNICEF and COVAX’s global needed for the year 2021.
Browse 69 Market Data Tables and 30 Figures spread through 224 Pages and in-depth TOC on “GCC Syringes and Needles Market”- Forecast to 2030, GCC Syringes and Needles Market, by Product Type (Oral and Hypodermic {Standard and Special Purpose [Insulin, Tuberculin, Angiographic, and Others]), by Usability (Disposable and Reusable), by Material (Glass and Polymer), by End User (Hospitals, Blood Collection Centers, Diabetic Care Center, Veterinary Care Center, and Others), and by Country (Kingdom of Saudi Arabia, UAE, Qatar, Bahrain, Oman, and Kuwait)
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https://www.coherentmarketinsights.com/market-insight/gcc-syringes-and-needles-market-3472
Moreover, increasing vaccination campaigns in the region is expected to drive the market growth in the country over the forecast period. For instance, in December 2020, Saudi Arabia launched its coronavirus vaccination campaign. Citizens aged 65 and above, professionals at higher risks of COVID-19 exposure, as well as people with immune deficiency and chronic disease were the first recipients of the vaccine.
Key Takeaways of the GCC Syringes and Needles Market:
- The GCC syringes and needles market is expected to exhibit a CAGR of 9.1% during the forecast period due to the increasing government initiatives to increase awareness about diseases such as diabetes. For instance, in November 2018, the Primary Health Care Corporation, an approved CPD Provider Organization by Qatar Council for Health Care Practitioners (QCHP), Ministry of Public Health, hosted awareness programs for better management of diabetes.
- Among product types, hypodermic segment is expected to dominate the segment growth over the forecast period, owing to the increasing approvals for prefilled syringes by the regulatory bodies to the key players. For instance, in January 2022, GSK plc., a multinational pharmaceutical company, announced that the U.S. Food and Drug Administration (FDA) had approved a 40 mg prefilled syringe of Nucala (mepolizumab) for children aged 6 to 11 years old suffering from eosinophilic asthma (SEA).
- Among countries, Kingdom of Saudi Arabia is estimated to account for the largest market share in the GCC syringes and needles market over the forecast period, owing to the increasing partnerships between key players in the country to increase the manufacturing syringes. For instance, in December 2021, Saudi Chemical Company Holding, an investment company, through its pharmaceutical sector represented by AJA Pharma, providing a wide range of pharmaceutical products in various finished dosage forms for different therapeutic classes, and Sanofi, a multinational healthcare company, signed a memorandum of understanding (MOU) to explore the possibility of manufacturing Sanofi’s Clexane prefilled syringes in the Kingdom of Saudi Arabia.
- Major players operating in the GCC syringes and needles market include 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
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