GCC SYRINGES AND NEEDLES MARKET ANALYSIS

Companies

The increasing investments by key players in the region for medical equipment including syringes manufacturing are expected to drive the market growth during the forecast period

The increased efforts by the key players in the country such as investments to manufacture medical equipment for global export is expected to drive the market growth in the region over the forecast period. For instance, in October 2022, U.A.E. committed US$ 70 Mn for medical equipment manufacturing and its global export. As a part of the initiative, PureHealth, healthcare providers in the UAE, entered in partnership with Abu Dhabi Medical Devices Company (ADMD), Abu Dhabi Ports Group and polymers supplier Borouge to work with them for the creation of a medical supplies production line in Abu Dhabi. Currently at the memorandum of understanding (MoU) stage, it will see Borouge, a joint venture of Abu Dhabi National Oil Company (Adnoc) and Austria-based Borealis, deliver the raw materials while Abu Dhabi Ports Group, a company serving as the region’s premier facilitator of logistics, industry, and trade, as well as a bridge linking Abu Dhabi to the world, will provide the industrial land required to set up a factory that will produce syringes, administration devices and blood collection tubes. In the second, separate deal, PureHealth and pharmaceutical company Julphar will establish the first factory in the Middle East to produce Glargine, a long-acting biological alternative to insulin used in the treatment of diabetes.