Gcc Syringes And Needles MarketSize and Trends

The GCC syringes and needles market 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).

Figure 1.GCC Syringes and Needles Market Share (%) in Terms of Value, by Product Type, 2022

The increasing prevalence of chronic diseases is expected to drive growth of the GCC syringes and needles market

Increasing prevalence of chronic diseases such as diabetes, cancer, cardiovascular diseases, and others increases the demand for syringes and needles for diagnosis and treatment of diseases, which is expected to drive growth of the syringes and needles market over the forecast period. For instance, according to an article published by International Diabetes Federation (IDF), in December 2021, 73 million adults were living with diabetes in the IDF Middle East and North Africa (MENA) region in 2021. The figure is estimated to increase to 95 million by 2030 and 136 million by 2045 in MENA region.

Figure 2. GCC Syringes and Needles Market Share (%), by Usability, 2022

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.

GCC Syringes and Needles Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization had declared it a public health emergency on January 30, 2020.

COVID-19 can affect the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, UAE, Egypt, and others, faced problems with regards to the transportation of products from one place to another

However, the COVID-19 pandemic had a positive effect on the GCC syringes and needles market, owing to the increased COVID-19 vaccination campaigns. For instance, according to the data provided by the National Emergency Crisis and Disaster Management Authority, in June 2022, the United Arab Emirates (UAE) had achieved the desired goal of the National COVID-19 Vaccination Campaign and announced the completion of 100 percent vaccination and immunization of the target groups in the country. The campaign’s aim was to vaccinate and immunize volunteers, frontliners, community members of the age groups specified according to the type of vaccine, the elderly and individuals with chronic diseases whose health condition allows them to take the vaccine.