There are several types ofsyringes such as luer lock, luer slip, catheter tips, and insulin syringe. Themost 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.
GCCSyringes and Needles Market is estimated to account for US$ 434.6 Mn interms of value in 2018 and is expected to reach US$ 961.7 Mn by the end of2027.
GCC Syringes and Needles Market:Drivers
Significant prevalence ofinfectious diseases and the proportion of patients linked to care is expectedto boost demand for disposable single use syringes and needles, therebypropelling 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 theInternational Journal of Infectious Diseases in September 2019, the estimatednumber of people living with HIV in Oman was 3030 and the proportion ofpatients 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 theform of prefilled syringes is expected to offer lucrative growth opportunityfor players in GCC syringes and needles market. Currently, more than 100 drugsand vaccines are available in prefilled syringes across different therapeuticclasses.
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GCC Syringes and Needles Market:Restraints
R&D and launch of needle-freeinjectors is expected to hinder growth of the market. For instance, in December2019, Nephron Pharmaceuticals Corporation partnered with National MedicalProducts Inc., a developer of J-Tip Needle Free Injector, to provide patientsquality care through virtually pain-free anesthetic.
Key Takeaways:
Hypodermic segment in GCCsyringes and needles market was valued at US$ 381.5 Mn in 2018 and is expectedto reach US$ 873.2 Mn by 2027 at a CAGR of 9.8% during the forecastperiod. Hypodermic route ofadministration is expected to dominate over the forecast period owing tofactors such as bypassing of gastrointestinal tract, and direct access of drugin to the blood circulatory system.
The disposable segment helddominant position in GCC syringes and needles market in 2018, accounting for80.2% 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 withnew syringes and needles.
The polymer segment held dominantposition in GCC syringes and needles market in 2018, accounting for 97.3% sharein terms of value, followed by glass respectively. Polymer raw material offersadvantages such as durability, no breakage, and can be manufactured indifferent colour patterns. These factors are expected to support growth of thesegment over the forecast period.
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Market Trends
Use of safety syringes isincreasing due to awareness about the advantages of safety syringes and needlesover conventional syringes and needles. Safety syringes have a safety mechanismbuild into the syringes such as luer lock, sheath over the needles, needlecappers, splatter effect in syringes and automated plunger.
Major players in the market arefocused on adopting strategic partnerships. For instance, in May 2019, NiproCorporation announced its plans to invest US$ 21 million in JMI Syringes tobecome its strategic partner.
GCC Syringes and Needles Market:Competitive Landscape
Major players operating in GCCsyringes and needles market include, Becton, Dickinson and Company (BD), NiproCorporation, Baxter International Inc., B. Braun Melsungen AG, TerumoCorporation, Medtronic plc., Smiths Group plc., Abu Dhabi Medical DevicesCompany, SAAPP (FZC) LLC., and IBN SinaMedical Factory.
GCC Syringes and Needles Market:Key Developments
August 2019: Morimoto Pharmalaunched new prefilled syringe product, the Morimoto S.A.F.E. Syringe Kit
August 2018: Credence MedSystemsraised US$ 12.8 million in financing through a series B round for expandingmanufacturing of its injectable drug delivery devices
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