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GCC Syringes & Needles Market | Coherent Market Insights

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GCC Syringes & Needles Market | Coherent Market Insights

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  1. Coherent Marketing Insights https://www.coherentmarketinsights.com/ Market Research & Business Consulting Services Covid-19 Impact Tracker

  2. GCC SYRINGES & NEEDLES MARKET ANALYSIS GCC Syringes & Needles Market, By Product Type (Oral, Hypodermic (Standard, Special Purpose (Insulin, Tuberculin, Angiographic, Others))), By Usability (Disposable, Reusable), By Material (Glass, Polymer), By End User (Hospital, Blood Collection Centers, Diabetic Care Center, Veterinary Care Center, Others) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

  3. GCC Syringes and Needles Market: Drivers High prevalence of chronic diseases is expected to propel growth of GCC syringes and needles market over the forecast period. For instance, according to the World Health Organization, Saudi Arabia recorded 24,485 new cases of cancer and 10,518 deaths due to the disease in 2018. Moreover, increasing number of hospitals and other healthcare institutions is also expected to aid in growth of the market. For instance, the Government of Saudi Arabia plans to double the number of qualified Saudi nurses by 2020 and increase the number of licensed medical facilities from 40 to 100 by 2020 under Vision 2030 and the National Transformation Program. Kingdom of Saudi Arabia (KSA) held dominant position in the GCC syringes and needles market in 2018, accounting for 73.6% share in terms of value, followed by UAE.

  4. GCC Syringes and Needles Market: Restraints Reuse of disposable syringes is expected to hinder growth of GCC syringes and needles market over the forecast period. Syringes and needles are majorly used for the applications such as injection, infusion, and blood collection. For the aforesaid applications, disposable syringes are used repeatedly due to less awareness about patient health and safety and spread of diseases and cost effectiveness, which can ultimately hamper growth of the market. Interaction of prefilled syringes with drugs and its diluents is a major concern as it creates stability issue with regards to drugs. In prefilled syringes, interaction between chemicals of drugs and physical properties of the materials used to manufacture syringes such as polymer and glass materials may adversely affect the actual properties of drugs and result in harm to the end user. This in turn may adversely impact growth of the market.

  5. GCC Syringes and Needles Market: Opportunities Increasing self-administration of medication is expected to offer lucrative growth opportunities for players in GCC syringes and needles market. Patients are preferring self-administration of drugs, due to ease in self-administration of drugs using prefilled syringes. Availability of disposable sterile syringes and needles to patients through vending machines for self-administration of drugs, where access to syringes and needles through vendors is difficult 24X7, can also emerge as an opportunity for market players.

  6. Market Trends/Key Takeaways Plastic syringes are increasingly preferred over glass syringes as plastic syringes are easy to use, are highly resistant to breakage, and are more economically priced compared to glass syringes. Moreover, plastic syringes are easy to transport due to their light weight and the probability of accidental injuries is less while handling plastic syringes compared to glass syringes. Demand for single use prefilled syringes and needles is significantly increasing due to simplicity in administration. Moreover, single use prefilled syringes and needles are suitable for home use.

  7. Value Chain Analysis

  8. Various industry stakeholders are involved in the value chain of GCC syringes and needles market such as raw material suppliers, manufacturers, importers, distributors, wholesalers, and retailers • GCC countries rely on imported syringes and needles, owing to lack of manufacturing facilities for such products in the region to meet demand for syringes and needles from end users • “Value chain-1” has become the shortest and profitable value chain due to less intermediates • Irrespective of unfavorable conditions, few local manufacturers are involved in manufacturing activities in the GCC as represented by “value chain-2”, which is less preferable, owing to less profit margin as compared to “value chain-1”

  9. GCC Syringes and Needles Market: Key Developments Major players in the market are focused on launching new products to expand their product portfolio. For instance, in February 2020, Fresenius Kabi launched Glucagon Emergency Kit, which includes Glucagon for Injection 1 mg and a prefilled glass syringe with 1 mL of Sterile Water for Injection, USP. In November 2018, Baxter International Inc. launched the Tisseel Prima syringe at the 2018 American Association of Gynecologic Laparoscopists (AAGL) meeting. 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

  10. Request Sample Report Request Customization Download PDF Brochure Talk to Analyst Referance: https://www.coherentmarketinsights.com/market-insight/gcc-syringes-and-needles-market-3472

  11. About Us Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having office at global financial capital in the U.S. Our client base includes players from across all business verticals in over 150 countries worldwide. What We Provide:Customized Market Research AnalysisIndustry Analysis ServicesBusiness Consulting ServicesLong Term Engagement ModelCountry Specific Analysis

  12. Contact Us Mr. Shah Coherent Market Insights Pvt. LTD.Coherent Market Insights 1001 4th Ave, #3200 Seattle, WA 98154, U.S.Phone: +1-206-701-6702 Email: sales@coherentmarketinsights.com

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