The MENA Syringes and Cannula market is expected to exceed US$ 1.2 billion in 2020, with a CAGR of close to 6.4% over the forecast period (2021-2031).
Increasing preference for elective medical procedures and surgeries, as well as rising medical supply consumption, are driving demand for cost-effective equipment and healthcare supplies.
The COVID-19 pandemic increased hospitalisation rates, and MENA saw a surge in demand for medical supplies such as syringes, cannulas, and personal protective medical equipment. With an increase in overall medical supply consumption, the region is seeing a growing trend toward the use of syringes and cannulas, boosting the market.
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For single-use cases, medical products such as syringes and cannulas are used to prevent the spread of infectious agents and contaminants to providers and patients. This factor reduces the average duration of such product use while increasing the demand for syringes and cannulas in medical settings.
According to an FMI analyst, “rising diabetes incidence and growing preference for cosmetic surgeries among individuals are expected to create opportunities for growth in the MENA syringers & cannula market.”
Key Takeaways:
- In 2020, the medical protective equipment segment accounted for 59.8% of the total market share.
- In 2020, the disposables segment accounted for 87.3% of the MENA syringes & cannula market.
- In terms of distribution channels, institutional sales are the dominant segment, accounting for approximately 63.8% of the total market share in 2020.
- Saudi Arabia held 16.2% of the total market share in 2020, a trend that is expected to continue throughout the forecast period.
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Competition Landscape
- To gain a competitive advantage, key players in the MENA syringes & cannulas market are launching novel products. They are also expanding their footprint through mergers, acquisitions, and collaborations. As an example:
- • In June 2021, Becton Dickinson and Company received an order for needles and syringes to participate in a vaccination drive in 40 countries, including Saudi Arabia, Germany, and South Africa. • In August 2021, Hindustan Syringes and Medical Devices Ltd met a milestone target of producing 1 billion auto-disposable syringes for COVID 19 vaccinations. The company now has the capacity to produce 50 crore AD syringes per year.
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Future Market Insights brings a comprehensive research report on forecasted revenue growth at MENA, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2030. The MENA syringes & cannula market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The study offers compelling insights into the MENA syringes and cannula market segmentation based on product (syringes [disposable hypodermic syringes, auto disposable syringes, safety syringes, prefilled syringes, and insulin syringes], cannulae [neonatal cannulae, straight cannulae, winged cannula
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About Healthcare Division at Future Market Insights
Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business. Know more about our sector coverage here.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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