Global Butterfly Needles Market- Market Overview:

The global butterfly needles market is expected to grow from USD 187.7 million in 2022 to USD 285.8 million by 2030, at a CAGR of 5.4% during the Projection period 2023-2030. The growth of this market is mainly driven owing to the rising demand for butterfly needles in cancer treatment.

For intravenous injections or blood draws, butterfly needles are used, which are known for their winged design, which makes them easy to handle and more stable while in use. Healthcare professionals can use the wings on the needle to hold the needle in place when inserting it into a patient's vein. The smaller size of the butterfly needles makes it easier to locate and access veins for patients with difficulty locating veins or with small veins, making them particularly useful for those patients. They are considered safe and effective and are widely used in medicine. New butterfly needles have been introduced into the market over the years, providing several advantages over other types of needles. Currently, butterfly needles feature a slide-and-lock sheath that slides over a needle when it is extracted from a vein. This prevents needlestick injuries and allows the needle to be reused. Additionally, the growing geriatric population and increased prevalence of diseases increase the demand for butterfly needles. In the global butterfly needleless market, the rise in chronic diseases and health benefits associated with butterfly needleless are major drivers, however, the risk of butterfly needlestick injuries is hampering the market growth.

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Market Dynamics:

Drivers:                          

• Benefits of using butterfly needles over straight needles

One of the important factors expected to intensify the growth and demand for butterfly needle sets is the numerous benefits compared to straight needles, such as convenience and safety. As well as that, chronic diseases such as cancer, cardiovascular disorders, and bleeding disorders are expected to increase over the Projection period, contributing to the global market's growth.

Restraints:         

• Lack of trained professionals

Development and underdevelopment economies will face major challenges due to a shortage of skilled medical professionals and high costs associated with research and development capabilities, which will hinder the market growth.

Opportunities:

• Rising pediatric disorders

According to UNICEF, approximately 274,000 children under the age of five died of malaria in 2019, accounting for 67% of global malaria deaths in 2019. A combination of the growing number of pediatric disorders and the increased use of butterfly needle sets for medication and nutrition delivery is contributing to the growth of the butterfly needle market.

Challenges:

• Lack of product innovation

The butterfly needles market is witnessing immense growth but there are some factors which are challenging the growth of the market. Butterfly needle market growth is expected to be constrained by strict regulatory requirements and a lack of product innovation, while the growing trend of using refurbished equipment may pose challenges.

Segmentation Analysis:

The global butterfly needles market has been segmented based on application, end-user, and region.

By Application

The application segment includes blood transfusion, IV rehydration, blood collection, delivery of medications, and venipuncture. The blood transfusion segment led the largest share of the butterfly needles market with a market share of around 29.6% in 2022. Butterfly needles set market value in 2021 was dominated by the blood transfusion segment on the basis of application, and this dominance is expected to continue throughout the Projection period. As a result of anaemia and bleeding disorders, such as haemophilia and cancer, this trend is expected to continue. The rise in chemotherapy and geriatric patients with fragile veins also boosts growth for butterfly needle sets in the blood transfusion segment.

By End-User

The end-user segment includes blood banks, clinics, hospitals and others. The clinic’s segment led the largest share of the butterfly needles market with a market share of around 32.4% in 2022. Since there is an increasing demand for minimally invasive procedures requiring thin gauge needles, the clinic segment dominated the market in 2021 and this will continue throughout the Projection period. Injectable Therapeutics (IT) are performed in clinics with butterfly needles since they provide faster drug absorption than conventional insulin pen injectors.

Global Butterfly Needles Market - Sales Analysis.

The sale of butterfly needles expanded at a CAGR of 4.7% from 2016 to 2022.

A substantial growth opportunity is expected for the butterfly needle sets market in the Projection period as investments are made to modernize healthcare infrastructure and chronic diseases are prevalent in developing countries.

In developing countries, governments are making large investments to upgrade their healthcare infrastructure. As a result, access to healthcare will increase, which will increase the demand for butterfly needle sets.

For cholesterol testing, a butterfly needle is used, as high cholesterol can lead to heart attacks and strokes. The World Heart Federation estimates that high cholesterol causes 4.4 million deaths every year (7.8% of all deaths) and that high LDL cholesterol accounts for 24% of cardiovascular-related deaths.

Thus, owing to the aforementioned factors, the global butterfly needles market is expected to grow at a CAGR of 5.4% during the Projection period from 2023 to 2030.

By Regional Analysis:

The regions analyzed for the butterfly needles market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North American region dominated the butterfly needles market and held a 38.5% share of the market revenue in 2022.

• The North American region witnessed a major share. The butterfly needle market is dominated by the North American region due to chronic disease prevalence and well-established healthcare infrastructure. The US dominated the butterfly needle market in North America, where butterfly needles were used primarily for blood collection on children, older patients, and adults with thin veins. Butterfly needles are also recommended for patients with rolling veins or those who are apprehensive about needles.
• Asia Pacific is anticipated to experience significant growth during the predicted period. Healthcare infrastructure and rapid ageing of the geriatric population combined with chronic diseases are predicted to drive growth in Asia-Pacific over the Projection period. Due to low treatment costs, the growing medical tourism industry should also boost demand for medical devices, such as butterfly needles, resulting in regional growth.

Global Butterfly Needles Market - Country Analysis:

• Germany

Germany's butterfly needles market size was valued at USD 13.6 million in 2022 and is expected to reach USD 20.8 million by 2030, at a CAGR of 5.5% from 2023 to 2030.

All legal & German residents are entitled to free medical help, and it is funded by a statutory contribution system. The medical insurance coverage system includes outpatients, inpatients, medical health, and prescription drugs, and it is mandatory for all residents to have it. A growing number of chronic disorders such as cancer, cardiovascular disorders, and neurological conditions have resulted in increased hospitalizations in Germany, fueling the growth of the butterfly needles market.

• China

China’s butterfly needles market size was valued at USD 14.64 million in 2022 and is expected to reach USD 22.9 million by 2030, at a CAGR of 5.8% from 2023 to 2030.

A growing population and an increasing prevalence of metabolic risk factors are exerting pressure on China. Consequently, CVD and diabetes burdens are expected to rise, creating new demand for butterfly needles to be developed and applied for blood testing in China, and the market for butterfly needles in China is also boosted by the growing presence of local key players.

• India

India's butterfly needles market size was valued at USD 11.26 million in 2022 and is expected to reach USD 17.5 million by 2030, at a CAGR of 5.7% from 2023 to 2030.

A growing geriatric population, the growing prevalence of diabetes, and the expansion of the country's players are expected to propel the butterfly needles market. Over the Projection period, R&D activities and technological innovations are expected to boost the butterfly needles market.

Key Industry Players Analysis:  

To increase their market position in the global butterfly needles market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.

• Demophorius Healthcare
• BD
• Medline
• Kangjin Medical Instrument
• Advin Urology
• Narang Medical Limited
• Kawasumi
• Angiplast
• Nipro Europe Group Companies
• AdvaCare Pharma
• Cardinal Health

Latest Development:

• In January 2022, With the acquisition of Smiths Medical from Smiths Group plc, ICU Medical Inc. acquired the company, which produces syringes, ambulatory infusion devices, vascular access products, and vital care products. Providing a single-use butterfly needle, Saf-T Wing Butterfly needles have made ICU Medical a leader in infusion therapy with a broader global presence.
• In June 2020, An UltraTouch Push Button Blood Collection Set with Pre-Attached Holder was launched by Becton Dickinson Benelux NV. This pre-attached holder helps prevent accidental needlestick injuries caused by nonpatient needles (tube-side), while ensuring compliance with OSHA's single-use requirements.

Report Metrics

Report Attribute	Details
Study Period	2022-2030
Base year	2022
CAGR (%)	5.4%
Market Size	187.7 million in 2022
Projection period	2023-2030
Projection unit	Value (USD)
Segments covered	By Application, By End-User, and By Region.
Report Scope	Revenue Projection, competitive landscape, company ranking, growth factors, and trends
Companies covered	Demophorius Healthcare, BD, Medline, Kangjin Medical Instrument, Advin Urology, Narang Medical Limited, Kawasumi, Angiplast, Nipro Europe Group Companies, AdvaCare Pharma, and Cardinal Health.
By Application	Blood Transfusion IV Rehydration Blood Collection Delivery Of Medications Venipuncture
By End-User	Blood Banks Clinics Hospitals Others
Regional scope	North America Europe Asia-Pacific South America Middle East and Africa

Scope of the Report

Global Butterfly Needles Market by Application:

• Blood Transfusion
• IV Rehydration
• Blood Collection
• Delivery Of Medications
• Venipuncture

Global Butterfly Needles Market by End-User:

• Blood Banks
• Clinics
• Hospitals
• Others

Global Butterfly Needles Market by Region:

• North America
  • USA
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Russia
• Asia-Pacific
  • Japan
  • China
  • India
  • Korea
  • Southeast Asia
• South America
  • Brazil
  • Peru
• Middle East and Africa
  • UAE
  • South Africa
  • Saudi Arabia