Global Butterfly Needle Sets Market - 2024-2031

Global Butterfly Needle Sets Market - 2024-2031

Global Butterfly Needle Sets market reached US$ YY million in 2023 and is expected to reach US$ YY million by 2031, growing at a CAGR of YY% during the forecast period 2024-2031.

Butterfly needle set is a device primarily used for venipuncture. It is a device used to draw blood from a vein or deliver intravenous (IV) therapy to a vein. These devices have advantages over straight needles when collecting blood or delivering IV fluid or medications.

For instance, they allow for more precise placement, particularly in hard-to-access veins. They can also be used to deliver intravenous fluids if the patient is dehydrated and either cannot drink fluids or cannot drink enough to compensate for fluid loss. Butterfly needles are useful for delivering medications (such as pain medications) straight into a vein or infusing IV therapies (such as chemotherapy or antibiotics) intravenously.

Market Dynamics: Drivers & Restraints

Increase in the prevalence of chronic diseases

Increased incidence of chronic diseases is expected to drive the market growth. An increase in chronic diseases increases the demand for blood tests, intravenous delivery of fluids and many other procedures that involve the use of butterfly needles. Regular monitoring for chronic conditions frequently involves blood tests to measure blood counts, cholesterol, and blood sugar.

For these tests, butterfly needles are the needle of choice since they are comfortable and easy to use, especially when drawing repeatedly. Regular injections of medicine, such as insulin for diabetes or growth hormones for certain disorders, are necessary for many chronic diseases. Butterfly needles lower the danger of needle-stick accidents while providing repeated injections with ease and safety.

For instance, according to the report by the Centers for Disease Control and Prevention in 2022, it is estimated that around 6 in 10 adults in US are suffering from chronic diseases and among them 4 in 10 adults suffer from more than two chronic diseases at a time. This increases the need for butterfly needle sets for the procedures required during the treatment. Thus, the above factors are expected to drive the market growth.

High cost of the butterfly needles

Compared to standard syringes and needles, butterfly needles are often more costly, particularly when it comes to sophisticated features like safety needles or pre-filled syringes. This can be a deterrent for consumers and healthcare professionals who are concerned about costs, especially in areas with little resources. Thus, it can hinder the market growth.

Segment Analysisn

The global butterfly needle sets market is segmented based on the type of needle gauges, applications, end-users and region.

The 25G butterfly needles segment is expected to dominate the market share

25G butterfly needles are expected to hold the dominant position in the market share due to their advantages and applications over the other types. Compared to lesser gauge needles (e.g., 22G, 21G), 25G needles have a smaller diameter, which makes them thinner and may cause less discomfort during insertion, particularly for youngsters or patients with delicate veins.

Due to their tiny size, they cause less tissue damage at the puncture site, which promotes quicker healing and may lessen swelling or bruises. Patients with thin or frail veins are best served by 25G needles since bigger needles may be difficult to place or may even induce vein collapse. For operations like certain blood draws or injections that need slower blood flow management, a smaller size could be desirable.

Because of the reduced size, there is less chance of unintentional vein injury during operations due to improved control and precision. Thus, the above factors are increasing the demand for 25G butterfly needles and are expected to hold the segment in the dominant position in the forecast period.

Geographical Analysis

North America is expected to hold a significant position in the butterfly needle sets market share

North America is expected to hold a dominant position in the market growth. There are several hospitals, clinics, and other medical institutions in the region that are furnished with cutting-edge tools and technology. The market is growing because of this strong infrastructure, which leads to an increase in the use of butterfly needle-based medical operations and treatments.

Chronic diseases like cancer and diabetes are very common in North America, which makes the use of butterfly needles in procedures increasingly common. For instance, according to the American Cancer Society, it is estimated that there will be around 2 million cancer cases in US in 2024. It is estimated that around 5,500 cancer cases will be diagnosed each day. Thus, the above factors are expected to hold the region in the dominant position in the market share.

COVID-19 Impact Analysis

COVID-19 has impacted the market growth positively. This is due to the increase in the vaccination campaigns during the period which has increased the demand for butterfly needles. Due to the lockdown, homecare setups by the individuals have been increased. Patients suffering from diabetes and other chronic diseases have used butterfly needle sets for intravenous infusions as they are safer than straight needles. However, supply chains have been affected due to the lockdown.

Market Segmentation

By Type of Needle Gauges
• 21G Butterfly Needles
• 23G Butterfly Needles
• 25G Butterfly Needles
• Others

By Applications
• Venipuncture
• Delivery of Medications
• IV Rehydration
• Blood Transfusion
• Others

By End-users
• Hospitals
• Blood Banks
• Pathology Labs
• Others

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Spain
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Competitive Landscape

The major global players in the market include Nipro Corporation, Medline Industries, Terumo Corporation, Cardinal Health, Becton, Dickinson and Company, Kawasumi Laboratories America, ZIBO ECONST MEDICAL INSTRUMENT CO., LTD., Al Shifa Medical Products Co, Vitaimed Instrument Co., Ltd., McKesson Medical-Surgical Inc. among others.

Why Purchase the Report?
• To visualize the global butterfly needle sets market segmentation based on the type of needle gauges, applications, end-users and region as well as understand key commercial assets and players.
• identify commercial opportunities by analyzing trends and co-development.
• excel data sheet with numerous data points of the butterfly needle sets market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global butterfly needle sets market report would provide approximately 55 tables, 58 figures and 180 pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies