South America Butterfly Needles Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Application (Blood Collection, IV Rehydration, Delivery of Medications, Venipuncture, and Blood Transfusion) and End User (Hospitals, Clinics, Blood Banks

South America Butterfly Needles Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Application (Blood Collection, IV Rehydration, Delivery of Medications, Venipuncture, and Blood Transfusion) and End User (Hospitals, Clinics, Blood Banks, and Others)

The South America butterfly needles market is expected to grow from US$ 17.14 million in 2022 to US$ 25.92 million by 2028. It is estimated to record a CAGR of 7.1% from 2022 to 2028.

Increasing Cancer Research to Drive South America Butterfly Needles Market

An intravenous (IV) needle is used to administer chemotherapy for cancer treatment. The medicine is administered directly into the bloodstream through a butterfly needle inserted into the upper arm or hand vein. Cancer is a major and increasing health problem, driving efforts of different national governments to address the problem. Cancer research primarily focuses on various opportunities, including studying populations that are at high risk of cancer, developing drugs and vaccines that do not require refrigeration, and establishing biobanks to manage biospecimens. A multi-level approach is required to advance clinical research, involving collaboration between the pharma industry, regulators, government, and healthcare professionals. Thus, increasing number of cancer cases and rising cancer-related research activities across the region are expected to provide lucrative South America butterfly needles market growth opportunities during the forecast period.

Market Overview

The South America butterfly needles market is segmented into Brazil, Argentina, and the Rest of South America. Brazil dominated the market in 2022. Autoimmune Diseases (ADs) are a complex and heterogeneous group of diseases characterized by the loss of immunological tolerance to their antigens and consequent tissue destruction by autoantibodies. Although there are ~80 AD types and at least 40 other diseases with an autoimmune basis, many are considered relatively rare. According to the National Library of Medicine 2019, Brazil's prevalence of autoimmune diseases was 673.6 cases per 100,000 inhabitants. The highest prevalence was identified for Hashimoto's thyroiditis (140.6 cases per 100,000), followed by vitiligo (132.4 cases per 100,000) and rheumatoid arthritis (105.9 cases per 100,000). Rheumatoid arthritis is diagnosed between 30 and 60 years, while psoriasis is diagnosed between 15 and 35 years. By sex ratio, females (69%) hold a larger share. The most affected age group was over 60 years (30.5%), with greater predominance in the urban area (81.3%). It is necessary to sample the blood of patients suffering from these diseases. Thus, the growing prevalence of disorders that require blood draws and drug infusion is boosting the South America butterfly needles market.

South America Butterfly Needles Market Revenue and Forecast to 2028 (US$ Million)

South America Butterfly Needles Market Segmentation

The South America butterfly needles market is segmented based on application, end user, and country.

Based on application, the South America butterfly needles market is segmented into blood collection, IV rehydration, delivery of medications, venipuncture, and blood transfusion. The blood collection segment held the largest market share in 2022.

Based on end user, the South America butterfly needles market is segmented into hospitals, clinics, blood banks, and others. The hospitals segment held the largest market share in 2022.

Based on country, the South America butterfly needles market has been categorized into Brazil, Argentina, and the Rest of South America. Our regional analysis states that Brazil dominated the market in 2022.

B. Braun SE, Becton Dickinson and Co, Cardinal Health Inc, ICU Medical Inc, Medline Industries Inc, Nipro Corp, and Terumo Corp are the leading companies operating in the South America butterfly needles market.

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