The global butterfly needle sets market size is $166.60 million in 2019, and is expected to reach $320.02 million by 2027, registering a CAGR 8.20% from 2020 to 2027.
A butterfly needle is a device used to draw blood from an access vein or deliver intravenous (IV) therapy through a vein. These needles comprise hypodermic needle bilateral flexible wings and a connector, which is attached to a vacuum tube or collection bag to draw blood from an infusion pump. In addition, butterfly needles are advantageous to patients with bleeding disorders, such as hemophilia or von Willebrand disease. For instance, in the U.S., 17,757 people were diagnosed with hemophilia in 2018.Further, phlebotomists regularly use butterfly needles to obtain blood samples for complete blood counts (CBC), cholesterol tests, diabetes monitoring, STD screens, and other blood-based tests. These needles are also commonly used in blood banks for people who are there for blood donation. These needles are much easier to use and are less painful for patients. Thus, it reaches more body surface and tolerates more patient movement.
The coronavirus disease (COVID-19) suddenly spread across the globe. Further, the increase in the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) induced respiratory failure leading to COVID-19 disease, which has fueled the intensive care units (ICU) globally. Despite of that it has resulted in the several risks related to blood supply. For instance, there are several cases in which specific viral RNA could be detected in the serum from patients with COVID-19 and these findings suggested that blood donation may be an unexplored route of transmission. For instance, in March 20, 2020, WHO Guidance for National Blood Services on Protecting the Blood Supply during Infectious Disease Outbreaks. This has provided general guidance on the development of national plans to respond to any emerging infectious threats to the sufficiency or safety of the blood supply. Therefore, this resulted in the low impact of Covid-19 on the growth of butterfly needles market.
Major factors that drive the butterfly needle sets market growth are rise in prevalence of chronic diseases globally such as cancer, intravenous therapy, cardiovascular diseases, and bleeding disorders. In addition, need for managing long term medications and drug infusions are some of the other factors that boost growth of the market. However, lack of product innovations and regulatory standards and guidelines are required to be followed by phlebotomists hamper the market growth. Moreover, safety and convenience provided by these needles and treatments associated with butterfly needle, the market is expected to grow compared to the substitute products. In addition, in 2019, intraosseous needle trials were conducted for neonates (new born children), which has opened opportunities for new applications offer opportunities for the market growth during the forecast period.
Global Butterfly Needles Set Market Segmentation
The global butterfly needle blood collection set butterfly needle sets market is segmented on the basis of application, end user, and region. By application, it is segmented into blood transfusion, venipuncture, IV rehydration, and delivery of medications. By end user, it is segmented into hospitals, blood bank, and others. Region wise, the market is categorized into North America, Europe, Asia-Pacific, and LAMEA. These regions are further analyzed on the basis of respective countries.
By Application
Blood transfusion segment holds a dominant position in 2019.
Segment Review
On the basis of application, the blood transfusion segment dominated the butterfly needles set market, value in 2019, and its dominance in the market is expected to continue throughout the forecast period. This is attributed to increase in anemia and bleeding disorders such as hemophilia and cancer. In addition, rise in chemotherapy and geriatric patients whose veins are fragile and difficult to access leads to boost the blood transfusion segment in butterfly needle sets market growth.
By End User
Blood Bank segment is projected as one of the most lucrative segment.
On the basis of end user, the blood donation segment dominated the butterfly needles set market in 2019, and is expected to continue its growth during the forecast period. Owing to increase in use of butterfly needles in blood donation banks & camps, and rise in population who are interested in blood donation.
By Region
Asia-Pacific region would exhibit the highest CAGR of 9.3% during 2019-2027.
In 2019, Asia-Pacific accounted for largest butterfly needle sets market of the butterfly needles market and is expected to remain the highest revenue-generating region during the forecast period, owing to widespread adoption of butterfly needles, large pool of patients suffering from cancer and cardiovascular diseases, and rise in demand for blood transfusion. In addition, owing to rise in number of blood donors and increase in patient population across the region are further expected to boost the Asia-Pacific butterfly needle sets market. Further, North America was the second highest revenue-generating with a value $49.98 million in 2019 for butterfly needle sets market. Owing to as in 2018, around 17,757 people were diagnosed with hemophilia. In addition, Growth in healthcare awareness and well-established healthcare infrastructure and major key players for butterfly needles are expected to boost the growth of the market in North America for this market.
The global butterfly needles set market is highly competitive, and prominent players have adopted various strategies for garnering maximum butterfly needle sets market share. These include collaboration, product launch, partnership, and acquisition. Major players operating in the market include Braun Melsungen AG, Becton, Dickinson and Company, Nipro Corporation, Cardinal Health, Inc., Medline Industries, Inc., Terumo Corporation, Kawasumi Laboratories, Inc., ISOMed, and BioMatrix S.r.l.
Key Benefits For Stakeholders
- This report entails a detailed quantitative analysis along with current and future global butterfly needles set monitoring devices butterfly needle sets market trends from 2019 to 2027 to identify the prevailing opportunities along with the strategic assessment.
- The butterfly needles set butterfly needle sets market forecast is studied from 2019 to 2027.
- The butterfly needle sets market size and estimations are based on a comprehensive analysis of key developments in the industry.
- A qualitative analysis based on innovative products facilitates strategic business planning.
- The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the market.
Butterfly Needle Sets Market, by Application Report Highlights
| Aspects | Details |
 By Application |
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 By End User |
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 By Region |
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 Key Market Players | BIOMATRIX S.R.L., BECTON, DICKINSON AND COMPANY, CARDINAL HEALTH INC., TERUMO CORPORATION (TERUMO MEDICAL CORPORATION), MEDLINE INDUSTRIES, INC., ISOMED, BRAUN MELSUNGEN AG, KAWASUMI LABORATORIES, INC. (KAWASUMI LABORATORIES AMERICA, INC.), SMITH’S GROUP PLC, NIPRO CORPORATION (NIPRO MEDICAL CORPORATION) |
Analyst Review
In accordance to several interviews conducted, use of butterfly needles for blood collection and transfusion, chemotherapy treatment, plastic surgery for infusion has emerged as an effective measure for patients. Butterfly needles in plastic surgery can be used in multiple procedures such as saline infusion, irrigation of wound, and for continuous suction drain, which largely contributes to the growth of this market. Butterfly needles have a widespread acceptance in blood banks, especially for the person with small veins, which further intensifies the market growth. The market is driven by the growth in population with bleeding disorders.
Increase in advancements and safety of this equipment has resulted in the market growth. The use of butterfly needle is highest in Asia-Pacific region, and is expected to continue the growth during the forecast period, owing to surge in number of patients regarding the usage of butterfly needles at blood bank and in hospitals due to its comfort of use and ease of availability accompanied with the presence of leading players further fuels the market growth in this region.
The total market value of Butterfly Needle Sets market is $166.60 million in 2019.
The forcast period for Butterfly Needle Sets market is 2020 to 2027
The market value of Butterfly Needle Sets market in 2027 is $320.02 million.
The base year is 2019 in Butterfly Needle Sets market
Top companies such as, B. Braun Melsungen AG, Becton, Dickinson and Company, Nipro Corporation, Cardinal Health, Inc., Medline Industries, Inc, Terumo Corporation, Kawasumi Laboratories, Inc. held a high market position in 2019. These key players held a high market postion owing to the strong geographical foothold in different regions.
Blood transfusion segment is the most influencing segment owing to owing to the factors such as increase in anemia and bleeding disorders such as hemophilia and cancer. In addition, rise in chemotherapy and geriatric patients whose veins are fragile and difficult to access leads to the blood transfusion market growth.
The major factor that fuels the growth of the global Butterfly Needle Sets market includes The demand for Butterfly Needle Sets is on a rise, owing to surge in incidence of chronic diseases such as respiratory disorders & COPD and increasing population of smokers. Furthermore, rise in portable aerosol inhalers devices across the globe which contribute to the growth of the market.
Asia-Pacific has the highest growth rate in the market which is growing due to the contribution of the following emerging countries such as India with a CAGR of 9.3%. This is due to widespread adoption of butterfly needles and large pool of patients suffering from cancer and cardiovascular diseases and demand for blood transfusion.
A butterfly needle is a device used to provide access to superficial vein for drawing blood or for an IV injection.
The Butterfly Needle Sets are commonly used for drawing blood for testing purposes. For instanc, collecting blood samples such as complete blood counts (CBC), cholesterol tests, diabetes monitoring, STD screens, and other blood-based tests.
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