Butterfly Needle Sets Market Size, Share, Competitive Landscape and Industry Forecast, 2024-2027

PORTLAND, OREGON, UNITED STATES, July 15, 2024 /EINPresswire.com/ -- The global butterfly needle sets market, valued at $166.60 million in 2019, is projected to reach $320.02 million by 2027, registering a compound annual growth rate (CAGR) of 8.20% from 2020 to 2027.

Understanding Butterfly Needle Sets
Butterfly needles, also known as winged infusion sets, are specialized devices used for drawing blood or administering intravenous (IV) therapy. These sets feature a hypodermic needle with bilateral flexible wings and a connector that attaches to a vacuum tube or collection bag. This design ensures minimal discomfort for patients, making it particularly suitable for those with bleeding disorders like hemophilia or von Willebrand disease. In the U.S. alone, 17,757 individuals were diagnosed with hemophilia in 2018.

𝐆𝐞𝐭 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/request-sample/A06537

Market Drivers and Trends
The butterfly needle sets market is driven by several factors:

Increasing Prevalence of Chronic Diseases: The rising incidence of chronic illnesses such as cancer, cardiovascular diseases, and conditions requiring intravenous therapy has significantly boosted the demand for butterfly needles.
Safety and Convenience: These needles are known for their ease of use and reduced pain, making them a preferred choice in blood banks and for phlebotomists conducting various blood tests.
COVID-19 Impact: The pandemic led to heightened usage of butterfly needles in ICUs and other medical settings. However, concerns about blood supply safety due to potential viral RNA presence in blood donations have been noted by WHO.
Market Segmentation
The butterfly needle sets market is segmented by application, end user, and region:

By Application: The market is divided into blood transfusion, venipuncture, IV rehydration, and medication delivery. Blood transfusion dominated in 2019 due to increasing anemia and cancer cases, alongside the growing elderly population.
By End User: Segmentation includes hospitals, blood banks, and others. Blood banks lead the market due to the widespread use of butterfly needles in donation drives.
By Region: Asia-Pacific was the largest market in 2019, driven by a large patient pool and rising demand for blood transfusions. North America followed, with significant growth due to healthcare infrastructure and awareness.

Competitive Landscape

The butterfly needle sets market is highly competitive, with major players employing strategies such as collaborations, product launches, partnerships, and acquisitions to expand their market share. Key companies include:

Braun Melsungen AG
Becton, Dickinson and Company
Nipro Corporation
Cardinal Health, Inc.
Medline Industries, Inc.
Terumo Corporation
Kawasumi Laboratories, Inc.
ISOMed
BioMatrix S.r.l.
Future Prospects
Looking forward, innovations in needle design and new applications, such as intraosseous needle trials for neonates, present opportunities for market growth. The focus on safety, convenience, and managing chronic conditions will continue to drive the butterfly needle sets market's expansion.

In conclusion, the butterfly needle sets market is set for robust growth, fueled by increasing chronic disease prevalence, advancements in medical technology, and heightened awareness of blood donation safety.

𝐄𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A06537

David Correa
Allied Market Research
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