The "Butterfly Needles Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Application and End User" report has been added to ResearchAndMarkets.com's offering.
The butterfly needles market is expected to grow from US$ 178.16 million in 2021 to US$ 309.65 million by 2028; it is estimated to grow at a CAGR of 8.3% from 2022 to 2028.
The growth of the global butterfly needles market is driven by the rise in the prevalence of chronic diseases and the advantages of butterfly needles over straight needles. However, the risk associated with butterfly needles stick injuries is hampering the market growth.
Butterfly needles are devices used for drawing blood or administering medications in veins. Patients who may be difficult to venipuncture, such as older adults, infants, and children, are often given butterfly needles. A butterfly needles is also known as a winged infusion set or a scalp vein set, as it has plastic wings on either side of the hollow needles. With their winged tubing structure, which allows greater flexibility, butterfly needles are much easier to use and less painful. Additionally, butterfly needles are commonly used to draw blood or administer medication for babies, young children, and the elderly.
According to the latest data from the World Health Organization, cardiovascular diseases account for most non-communicable disease-related deaths (?17.9 million people each year), followed by cancers (?10 million), chronic respiratory diseases (4.1 million), and diabetes (2 million, including deaths associated with the kidney). As per the same source, cancer is one of the leading causes of death globally, which accounted for nearly 10 million deaths in 2020, or nearly one in six deaths. Cancer can be identified by tumor marker tests which use a blood sample to look for chemicals made by cancer cells; butterfly needles are used to draw blood and administer medication among cancer patients.
Furthermore, a butterfly needles is used for drawing blood for cholesterol testing. High cholesterol can cause heart attack and stroke. According to the World Heart Federation, high cholesterol causes 4.4 million deaths yearly (7.8% of all deaths), and ?24% of cardiovascular-related deaths are attributable to high LDL cholesterol.
Blood supply, a commodity required for the survival of many patients, is one of the primary areas of healthcare systems that have been impacted. Trauma, renal impairment, cancer, sickle cell anemia, hemorrhagic shock, and other medical diseases involving acute or chronic blood loss necessitate using blood and blood products such as cryoprecipitate, plasma, immune globulins, and platelets. Some blood transfusion centers missed their blood collection targets due to the COVID-19 pandemic.
Application-Based Insights
Based on application, the butterfly needles market is categorized into blood collection, IV rehydration, delivery of medications, venipuncture, and blood transfusion. The blood collection segment held the largest market share of 34.3% in 2021.
End User-Based Insights
Based on end user, the butterfly needles market is segmented into hospitals, clinics, blood banks, and others. The hospitals segment accounted for the largest market share in 2021, and it is expected to register the highest CAGR of 9.1% during the forecast period.
A few of the major primary and secondary sources referred to while preparing the report on the butterfly needles market are the World Health Organization (WHO), the US Census Bureau, and the US National Library of Medicine, among others.
A selection of companies mentioned in this report includes
- B. Braun SE
- Becton Dickinson and Co
- Nipro Corp
- Cardinal Health Inc
- Medline Industries Inc
- Terumo Corp
- SB-Kawasumi Laboratories Inc
- ICU Medical Inc
- ISO-MED Inc
-
Vogt Medical Vertrieb GmbH
For more information about this report visit https://www.researchandmarkets.com/r/dzliu4-needles?w=4
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View source version on businesswire.com: https://www.businesswire.com/news/home/20230130005420/en/
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