Butterfly Needles Market Size, Trends, Industry Analysis, Overview, Share And Forecast 2023 To 2030

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Market Overview:

Butterfly needles are slender hollow needle devices attached to flexible tubing used for intravenous access, collecting blood samples and administering medicines in healthcare facilities. They are safer alternative to normal needles due to low risk of needle injuries. Their ergonomic and flexible design facilitates easy blood sampling and IV administration with minimal pain.

The global Butterfly Needles Market is estimated to be valued at US$ 2.16 Bn in 2023 and is expected to exhibit a CAGR of 8.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. 

Market key trends:

Rising incidence of chronic diseases and increasing demand for minimal invasive surgeries are major factors driving the growth of butterfly needles market. Chronic diseases such as cancer, diabetes and cardiovascular diseases require long term medicinal treatment and blood monitoring that involves frequent use of intravenous devices like butterfly needles. Moreover, emergence of eco-friendly lead-free butterfly needles manufactured using biodegradable plastics and bio-compatible coatings on needles are further fueling the market growth. Growing awareness about patient safety and increasing preferences for single-use disposable needles to avoid infections are also contributing to market expansion.

Get more insights on this topic: https://www.coherentmarketinsights.com/market-insight/butterfly-needles-market-6169

Segment Analysis 

The global butterfly needles market is segmented on the basis of product, application, end-user, and region. By product, it is divided into plastic cannula and stainless steel cannula. The stainless steel cannula segment dominates the global market as stainless steel provides durability and strength. By application, the market is categorized into blood transfusion, drainage of body fluids, and injecting medications or IV fluids. Blood transfusion has the largest share as butterfly needles are majorly used for blood collection and transfusion. Based on the end-user, the market is segmented into hospitals, clinics, blood banks, and homecare. Hospitals hold the dominant share due to high number of surgical and diagnostic procedures carried out in hospitals.

Key Takeaways 

The global butterfly needles market size is expected to witness high growth, exhibiting CAGR of 8.7% over the forecast period, due to increasing number of intravenous drug administrations and blood sampling procedures.

By region, North America dominates the global market and is expected to retain its dominance over the forecast period. This is attributed to high healthcare spending and rising prevalence of chronic diseases. Asia Pacific exhibits the fastest growth due to growing geriatric population and improving healthcare infrastructure. 

Key players operating in the butterfly needles market are Alshifa Medical Syringes, Asahi Kasei Medical, Beijing PuYi Medical Technology Co, Bionic Medizintechnik, Biosigma SPA, Changzhou Zener Medtec, Demophorius Healthcare, Dialife SA, Epimed, F.B. Medical, Farmasol, HeBei ChaoRan Medical Instruments, HWTAi, Jiangsu Eyoung Medical Devices, Kawasumi, KB Medical Group, Lepu Medical Technology, Micsafe Medical, Nanchang Kindly Meditech, Nemoto, Nipro, NxStage Medical, Oscar Boscarol, PakuMed Medical Products, and Sunrise Medical Technology. These players are focusing on new product launches and geographical expansion to strengthen their market presence.

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