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The Butterfly Needles Market comprise of medical devices that are used for intravenous access. These needles have an integrated plastic cannula with wings on both sides for stabilizing the needle during insertion. Butterfly needles offer hassle-free insertion of intravenous catheterization as compared to conventional needles owing to their ergonomic design. They enable simple phlebotomy procedures and administration of fluids, medications and blood samples.
The Global Butterfly Needles Market is estimated to be valued at US$ 2.16 Bn in 2024 and is expected to exhibit a CAGR of 8.7% over the forecast period 2023 to 2030.
Key Takeaways
Key players operating in the Butterfly Needles 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. The growing demand for these needles can be attributed to the rising prevalence of chronic diseases such as cancer, cardiovascular diseases and diabetes which require frequent phlebotomy procedures. Moreover, technological advancements such as ergonomic designs, lightweight materials and safety mechanisms are further augmenting the market growth.
Market Trends
The butterfly needles market is witnessing a trend of increased demand for portable butterfly needles which provide convenient phlebotomy procedures at home care settings. Manufacturers are also focusing on developments such as anti-reflux valves, retractable safety wings and compact designs to prevent needlestick injuries. Another key trend is the incorporation of antimicrobial coating on butterfly needles to prevent infections during intravenous access procedures.
Market Opportunities
The butterfly needles market presents significant opportunities owing to the rising geriatric population susceptible to chronic diseases. Furthermore, increasing healthcare expenditures in emerging nations provides a lucrative growth landscape. Manufacturers could gain advantages by developing single-use butterfly needles kits integrated with IV catheters and solutions to offer a one-stop solution for phlebotomy needs. Expanding distribution networks in developing regions also presents profitable opportunities.
Impact of COVID-19 on Butterfly Needles Market Growth
The COVID-19 pandemic has significantly impacted the butterfly needles market. In the initial months of the pandemic, the market witnessed a decline in growth due to deferment of non-essential surgeries and medical procedures. This led to a decline in demand for butterfly needles which are primarily used for blood sampling procedures. However, with the rise in number of COVID-19 cases, the demand for butterfly needles increased for drawing blood samples of infected patients and performing various tests.
The key factors that contributed to the market growth during the pandemic include increased testing and screening of COVID-19 patients, rising number of hospital admissions, and growing focus on plasma therapy as a potential treatment option for infected patients. Healthcare facilities ramped up their testing capabilities which augmented the need for short peripheral venous catheters like butterfly needles. Moreover, plasma donation drives gathered momentum as convalescent plasma therapy emerged as an investigational treatment for coronavirus. This further propelled the demand for butterfly needles.
Despite initial disruptions, the pandemic has brought renewed focus on strengthening healthcare infrastructures globally. This has highlighted the need for adequate stocks of essential medical devices like butterfly needles. Manufacturers are emphasizing on leveraging digital platforms to streamline supply chain operations and ensure uninterrupted supplies. Going forward, factors like increasing investments towards expanding testing capacities, focus on preparedness for future pandemics, and growing awareness about plasma therapy are expected to support the post-COVID growth of the butterfly needles market.
Geographical Regions with High Concentration of Butterfly Needles Market
North America holds the largest share of the global butterfly needles market, both in terms of value and volume. This is attributed to factors like well-established healthcare systems, rising prevalence of chronic diseases, growing elderly population undergoing medical procedures, and presence of leading market players. Within the region, the United States accounts for the major market share owing to high accessibility to advanced healthcare services and widespread adoption of minimally invasive procedures utilizing short venous catheters.
Asia Pacific is poised to be the fastest growing regional market for butterfly needles during the forecast period. Increasing healthcare expenditures, rapid economic development, rising medical tourism, growing focus on quality healthcare infrastructures are some of the key factors driving the regional market. Moreover, the ongoing pandemic has accelerated investments towards strengthening diagnostic testing capacities across developing nations like India and China, augmenting the demand for butterfly needles.
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