Butterfly Needles Market Revenue to Cross $309.647 Million, Globally, by 2028 – Exclusive Report by The Insight Partners

The global butterfly needles market size is driven by increasing cancer research globally, rise in prevalence of chronic diseases and advantages of butterfly needles over straight needles.

New York, Feb. 09, 2023 (GLOBE NEWSWIRE) -- According to The Insight Partners, “Butterfly Needles Market Size, Share, Growth, Trends and Global Forecasts to 2028 - COVID-19 Impact and Global Analysis By Application (Blood Collection, Blood Transfusion, Venipuncture, IV Rehydration, and Delivery of Medications) and End User (Hospitals, Clinics, Blood Banks, and Others)”; the global butterfly needles market share is expected to grow from USD 178.164 million in 2021 to USD 309.647 million by 2028; it is estimated to grow at a CAGR of 8.3% from 2022 to 2028.

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Global Butterfly Needles Market – Report Scope:

Market Size Value inUSD 178.164 Million in 2021
Market Size Value byUSD 309.647 Million by 2028
Growth rateCAGR of 8.3% from 2022 to 2028
Forecast Period2022-2028
Base Year2021
No. of Pages158
No. of Tables57
No. of Charts & Figures70
Historical data availableYes
Segments coveredApplication, and End User

The COVID-19 pandemic placed a tremendous strain on healthcare systems globally. To decrease the risk of transmitting the virus to patients or healthcare workers within their practice, providers postponed elective and preventive visits, such as annual physicals, and converted in-person visits to telemedicine visits whenever possible. Many patients also started avoiding visits because they were unwilling to leave their homes and risk exposure. However, the butterfly needles market will remain attractive in the long run. The pandemic increased the number of hospitalizations globally, and butterfly needles are widely used for drug delivery to chronic patients. Moreover, various advantages offered by butterfly needles further created the demand for butterfly needles on the global level. However, the rising number of COVID-19 cases and stringent preventive measures imposed by governments affected the production and supply chain of butterfly needles, temporarily affecting the growth of the butterfly needles market. With the rollout of COVID-19 vaccines, the government changed the preventive policies, butterfly needles increasing the production of butterfly needles and driving the market.

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Butterfly Needles Market: Segmental Overview

Based on application, the butterfly needles market is segmented into blood collection, blood transfusion, venipuncture, IV rehydration, and delivery of medications. The blood collection segment held the largest share of the market in 2021 and is expected to grow at the highest CAGR during the forecast period.

Based on end user, the butterfly needles market is segmented into hospitals, clinics, blood banks, and others. The hospitals segment held the largest market share in 2021 and is anticipated to register the highest CAGR of 9.1% in the market during the forecast period.

In 2021, North America dominated the butterfly needles market. The US holds the largest share of the market in this region. Blood collection using butterfly needles is typically performed on children, older patients, and some adults with thin veins. It is also the recommended needle type for patients with rolling veins or those who are hesitant about needles. For instance, the ClickZip Safety Butterfly Needle is a high-quality needle, free from latex and DEHP, and simple and safe to use. In the US, blood donation is regulated by the FDA and the American Association of Blood Banks to ensure the blood donation process is safe. According to American Blood Centers, an estimated 6.8 million people in the U.S. donate blood yearly. There are 13.6 million units of whole blood and red blood cells collected in the U.S. annually. According to the American Red Cross, after every two seconds, someone in the U.S. requires a blood transfusion. Therefore, the butterfly needles market is expected to grow with the rise in blood donations in the U.S. Unfortunately, current blood shortages are leading to delayed critical blood transfusions for needy people.

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Rise in Prevalence of Chronic Diseases

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 needle. 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 along with medication administration 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.

Further, diabetes is another life-threatening chronic disease with no functional cure. Diabetes can lead to various complications in different body parts and increase the overall risk of premature death. Heart attack, stroke, kidney failure, leg amputation, vision loss, and nerve damage are the major complications associated with diabetes. According to the International Diabetes Federation (IDF), in 2021, there were ∼537 million adults living with diabetes worldwide. The number is anticipated to increase to 643 million by 2030 and 783 million by 2045. Often, insulin is administered through butterfly needles, as they are smaller and thinner than an intravenous (IV) catheter and have smaller gauge sizes, ranging from 18 to 27 gauge on average. Thus, the growing prevalence of chronic diseases requiring blood draws, long-term medications, and drug infusions is boosting the growth of the global butterfly needles market.

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