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.
Get Exclusive Sample Pages of Butterfly Needles Market Size - COVID-19 Impact and Global Analysis with Strategic Insights at https://www.theinsightpartners.com/sample/TIPRE00023931
Global Butterfly Needles Market – Report Scope:
| Market Size Value in | USD 178.164 Million in 2021 |
| Market Size Value by | USD 309.647 Million by 2028 |
| Growth rate | CAGR of 8.3% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
| No. of Pages | 158 |
| No. of Tables | 57 |
| No. of Charts & Figures | 70 |
| Historical data available | Yes |
| Segments covered | Application, 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.
Inquiry Before Purchase: https://www.theinsightpartners.com/inquiry/TIPRE00023931
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.
Speak to Research Expert: https://www.theinsightpartners.com/speak-to-analyst/TIPRE00023931
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.
Buy Premium Copy of Butterfly Needles Market Growth Report (2022-2028) at: https://www.theinsightpartners.com/buy/TIPRE00023931
Browse other research published by The Insight Partners:
Global Butterfly Valves Market Size Forecast to 2028 - Covid-19 Impact and Global Analysis - by Type (High-performance, Lined); Mechanism (Centric, Eccentric); Function (On/Off, Control); End-Use Industry (Oil and Gas, Electric power, Chemical, Water and Waste Water, Others) and Geography
Global Soft Seal Butterfly Valves Market Size Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Flangeless, Flanged); Application (Oil and Gas, Power Generation, Water Treatment, Construction, Others) and Geography
Global Triple Offset Butterfly Valve Market Size Forecast to 2028 - Covid-19 Impact and Global Analysis - by Size (Up to 10, >10-25, >25-50, >50) Material (Stainless Steel, Carbon Steel, Alloy Based, Others); Industry (Oil and Gas, Water and Wastewater Treatment, Energy and Power, Pharmaceuticals and Healthcare, Food and Beverages, Others) and Geography
Global Butterfly Infusion Sets Market Size Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (18 to 20-gauge, 21 to 24-gauge, 25 to 27-gauge); Application (Hospitals, Clinics, Other) and Geography
Global Spinal Needles Market Size Forecast to 2028 - COVID-19 Impact and Global Analysis by Product Type (Atraumatic Needles, Directional Spinal Needles, Pencil-point Needles); Application (Diagnostic, Therapeutic); End-user (Hospitals and Clinics, Diagnostic Centers, Research Laboratories), and Geography
Global Pen Needles Market Size to 2025 - Global Analysis and Forecasts By Type (Standard and Safety), Therapy (Insulin, GLP-1, and Growth Hormone), Length (4mm, 5mm, 6mm, 8mm,10mm, and 12mm) and Geography
Global Cardiovascular Needle Market Size Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Round-Bodied Needles and Cutting Needles), Application (Open Heart Surgery and Cardiac Valve Procedures), Usage (Single Use and Multiple Uses), and End User (Hospitals and Clinics, Ambulatory Surgical Centers, and Cardiovascular Centers) Geography
Global Hypodermic Needles Market Size, Share, and COVID-19 Impact Analysis – by Type (Safety Needles and Non-Safety Needles), Application (Drug Delivery, Vaccination, Blood Specimen Collection), End-Users (Diagnostic Centers, Hospitals and Clinics, and Home Health Care), Usage (Disposable and Reusable), and Regional Forecast (2021–2028)
Global Trans-Septal Needles Market Size Forecast to 2028 - Covid-19 Impact and Global Analysis - By Size (71 cm, 99 cm, 98 cm, Others); End User (Hospitals, Clinics, Ambulatory Surgical Centers, Others) and Geography
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
Press Release: https://www.theinsightpartners.com/pr/butterfly-needles-market
