Report : North America Butterfly Needles Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Application (Blood Collection, IV Rehydration, Delivery of Medications, Venipuncture, and Blood Transfusion) and End User (Hospitals, Clinics, Blood Banks, and Others)
At 8.5% CAGR, the North America Butterfly Needles Market is speculated to be worth US$ 128.22 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America butterfly needles market was valued at US$ 78.46 million in 2022 and is expected to reach US$ 128.22 million by 2028, registering a CAGR of 8.5% from 2022 to 2028. Rise in prevalence of chronic diseases and advantages of butterfly needles over straight needles are the critical factors attributed to the North America butterfly needles market expansion.
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 needle 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, followed by cancers, chronic respiratory diseases, and diabetes. 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 needle is used for drawing blood for cholesterol testing. High cholesterol can cause heart attack and stroke. 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. 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 North America butterfly needles market.
On the contrary, risk associated with butterfly needlestick injuries hurdles the growth of North America butterfly needles market.
Based on application, the North America butterfly needles market is segmented into blood collection, IV rehydration, delivery of medications, venipuncture, and blood transfusion. The blood collection segment held 34.6% of North America butterfly needles market share in 2022, amassing US$ 27.13 million. It is projected to garner US$ 43.58 million by 2028 to expand at 8.2% CAGR during 2022–2028.
Based on end user, the North America butterfly needles market is segmented into hospitals, clinics, blood banks, and others. The hospitals segment held 36.4% market share in 2022, amassing US$ 28.57 million. It is projected to garner US$ 49.00 million by 2028 to expand at 9.4% CAGR during 2022–2028.
Based on country, the North America butterfly needles market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 67.1% market share in 2022. It was assessed at US$ 52.64 million in 2022 and is likely to hit US$ 87.71 million by 2028, exhibiting a CAGR of 8.9% during the forecast period.
Key players dominating the North America butterfly needles market are B. Braun SE, Becton Dickinson and Co, Cardinal Health Inc, ICU Medical Inc, ISO- MED Inc, Medline Industries Inc, Nipro Corp, SB-Kawasumi Laboratories Inc, and Terumo Corp among others.
- In January 2020, ICU Medical Inc. announced that it has completed its acquisition of Smiths Medical from Smiths Group plc. The Smiths Medical business includes syringe and ambulatory infusion devices, vascular access, and vital care products.
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