Asia Pacific Butterfly Needles Market

The Asia Pacific butterfly needles market is expected to grow from US$ 39.37 million in 2022 to US$ 66.26 million by 2028. It is estimated to record a CAGR of 9.1% from 2022 to 2028.

Increasing Organic and Inorganic Strategies by Key Players Fuel Asia Pacific Butterfly Needles Market Growth

The key market players are adopting various organic and inorganic strategies, including mergers and acquisitions, expansions, and new product launches, to stay competitive in the market. In January 2022, ICU Medical Inc. acquired Smiths Medical from Smiths Group plc. The Smiths Medical business includes syringes, ambulatory infusion devices, and vascular access and vital care products. The company offers Saf-T Wing butterfly needle, a single-use needle for drawing blood from venous. ICU Medical has become a leading infusion therapy company with a larger footprint after adding the Smiths product line to its portfolio. Similarly, in June 2020, Becton Dickinson Benelux NV launched BD Vacutainer UltraTouch Push Button Blood Collection Set with Pre-Attached Holder. A pre-attached holder prevents accidental needlestick injury due to the nonpatient (tube-side) needle and helps ensure compliance with OSHA's single-use holder requirements. Thus, many organic and inorganic strategies in the butterfly needles market enables healthcare professionals to provide improved services. These strategies help key players to meet the rising demand for butterfly needles that can efficiently manage patients suffering from chronic disease conditions, thereby driving the Asia Pacific butterfly needles market growth.

Asia Pacific Butterfly Needles Market Overview

The Asia Pacific butterfly needles market is segmented into China, India, Japan, South Korea, Australia, and the Rest of Asia Pacific. China dominated the market in 2022. Healthcare providers often recommend a blood test to discover any underlying diseases such as cardiovascular diseases, diabetes, cancer, and HIV/AIDs. According to an article titled "Cardiovascular Health and Diseases in China" by the National Center for Biotechnology Information (NCBI), Cardiovascular disease (CVD) accounted for ~47% and 44% of all deaths in rural and urban areas, respectively, in 2019. Two out of every five deaths occur due to CVD, and it is estimated that over 330 million patients suffer from CVD in China. According to the same source, the number of patients suffering from various diseases includes stroke (~13 million), heart failure (~11 million), coronary heart disease (~9 million), pulmonary heart disease (~5 million), rheumatic heart disease (~4.87 million), atrial fibrillation (~2.5 million), lower extremity artery disease (~2 million), congenital heart disease (~45.30 million), and hypertension (~245.00 million).  According to United Nations Program on HIV/AIDS (UNAIDS), in 2018, ~1.25 million people were affected by HIV in China. Furthermore, according to World Health Organization (WHO), China has a high rate of diabetes, as more than 10% of the total population in China is suffering from diabetes. Also, as per WHO, by 2040, an estimated 402 million people (28% of the total population) will be aged 60 years and above. Thus, China is facing the pressures of an aging population and the constant rise in the prevalence of metabolic risk factors. As a result, the CVD and diabetes burden will continue to increase, setting new requirements for the development and application of butterfly needless for blood testing in China. Further, the growing presence of local key players in the butterfly needles market in the country is boosting the market in China. Manufacturers are focusing on expanding their strategic global presence and specialized expertise with exclusive technological capabilities, leading to the expansion of needle sets and butterfly needles availability in China. Hence, the rising prevalence of diabetes and cardiovascular diseases, the increasing geriatric population, and the expansion of regional players are expected to propel the growth of the butterfly needles market in China.

Asia Pacific Butterfly Needles Market Revenue and Forecast to 2028 (US$ Million)

Asia Pacific Butterfly Needles Market Segmentation

The Asia Pacific butterfly needles market is segmented based on application, end user, and country.

Based on application, the Asia Pacific butterfly needles market is segmented into blood collection, IV rehydration, delivery of medications, venipuncture, and blood transfusion. The blood collection segment held the largest Asia Pacific butterfly needles market share in 2022.

Based on end user, the Asia Pacific butterfly needles market is segmented into hospitals, clinics, blood banks, and others. The hospitals segment held the largest Asia Pacific butterfly needles market share in 2022.

Based on country, the Asia Pacific butterfly needles market has been categorized into China, India, Japan, South Korea, Australia, and the Rest of Asia Pacific. Our regional analysis states that China dominated the Asia Pacific butterfly needles market in 2022.

B. Braun SE, Becton Dickinson and Co, Cardinal Health Inc, ICU Medical Inc, Medline Industries Inc, Nipro Corp, SB-Kawasumi Laboratories Inc, Terumo Corp, and Vogt Medical Vertrieb GmbH are the leading companies operating in the Asia Pacific butterfly needles market.

Asia Pacific Butterfly Needles Market Strategic Insights

Asia Pacific Butterfly Needles Market Segmentation Analysis

Asia Pacific Butterfly Needles Market Report Highlights

Asia Pacific Butterfly Needles Report Scope

Asia Pacific Butterfly Needles Market Country and Regional Insights