The global Butterfly Needles market Growth Accelerated by Advanced Technologies

 


Butterfly Needles are a specialty IV catheter that is quite thin and flexible. The catheter features soft, flexible wings on either side of its insertion point that help stabilize the device when placed in a patient's vein. Butterfly Needles offers distinct advantages over conventional needles such as less pain, minimal puncture of vein while inserting, and ease of application especially for elderly patients and children.

The global Butterfly Needles market is estimated to be valued at US$ 2.16 Bn in 2023 and is expected to exhibit a CAGR of 8.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Advancements in manufacturing technologies have enabled key players to introduce innovative butterfly needles with improved ergonomic designs and enhanced safety features. Major players are investing heavily in R&D to develop butterfly needles integrated with safety engineered features such as automatic retractable and sliding sheath mechanisms. Safety butterfly needles are gaining significant popularity as they help prevent needlestick injuries to healthcare providers during or after usage. Increasing adoption of safety butterfly needles driven by stringent safety regulations worldwide is a major trend fueling market growth over the forecast period.


Segment Analysis
The global butterfly needles market can be segmented by product type (21G, 23G, 25G, 27G), end use (hospitals, blood banks, ambulatory surgical centers), and geography. By product type, the 21G sub segment dominates the market as it allows for drawing blood without collapsing veins for critically ill patients and during blood donation drives. It is preferred by healthcare professionals for accurate placement in veins for blood draws or IV insertions.

Key Takeaways
The global butterfly needles market is expected to witness high growth over the forecast period. The global Butterfly Needles market is estimated to be valued at US$ 2.16 Bn in 2023 and is expected to exhibit a CAGR of 8.7% over the forecast period 2023 to 2030.

Regional analysis: The Asia Pacific region is expected to grow at the fastest CAGR during the forecast period driven by increasing healthcare expenditure and infrastructure development in growing economies like India and China. Factors such as rising healthcare spending, growing prevalence of chronic diseases, increasing number of hospitals and blood banks, and rising medical tourism are expected to boost market growth in the region.

Key players: Key players operating in the butterfly needles market include Alshifa Medical Syringes, Asahi Kasei Medical, Becton Dickinson, B Braun, Cardinal Health, Kiwamed, Narang Medical, and Smiths Medical. These players are focused on new product launches and expanding their geographic presence through strategic partnerships and collaborations to strengthen their market share.

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