Author: Vikas Kumar
14 January 2023
A butterfly needle, also known as a scalp vein set or winged infusion set, is a device used to draw blood from a vein or deliver intravenous (IV) therapy to a vein. Butterfly needles allow the safe placement of needles in the vein, it also facilitate the insertion of needles in hard-to-access veins. The rising prevalence of chronic diseases and the geriatric population are among the important reasons for the proliferation of the butterfly needle set market. For instance, as per the WHO, Cancer is a leading cause of death worldwide, accounting for nearly 10 million deaths in 2020, or nearly one in six deaths.
The Butterfly Needle Sets Market is expected to grow at a steady rate of around 5% during the forecast period (2022-2028). Factors such as increasing cases of hemophilia, and a rapid increase in accidents that require emergency blood transfusion are other factors catalyzing the growth of the butterfly needle sets market.
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Based on application, the market is segmented into blood transfusion, venipuncture, iv rehydration, medication delivery, and others. The blood transfusion category is to witness higher CAGR during the forecast period owing to the continuously rising incidences of chronic & seasonal diseases and the increasing incidences of hemophilia are among the important reasons for the blood transfusion therapy. For instance, as per the WHO, Pneumonia is the single largest infectious cause of death in children worldwide. Pneumonia killed 740 180 children under the age of 5 in 2019, accounting for 14% of all deaths of children under 5 years old but 22% of all deaths in children aged 1 to 5 years.
Based on end-users, the butterfly needle sets market has been classified into hospitals, blood banks, and others. The blood bank category is to have a considerable market share during the forecast period. The increasing number of blood donation camps and rising social interest in blood donation attributes to the significant share of blood banks in the butterfly needle sets market. Furthermore, due to excessive blood loss in surgery or any accident the demand for blood increases which is an important factor for the significant share of the blood bank segment.
For a detailed analysis of the Global Butterfly Needle Sets Market browse through- https://univdatos.com/report/butterfly-needle-sets-market/
For a better understanding of the market adoption of the butterfly needle sets industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. Asia-Pacific accounted for a significant market share. This can be attributed to increasing health awareness, increasing disposable income, and the presence of a large patient pool suffering from long-term disorders are some of the key factors boosting the regional market. Furthermore, the increasing investments by major players in the market are also an important catalyzing factor for the market growth of the butterfly needle sets market in the region. For example, as per IBEF, India currently holds the fourth position in attracting VC funding to the health-tech sector, with investments of US$ 4.4 billion between 2016 and 2021, with US$ 1.9 invested in 2021 alone.
Some of the major players operating in the market include B. Braun SE, BD, Nipro, Cardinal Health, Medline Industries Inc., Terumo Corporation, SB-Kawasumi Laboratories Inc., Iso-Med Inc., Biomatrix S.R.L, and Smiths Group Plc.
Global Butterfly Needle Sets Market Segmentation
Market Insight, by Application
• Blood Transfusion
• Venipuncture• IV rehydration• Medication Delivery• Others
Market Insight, by End-User
Market Insight, by Region
Top Company Profiles
• B. Braun SE
• BD• Nipro• Cardinal Health• Medline Industries Inc.• Terumo Corporation• SB-Kawasumi Laboratories Inc.• Iso-Med Inc• Biomatrix S.R.L• Smiths Group Plc.
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