The butterfly needles market has been gaining significant traction over the past decade due to the rising prevalence of chronic illnesses necessitating blood draws and intravenous injections on a regular basis. Butterfly needles are specially designed hollow bore needles with an integrated plastic catheter mounted on top of the needle to facilitate easy insertion. They are commonly used to collect blood samples or administer intravenous medications, fluids and nutrients to patients. Their ergonomic design with an extended flexible 'butterfly' shaped wing makes insertion virtually painless for patients, especially children and elderly.

The Global Butterfly Needles Market is estimated to be valued at US$ 2.16 Bn in 2024 and is expected to exhibit a CAGR of 8.7% over the forecast period 2023 to 2030.

Key Takeaways

Key players: Key players operating in the butterfly needles market include Alshifa Medical Syringes, Asahi Kasei Medical, Beijing PuYi Medical Technology Co, Bionic Medizintechnik, Biosigma SPA, Changzhou Zener Medtec, Demophorius Healthcare, Dialife SA, Epimed, F.B. Medical, Farmasol, HeBei ChaoRan Medical Instruments, HWTAi, Jiangsu Eyoung Medical Devices, Kawasumi, KB Medical Group, Lepu Medical Technology, Micsafe Medical, Nanchang Kindly Meditech, Nemoto, Nipro, NxStage Medical, Oscar Boscarol, PakuMed Medical Products, and Sunrise Medical Technology.

Key opportunities: Rising geriatric population, increasing number of ambulatory surgical centers and clinics, and growing awareness about painless phlebotomy provide lucrative growth opportunities.

Global expansion: Key players are expanding their international footprint by entering emerging markets of Asia Pacific, Latin America, Middle East and Africa to tap higher growth potential.

Market drivers: The growing prevalence of chronic health conditions like diabetes, cardiovascular diseases and cancer necessitating frequent blood glucose monitoring and intravenous injections is a major driver boosting the demand for butterfly needles. Rising healthcare expenditures and focus on patient comfort also fuel the market growth.

PEST Analysis
Political: The butterfly needle market is regulated by various rules and regulations set by regulatory authorities to ensure safety and quality standards. Manufacturers need to comply with these guidelines to market and manufacture their products.

Economic: Rising incidence of chronic diseases along with increasing health expenditure is fueling market growth. According to forecasts, the market size will increase substantially in the next few years. However, pricing pressures and regulations can impact companies.

Social: With increasing awareness, people are more willing to undergo medical procedures requiring injections or blood draws. This is increasing demand for butterfly needles which are more comfortable for patients compared to regular needles. An aging population also contributes to market growth.

Technological: Advanced materials and automated manufacturing technologies allow companies to optimize needle design for improved safety, accuracy and comfort. Some companies are developing needle-free injection systems as an alternative to traditional needles which can further reduce pain for patients.

Geographical Concentration
The market is concentrated in developed regions with higher healthcare spending such as North America and Europe. According to estimates, the North American region accounts for over 30% of the global market value owing to growing disease prevalence and frequent medical procedures in the region.

Fastest Growing Region
The Asia Pacific region is poised to be the fastest growing market for butterfly needles during the forecast period. This is due to rising healthcare infrastructure, growing medical tourism industry and increasing accessibility of procedures requiring injections in developing countries. The geriatric population is also expanding rapidly in countries such as China and India, driving regional demand.

About Author:

Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191