Butterfly Needle Sets Market: Advantages over straight needles such as convenience and safety is likely to augment the market growth
Butterfly Needle Sets Market: Introduction
- Butterfly needle sets is a device used to access a vein to draw blood or give medications. It is also called winged infusion set or a scalp vein set. Butterfly needles offer advantages over straight needles such as they allow for more precise placement, particularly in hard-to-access veins. Butterfly needle sets comprise a hypodermic needle, bilateral flexible wings, and a connector, which is attached to a vacuum tube or collection bag to draw blood from an infusion pump.
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Key Drivers, Restrains, and Opportunities of Global Butterfly Needle Sets Market
- Increase in prevalence of chronic diseases such as cardiovascular disorders, cancer, and bleeding disorders is leading to rising demand for products and thereby driving the growth of the butterfly needle sets market. For instance, according to Centers for Disease Control and Prevention, each year Hemophilia A affects 1 in 5,000 male births and approximately 400 babies are born with hemophilia A in the United States.
- Moreover, advantages over straight needles such as convenience and safety is likely to augment the growth of the butterfly needle sets market. However, stringent regulatory requirements and lack of product innovation are factors likely to hamper the growth of the market.
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- The world is currently experiencing the pandemic of an infectious disease called COVID-19. This infection leads to multiple organ failure, acute & severe respiratory disorders, pneumonia, and even death in severe cases. Thus, surge in number of patients with severe COVID-19 infection has fueled the demand for intensive care units (ICU). The geriatric population is more prone to COVID-19. Subcutaneous formulation for the treatment of the disease which is given by using butterfly needles for Covid-19 patients is rising at a moderate pace. This is likely to drive the market.
- Governments in developing countries are making significant investments to modernize health care infrastructure, which is likely to increase access to health care. This is expected to increase the demand for butterfly needle sets. The increase in prevalence of chronic diseases in developing countries presents lucrative opportunities in the global butterfly needle sets market.
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North America to Capture Major Share of Global Butterfly Needle Sets Market
- North America is expected to account for major share of the global butterfly needle sets market due to high prevalence of chronic diseases among the population. Moreover, well- established healthcare infrastructure and hub for key industry players are the major drivers of the butterfly needle sets market in the region.
- The butterfly needle sets market in Asia Pacific is expected to grow at a rapid pace during the forecast period owing to rise in health care infrastructure. Moreover, surge in geriatric population coupled with chronic diseases is likely propel the market in the region.
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Key Players Operating in Global Butterfly Needle Sets Market
The global butterfly needle sets market is highly concentrated due to the presence of key players. A large number of manufacturers hold major share in their respective regions. Demand for products to treat chronic diseases has increased in emerging as well as developed markets. Growth strategies adopted by leading players are likely to drive the global butterfly needle sets market.
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