Butterfly needles, also known as soft, flexible winged cannulas, are one of the most popular types of needles used for intravenous (IV) access. These needles are made of soft flexible plastic parts and contain an integrated winged hub for secure placement and stabilization. They are widely used for blood withdrawal and IV line access in patients with difficult venous access, including pediatric and geriatric patients. Butterfly needles can help obtain blood samples with minimal pain, bruising and discomfort, and are suited for elderly patients with fragile skin.
The global Butterfly Needles Market is estimated to be valued at US$ 2.16 billion 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 Dynamics:
Rising prevalence of chronic diseases such as diabetes, cancer and cardiovascular diseases is a key factor expected to drive the global butterfly needles market growth over the forecast period. Butterfly needles are frequently used in the administration of IV injections for chronic disease patients undergoing long term medication treatment. According to WHO, in 2019 approximately 422 million people worldwide had diabetes, and 1.5 million deaths were directly caused by diabetes. Growth in chronic disease incidence rates globally has increased demand for safer IV access devices such as butterfly needles. In addition, increasing focus on adoption of minimally invasive procedures and patient comfort across the healthcare industry further supports the adoption of butterfly needles over conventional sharp cannulas. However, risks associated with needle pricks could limit the market growth during the forecast period.
SWOT Analysis
Strength: Butterfly needles have ergonomic designs that make phlebotomy procedures easier and less painful for patients. Their winged designs help secure veins and reduce the likelihood of punctured veins or collapsed veins. Safety designs prevent accidental needle sticks, reducing risks to healthcare workers.
Weakness: Butterfly needles require more precise insertion than standard needles due to their small gauge. They also have a higher risk of bending or breaking if improperly inserted. Additional training may be required for healthcare workers less experienced with their use.
Opportunity: Growth of the healthcare industry worldwide is driving increased demand for blood sampling and IV procedures. Widespread awareness campaigns are helping reduce fear and reluctance around phlebotomy, increasing patient volumes. New design innovations could further enhance safety, ease of use, and comfort.
Threats: Pricing pressure from private and public insurers aims to control healthcare costs. Alternative blood collection methods may gain acceptance. Improved standard needle safety features narrow the performance advantages of butterfly needles.
Key Takeaways
The global butterfly needles market is expected to witness high growth driven by increasing prevalence of chronic diseases requiring frequent blood tests or IV medication administration. 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.
The Asia Pacific region is expected to be the fastest growing market for butterfly needles due to rapidly expanding healthcare infrastructures and growing medical tourism industries in many countries. Rising income levels are enhancing access and affordability of healthcare services across the region. North America currently dominates the global butterfly needles market due to well-established healthcare systems and widespread health insurance coverage supporting high medical device utilization rates. However, the Asia Pacific region is poised to witness the highest growth. Countries such as India, China, and Japan are experiencing substantial economic development and government initiatives to expand healthcare access. This is driving heavy investment in new hospitals and clinics adopting advanced medical technologies including phlebotomy tools.
Key players: Key players operating in the butterfly needles market include Alshifa Medical Syringes, Asahi Kasei Medical, Cardinal Health, Medline, Becton Dickinson, and Braun. These suppliers hold leading global market shares due to their extensive product lines, international sales networks, and strong brand recognition among healthcare professionals. They are also engaged in ongoing R&D to develop new design innovations and safety enhancements for butterfly needles.
