Report Ocean presents a new report on Butterfly Needle Sets Market size, share, growth, industry trends, and forecast 2027, covering various industry elements and growth trends helpful for predicting the market’s future.
The global butterfly needle blood collection set market was $166.60 million in 2019, and is expected to reach $320.02 million by 2027, registering a CAGR 8.20% from 2020 to 2027.
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In order to produce a holistic assessment of the market, a variety of factors is considered, including demographics, business cycles, and microeconomic factors specific to the market under study. Global Butterfly Needle Sets Market report 2021 also contains a comprehensive business analysis of the state of the business, which analyzes innovative ways for business growth and describes critical factors such as prime manufacturers, production value, key regions, and growth rate.
The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while other private revenues accounted for 7.5%.
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
A butterfly needle is a device used to provide access to superficial vein for drawing blood or for an IV injection. These needles are much easier to use and is less painful due to winged tubing structure that allows greater flexibility. In addition, butterfly needles, also known as a winged infusion set or a scalp vein set, are commonly used for babies, young children, and elderly to draw blood or to administer medication.
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The needles are short and straight with plastic wings attached for phlebotomists to hold during insertion and ease operation. In addition, winged-infusion blood collection needles are ideal for individuals with small or fragile veins. Further, the common butterfly needles, which are frequently used ranges from gauges, with 21 and 23 gauge (G) and the smallest gauge i.e., 25-27G, are being used primarily for pediatric patients.
The major factors that drive the market growth are rise in prevalence of chronic diseases globally such as cancer, intravenous therapy, cardiovascular diseases, and bleeding disorders. In addition, increase in prevalence of chronic diseases and need for managing long term medications and drug infusions are some of the other factors that boost the growth of the market. However, lack of product innovations and regulatory standards on butterfly needle usage and phlebotomists blood collection hamper the market growth. Moreover, safety and convenience provided by the needles d treatment associated with butterfly needle offer opportunities for the market growth during the forecast period.
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The global butterfly needle blood collection set market is segmented on the basis of application, end user, and region. By application, the market is segmented into blood transfusion, venipuncture, IV rehydration, and delivery of medications. By end user, it is segmented into hospitals, blood bank, and others. Region wise, the market is categorized into North America, Europe, Asia-Pacific, and LAMEA. These regions are further analyzed on the basis of respective countries.
– The market estimations in this report are based on high-end analysis of the key segments from 2019 to 2027. – Extensive analysis of the global butterfly needle blood collection set market, by application, helps in understanding various types of techniques of butterfly needles. – This report provides comprehensive analysis of factors that drive and restrict growth of the butterfly needle blood collection set market. – Porter’s Five Forces model provides an in-depth analysis of the bargaining power of buyers and suppliers, threats of new entrants, substitutes, and competition among the key market players. – Competitive intelligence highlights the business practices adopted by leading market players across various regions.
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List of key players profiled in the report
– B. Braun Melsungen AG – Becton, Dickinson and Company – Nipro Corporation – Cardinal Health, Inc. – Medline Industries, Inc. – Terumo Corporation – Kawasumi Laboratories, Inc. – ISOMed – BioMatrix S.r.l
By application o Blood transfusion o Venipuncture o IV rehydration o Delivery of medications
By end user o Hospitals o Blood banks o Others
By Region o North America – U.S. – Canada – Mexico o Europe – UK – Germany – France – Italy – Spain – Rest of Europe o Asia-Pacific – China – Japan – India – Australia – South Korea – Rest of Asia-Pacific o LAMEA – Brazil – Turkey – Venezuela – Saudi Arabia – Rest of LAMEA
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Following are the questions answered by the Market report:
What are the goals of the report?
This market report shows the projected market size for the Butterfly Needle Sets Market at the end of the forecast period. The report also examines the historical and current market sizes.
On the basis of various indicators, the charts present the year-over-year growth (%) and compound annual growth rate (CAGR) for the given forecast period.
The report includes an overview of the market, its geographical scope, its segmentation, and the financial performance of key players.
The report examines the current state of the industry and the potential growth opportunities in North America, Asia Pacific, Europe, Latin America, and the Middle East, and Africa.
The research report includes various factors contributing to the market’s growth.
The report analyzes the growth rate, market size, and market valuation for the forecast period.
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What are the aspects of this report that relate to regional analysis?
The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.
Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
How are the key players in the market assessed?
This report provides a comprehensive analysis of leading competitors in the market.
The report includes information about the key vendors in the market.
The report provides a complete overview of each company, including its profile, revenue generation, cost of goods, and products manufactured.
The report presents the facts and figures about market competitors, alongside the viewpoints of leading market players.
A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.
What factors are taken into consideration when assessing the key market players?
The report analyzes companies across the globe in detail.
The report provides an overview of major vendors in the market, including key players.
Reports include information about each manufacturer, such as profiles, revenue, product pricing, and other pertinent information about the manufactured products.
This report includes a comparison of market competitors and a discussion of the standpoints of the major players.
Market reports provide information regarding recent developments, mergers, and acquisitions involving key players.
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What are the key findings of the report?
This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
The report offers the current state of the market and future prospects for various geographical regions.
This report provides both qualitative and quantitative information about the competitive landscape of the market.
Combined with Porter’s Five Forces analysis, it serves as SWOT analysis and competitive landscape analysis.
It provides an in-depth analysis of the market, highlighting its growth rates and opportunities for growth.
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