- Rise in prevalence of chronic diseases across the globe, precise and easy use of butterfly needles set, and need for managing long term medication and drug infusion drive the growth of the global butterfly needle sets market
PORTLAND, Oregon, July 15, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Butterfly Needle Sets Market by Application (Blood Transfusion, Venipuncture, IV Rehydration, and Delivery of Medications) and End User (Hospitals, Blood Banks, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027." According to the report, the global butterfly needle sets industry generated $ 166.60 million in 2019, and is estimated to reach $320.02 million by 2027, witnessing a CAGR of 8.2% from 2020 to 2027.
Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/6902
Prime determinants of growth
Rise in prevalence of chronic diseases across the globe, precise and easy use of butterfly needles set, and need for managing long term medication and drug infusion drive the growth of the global butterfly needle sets market. However, lack of product innovation and regulatory standard hinder the market growth. On the other hand, safety and convenience associated with butterfly needles create new opportunities for the market players.
Covid-19 Scenario
- The demand for needles has been immensely increased during Covid-19. The health care providers and manufacturers are focusing to prepare the supply of needles in order to avoid shortage.
- The market is witnessing increased production, new contracts, and high investments for needles.
- The companies are ramping up their production to meet the highly increased demand from healthcare institutes and hospitals.
The blood transfusion segment to maintain the highest contribution in terms of revenue by 2027
Based on application, the blood transfusion segment accounted for around three-fifths of the global butterfly needle sets market in 2019, and is expected to maintain the highest contribution in terms of revenue throughout the forecast period. Moreover, the same segment is estimated to witness the highest CAGR of 8.6% from 2020 to 2027. This is attributed to rise in anemia, and bleeding disorders such as hemophilia, von Willebrand disease, and cancer. In addition, rise in chemotherapies and increase in geriatric patients whose veins are fragile and difficult to access leads to increase in blood transfusion also boost the segment growth.
The food and beverages segment to continue its lead during the forecast period
Based on end-user, the hospital segment contributed to the highest share, holding nearly three-fifths of the global butterfly needle sets market in 2019, and is estimated to continue its lead position during the forecast period. A majority of the hospital owned pathology departments use butterfly needles to draw blood from veins of patients to perform diagnostic tests, which drives the segment growth. Nevertheless, the blood bank segment would register the highest CAGR of 9.1% during the forecast period, owing to number of blood donation visits in blood banks.
For Purchase Enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/6902
Asia-Pacific, followed by North America to maintain its leadership status during the forecast period
Based on region, Asia-Pacific, followed by North America, held the highest share in terms of revenue of the global butterfly needle sets market, accounting for more than one-third of the total market share in 2019, and is expected to maintain its dominance during the forecast period. In addition, the region also would grow at the highest CAGR of 9.3% from 2020 to 2027. This is owing to presence of large untapped opportunities in this region, increase in purchasing power of populated countries such as China and Japan, and surge in Thalassemic, Hemophilic, and cancer patients.
Leading Market Players
- Terumo Corporation
- Kawasumi Laboratories, Inc.
- ISOMed
- BioMatrix S.r.l.
- Braun Melsungen AG
- Becton
- Dickinson and Company
- Nipro Corporation
- Cardinal Health, Inc.
- Medline Industries, Inc.
Avenue Basic Plan | Library Access | 1 Year Subscription |
Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.
Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter
Get more information:https://www.alliedmarketresearch.com/library-access
Similar Reports:
Diabetic Nephropathic Market - Global Opportunity Analysis and Industry Forecast, 2019-2026
Anesthesia Resuscitators Masks Market - Global Opportunity Analysis and Industry Forecast, 2019-2026
Mobile Medical Imaging Services Market - Global Opportunity Analysis and Industry Forecast, 2019-2026
Fetal Activity Monitor Market - Global Opportunity Analysis and Industry Forecast, 2019-2026
Gene Expression Market - Global Opportunity Analysis and Industry Forecast, 2019-2026
AI in Drug Screening Market - Global Opportunity Analysis and Industry Forecast, 2019-2026
Cardiovascular Ultrasound Market - Global Opportunity Analysis and Industry Forecast, 2019-2026
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): 1-800-792-5285, 1-503-894-6022, 1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web:https://www.alliedmarketresearch.com
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
