Market Trends of Butterfly Needle Sets Industry
Blood Transfusion Segment is Expected to Grow Significantly Over the Forecast Period
Blood loss resulting from an injury or surgery can be replaced with blood transfusions. Blood transfusions are another treatment option for some chronic disease treatments and surgeries. With the increasing burden of road traffic injury and surgical procedures, the demand for blood transfusion is increasing and is expected to drive the overall market growth.
Blood transfusions offer many benefits, including an increase in low hemoglobin levels, helping to stop bleeding, helps in heart function. It also helps with serious blood infections when other methods fail, such as granulocyte transfusions; when the bone marrow is compromised, it provides red blood cells (RBCs) and platelets which offer better patient care and can be lifesaving in most cases. Hence, blood transfusions are increasing worldwide, which further creates opportunities for butterfly needle sets and is expected to drive the segment's growth.
As per the 2023 update by America's Blood Centers, during the 2021 National Blood Collection and Utilization Survey (NBCUS), it was found that nearly 10,764,000 units of whole blood-derived and apheresis RBCs were transfused in the United States in 2021. Among these, 99.9% were allogeneic, nondirected transfusions, while 10,000 units were for directed transfusions, showing an increase of 11.1% from the previous year.
In addition, as per the data updated by World Health Organization (WHO) in June 2023, nearly 54% of blood transfusions are given to children under the age of 5 years in low-income countries, while the transfusion process is given mostly to a patient group of age 60 years and more.
In addition, as per the source above, high-income countries account for up to 76% of all transfusions. This shows a high demand for transfusion procedures across all age groups worldwide, which is predicted to create opportunities for butterfly needles used during transfusion procedures and contribute to the blood transfusion segment growth.
Asia Pacific is Expected to be the Fastest Growing Region Over the Forecast Period
The market for butterfly needle sets is expected to grow in Asia-pacific due to the rising number of blood transfusions in the countries such as China, Japan, and India and is expected to hold a considerable share of the market during the analysis period. Factors such as the growing cases of diseases like cancer, cardiovascular diseases, leukemia, multiple sclerosis, sickle cell anemia, and other blood-related (hematological) disorders.
Moreover, Japan has increasing healthcare expenditure among other countries in the Asia Pacific and is expected to create opportunities for the innovation and development of butterfly needle sets. This provides insights into the growth of the market studied in Japan.
The estimates of the National Cancer Registry statistics for 2021 showed a high incidence and prevalence of cancer in Japan. In 2021, nearly 1,009,800 cancer cases were diagnosed in the country, among which 14,600 new cases were leukemia. As apheresis is used for collecting donor blood or removing parts of the blood that might cause blood cancer, the apheresis procedure is used in the treatment of blood cancer, and this procedure requires butterfly needles for drawing blood and transfusing blood.
Hence, the high burden of leukemia in emerging countries such as Japan is expected to increase the demand for butterfly needle sets and drive the overall studied market in the Asia-Pacific region.
Additionally, according to a study published in the PLOS One Journal in April 2022, a total of 474,627 whole blood units were required in India during the study period across 251 health facilities. Based on this data, the estimated clinical demand for India was 14.6 million whole blood units, which is equivalent to 36.3 donations per 1,000 eligible populations. This would fulfill the whole blood and component requirements.
This demonstrates the significant demand for transfusion treatments in India, which is anticipated to generate opportunities for butterfly needles used during transfusion procedures and encourage market growth. Therefore, owing to the increasing burden of blood disorders and the number of blood transfusion procedures across the countries in the Asia-Pacific region, the demand for butterfly needle sets is anticipated to grow and drive the overall market growth in the region.
