Report ID :10094822 |
Published Date : 21 Mar 2025 |
Report Format : |
Delivery Timeline :48-72 Business Hours
Global Lancet Market Highlights Over 2022 - 2031
The global lancet market is garnered an approximate revenue figure of USD 1125 million in the year 2021 and is estimated to grow at a CAGR of ~12% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the growing cases of chronic diseases such as diabetes, high cholesterol, and unhealthy lifestyle of people. Furthermore, better provision for reimbursement policies in advanced economies, and the high prevalence of infectious diseases are also estimated to add in the growth of the market. According to the U.S Department of Health & Human Services, the number of emergency department visits for diseases caused by infections and parasites in the year 2018 accounted for 3.4 million. Besides, growing patient population across the world and advancement in healthcare infrastructure are projected to majorly drive the market growth. As per the data published by the World Bank Group, in the year 2020, the world population was recorded at 7.762 billion.
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Lancet can be defined as a finger-pricking device that is used in order to poke punctures by securely holding a needle to obtain blood specimens. Most of the lancets are disposable however, there are different kinds of lancet holders designed for multiple uses. Diabetic patients make the most use of lancet so as to monitor their blood glucose level on daily basis.
The global lancet market is segmented on the basis of type, application, and end-users. Out of these, the application segment is further divided into glucose testing, hemoglobin testing, and coagulation testing. Among these, the glucose testing segment is anticipated to hold the largest market size in value and is estimated to grow at a promising CAGR over the forecast period. The growth of the segment can be associated with the ceaseless number of diabetic patients across the globe. Glucose testing is the unimpeachable method for getting accurate results of glucose levels in the body. The accuracy of results and futile effects are expected to be the major factors driving the growth of the segment.
Global Lancet Market Regional Synopsis
Regionally, the global lancet market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in North America witnessed notable growth in the year 2021 on the account of extensive advancements in the healthcare infrastructure. On the other hand, the market in the Asia Pacific is projected to witness significant growth over the forecast period. The growth of the market in this region can be associated with the growing patient pool, along with incessant prevalence of chronic diseases such as cancer, diabetes, cholesterol, and many others. Nearly 60% of the world's diabetic population reside in the Asia Pacific region wherein countries, India and China account to the largest base of patients. Moreover, the role of the government in spreading awareness about the use of lancets is expected to boost the growth of the market in this region.
Market Segmentation
Our in-depth analysis of the global lancet market includes the following segments:
By Type
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Push-Button Safety Lancet
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Pressure Activated Safety Lancet
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Personal Lancet
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Side Button Safety Lancet
By Application
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Glucose Testing
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Hemoglobin Testing
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Coagulation Testing
By End Users
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Homecare
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Hospitals & Clinics
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Blood Banks
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Others
Growth Drivers and Challenges Impacting the Growth of the Global Lancet Market
Growth Drivers
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Growing incidences of chronic diseases
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High prevalence of infectious diseases
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Advancement in healthcare infrastructure
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Increasing patient pool
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Betterment in reimbursement policies
Challenges
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Rising cases of needlestick injury
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High risk of infection at homecare settings
Key Companies Dominating the Global Lancet Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global lancet market that are included in our report are F. Hoffmann-La Roche Ltd., Becton, Dickinson and Company, SARSTEDT AG & Co. KG, Tenko Medical Systems Corp, HTL-STREFA (MTD Medical Technology and Devices S.A), Terumo Corporation, Ypsomed AG, Owen Mumford Limited, ARKRAY, Inc., Bayer AG, and others.
Latest Developments in the Global Lancet Market:
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17 November 2021: Terumo Corporation announced comprehensive strategic partnership with a French company called Diabeloop. The main agenda of the partnership is to campaign Automated Insulin Delivery (AID) solutions in Europe.
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16 March 2021: Owen Mumford Limited announced the introduction of 16-gauge (16G) safety lancet into its Unistik product range. The aim of the 16G safety lancet is to provide high-volume capillary blood sampling. It is particularly designed for healthcare professionals as well as test kit manufacturers.
Key Reasons to Buy Our Report
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The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
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It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
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The report includes detailed company profiles of the major players dominating the market.
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We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
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We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.
Frequently Asked Question
The market is segmented by type, application, end users, and by region.
The glucose testing segment is anticipated to hold largest market size in value and is estimated grow at a promising CAGR over the forecast period and display significant growth opportunities.
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