Blood lancets market - Forecasts from 2025 to 2030

The blood lancets market is estimated to grow at a CAGR of 8.50% to reach a market size of US$3.083 billion in 2030 from US$2.050 billion in 2025.

Blood lancets are small medical implements for carrying blood samples or obtaining small specimens for testing. The increasing prevalence of diabetes and other infectious diseases worldwide is driving market growth during the forecast period.

However, the lack of reimbursement scenarios in developing countries is anticipated to restrain the market expansion in the coming years.

Blood lancets market drivers:

• The rising prevalence of diabetes is driving the growth of the market

The rising prevalence of diabetes is expected to be one of the prime drivers of the market's growth during the forecast period. According to the IDF Diabetes Atlas' tenth edition for 2021, 537 million adults (20-79 years old) had diabetes in 2021. By 2030, there will be 643 million diabetics worldwide, and by 2045, there will be 783 million. Additionally, type 2 diabetes is more likely to occur in 541 million adults. In addition, the rising economic burden of diabetes coupled with increasing healthcare expenditure worldwide is also anticipated to increase the demand for rapid diagnostic kits for glucose monitoring in the coming years. According to the International Diabetes Federation (IDF), global healthcare expenditure on diabetes was around US$966 billion in 2021, representing a growth of 9%, directly fueling the market's growth.

Blood lancets market geographical outlook:

By geography, the blood lancets market is segmented into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. The major economies like China, Japan, India, and South Korea dominate the Asia-Pacific region. Some of the fastest-growing emerging economies are from this region, such as ASEAN countries.

In the Asia Pacific region, increasing health awareness among the population coupled with the rapid market evolution in using new types of blood sampling methods is propelling its growth in the coming years.

North America is anticipated to dominate a large portion of the global blood lancet market because of its growing elderly and targeted populations, increasing R&D costs, and rising diabetes treatment awareness. In addition, the percentage of individuals over 65 is expected to rise from 9 percent in 2019 to more than 16 percent in 2050, according to figures from the United Nations' World Population Prospects in 2019. In addition, it is expected that by 2050, there will be three times as many people aged 80 or older population (143 million vs. 426 million). As a result, as the elderly population grows, chronic diseases are predicted to become more prevalent because older people are more likely to develop them, propelling the regional market for blood lancets. In Europe, domestic players are increasing strategic investment in mergers and acquisitions, increasing the competition and further propelling market growth in the coming years to address the growing needs of the region's aging population.

Reasons for buying this report:-

• Insightful Analysis: Gain detailed market insights covering major as well as emerging geographical regions, focusing on customer segments, government policies and socio-economic factors, consumer preferences, industry verticals, other sub- segments.
• Competitive Landscape: Understand the strategic maneuvers employed by key players globally to understand possible market penetration with the correct strategy.
• Market Drivers & Future Trends: Explore the dynamic factors and pivotal market trends and how they will shape up future market developments.
• Actionable Recommendations: Utilize the insights to exercise strategic decision to uncover new business streams and revenues in a dynamic environment.
• Caters to a Wide Audience: Beneficial and cost-effective for startups, research institutions, consultants, SMEs, and large enterprises.

What do businesses use our reports for?

Industry and Market Insights, Opportunity Assessment, Product Demand Forecasting, Market Entry Strategy, Geographical Expansion, Capital Investment Decisions, Regulatory Framework & Implications, New Product Development, Competitive Intelligence

Report Coverage:

• Historical data & forecasts from 2022 to 2030
• Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
• Competitive Positioning, Strategies, and Market Share Analysis
• Revenue Growth and Forecast Assessment of segments and regions including countries
• Company Profiling (Strategies, Products, Financial Information, and Key Developments among others)

The blood lancets market is analyzed into the following segments:

By Type

• Personal Blood lancets
• Safety Blood lancets

By Application

• Glucose Testing
• Hemoglobin Testing
• Other application

By End User

• Hospitals &Clinics
• Blood Banks
• Homecare
• Others

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Rest of South America
• Europe
• United Kingdom
• Germany
• France
• Italy
• Spain
• Rest of Europe
• Middle East and Africa
• Saudi Arabia
• UAE
• Rest of the Middle East and Africa
• Asia Pacific
• China
• India
• Japan
• South Korea
• Taiwan
• Thailand
• Indonesia
• Rest of Asia-Pacific