PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1284875
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1284875
The lancets market is projected to reach USD 3.6 Billion by 2028 from USD 2.3 Billion in 2023, at a CAGR of 9.7% during the forecast period. Growth in the lancets market is mainly driven by the growing prevalence of diabetes, the high prevalence of chronic diseases and the rising geriatric population. However, the risk of lancet-related needlestick injuries, the reuse of lancets, and Pricing pressure owing to reimbursement cuts and budget constraints are restricting the growth of this market.
"The Safety lancet segment accounted for the highest market share in the lancets systems market, by type, during the forecast period"
Based on the type of segment, the lancets system market is categorized into standard lancets and safety lancets. Safety lancet are sub categorized into Manually Activated and Automatically activated/Pressure activated. Push Button Lancets and Side Button Lancets Manually Activated are expected to the highest growth in the market which attributed to the growing geriatric population.
"Glucose Testing application accounted for the highest CAGR during the forecast period."
Based on type, the application market is segmented into Glucose Testing, Hemoglobin Testing, Coagulation Testing, Cholesterol Testingm, Allergy Testing, Neonatal Screening and Other Applications. In 2022, the Glucose Testing dominated the market and the lancets market to observe the highest growth rate. Factors supporting the growth of the market is due to the growing prevalence of diabetes and increasing adoption of self-monitoring devices.
"The North America segment accounted for the highest market share in the lancets systems market, by region, during the forecast period"
Based on the region, the global lancets market is categorized into North America, Europe, Asia Pacific, and Rest of the world. North America is expected to witness high market share during the forecast period. Rising prevalence of various chronic diseases which is attributed to the demand of rising number of hospitals and surgical centers are also supporting the growth of the lancets market.
Prominent companies include Becton, Dickinson and Company (US), F. Hoffmann-La Roche Ltd. (Switzerland), B. Braun SE (Germany), Abbott Laboratories (US), Greiner Bio-One International GmbH (Austria), Ypsomed (Switzerland), Terumo Corporation (Japan), Owen Mumford (UK), HTL-STREFA S.A. (Poland), ARKRAY, Inc. (Japan), SARSTEDT AG & Co. KG (Germany), SteriLance Medical (China), Medline Industries (US), AgaMatrix Holdings LLC (US), ACON Laboratories, Inc. (US), SANLI Medical & Health Service (China), Allison Medical Inc. (US), GlucoRx Limited (UK), FL Medical s.r.l. (Italy), A. Menarini Diagnostics s.r.l (Italy), CML Biotech (India), Neomedic (Spain), MHC Medical Products (US), and Disera TIbbi Malzeme Lojistik Sanayi ve Ticaret A.S. (Turkey).
Research Coverage
This research report categorizes the lancets market by type (Safety and Standard lancets), by application (Glucose Testing, Hemoglobin Testing, Coagulation Testing, Cholesterol Testing, Allergy Testing, Neonatal Screening and Other Applications), by end user (Hospitals, Clinics and Ambulatory Surgery Centers, Homecare settings and Other end users (Diagnostic centers, Nursing Homes, Long Term Acute Care Centers, Emergency Medical Service Providers, and Academic Research Institutes), and region (North America, Europe, Asia Pacific and Rest of world). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the lancets market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; Contracts, partnerships, agreements. new product & service launches, mergers and acquisitions, and recent developments associated with the lancets market. Competitive analysis of upcoming startups in the Lancets market ecosystem is covered in this report.
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall Lancets market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.