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 segment type, the lancets system market is categorized into standard lancets and safety lancets. Safety lancets are sub-categorized into Manually Activated and Automatically activated/Pressure activated. Push Button Lancets and Side Button Lancets Manually Activated are expected to have the highest growth in the market which is attributed to the growing geriatric population.
Glucose Testing applications 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 Testing, Allergy Testing, Neonatal Screening, and Other Applications. In 2022, Glucose Testing dominated the market and the lancets market observed the highest growth rate. Factors supporting the growth of the market are due to the growing prevalence of diabetes and the increasing adoption of self-monitoring devices.
The North American 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 a high market share during the forecast period. The rising prevalence of various chronic diseases which is attributed to the demand of a rising number of hospitals and surgical centers is also supporting the growth of the lancets market.
Breakdown of supply-side primary interviews, by company type, designation, and region:
- By Company Type: Tier 1 (32%), Tier 2 (46%), and Tier 3 (22%)
- By Designation: C-level (40%), Director-level (26%), and Others (32%)
- By Region: North America (35%), Asia- Pacific (21%), Europe (30%), Latin America (14%), and Middle East & Africa(3%)
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 Tıbbi 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.
Key Benefits of Buying the 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 Lancet market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
- Analysis of key drivers (Growing prevalence of diabetes and increasing adoption of self-monitoring devices, Rising prevalence of various chronic diseases, Increasing demand for painless lancets, Growing geriatric population, Rising number of hospitals and surgical centers), restraints (Increasing incidence of lancet-related needlestick injuries and infections and Pricing pressure owing to reimbursement cuts and budget constraints) opportunities (Increasing incidence of lancet-related needlestick injuries and infections and Pricing pressure owing to reimbursement cuts and budget constraints), and challenges (Reuse of lancets) influencing the growth of the lancets market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the Lancets market.
- Market Development: Comprehensive information about lucrative markets - the report analyses the lancets market across varied regions.
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the Lancets market
- Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like Becton, Dickinson and Company (US), F. Hoffmann-La Roche Ltd. (Switzerland), B. Braun SE (Germany), Abbott Laboratories (US), and Greiner Bio-One International GmbH (Austria) and Terumo Corporation (Japan) among others in the lancets market strategies.
Table of Contents
Companies Mentioned
- A. Menarini Diagnostics S.R.L
- Abbott Laboratories
- Acon Laboratories, Inc.
- Agamatrix, Inc.
- Allison Medical, Inc.
- Arkray, Inc.
- B. Braun Se
- Becton, Dickinson and Company
- Cml Biotech Ltd.
- Disera Tibbi Malzeme Lojistik Sanayi Ve Ticaret A.S.
- F. Hoffmann-La Roche Ltd.
- Fl Medical S.R.L
- Glucorx Limited
- Greiner Bio-One International GmbH
- Htl-Strefa S.A.
- Medline Industries
- Mhc Medical Products, LLC
- Neomedic
- Owen Mumford
- Sanli Medical & Health Service
- Sarstedt AG & Co. Kg
- Sterilance Medical (Suzhou) Inc.
- Terumo Corporation
- Ypsomed
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 212 |
Published | May 2023 |
Forecast Period | 2023 - 2028 |
Estimated Market Value ( USD | $ 2.3 Billion |
Forecasted Market Value ( USD | $ 3.6 Billion |
Compound Annual Growth Rate | 9.7% |
Regions Covered | Global |
No. of Companies Mentioned | 24 |