The global lancets market size was estimated to be USD 2.41 billion in 2023 and is expected to reach at USD 6.76 billion by 2034 with a CAGR of 9.83% during the forecast period 2024-2034. Rising preference for homecare, increasing prevalence of diabetes & infectious diseases, growing awareness regarding advanced diabetes management products, surge in geriatric population, increasing technological advancements in the field of diabetes management, growing introduction of technologically advanced products, surge in product approvals, and increasing approvals by regulatory authorities are some of the key factors boosting the market growth.
Increasing approvals by regulatory authorities is predicted to boost the market growth during the forecast period. A blood lancet is a medical tool resembling a scalpel, featuring a dual-edged blade. This blade is employed to pierce the skin for the collection of blood samples, subsequently utilized in diagnosing various conditions like diabetes. Diabetic individuals commonly utilize these lancets to keep track of their blood glucose levels. For instance, in November 2022, The U.S. Food and Drug Administration has granted approval for the single-use sterile lancet produced by Shandong Lianfa Medical Plastic Products Co. Ltd.
By product, safety lancets was the highest revenue-grossing segment in the global Lancets market in 2023 owing to the Simple accessibility, minimal cost, & a low probability of infection, rising demand for in-home diabetic monitoring, and increasing usage in hospitals & clinics. Additionally, specialty lancets is predicted to grow at fastest CAGR during the forecast period owing to the high patient compliance, especially in the geriatric population, and growing collaborations within market players. For instance, in February 2022, Tasso, Inc. and Vault Health have joined forces to integrate Tasso products and logistics into Vault's comprehensive service package. Tasso, Inc. is renowned for its user-friendly clinical-grade blood collection technology. Through this collaboration, Vault Health aims to enhance the sample collection process for its customers, making it more efficient and hassle-free.
By application, blood glucose testing was the highest revenue-grossing segment in the global Lancets market in 2023 owing to the rising prevalence of diabetes, surge in awareness regarding self-monitoring of blood glucose, increasing prevalence of impaired blood glucose in both type 1 and type 2 patients., and growing initiatives by market players. For instance, in February 2022, BD (Becton, Dickinson and Company), a prominent global medical technology firm, has received approval from its board of directors for the scheduled separation of its diabetes care division. This new entity will be named Embecta Corp. Additionally, cholesterol testing is predicted to grow at fastest CAGR during the forecast period owing to the growing trend of cholesterol testing kits in home settings, and rising awareness of preventive healthcare.
By end-user, hospital was the highest revenue-grossing segment in the global Lancets market in 2023 owing to the rising prevalence of infectious diseases and surge in number of patient pool suffering from diabetes that requires blood testing kits. Additionally, home care is predicted to grow at fastest CAGR during the forecast period owing to the growing awareness regarding self-monitoring of blood glucose, the accessibility of different lancet devices, cost effectiveness of blood glucose monitoring at home, and increasing approvals by regulatory bodies. For instance, in September 2022, The FDA has granted approval for Tasso's at-home blood collection lancet. With the 510(k) clearance for its blood lancet, Tasso is now poised to introduce a device designed to address the growing need for remote testing kits. Tasso+ is a product that enables blood collection in the comfort of one's home and includes built-in safety training for proper handling, ensuring it can only be used once to eliminate the risk of contamination.
North America region is anticipated for the highest revenue share during the forecast period owing to the increasing launch of new product, growing healthcare expenditure, rising technological advancements, and surge in inoitiative by market players. For instance, in April 2022, BD has successfully finalized the separation of Embecta Corp., which now possesses BD's former Diabetes Care division and stands as one of the world's leading companies in diabetes management. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising healthcare infrastructure, increasing demand for diagnostic tests for treatment, growing prevalence of infectious diseases such as arboviral diseases, including dengue, malaria, chikungunya, Zika, & West Nile, and surge in partnerships & collaborations within market players. For instance, in March 2023, Astellas Pharma has disclosed a partnership agreement with Roche Diabetes Care Japan Co. Ltd. This collaboration involves jointly developing and marketing the highly acclaimed Accu-Chek Guide Me blood glucose monitoring system by Roche Diabetes Care, which boasts advanced accuracy, as a combined medical product in conjunction with BlueStar.
Increasing approvals by regulatory authorities is predicted to boost the market growth during the forecast period. A blood lancet is a medical tool resembling a scalpel, featuring a dual-edged blade. This blade is employed to pierce the skin for the collection of blood samples, subsequently utilized in diagnosing various conditions like diabetes. Diabetic individuals commonly utilize these lancets to keep track of their blood glucose levels. For instance, in November 2022, The U.S. Food and Drug Administration has granted approval for the single-use sterile lancet produced by Shandong Lianfa Medical Plastic Products Co. Ltd.
By product, safety lancets was the highest revenue-grossing segment in the global Lancets market in 2023 owing to the Simple accessibility, minimal cost, & a low probability of infection, rising demand for in-home diabetic monitoring, and increasing usage in hospitals & clinics. Additionally, specialty lancets is predicted to grow at fastest CAGR during the forecast period owing to the high patient compliance, especially in the geriatric population, and growing collaborations within market players. For instance, in February 2022, Tasso, Inc. and Vault Health have joined forces to integrate Tasso products and logistics into Vault's comprehensive service package. Tasso, Inc. is renowned for its user-friendly clinical-grade blood collection technology. Through this collaboration, Vault Health aims to enhance the sample collection process for its customers, making it more efficient and hassle-free.
By application, blood glucose testing was the highest revenue-grossing segment in the global Lancets market in 2023 owing to the rising prevalence of diabetes, surge in awareness regarding self-monitoring of blood glucose, increasing prevalence of impaired blood glucose in both type 1 and type 2 patients., and growing initiatives by market players. For instance, in February 2022, BD (Becton, Dickinson and Company), a prominent global medical technology firm, has received approval from its board of directors for the scheduled separation of its diabetes care division. This new entity will be named Embecta Corp. Additionally, cholesterol testing is predicted to grow at fastest CAGR during the forecast period owing to the growing trend of cholesterol testing kits in home settings, and rising awareness of preventive healthcare.
By end-user, hospital was the highest revenue-grossing segment in the global Lancets market in 2023 owing to the rising prevalence of infectious diseases and surge in number of patient pool suffering from diabetes that requires blood testing kits. Additionally, home care is predicted to grow at fastest CAGR during the forecast period owing to the growing awareness regarding self-monitoring of blood glucose, the accessibility of different lancet devices, cost effectiveness of blood glucose monitoring at home, and increasing approvals by regulatory bodies. For instance, in September 2022, The FDA has granted approval for Tasso's at-home blood collection lancet. With the 510(k) clearance for its blood lancet, Tasso is now poised to introduce a device designed to address the growing need for remote testing kits. Tasso+ is a product that enables blood collection in the comfort of one's home and includes built-in safety training for proper handling, ensuring it can only be used once to eliminate the risk of contamination.
North America region is anticipated for the highest revenue share during the forecast period owing to the increasing launch of new product, growing healthcare expenditure, rising technological advancements, and surge in inoitiative by market players. For instance, in April 2022, BD has successfully finalized the separation of Embecta Corp., which now possesses BD's former Diabetes Care division and stands as one of the world's leading companies in diabetes management. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising healthcare infrastructure, increasing demand for diagnostic tests for treatment, growing prevalence of infectious diseases such as arboviral diseases, including dengue, malaria, chikungunya, Zika, & West Nile, and surge in partnerships & collaborations within market players. For instance, in March 2023, Astellas Pharma has disclosed a partnership agreement with Roche Diabetes Care Japan Co. Ltd. This collaboration involves jointly developing and marketing the highly acclaimed Accu-Chek Guide Me blood glucose monitoring system by Roche Diabetes Care, which boasts advanced accuracy, as a combined medical product in conjunction with BlueStar.
Segmentation: Lancets Market Report 2022 - 2033
Lancets Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)
- Standard Lancets
- Safety Lancets
- Specialty Lancets
Lancets Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Cholesterol Testing
- Blood Glucose Testing
- Coagulation Testing
- Hemoglobin Testing
- Other
Lancets Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Homecare Settings
- Hospitals & Clinics
- Others
Lancets Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Lancets Market: Product Estimates & Trend Analysis
8. Lancets Market: Application Estimates & Trend Analysis
9. Lancets Market: End-user Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Lancets Market
12. Europe Global Lancets Market
13. Asia Pacific Global Lancets Market
14. Latin America Global Lancets Market
15. MEA Global Lancets Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Terumo Corporation
- Roche Diagnostics
- Abbott
- Medline Industries
- B. Braun Melsungen
- HTL-Strefa S.A
- Becton
- Dickinson and Company
- Owen Mumford
- Ypsomed
- Arkray
- Nipro Medical Corporation
- Ypsomed
- AgaMatrix.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | January 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 2.41 Billion |
| Forecasted Market Value ( USD | $ 6.76 Billion |
| Compound Annual Growth Rate | 9.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 14 |
