Global Lancets Market Size By Type (Safety Lancets, Personal Lancets), By Application (Hospitals, Blood Banks, Home Care), By Geographic Scope And Forecast

Lancets Market Size And Forecast

Lancets Market size was valued at USD 2.32 Billion in 2024 and is projected to reach USD 5.57 Billion by 2031, growing at a CAGR of 11.57% from 2024 to 2031.

Increasing consumers’ preference for home care, increased incidence of infectious diseases, and increasing awareness regarding advanced diabetes management products are the factors driving the Lancets Market growth. The Global Lancets Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Lancets Market Definition

A lancet is a surgical steel instrument with sharp points with plastic and two edges used to make small incisions in a vein or a boil. Generally, used to puncture the skin on one’s finger to get a blood sample. Blood lancets are disposable. Lancets are available over the counter it doesn’t need a prescription to buy. Other lancets are used for making a small cut, as in the draining of boils and abscesses.

There are different types of gauges available in the market for blood sampling, which refer to the width of the metal point. The higher the meter, the smaller the perforation the lancet makes. A 23-gauge lancet makes a bigger hole in your skin than a 30-gauge lancet does. Using a higher gauge lancet, some people found it less painful to use because it is harder to get an acceptable drop of blood with a higher-gauge lancet.

The Lancing device uses a spring to push the lancet into the skin and quickly reject it. It also allows the user to adjust the depth of penetration depending on the consistency of the skin and calluses and the sensitivity of the fingertips. With this, it obtained enough without causing extreme pain. A lancing device is included when you buy a blood glucose meter. It is possible that the meter may not work or give enough blood. It means that there are many other competitors in the market with further product differentiation.

Global Lancets Market Overview

The increasing geriatric population, with an increase in the incidence of chronic diseases, propelled the demand for lancing devices in the market. Increasing government expenses and technical advancements in diabetes management are the factors for the growth of the Lancets Market. The increase in technologically advanced products and faster product permissions boost market growth.

Diagnostic blood testing is one of the most common medical procedures of medical decisions. Many companies make safer, easier, and more efficient ways to collect blood samples. The intro of high-speed lancing devices pushes the market growth because of its features, like maximum skin-piercing force and minimum wound area. These devices relieve pain for patients and can recover fast.

Diabetes management donates a significant economic burden to countries and healthcare systems. Moreover, technological advancements and the launch of innovative products in lancing devices are adding to market growth. However, consumers’ lack of awareness regarding homecare lancets in developing countries is restraining the market growth. Whereas an excellent regulatory system positively impacts the development of blood lancets, there are opportunities for the Lancets Market’s growth.

Global Lancets Market Segmentation Analysis

The Global Lancets Market is Segmented on the basis of Type, Application, And Geography.

Lancets Market, By Type

• Safety Lancets
• Personal Lancets

Based on Type, The market is bifurcated into Safety Lancets And Personal Lancets. The Safety lancets segment holds a large number of shares in the market because of easy availability, affordability, and low exposure to infections. It is a preferable consumer choice for in-home diabetic monitoring and is also used in hospitals and clinics where the personal lancet is the fastest-growing segment because high patient compliance for the geriatric population is the factor for the growth of the Lancets Market.

Lancets Market, By Application

• Hospitals
• Blood Banks
• Home Care
• Others

Based on Application, The market is bifurcated into Hospitals, Blood Banks, Home Care, and Others. The hospital segment holds a large number of shares in the market because of the increasing incidence of infectious diseases and a large number of patients suffering from diabetes which requires blood testing kits. Whereas homecare is the fastest-growing segment in the market because of increasing awareness regarding self-monitoring of blood glucose and the availability of different lancet devices. The cost of measuring blood glucose levels at home is low, and more patients prefer to monitor their blood glucose levels at home. Moreover, increasing the number of self-care-using lancet devices in the market is high, increasing the Lancets Market’s growth.

Lancets Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the World

On the basis of Geography, The Global Lancets Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The North American region holds a large number of shares in the market because increasing consumer awareness regarding healthcare and advancement in technology are the factors propelling the market growth of the Lancets Market in the region.

Whereas the Asia Pacific is the fastest-growing region in the market because of improving healthcare infrastructure in the developing countries, an increase in infectious diseases like arboviral diseases, including dengue, Zika, West Nile, malaria, and chikungunya, is increasing the demand for lancing devices in the region and increasing covid 19 pandemic which increases the need for diagnostic testing in the region are the factor increases the market growth of Lancets Market across the globe.

Key Players

The “Global Lancets Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Becton, Dickinson and Company (US), Roche Diagnostics (Switzerland), Ypsomed (Switzerland), Terumo Corporation (Japan), Own Mumford (UK), HTL-STREFA S.A (Poland), ARKRAY (Japan), B. Braun Melsungen (Germany), Sarstedt (Germany), and SteriLance Medical (Suzhou). The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• On July 2019, Osaka-based NIPRO Corporation made an agreement with Owen Mumford Ltd to sell the latter organization’s UniSafe, a series of springless devices, in Japan’s healthcare market.
• On October 2019, LifeScan Inc. launched lancets under the OneTouch Delica Plus brand that smoothly glide into the skin due to their silicone coating.

Report Scope

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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