Lancets Market Outlook
According to a new report by Expert Market Research titled, “Global Lancets Market Size, Share, Analysis, Report and Forecast 2024-2032″, the global lancets market is projected to grow at a CAGR of 9% between 2024 and 2032. Aided by the increasing prevalence of chronic diseases, the growing demand for painless and convenient blood glucose monitoring systems, and advancements in lancet technology, the market is expected to grow significantly by 2032.
Lancets are small medical implements used for capillary blood sampling. They are widely used in diabetes management for blood glucose monitoring, as well as in other applications such as cholesterol and haemoglobin testing. The latest lancet models offer features like minimal pain, adjustable depth settings, and single-use mechanisms to prevent cross-contamination and infections.
One of the primary drivers of the lancets market growth is the escalating prevalence of diabetes globally. As diabetes management often requires regular blood glucose monitoring, the demand for lancets has risen significantly. The World Health Organisation (WHO) reports an alarming increase in diabetes cases worldwide, necessitating more efficient and frequent monitoring methods.
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In addition to diabetes, the increasing incidence of other chronic diseases that require blood monitoring, such as hyperlipidaemia and anaemia, also contributes to market growth. The rise in health consciousness and the growing preference for home-based healthcare solutions have further augmented the lancets market demand.
Technological advancements in lancet designs have made blood sampling less painful and more convenient, boosting their acceptance among patients, particularly children and the elderly. Safety lancets, which automatically retract to prevent needlestick injuries and infections, have seen increased adoption in both clinical and home settings.
As per the lancets market analysis, the market is witnessing a trend towards the development of advanced, pain-free lancets. Manufacturers are focusing on ergonomic designs and pressure-activated mechanisms that ensure minimal pain and adequate blood sample collection with minimal skin penetration.
There is also a growing interest in integrating lancet devices with digital technology. Smart lancets that can connect to mobile apps for tracking and managing blood test results are gaining popularity. This integration with digital health platforms presents significant opportunities for market players. The increasing focus on preventive healthcare and self-monitoring of health parameters also contributes to the lancets market size. The availability of over-the-counter (OTC) lancets in pharmacies and online platforms has made it easier for individuals to access these devices, further driving market growth.
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Lancets Market Segmentation
The market can be divided based on type, application, end use, and region.
Market Breakup by Type
- Safety Lancets
- Push-Button Lancets
- Pressure-Activated Lancets
- Personal Lancets
Market Breakup by Application
- Glucose Testing
- Haemoglobin Testing
- Coagulation Testing
- Other Applications
Market Breakup by End Use
- Hospitals and Clinics
- Home Care Settings
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global lancets market. Some of the major players explored in the report by Expert Market Research are as follows:
- F. Hoffmann-La Roche Ltd. (SWX: ROG)
- Owen Mumford Limited
- Arkray Inc.
- Medline Industries Inc.
- Sterilance Medical (Suzhou) Inc.
- Becton, Dickinson and Company
- Ypsomed AG
- B. Braun Melsungen AG
- Terumo Medical Corporation
- HTL-Strefa S.A
- SARSTEDT AG & Co. KG
- Others
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