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The Lancet Market size was estimated at USD 1.5 billion in 2023 and is expected to reach USD 3.8 billion by 2032 at a CAGR of 10.6% during the forecast period of 2024-2032.
The new research report includes industry trends, price analysis, patent analysis, conference and webinar materials, important stakeholders, and market purchasing behaviour. The growing incidence of diabetes and increasing use of self-monitoring devices, the expanding elderly population, the high prevalence of chronic illnesses, and the increasing desire for painless lancets are driving the increasing demand for lancets.
Diabetes management imposes a significant cost burden on economies and healthcare systems. Diabetes costs roughly USD 14 billion, or 10.2% of the entire yearly budget, according to the International Diabetes Federation (IDF). Furthermore, technical improvements and the introduction of novel products in the realm of lancing devices are fuelling market expansion. Diagnostic blood testing is a standard medical technique that accounts for 70–80% of all medical decisions. Many firms are making strides towards safer, simpler, and more effective methods of collecting blood samples. Because of advantages such as maximal skin-piercing force and minimal wound area, the advent of high-speed lancing devices is fuelling market expansion. These technologies reduce discomfort for patients while also decreasing recovery time.
DRIVERS
The rise in chronic illnesses is propelling the industry forward.
Government investments in healthcare education.
The primary drivers driving the growth of the blood lancet market include an increase in the incidence of chronic illnesses such as hyperlipidemia, diabetes, and lipid disorders, as well as a desire for home care diagnostics. Furthermore, the rising usage of disposable blood lancets for painless blood sugar, haemoglobin, fat level, and other essential blood components propels market expansion. Disposable lancets lower the danger of blood transfusion and infection transmission, helping drive the market forward.
RESTRAIN
During the projection period, the lancet market would be hampered by unfavourable reimbursement policies and the dangers associated with blood transfusions.
OPPORTUNITY
Emerging markets have strong growth possibilities.
Because of their large patient populations and rising disposable incomes, emerging economies such as India, China, and Southeast Asia provide attractive potential for the lancet business. Lancet penetration is currently limited in these nations. This is attributable to these nations' low product adoption and lack of knowledge. Another issue limiting lancet usage in these nations is a lack of financial resources. The development of low-cost goods, as well as substantial advertising and awareness initiatives, can successfully overcome these difficulties and enhance lancet penetration in poor nations.
CHALLENGES
Injuries and infections caused by lancets are becoming more common.
Economic Elements Geopolitical tensions, economic sanctions, and trade disruptions have emerged from the war between Russia and Ukraine, as well as other countries involved. These issues may contribute to a general economic downturn, impacting a variety of businesses, including healthcare. Reduced economic activity or financial instability may have an influence on the purchasing power and healthcare spending of both nations and neighbouring areas, thereby influencing demand for medical equipment such as lancets.
Supply Chain interruptions the region's violence and political instability may cause interruptions in the global supply chain. If Ukraine or Russia is a major manufacturer or supplier of lancets or lancet components, disruptions in production or transportation might impair the market availability of this medical equipment. It may result in supply shortages.
IMPACT OF ONGOING RECESSION
Individuals and families become more cost-conscious during an economic slump, even when it comes to healthcare bills. Patients may seek cost-cutting strategies and choose non-urgent self-monitoring equipment over needed medical procedures. This alteration in behaviour may have an impact on the demand for lancets, perhaps resulting in lower sales.
Budgetary Constraints in Healthcare As governments and organisations encounter financial constraints, recessions frequently result in budget cuts in healthcare systems. Reduced healthcare expenditures can have an influence on resource allocation, potentially affecting the acquisition of medical devices such as lancets. Hospitals, clinics, and healthcare professionals may prioritise critical equipment and pharmaceuticals above non-urgent devices, affecting market demand for lancets.
Insurance companies and healthcare payers may change their policies, resulting in changes in coverage for medical equipment such as lancets. If coverage is limited or reimbursement rates fall, patients' affordability and accessibility to lancets may suffer, affecting market demand.
By Product
Safety Lancets
Standard Lancets
Specialty Lancets
By Application
Blood Glucose Testing
Hemoglobin Testing
Cholesterol Testing
Coagulation Testing
Other Application
By End-use
Hospitals and Clinics
Homecare Settings
Others
REGIONAL ANALYSES
North America has a sizable market share, which is projected to continue during the projection period. This is because blood lancets are widely used and easily accessible in this location. Furthermore, diabetes is becoming increasingly prevalent in the United States.
Because of an increase in the incidence of diabetes, high cholesterol, and other chronic illnesses, the Asia-Pacific area is predicted to develop rapidly throughout the projection period. Additionally, increased demand for improved healthcare services in emerging markets like India and China is pushing the Asia-Pacific blood lancet market ahead. As a consequence, the aforementioned factors contribute to the expansion of the region's worldwide blood lancet market.
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REGIONAL COVERAGE
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
The major players are Becton, Dickinson and Company, Roche Diagnostics, Medline Industries, Ypsomed, B. Braun Melsungen, HTL-Strefa S.A, Terumo Corporation, Owen Mumford, Arkray, AgaMatrix, Abbott, Nipro Medical Corporation, Ypsomed and Others.
RECENT DEVELOPMENTS
Astellas Pharma: In 2023 Astellas Pharma announced a collaboration with Roche Diabetes Care Japan Co., Ltd. to develop and commercialise the world-renowned Accu-Chek Guide Me blood glucose monitoring system with advanced accuracy as a combined medical product with BlueStar.
BD: In 2022 BD has completed the separation of Embecta Corp., which owns BD's former Diabetes Care division and is one of the world's leading diabetes management firms.
| Report Attributes | Details |
| Market Size in 2023 | US$ 1.5 Bn |
| Market Size by 2032 | US$ 3.8 Bn |
| CAGR | CAGR of 10.6% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Product (Safety Lancets, Standard Lancets, Specialty Lancets) • By Application (Blood Glucose Testing, Hemoglobin Testing, Cholesterol Testing, Coagulation Testing, Other Application) • By End-use (Hospitals and Clinics, Homecare Settings, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | Becton, Dickinson and Company, Roche Diagnostics, Medline Industries, Ypsomed, B. Braun Melsungen, HTL-Strefa S.A, Terumo Corporation, Owen Mumford, Arkray, AgaMatrix, Abbott, Nipro Medical Corporation, Ypsomed |
| Key Drivers | • The rise in chronic illnesses is propelling the industry forward. • Government investments in healthcare education. |
| Market Restraints | • During the projection period, the lancet market would be hampered by unfavourable reimbursement policies and the dangers associated with blood transfusions. |
Ans: The Lancets Market is expected to grow at a 10.6% CAGR from 2023 to 2030.
Ans: According to our analysis, the Lancets Market is anticipated to reach USD 3.13 billion by 2030.
Ans: The prominent players in the Lancets Market are Becton, Dickinson and Company, Roche Diagnostics, Medline Industries, Ypsomed, B. Braun Melsungen.
Ans: Yes, you may request customization based on your company's needs.
Ans: In 2022, the safety lancet category dominated the market.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of the Ukraine- Russia war
4.2 Impact of ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Lancets Market Segmentation, By Product
8.1 Safety Lancets
8.2 Standard Lancets
8.3 Specialty Lancets
9. Lancets Market Segmentation, By Application
9.1 Blood Glucose Testing
9.2 Hemoglobin Testing
9.3 Cholesterol Testing
9.4 Coagulation Testing
9.5 Other Application
10. Lancets Market Segmentation, By End-use
10.1 Hospitals and Clinics
10.2 Homecare Settings
10.3 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 North America Lancets Market by Country
11.2.2North America Lancets Market by Product
11.2.3 North America Lancets Market by Application
11.2.4 North America Lancets Market by End-User
11.2.5 USA
11.2.5.1 USA Lancets Market by Product
11.2.5.2 USA Lancets Market by Application
11.2.5.3 USA Lancets Market by End-User
11.2.6 Canada
11.2.6.1 Canada Lancets Market by Product
11.2.6.2 Canada Lancets Market by Application
11.2.6.3 Canada Lancets Market by End-User
11.2.7 Mexico
11.2.7.1 Mexico Lancets Market by Product
11.2.7.2 Mexico Lancets Market by Application
11.2.7.3 Mexico Lancets Market by End-User
11.3 Europe
11.3.1 Eastern Europe
11.3.1.1 Eastern Europe Lancets Market by Country
11.3.1.2 Eastern Europe Lancets Market by Product
11.3.1.3 Eastern Europe Lancets Market by Application
11.3.1.4 Eastern Europe Lancets Market by End-User
11.3.1.5 Poland
11.3.1.5.1 Poland Lancets Market by Product
11.3.1.5.2 Poland Lancets Market by Application
11.3.1.5.3 Poland Lancets Market by End-User
11.3.1.6 Romania
11.3.1.6.1 Romania Lancets Market by Product
11.3.1.6.2 Romania Lancets Market by Application
11.3.1.6.4 Romania Lancets Market by End-User
11.3.1.7 Turkey
11.3.1.7.1 Turkey Lancets Market by Product
11.3.1.7.2 Turkey Lancets Market by Application
11.3.1.7.3 Turkey Lancets Market by End-User
11.3.1.8 Rest of Eastern Europe
11.3.1.8.1 Rest of Eastern Europe Lancets Market by Product
11.3.1.8.2 Rest of Eastern Europe Lancets Market by Application
11.3.1.8.3 Rest of Eastern Europe Lancets Market by End-User
11.3.2 Western Europe
11.3.2.1 Western Europe Lancets Market by Product
11.3.2.2 Western Europe Lancets Market by Application
11.3.2.3 Western Europe Lancets Market by End-User
11.3.2.4 Germany
11.3.2.4.1 Germany Lancets Market by Product
11.3.2.4.2 Germany Lancets Market by Application
11.3.2.4.3 Germany Lancets Market by End-User
11.3.2.5 France
11.3.2.5.1 France Lancets Market by Product
11.3.2.5.2 France Lancets Market by Application
11.3.2.5.3 France Lancets Market by End-User
11.3.2.6 UK
11.3.2.6.1 UK Lancets Market by Product
11.3.2.6.2 UK Lancets Market by Application
11.3.2.6.3 UK Lancets Market by End-User
11.3.2.7 Italy
11.3.2.7.1 Italy Lancets Market by Product
11.3.2.7.2 Italy Lancets Market by Application
11.3.2.7.3 Italy Lancets Market by End-User
11.3.2.8 Spain
11.3.2.8.1 Spain Lancets Market by Product
11.3.2.8.2 Spain Lancets Market by Application
11.3.2.8.3 Spain Lancets Market by End-User
11.3.2.9 Netherlands
11.3.2.9.1 Netherlands Lancets Market by Product
11.3.2.9.2 Netherlands Lancets Market by Application
11.3.2.9.3 Netherlands Lancets Market by End-User
11.3.2.10 Switzerland
11.3.2.10.1 Switzerland Lancets Market by Product
11.3.2.10.2 Switzerland Lancets Market by Application
11.3.2.10.3 Switzerland Lancets Market by End-User
11.3.2.11.1 Austria
11.3.2.11.2 Austria Lancets Market by Product
11.3.2.11.3 Austria Lancets Market by Application
11.3.2.11.4 Austria Lancets Market by End-User
11.3.2.12 Rest of Western Europe
11.3.2.12.1 Rest of Western Europe Lancets Market by Product
11.3.2.12.2 Rest of Western Europe Lancets Market by Application
11.3.2.12.3 Rest of Western Europe Lancets Market by End-User
11.4 Asia-Pacific
11.4.1 Asia-Pacific Lancets Market by Country
11.4.2 Asia-Pacific Lancets Market by Product
11.4.3 Asia-Pacific Lancets Market by Application
11.4.4 Asia-Pacific Lancets Market by End-User
11.4.5 China
11.4.5.1 China Lancets Market by Product
11.4.5.2 China Lancets Market by End-User
11.4.5.3 China Lancets Market by Application
11.4.6 India
11.4.6.1 India Lancets Market by Product
11.4.6.2 India Lancets Market by Application
11.4.6.3 India Lancets Market by End-User
11.4.7 Japan
11.4.7.1 Japan Lancets Market by Product
11.4.7.2 Japan Lancets Market by Application
11.4.7.3 Japan Lancets Market by End-User
11.4.8 South Korea
11.4.8.1 South Korea Lancets Market by Product
11.4.8.2 South Korea Lancets Market by Application
11.4.8.3 South Korea Lancets Market by End-User
11.4.9 Vietnam
11.4.9.1 Vietnam Lancets Market by Product
11.4.9.2 Vietnam Lancets Market by Application
11.4.9.3 Vietnam Lancets Market by End-User
11.4.10 Singapore
11.4.10.1 Singapore Lancets Market by Product
11.4.10.2 Singapore Lancets Market by Application
11.4.10.3 Singapore Lancets Market by End-User
11.4.11 Australia
11.4.11.1 Australia Lancets Market by Product
11.4.11.2 Australia Lancets Market by Application
11.4.11.3 Australia Lancets Market by End-User
11.4.12 Rest of Asia-Pacific
11.4.12.1 Rest of Asia-Pacific Lancets Market by Product
11.4.12.2 Rest of Asia-Pacific Lancets Market by Application
11.4.12.3 Rest of Asia-Pacific Lancets Market by End-User
11.5 Middle East & Africa
11.5.1 Middle East
11.5.1.1 Middle East Lancets Market by Country
11.5.1.2 Middle East Lancets Market by Product
11.5.1.3 Middle East Lancets Market by Application
11.5.1.4 Middle East Lancets Market by End-User
11.5.1.5 UAE
11.5.1.5.1 UAE Lancets Market by Product
11.5.1.5.2 UAE Lancets Market by Application
11.5.1.5.3 UAE Lancets Market by End-User
11.5.1.6 Egypt
11.5.1.6.1 Egypt Lancets Market by Product
11.5.1.6.2 Egypt Lancets Market by Application
11.5.1.6.3 Egypt Lancets Market by End-User
11.5.1.7 Saudi Arabia
11.5.1.7.1 Saudi Arabia Lancets Market by Product
11.5.1.7.2 Saudi Arabia Lancets Market by Application
11.5.1.7.3 Saudi Arabia Lancets Market by End-User
11.5.1.8 Qatar
11.5.1.8.1 Qatar Lancets Market by Product
11.5.1.8.2 Qatar Lancets Market by Application
11.5.1.8.3 Qatar Lancets Market by End-User
11.5.1.9 Rest of Middle East
11.5.1.9.1 Rest of Middle East Lancets Market by Product
11.5.1.9.2 Rest of Middle East Lancets Market by Application
11.5.1.9.3 Rest of Middle East Lancets Market by End-User
11.5.2 Africa
11.5.2.1 Africa Lancets Market by Country
11.5.2.2 Africa Lancets Market by Product
11.5.2.3 Africa Lancets Market by Application
11.5.2.4 Africa Lancets Market by End-User
11.5.2.5 Nigeria
11.5.2.5.1 Nigeria Lancets Market by Product
11.5.2.5.2 Nigeria Lancets Market by Application
11.5.2.5.3 Nigeria Lancets Market by End-User
11.5.2.6 South Africa
11.5.2.6.1 South Africa Lancets Market by Product
11.5.2.6.2 South Africa Lancets Market by Application
11.5.2.6.3 South Africa Lancets Market by End-User
11.5.2.7 Rest of Africa
11.5.2.7.1 Rest of Africa Lancets Market by Product
11.5.2.7.2 Rest of Africa Lancets Market by Application
11.5.2.7.3 Rest of Africa Lancets Market by End-User
11.6 Latin America
11.6.1 Latin America Lancets Market by Country
11.6.2 Latin America Lancets Market by Product
11.6.3 Latin America Lancets Market by Application
11.6.4 Latin America Lancets Market by End-User
11.6.5 Brazil
11.6.5.1 Brazil America Lancets by Product
11.6.5.2 Brazil America Lancets by Application
11.6.5.3 Brazil America Lancets by End-User
11.6.6 Argentina
11.6.6.1 Argentina America Lancets by Product
11.6.6.2 Argentina America Lancets by Application
11.6.6.3 Argentina America Lancets by End-User
11.6.7 Colombia
11.6.7.1 Colombia America Lancets by Product
11.6.7.2 Colombia America Lancets by Application
11.6.7.3 Colombia America Lancets by End-User
11.6.8 Rest of Latin America
11.6.8.1 Rest of Latin America Lancets by Product
11.6.8.2 Rest of Latin America Lancets by Application
11.6.8.3 Rest of Latin America Lancets by End-User
12. Company profile
12.1 Becton.
12.1.1 Company Overview
12.1.2 Financials
12.1.3 Product/Services/Offerings
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 Dickinson and Company.
12.2.1 Company Overview
12.2.2 Financials
12.2.3 Product/Services/Offerings
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 F. Hoffmann-La Roche Ltd.
12.3.1 Company Overview
12.3.2 Financials
12.3.3 Product/Services/Offerings
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 B. Braun SE.
12.4.1 Company Overview
12.4.2 Financials
12.4.3 Product/Services/Offerings
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 Abbott Laboratories.
12.5.1 Company Overview
12.5.2 Financials
12.5.3 Product/Services/Offerings
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 Greiner Bio-One International GmbH.
12.6.1 Company Overview
12.6.2 Financials
12.6.3 Product/Services/Offerings
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 Terumo Corporation.
12.7.1 Company Overview
12.7.2 Financials
12.7.3 Product/Services/Offerings
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 Levo AG.
12.8.2 Financials
12.8.3 Product/Services/Offerings
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9 Sunrise Medical.
12.9.1 Company Overview
12.9.2 Financials
12.9.3 Product/Services/Offerings
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 Medline Industries Inc
12.10.1 Company Overview
12.10.2 Financials
12.10.3 Product/Services/Offerings
12.10.4 SWOT Analysis
12.10.5 The SNS View
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. Use Case and Best Practices
15. Conclusion
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