Global Lancets Market Size study & Forecast, by Type (Safety Lancets, Personal lancets), by Application (Glucose Testing, Haemoglobin Testing, Coagulation Testing, Other Applications) by End User (Hospitals, Clinics, Home care setting, others) and Regiona

Global Lancets Market Size study & Forecast, by Type (Safety Lancets, Personal lancets), by Application (Glucose Testing, Haemoglobin Testing, Coagulation Testing, Other Applications) by End User (Hospitals, Clinics, Home care setting, others) and Regional Analysis, 2023-2030

Global Lancets Market is valued approximately at USD XXX billion in 2022 and is anticipated to grow with a growth rate of more than XX% over the forecast period 2023-2030. Lancets is a medical instrument used to obtain blood samples for disease diagnosis, especially in diabetes. It has a double-edged blade that punctures the skin, and it is disposable. Lancets are commonly used by diabetic patients to monitor their blood glucose levels and also in clinics and labs for blood group confirmation. The lancets market is experiencing significant growth due to the growing prevalence of chronic diseases such as diabetes, hyperlipidemia, and dyslipidemia. The market is driven by the growing use of disposable blood lancets for painless diagnosis of blood sugar level, hemoglobin, fat level, and other important blood components. The use of disposable lancets reduces the risk of blood transfusion and infection in transmission, further contributing to the market growth.

The growing geriatric population, coupled with a rising incidence of diabetes, is creating demand for lancets. According to the International Diabetes Federation in 2021, there are about 537 million adults (aged 20-79 years) living with diabetes globally in 2021. By 2030, it is projected that the number increased to 643 million, and by 2045, it is expected to reach 783 million. According to the World Bank Group, the world geriatric population was 727 million in 2020, and it is predicted to sustain over the next three decades, reaching 1.5 million in 2050. Additionally, increasing demand in home healthcare equipment and improved medical device regulation and the expansion of the blood lancets is anticipated to create the lucrative opportunity for the market growth. However, low awareness regarding homecare lancet in developing countries stifles the market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Lancets Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the expanding geriatric population , increasing targeted population, increased R&D costs, and growing knowledge about diabetes therapy. According to the International Diabetes Federation Diabetes Atlas Tenth Edition in 2021, about 32.2 million persons in the United States had diabetes in 2021, with a predicted increase to 36.3 million by 2045. Asia Pacific is expected to grow at fastest growth rate during the forecast period, owing to due to improving healthcare infrastructure and a large patient pool in need of diagnostic tests for treatment. Additionally, the rising incidence of infectious diseases such as dengue, Zika, West Nile, malaria, and chikungunya is contributing to the increased demand for lancing devices.

Major market player included in this report are:
Becton Dickinson And Company
Guangzhou Improve Medical Instruments Co., Ltd
Terumo corporation.
SteriLance Medical Inc.
F L Medical S.R.L Laboratory equipment
Sarstedt AG & CO
Nipro Medical Corporation
Medtronic Plc.
Owen Mumford
Abbott Laboratories Pvt Ltd.

Recent Developments in the Market:
In September 2022, Tasso obtained 510(k) clearance for its blood lancet, allowing them to market a device that caters to the demand for remote testing services. Their product, Tasso+, is designed for at-home blood collection. Users can initiate blood collection by clicking a button to release the lancet and applying the device to their arm.

In February 2022, Vault Health, a healthcare company focused on virtual care, partnered with Tasso, Inc., a company specializing in user-friendly clinical-grade blood collection technology. This partnership aims to integrate Tasso's products and logistics into Vault's comprehensive service offering. The collaboration is expected to enhance the sample collection experience for Vault customers, providing a virtually painless process.

Global Lancets Market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Type, Application, End User, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Type:
Safety Lancets
Personal lancets
By Application:
Glucose Testing
Haemoglobin Testing
Coagulation Testing
Other Applications
By End User:
Hospitals
Clinics
Home care setting
others
By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
Becton Dickinson And Company
Guangzhou Improve Medical Instruments Co., Ltd
Terumo corporation.
SteriLance Medical Inc.
F L Medical S.R.L Laboratory equipment
Sarstedt AG & CO
Nipro Medical Corporation
Medtronic Plc.
Owen Mumford
Abbott Laboratories Pvt Ltd.

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