MarketResearchFuture.com (MRFR) in its recently Announced study report asserts that the “Global Lancet Market” growing further will reach USD 2,882.6 Mn. by 2022, registering 11.3% CAGR Along with Top Companies and Mega Trends.

Lancet Market - Scenario:

A blood lancet, or simply a lancet, is a small therapeutic equipment utilized for blood testing utilized for various blood sampling applications. A blood lancet is a surgical tool with a two-fold edged or sharp edge needle. Lancets are utilized to make vein punctures, for example, a finger stick, to obtain small blood samples and are generally disposable.

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Safety lancets are single-use gadgets/devices for narrow blood testing used by professionals in healthcare services. They are a necessary part to the sharps-injury aversion programs in hospitals, clinics, research centers, physicians’ offices and wherever both patients and experts need to feel safe. Needle-stick wounds and diseases can be avoided by utilizing Safety lancets.

Globally lancets are being utilized by patients who are affected by endocrine related complications, cardiovascular issues and many other issues. Lancets are being used for diabetes/glucose test, tests in infants, heel-stick screening tests, as well as for scarred emergency patients or severely burned patients.

The global market of lancets is growing rapidly because of the rising prevalence of diabetes and growing number of blood borne diseases across the globe. The global market of lancets is expected to reach USD 2,882.6 million in 2022 and is expected to grow with a CAGR of approximately 11.3% during the forecast period.

Key Players:

F. Hoffmann-La Roche AG

Becton

Dickinson and Company

Greiner Bio One International GmbH

Improve Medical Technology Co. Ltd

Terumo Medical Corporation

Bayer Cropscience Limited

HTL-STREFA S.A

Sarstedt AG & Co and Others.

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Industry Updates:

In August 2018, NeedyMeds, a California based national nonprofit patient education organization, has announced that it is taking initiatives to provide information to patients in California regarding safe disposal of sharp lancets through their website "safeneedledisposal.org."

Market Segmentation:

The global lancet market has been segmented on the basis of types and end-users. Based on types, the global lancet market is segmented into personal, safety and others. The safety lancets segment is anticipated to expand significantly during the forecast period owing to the need for immediate disposal of these lancets after a single use. 

Based on end -users, the lancet market is segmented into hospitals and clinics, diagnostic centers and pathology laboratories, home diagnostics, and others.

Market Drivers and Restraints:

Increasing demand for blood sampling devices owing to the increasing prevalence of various contagious and non-contagious diseases is majorly driving the global lancet market. The need for discarding a lancet after a single use for hygiene purpose is one of the major factors that are generating high demand for lancets in the global market. Increasing use of lancets by individuals suffering from endocrine-related complications, cardiovascular diseases and other disorders is positively impacting the growth of the global lancets market.

Lancets are commonly used by diabetic patients for regular blood sampling. Increasing prevalence of diabetes is resulting in the rise in demand for blood lancets, leading to the expansion of global lancet market. The demand and supply of multiple types of lancets such as surgical lancets, blood lancets and vaccination lancets have increased significantly in the past few years, which in turn is fueling the expansion of the global lancet market.

However, risk associated with blood transfusion, poor health care facilities and lack of awareness among the population of underdeveloped regions are likely to act as restraints on the growth of the global lancets market.

Regional Analysis:

Geographically, the global lancet market is segmented into four major regions such as North America, Europe, Asia Pacific and the Middle East and Africa. Among these, the North America region is dominating the global lancet market owing to the high demand for different types of lancets in the well-developed healthcare sector and increasing prevalence of diabetes in this region.

The Europe region stands second in the global lancet market with respect to the market size. The improvement in regulations over medical devices and increasing inclination towards home healthcare is driving the lancet market in this region.

The Asia Pacific region is anticipated to project significant growth in the lancet market during the forecast period owing to the increasing incidences of contagious and non-contagious diseases in this region.

Lack of awareness and poor primary health care facilities in the underdeveloped areas of the Middle East and Asia are resulting in the slow growth of lancet market in this region.

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