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Lancet Market (Type - Safety Lancets, and Personal Lancets; Application - Blood Test, Hemoglobin Test, and Skin Test; End User - Hospitals and Clinics, Diagnostic Centers, and Homecare): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025

  • Published : July, 2019

  • Rep Id : HC0598

  • Category : Healthcare & Medical Devices

  • Status : Published

A recent report published by Infinium Global Research on the lancet market provides an in-depth analysis of segments and sub-segments in the global as well as regional lancet market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional lancet market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global lancet market. According to the report, the global lancet market is projected to grow at a CAGR of 12.5% over the forecast period of 2019-2025.

 

Market Insight

A small medical implement used blood sampling is known as blood lancets. A blood lancet is a needle or a blade with a double- edge. A report defines lancet by type (safety lancets and personal lancets) used for different applications such as blood glucose testing, skin testing, and hemoglobin testing. Hospitals, clinics, and home care are the end user of the lancet


The change in lifestyle has increased diabetes patients worldwide. According to WHO, in 2015 India had 69.2 million people suffering from diabetes. There would be a 20% rise in diabetes patients worldwide over the next 12 years, reported in a study by Lancet Diabetes & Endocrinology journal. With the rise in the occurrence of diabetes, the demand for lancet is increased. In addition, the high prevalence of infectious diseases is the factor driving the growth of the market. On the other hand, the risk associated with blood transfusion is likely to hamper the growth of the market. Furthermore, the injuries caused due to needlestick and reuse of lancet are likely to restrain the growth of this market. The companies are more focusing on research and development, for instance, Roche Diagnostics invested 1.36 billion in 2016 for research and development to provide digital solutions and services, which has been augmented to USD 1.76 billion in 2018. The emerging market in Asian countries is likely to bring more opportunities to this market. China has a large number of lancet manufacturers as it is a technically advanced developing country.

 

The safety lancets are classified into push-button, pressure-activated and side buttons. The market of safety lancet is expected to grow with a CAGR of 8.95% over the forecast period. The push-button segment has the highest market share among the other two types. The lancets are used by hospitals and clinics, laborites, diagnostic centers, and home care. The hospitals and clinics accounted for the largest market share among the other applications.


Among the geographies, North America has dominated the lancet market due to a rise in the number of diabetic patients. The emerging markets such as India and China is likely to augment the growth of the Asia-Pacific region in the coming years.


Global Lancet Market

 

Segment Covered

The report on the global lancet market covers segments such as type, application, and end user. On the basis of type, the sub-markets include safety lancets, and personal lancets. On the basis of application, the sub-markets include blood test, hemoglobin test, and skin test. On the basis of end user, the sub-markets include hospitals and clinics, diagnostic centers, and homecare.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Becton, Dickinson and Company, Own Mumford, SteriLance Medical, B. Braun Melsungen, HTL-STREFA S.A, Roche Diagnostics, Terumo Corporation, Abbott Laboratories, Sarstedt AG & Co, and Ypsomed 

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the lancet market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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