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.
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
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
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.
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.
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
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.