The rising cases of chronic obstructive pulmonary diseases (COPDs), diabetes, cancer, and cardiovascular diseases (CVDs) have amplified the adoption of minimally invasive blood-drawing devices such as lancets. According to the World Health Organization (WHO), currently nearly 235 million people are suffering from asthma and around 3 million individuals die due to COPDs each year. The organization also states that cancer kills around 9.6 million people and heart diseases claim 17.9 million human lives each year. Medical professionals use lancets to diagnose such diseases at their early stages to reduce the mortality rate.

Access Detailed Report - Lancet Market Revenue Estimation

Additionally, the escalating adoption of such medical devices in homecare settings will fuel the lancet market at a CAGR of 9.5% during the forecast period (2020–2030). The market generated $830.3 million revenue in 2019. Lancets made for homecare settings are easier to utilize than those applied in hospitals and clinics. Owing to their easy availability and usage, the devices are gaining wide popularity among the geriatric population, especially among diabetic patients.

In recent years, major market players have started entering into distribution agreements with smaller firms to magnify their sales in regions beyond their direct sales channels' reach. For instance, Owen Mumford Ltd. signed an agreement with NIPRO Corporation, in July 2019. The former aims to increase the distribution channel of UniSafe springless devices in Japan through the latter, which is an Osaka-based firm. Other players following the same footprint include F. Hoffmann-La Roche Ltd., B. Braun Melsungen AG, and HTL-STREFA S.A.

According to P&S Intelligence, North America adopted the highest number of lancets in 2019, due to the rising prevalence of chronic diseases, surging population of elderly people, and increasing technological advancements, in the region. According to the Center for Disease Control and Prevention (CDC), in the U.S., more than 34 million individuals are living with diabetes. The CDC also states that nearly 600,000 deaths in the country occur due to cancer and approximately 1.7 million cases are registered every year.

Whereas, the Asia-Pacific lancet market will exhibit the fastest growth during the forecast period. This can be ascribed to the improving healthcare infrastructure, booming elderly population, magnifying purchasing power, rising prevalence of chronic ailments, and increasing number of initiatives by public and private organizations to spread awareness regarding diabetes. The United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) propounds that by 2050, one in four people in the region will be over 60 years old. Further, the WHO states that around 6 million people in Southeast Asia have diabetes.

Thus, the increasing preference for minimally invasive procedures and the booming number of diabetic patients will propel the usage of lancets in the coming years.

Blood Lancet Market by Type (Safety Lancet, Personal Lancet), End User (Hospitals & Clinics, Diagnostic Centers and Pathology Laboratories, Home Diagnostics, Others) and Region - Forecast till 2024

The demand for lancets has grown rapidly following the escalating cases of diabetes worldwide. Market reports connected with the healthcare industry have been offered by Market Research Future which crafts reports on various industry verticals that aims to evaluate the current market scenarios better. The Global Blood Lancet Market is expected to grow at a CAGR of 10.50% during the assessment period, with a market value of USD 1,595.5 Million in 2018.

 The need to keep a regular check on sugar levels has motivated the lancet market globally. Increasing awareness about diabetes as well as its treatment is boosting the sales of lancets around the world. The ease of use in terms of lancets and blood sugar machines is also expected to fuel market development. Escalated spending on awareness campaigns to educate about the use of lancets is expected to bolster the market in the coming years further.

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.

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.

Competitive Analysis

Amplified conformity of market companies to new customers and market trend inclinations are boosting the growth curve of the market and will persist in the forecast period. The expansion of a strong value chain is additionally motivating the development of the market. The development of the market is moving in a favorable direction due to new product introductions or intensifying gross revenue of the players in the market. The vertical enhancements and product tactics of the market are advancing the potential of the market players. The tactical goals intended for the market are buoyed due to advantageous product differentiation carried out by market contestants. Substantial cuts in administrative costs are inducing further expansion of the market. The active implementation of strategies is likely to stimulate the market in the approaching years.

The noteworthy contenders in the lancet market globally are Improve Medical Technology Co. Ltd, F. Hoffmann-La Roche AG, Greiner Bio One International GmbH, Terumo Medical Corporation, Becton, Dickinson and Company, Bayer Cropscience Limited, HTL-STREFA S.A, Sarstedt AG & Co and Others

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Lancet Market Segmental Analysis

The segmental analysis of the Lancet market has been segmented on the basis of types, end users and regions. Based on types, the lancet market globally is segmented into safety, personal and others. The segmentation of the lancet market globally on the basis of end users consists of diagnostic centers and pathology laboratories, hospitals & clinics, home diagnostics, and others. The regions considered in the lancet market globally are the Middle East, North America, Europe, Asia Pacific, and Africa.

Lancet Market Detailed Regional Analysis

The regional analysis of the lancet market consists of regions such as the Middle East, North America, Europe, Asia Pacific, and Africa. The North American region is the major market for lancets globally. The North American market for lancets is anticipated to develop at a CAGR of 11.2% through the forecasted period. This is primarily because of the growing incidence of diabetic patients. The European region is the next major market for lancets with a market value of USD 592.8 million in 2015. While the Asia Pacific region is anticipated to grow at a rapid rate in the upcoming forecast period.

Market Research Future published a research report on safety lancet market Report gives a clear picture of current market scenario which includes past and estimated future market size. The report provides detail information and strategies of top key players in the industry. The report also gives a broad study about different markets segments and regions.

safety lancet market Research Report – Forecast to 2021

 Competitive Analysis

The EMEA (Europe, Middle East and Africa) Blood Lancets Market consists of many major players. However there are some major players in the market are F. Hoffmann-La Roche AG, Becton, Dickinson and Company, Terumo Medical Corporation, Guangzhou Improve Medical Technology Co., Ltd., HTL-STREFA S.A., Bayer Crop Science Limited and others. HTL-STREFA S.A. accounted for major market share of Europe safety lancet market. The large share of the company is attributed to the high demand for safety lancet globally. Moreover, this company has a strong sales and distribution network and the after sales services provided helped the company to play major role in the satisfaction of the customers.

Some of the key players in safety lancet market are:  LifeScan (USA), BD (USA), Huahong Technology (China), Greiner Bio-One (Germany), Bayer (Germany), Roche Diagnostics (Switzerland), Terumo (Japan), Nipro Diagnostics (Japan), Guangzhou Improve (China), KDL China (China), Liuyang Medical Instrument (China), SteriLance Medical (China), Becton Dickinson and Company (US), Novo Nordisk (Denmark), and Nipro Diagnostics (Japan).

Europe Safety Lancet Market – Overview

Europe safety lancet market is increasing every year and is expect to increase continuously in future.  Lancet is a small needle which is generally use to prick the finger for collection of blood sample. Safety lancets are single use devices for collecting blood samples. They are used in hospitals, clinics, laboratories, doctor’s offices and wherever both patients and professionals need to feel safe. Safety lancets eliminates the needle stick injury and infections. Safety lancets are gamma-sterilized and protected with a sterility tab, fully enclosed needle housing ensuring that needle is hidden before and after use to prevent sharps injuries, Self-destructing mechanism preventing reuse of the device, lancet is triggered by a gentle push on the test site, minimizes pain because of its high speed penetration. 

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Regional Analysis

Europe holds the second position in the global market owing to the strong government support, increasing prevalence of diabetes and high healthcare expenditure. Europe is segmented into two major regions: Western Europe and Eastern Europe. Western Europe dominates the Europe safety lancet market owing to the increase in the number of patient suffering from disease like diabetes, leukemia, HIV and other chronic diseases. Increasing different allergic test and toxicological test have a synergistic impact on the market growth. Various technological advances and increasing awareness among the people regarding the management of different diseases has also increased the Western Europe market. Additionally, the government in this region is supporting the manufacturer for research & development. However, Eastern Europe show the healthy growth due to developing economy and increasing healthcare expenditure.

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Market Research Future published a research report on Europe, the Middle East and Africa Lancet and Pen Needles Market Research Report – Forecast to 2021. Report gives a clear picture of current market scenario which includes past and estimated future market size. The report provides detail information and strategies of top key players in the industry. The report also gives a broad study about different markets segments and regions.

EMEA Lancet and Pen Needles Market – Overview

Lancets and pen needles are the vital part for different testing and drug administration. Lancets are introduced in 1992 for intent of obtaining blood samples for different test like allergy test, screening test, cholesterol test and many more. Diabetes is a lifestyle disorder occur due to lack of exercise, obesity and unhealthy food. As diabetes don’t have a proper cure, patient is to maintain the blood glucose level by means of therapy, exercise and balance diet. Lancets and pen needles are the devices used to monitor the blood glucose level. Pen needles are the upgraded version of syringes. They have many advantages over syringe like dose accuracy, easy to handle and easy to carry. Pen needles are the safest mean for delivery of insulin. Different sizes and shapes are available in the market which are used as per the requirement.

Competitive Analysis

During last few years, there is a significant increase in the patients suffering from diabetes and other chronic diseases. Many manufacturers are involved in the manufacturing of the lancets and pen needles, however, these companies are involved continuous development and updating of the devices. Introduction of the safety lancets has helped in acquiring the attention of the people. To gain the market major companies have adopted the strategy of product launch and acquisition to gain the market. Whereas, local companies are trying to reduce the cost of these products to gain the market.

Latest Industry Updates

Being a competitive market, a number of different manufacturer are focusing on the product launch, and acquisition for the market development. Some of the latest development in the market are-

Becton, Dickinson and Company, an American medical technology company that manufactures and sells medical devices, instrument systems, and reagents. The company is listed in fortune 500. The company offers a number of products such as: Ultra-Fine Lancet, Automatic Injector, Safe-Clip Needle Clipping Device, Ultra-Fine Pen Needles, Magni-Guide Scale Magnifier and others. In October 2014, the company has acquired CareFusion and in April 2017, the company agreed to acquire C. R. Bard. This acquisition will surely increase the company revenues.

Owen Mumford, a leading medical device manufacturer, presented Unistik Touch at International Diabetes Federation World Diabetes Congress. The Unistik Touch is a touch activated lancet that features unique Comfort Zone Technology.

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Regional Analysis

Europe holds the second position in the global market owing to the strong government support, increasing prevalence of diabetes and high healthcare expenditure. Europe is segmented into two major regions: Western Europe and Eastern Europe. Western Europe dominates the Europe lancet and pen needles market owing to the increase in the number of patient suffering from disease like diabetes, leukemia, HIV and other chronic diseases. Increasing different allergic test and toxicological test have a synergistic impact on the market growth. Various technological advances and increasing awareness among the people regarding the management of different diseases has also increased the Western Europe market. Additionally, the government in this region is supporting the manufacturer for research & development. However, Eastern Europe show the healthy growth due to developing economy and increasing healthcare expenditure. 

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About Market Research Future

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. 

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions. 

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