Lancets Market Trends, Growth Insight, Increasing Demand, Competitive Analysis, Statistics, Regional and Global Industry Forecast To 2028
The global lancets market is anticipated to cross USD 1,695.8 million by 2025, growing at a lucrative CAGR of over 12.0% from 2019-2025. Rising number of diabetic patients as well as increasing number of home-based testing procedures is anticipated to drive the market growth in coming years. The Centers for Medicare and Medicaid Programs (CMS) released a Point of Care and Infection Prevention Assessment and Evaluation Memorandum in nursing homes describing the usage of lancet tools for more than one individual as failure requirements for infection control.
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Lancets are surgical instruments with a sharp point and two edges that are used to create small incisions (such as in a vein or a boil). Lancets are made of stainless steel and sterilized to ensure the highest level of protection for patients who need frequent blood tests. The lancet is extremely sharp, allowing for a simple, clean, and painless puncture of a patient's skin.
Because of the increasing prevalence of diabetes and infectious diseases around the world, the Lancets market is expected to expand over the forecast period.
Furthermore, the growing demand for minimally invasive procedures is highly boosting the global lancets market to grow forward. In addition, developing markets such as China and India are likely to offer several lucrative growth opportunities for lancet market providers. The safety bifurcation is expected to continue producing higher sales in the lancet industry, as these devices have a strong preference due to their superior safety profile. They reduce the risk of infection transmission due to their single-use design; the needle automatically springs back after use, reducing the risk of accidental pricks and injuries. Furthermore, they do away with the need for lancing instruments, making them easier to use when measuring capillary blood.
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Due to the growing number of individuals suffering from diabetes, the glucose monitoring segment held the highest share of the market over the historical period. The amount of glucose in the blood must be monitored to determine the seriousness of the pancreatic condition and to manage it, which is why the demand for the lancets market is increasing around the world.
The global prevalence of diabetes and infectious diseases is propelling the lancets market forward. North America was one of the highest revenue-generating lancet markets during the historical period, owing to technological advancements in medical devices, rapidly increasing elderly population, and a growing incidence of chronic diseases. The risk of needlestick injuries, poor reimbursement, and lancet reuse in developing countries, on the other hand, are limiting the global lancet market's growth.
Growing diabetes cases among the increasing population, rising preferences for home care and home diagnostics, and rising infectious disease prevalence are some of the factors that will boost the lancets market forward in the prediction period. Growing application and development of emerging economies, on the other hand, would generate new opportunities for the global lancets market to expand during the forecast period.
Key vendors in the market include Becton, Dickinson and Company, Terumo Corporation¸ Roche Diagnostics, Ypsomed, SteriLance Medical, ARKRAY, and many more.
Key segments of the global lancets market
Type Overview, 2015-2025 (USD Million)
Application Overview, 2015-2025 (USD Million)
Regional Overview, 2015-2025 (USD Million)
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Table Of Contents:
2. Research Methodology
3. Market Outlook
4. Lancets Market by Type, 2015-2025 (USD Million)
5. Lancets Market by Application, 2015-2025 (USD Million)
6. Lancets Market by Region 2015-2025 (USD Million)
7. Competitive Landscape
8. Company Profiles
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