Global 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
For diabetes/glucose tests, tests in infants, heel-stick screening tests, as well as for scarred emergency patients or severely burned patients, Lancets are being used. The risk associated with blood transfusion is expected to hinder the market growth during the forecast period. The factors striving the market growth include rising incidence rate of contagious and non-contagious diseases, increasing prevalence of diabetes, and rising inclination towards home care and home diagnostics.
One of the main functional ranges of lancets is to monitor diabetes in the diabetic population. 9.4% of the US population are diabetic patients according to the Centers for Disease Control and Prevention (CDC). The demand for lancets is predictable to be huge with the increasing incidence of diabetes, thus resulting in the cumulative demand for devices and products to monitor and control diabetes, ultimately leading to growing usage of lancets.
With a market value of USD 1,595.5 Million in 2018, the Global Lancet Market listed a CAGR of 10.50% during the assessment period.
Envisioned Spectators are Academic Institutes, Pharmaceutical Companies, and Research and Development Organizations
The eminent players in the global lancet market are ), Improve Medical Instruments Co., Dickinson, Bayer AG (Germany), Abbott Laboratories (US), HTL-STREFA S.A. (Poland), Sarstedt AG & Co. (Germany), Becton, and Company (US), F. Hoffmann-La Roche Ltd (Switzerland), Greiner Bio-One International GmbH (US), Ltd (US) Terumo Corporation (Japan and others.
Based on region the global lancet market is segmented into Europe, the Americas, Asia-Pacific, and the Middle East and Africa.
Due to the increasing demand and need for safe blood glucose tests in hospitals, clinics, diagnostics centers, etc., the Europe market recognized extensive growth in the market and the growth in insulin users. Hence, it holds the largest share of the global lancet market. The Americas held a significant share in the global lancet market owed to the increase in the frequency of diabetes and the growing need for a diabetes diagnosis. Asia-Pacific was the fastest mounting region in the global market and responsible for 19.1% market share in the global market in 2018. The least growth owing to low per capita income and lack of adequate healthcare spending is shown by The Middle East and Africa
Global Lancet Market is segmented and is given by Type into which there is- Safety Lancet (Side Button Safety Lancet, Push Button Safety Lancet, Pressure Activated Safety Lancet and Personal Lancet
It is also given by End User (Home Diagnostics, Diagnostic Centers and Pathology Laboratories, Research and Academic Laboratories, Hospitals & Clinics, Others)
And lastly it is given by region which is further elaborated into the regional analysis given, Americas (North America covering US, Canada and Latin America), Europe (Western Europe covering Germany, UK, France,
Italy, Spain, Rest of Western Europe and Eastern Europe), Asia-Pacific covering (China, Japan, India, Australia, South Korea and Rest of Asia-Pacific) and the Middle East & Africa covering the Middle East and Africa