Lancets Market 2019 - Business Size, Share, Opportunities, Future Trends, Top Key Players, Market Share and Global Analysis by Forecast to 2024

2019 Research Report on Global Lancets Market is a professional and comprehensive report on the Lancets industry.

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Key Players: Becton, Dickinson and Company (US), Roche Diagnostics (Switzerland), Ypsomed (Switzerland), B. Braun Melsungen (Germany), Terumo Corporation (Japan), Own Mumford (UK), HTL-STREFA S.A (Poland), ARKRAY (Japan), Sarstedt (Germany), and SteriLance Medical (Suzhou) (China).

“The lancets market is projected to grow at a CAGR of 12.4% during the forecast period (2019–2024).”

The lancets market is projected to reach USD 1,442 million by 2024 from USD 804 million in 2019, at a CAGR of 12.4%. Market growth is attributed to the growing prevalence of diabetes and the high prevalence of infectious diseases. However, the risk of needlestick injuries and the poor reimbursement scenario in developing countries may restrain market growth.

“By type, the safety lancets segment is expected to grow at the highest CAGR during the forecast period.”

Based on type, the lancets market is segmented into safety and personal lancets. The safety lancets segment is expected to grow at the highest CAGR during the forecast period. This is mainly due to the benefits associated with safety lancets such as their ease of use, the capability to prevent needle stick injuries and cross-contamination, and painlessness of vein puncture.

“By end user, the hospitals and clinics segment to dominate the lancets market in 2019.”

On the basis of end user, the lancets market is segmented into hospitals and clinics, home care settings, and other end users. The hospitals and clinics segment is expected to hold the largest share of the lancets market in 2019. This is attributed to rising awareness about diabetes treatment and the increasing prevalence of infectious diseases that require blood testing.

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“APAC is expected to witness the highest growth during the forecast period.”

North America is expected to account for the largest share of the lancets market in 2019, followed by Europe. The large share of the market in North America can majorly be attributed to the increasing prevalence of diabetes and the favorable reimbursement scenario in the region. However, the APAC region is expected to witness the highest CAGR during the forecast period. This can primarily be attributed to the growing healthcare industry, increasing geriatric population, rapid economic growth, and rising awareness about diabetes treatment.

A breakdown of the primary participants referred to for this report is provided below:

By Company Type: Tier 1–55%, Tier 2–25%, and Tier 3–20%
By Designation: C-level–43%, Director-level–32%, and Others–25%
By Region: North America–38%, Europe–23%, Asia Pacific–29%,Rest of the World–10%

Research Coverage: The report analyzes the lancets market and aims at estimating the market size and future growth potential of the lancets and the different segments by type, application, and end user. The report also includes an in-depth competitive analysis of the key players in this market along with their company profiles, product offerings, and recent developments.

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In the end, the Global Lancets Market report’s conclusion part notes the estimation of the industry veterans.

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This release was published on openPR.