What is the global market forecast for Plastic Lancet?

Plastic Lancet Market: An Overview

Plastic Lancet is a pricking needle used in blood sampling and testing process. It is most commonly used by diabetic patient for testing blood regularly. It is a single use device and are very much affordable. Plastic lancet is also used by doctors, pathologist, and nurses for patient effected by cardiovascular issues, endocrine related complications and other such chronic diseases. It is also used personally by patient at home for sampling of blood. Plastic lancet is of various type and have different mechanism such as pressure activated, push button, and side button.

The plastic lancet is also offered with same portable blood testing devices, which are used as a homecare kit. The commonly used plastic lancet are simple single use lancet which are manually used for pricking. It is one of the most commonly use devices in the medical sector to obtain the blood sample. Plastic lancet is recognized globally and is been accepted due to convenience, which gives replacement over traditional method for vein puncture. It provides painless vein puncture, easy handling and safety while handling. The increase in prevalence of major chronic diseases and improvement in medical devices regulation increases the demand for plastic lancet over the forecast period. The manufacturers of plastic lancet are focusing on the development such as improve R&D facility and provide cost efficient advance lancet, which can be continuously used for some certain period.

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Plastic Lancet Market: Dynamics

The demand for plastic lancet is expected to be driven by growing number of blood borne diseases across the globe. The increase in number of contagious and non-contagious diseases are the primary factor influencing the demand for plastic lancet during the forecast period. The increase in prevalence of diabetes and other infectious disease such as plague, viral fever and swine flu increase the process of blood sampling and drives the plastic lancet market. The increase risk associated with blood transfusion, and poor healthcare facility has restraints the growth of global plastic lancet market. The glucose test monitoring, hemoglobin test, and other such test are expected to witness an attractive growth during the forecast period.

Growing availability of accurate lancet devices for collection of blood sample, painless, and easy to handle devices helps patient to determine the adjustment in diabetic management, thus it result in increased demand for plastic lancet over the forecast period. The macro economic factors such as increase in healthcare expenditure is expected to influence the demand for plastic lancet during the forecast period globally. Therefore the global plastic lancet market is expected to witness a healthy CAGR during the forecast period.

Plastic Lancet Market: Segmentation

The global plastic lancet market is segmented as follows -

By Application Type, the global plastic lancet market is segmented into -

Cholesterol Test
Glucose Test
Others

By Product Type, the global plastic lancet market is segmented into -

Personal lancet
Push button safety lancet
Side button safety lancet
Pressure activated safety lancet

By End user, the global plastic lancet market is segmented into -

Hospitals
Clinics
Diagnostic Centers
Homecare
Others
Plastic Lancet Market: Regional Outlook

The Europe is expected to witness a positive growth towards plastic lancet market during the forecast period. It is due to rise in prevalence of diabetes in Europe with around 60 million people are suffering from diabetes, according to WHO. North America is also expected to be the prominent market for plastic lancet, it is due to increasing need for diabetic diagnosis and increasing need for safe blood glucose test in hospitals. The Asia Pacific is expected to witness a healthy CAGR during the forecast period owing to increase in healthcare expenditure and low manufacturing cost and also low labor cost.

Recent Development in Global Plastic Lancet Market
In 2017, Abbott Laboratories S.A. announced that it FreeStyle Libre Flash Glucose Monitoring System for adults is been approved by US Food and Drug Administration. This approval enhance the product offering of the company.
In January 2017, Catalent Inc. collaborated with Roche on Smartag(TM) technology. It is a research collaboration that will help Roche on Smartag(TM) technology to develop new product.

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Plastic Lancet Market: Key Players

Some of the leading players operating in the global plastic lancet market are as follows –

Sarstedt AG & Co
Guangzhou Improve Medical Instruments Co., Ltd
Abbott Laboratories S.A.
Becton Dickinson and Co
F.L. Medical SRL
LifeScan
Nipro Medical Corporation
Terumo Corporation

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

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