Lancets Market at a CAGR of 12.4%, Key Players Becton, Dickinson and Company (US), Roche Diagnostics (Switzerland), Ypsomed (Switzerland), B. Braun Melsungen (Germany), Terumo Corporation (Japan), Own Mumford (UK)

Lancets Market research analysis and data lend a hand to businesses for the planning of production, product launches, costing, inventory, purchasing and marketing strategies. The company profiles of all the chief and dominating market players and brands who are taking steps such as product launches, joint ventures, mergers and acquisitions are mentioned in the report. The Lancets Market report includes a systematic investigation of current scenario of the market, which covers several market dynamics. The Lancets Market report provides the supreme base for the competitor analysis, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.

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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%.

The prominent players in the lancets market are

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).

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.

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%
"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.

"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.

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.

Reasons to Buy the Report

The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a greater share. Firms purchasing the report could use one, or a combination of the below mentioned five strategies for strengthening their market presence.

This report provides insights on the following pointers:

Market Penetration: Comprehensive information on the product portfolios offered by the top players in the lancets market

Product & Service Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product or service launches in the lancets market

Market Development: Comprehensive information on lucrative emerging regions

Market Diversification: Exhaustive information about new products and services, growing geographies, and recent developments in the global lancets market

Competitive Assessment: In-depth assessment of market shares, growth strategies, revenue analysis, and products& services of the leading players in the lancets market

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