Blood Lancets Market Size, Trends, In-depth Analysis, Research Report Forecast up to 2027: Key Players are Owen Mumford Ltd and Messe Düsseldorf GmbH.

The blood lancets market is expected to grow at a CAGR of 13.47% to reach a market size worth US$2,463.438 million by 2027.

The prime factors propelling the growth of the blood lancets market are the rise in diabetes prevalence rates worldwide and the global rise in the spread of infectious diseases.
According to the study, the blood lancets market is expected to grow robustly over the forecast period.

Blood lancets are tiny medical devices that collect small amounts of blood for testing or transport blood samples. The advancement in blood sampling technology and the rise in the number of diabetes patients worldwide are contributing majorly to the development of the blood lancets market. The IDF Diabetes Atlas projected that the number of diabetes patients aged between 20 to 79 years old will increase from 537 million to 783 million in 2045. Additionally, it is projected that the demand for efficient diagnostic kits for glucose monitoring will rise due to the rising financial burden of diabetes and healthcare costs globally. Additionally, the International Diabetes Federation (IDF) estimates that the cost of treating diabetes worldwide will reach US$ 966 billion in 2021, increasing by 9% from 2020, which is directly contributing to the expansion of the blood lancets market since blood sample testing in the most primitive step in diabetes management and treatment procedure.

In addition, access to necessary medications and treatment is seen as the primary concern in the management of diabetes, especially in low- and middle-income countries, and therefore, individuals with diabetes need to have access to systematic, regular, and structured healthcare. Furthermore, blood glucose testing methods are advancing due to technological innovation of testing equipment, increasing testing efficiency and lowering the danger of needlestick accidents which is anticipated to increase demand for blood lancets. Nonetheless, the absence of reimbursement scenarios in emerging nations is expected to affect the market over the forecast period negatively.

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The blood lancets market has been analyzed into type, application, end-user, and geography.

By type, the market has been classified into personal blood lancets and safety blood lancets.

Based on application, the division has been done into glucose testing, hemoglobin testing, and other application.

Based on end-user, the market has been segmented into hospitals & clinics, blood banks, homecare, and others.

By region, North America is expected to retain a considerable market share due to the growing aging population and the spread of chronic diseases among the population above 60. According to data from the United Nations' World Population Prospects, it was projected that the number of senior citizens aged 80 years or older will multiply three times to increase from 143 million to 426 million by 2050. According to the Canadian Chronic Disease Surveillance System, a division of the Canadian Government, approximately 6.3 million persons aged 65 and older will be living with chronic illnesses nationwide in 2021. The simultaneous rise in the aging population and the spread of chronic disease in North American counties are anticipated to grow the blood lancets market in the region

As a part of the report, the major players operating in the blood lancets market covered are Becton, Dickinson, and Company, F. Hoffmann-La Roche Ltd, B. Braun Melsungen AG, Terumo Europe NV, Owen Mumford Ltd, Messe Düsseldorf GmbH, SteriLance Medical (Suzhou) Inc, Medline Industries, Inc, and F.L. Medical SRL.

This blood lancets market has been analyzed into the following segments:

• By Type

o Personal Blood lancets
o Safety Blood lancets

• By Application

o Glucose Testing
o Hemoglobin Testing
o Other application

• By End-User

o Hospitals &Clinics
o Blood Banks
o Homecare
o Others

• By Geography

o North America

• United States
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• United Kingdom
• Germany
• France
• Spain
• Others

o Middle East and Africa

• UAE
• Israel
• Saudi Arabia
• Others

o Asia Pacific

• Japan
• China
• India
• South Korea
• Thailand
• Taiwan
• Indonesia
• Others

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