Press release
Safety Lancet Market valued at USD 1.59 Bn in 2022, is projected to witness substantial growth, with revenues expected to reach nearly USD 2.53 Bn by 2029, growing at a CAGR of 9.5 Percent during the forecast period.
Safety Lancet Market
The safety lancet market is an integral part of the healthcare industry, focusing on the production and distribution of disposable devices used for blood sampling and allergy detection. With the rising prevalence of diabetes and infectious diseases globally, safety lancets have become essential tools in blood glucose monitoring and diagnostic tests. These devices ensure safety and hygiene by minimizing the risk of contamination and infection through single-use disposal.
Our comprehensive market research follows a robust methodology, including primary and secondary research, extensive data collection, and analysis from reputable sources. The report provides valuable insights into market trends, drivers, restraints, and regional dynamics.
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Safety Lancet Market Dynamics:
The market growth is primarily driven by the increasing incidence of diabetes and infectious diseases worldwide, along with the demand for convenient, easy-to-use, and single-use lancets. Emerging markets such as India and China present significant growth opportunities, driven by the expanding healthcare infrastructure and growing healthcare awareness among the population.
However, healthcare workers' concerns over needlestick injuries and the potential risk of infection due to lancet reuse hinder market growth. To address these concerns, the adoption of single-use lancets is on the rise.
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Safety Lancet Market Regional Insights:
With a large patient pool and favorable reimbursement policies, North America dominated the safety lancet market in 2022. The region witnesses frequent new product launches and increasing healthcare expenditure, contributing to market growth.
The Asia Pacific region is expected to experience the fastest growth during the forecast period, driven by improving healthcare infrastructure, a significant patient population, and increasing demand for diagnostic tests, especially in response to infectious diseases like dengue, Zika, and COVID-19. Europe is expected to witness significant growth due to rising healthcare expenditure, the incidence of diabetes, and favourable reimbursement policies. The region is transitioning toward home-based diagnosis and treatment, further boosting the safety lancet market.
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Safety Lancet Market Segmentation
By Type:
• Safety Lancet
o Push Button Lancet
o Pressure activated lancet
o Side Button Lancet
• Personal Lancet
By Application:
• Blood Glucose Testing
• Hemoglobin Testing
• Cholesterol Testing
• Coagulation Testing
• Other Application
By End User;
• Hospitals & Clinics
• Homecare Settings
• Others
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Safety Lancet Market Key Competitors include:
• Roche Diagnostics (Basel, Switzerland)
• Abbott Laboratories (Illinois, United States)
• Becton, Dickinson and Company (New Jersey, United States)
• Terumo Medical Corporation (Tokyo, Japan)
• Cardinal Health, Inc. (Ohio, United States)
• Greiner Bio-One International GmbH (Frickenhausen, Germany)
• HTL-STREFA S.A. (Ozorków, Poland)
• Sarstedt AG & Co. KG (Nümbrecht, Germany)
• Nipro Corporation (Osaka, Japan)
• Improve Medical Technology Co. Ltd. (Guangzhou, China)
• Simple Diagnostics (Florida, United States)
• Ypsomed AG (Burgdorf, Switzerland)
• Owen Mumford Ltd. (Oxfordshire, United Kingdom)
• Arkray Inc. (Kyoto, Japan)
• Perrigo Company plc (Dublin, Ireland)
• Smiths Medical (Minnesota, United States)
• Medline Industries, Inc. (Illinois, United States)
• Omron Healthcare, Inc. (Kyoto, Japan)
• F. Hoffmann-La Roche AG (Basel, Switzerland)
• Trinity Biotech (Bray, Ireland)
• Accu-Chek (Basel, Switzerland)
• LifeScan, Inc. (Pennsylvania, United States)
• Microdot Healthcare (Gyeonggi-do, South Korea)
• MED TRUST Holding Co. (Riyadh, Saudi Arabia)
• Nemaura Medical Inc. (Loughborough, United Kingdom)
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Table of Content for Safety Lancet Market
1. Global Safety Lancet Market: Research Methodology
2. Global Safety Lancet Market: Executive Summary
• Market Overview and Definitions
o Introduction to Global Market
• Summary
o Key Findings
o Recommendations for Investors
o Recommendations for Market Leaders
o Recommendations for New Market Entry
3. Global Safety Lancet Market: Competitive Analysis
• MMR Competition Matrix
o Market Structure by region
o Competitive Benchmarking of Key Players
• Consolidation in the Market
o M&A by region
• Key Developments by Companies
• Market Drivers
• Market Restraints
• Market Opportunities
• Market Challenges
• Market Dynamics
• PORTERS Five Forces Analysis
• PESTLE
• Regulatory Landscape by region
o North America
o Europe
o Asia Pacific
o Middle East and Africa
o South America
• COVID-19 Impact
4. Global Safety Lancet Market Segmentation
• Global Market, by Type (2021-2029)
• Global Market, by Application (2021-2029)
• Global Market, by End User (2021-2029)
5. Regional Safety Lancet Market (2021-2029)
• Regional Market, by Type (2021-2029)
• Regional Market, by Application (2021-2029)
• Regional Market, by End User (2021-2029)
• Regional Market, by Country (2021-2029)
6. Company Profile: Key players
• Company Overview
• Financial Overview
• Global Presence
• Capacity Portfolio
• Business Strategy
• Recent Developments
Key Offerings:
• Past Market Size and Competitive Landscape (2018 to 2021)
• Past Pricing and price curve by region (2018 to 2021)
• Market Size, Share, Size & Forecast by different segment | 2022-2029
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation - A detailed analysis by Type, Application and End User
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations
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