Press release
The Global Safety Lancet Market is poised for substantial growth, with a market value of USD 1.59 Bn in 2022.
Safety Lancet Market
The safety lancet market is a crucial segment of the healthcare industry, specializing in the production and distribution of single-use, sterile devices designed for capillary blood sampling. These devices, similar to small scalpels, are equipped with a double-edged needle or blade for making punctures, such as fingersticks, to obtain blood specimens. With their disposable nature, safety lancets offer optimal safety and hygiene, making them an ideal choice for medical facilities and individuals prioritizing safety. Apart from blood sampling, safety lancets are also used for skin testing procedures to detect allergies and glucose level testing in diabetic patients. The thin and tiny needles of safety lancets require replacement after each use, reducing the risk of contamination and infection.
The safety lancet market is primarily driven by the increasing prevalence of diabetes and infectious diseases worldwide. Lancets play a crucial role in blood glucose monitoring and various diagnostic tests, contributing to their growing demand. Emerging markets like India and China present significant growth opportunities during the forecast period, fueled by the rising number of healthcare facilities and growing healthcare awareness among the population. However, factors such as the risk of needlestick injuries and the reuse of lancets pose challenges to market growth. Consequently, the adoption of single-use lancets is on the rise to mitigate these risks.
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Safety Lancet Market Dynamics:
The global burden of diabetes is projected to double in the next 25 years, driving the demand for safety lancets as a safe and reliable method for capillary blood sampling in diabetic patients. Innovations in lancet design and manufacturing, such as retractable lancets and pre-loaded lancets, have improved safety and convenience, contributing to market growth. Additional advancements include lancets with alternate site testing (AST) capabilities and adjustable depth settings.
The safety lancet market is segmented based on type, application, and end user. The market is dominated by safety lancets, particularly push-button safety lancets, in 2022. Blood glucose testing is the leading application segment, while hospitals represent the largest end-user segment.
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Safety Lancet Market Regional Insights:
North America currently leads the safety lancet market, owing to its large patient pool and favorable reimbursement policies. The Asia Pacific region is expected to exhibit the fastest growth, driven by improving healthcare infrastructure and the rising demand for diagnostic tests. Europe is also projected to witness significant growth due to increasing healthcare expenditure and the shift towards home-based diagnosis and treatment.
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Safety Lancet Market Segmentation:
By Type:
1. Safety Lancet
1.2 Push Button Lancet
1.3 Pressure activated lancet
1.4 Side Button Lancet
Personal Lancet
By Application:
1. Blood Glucose Testing
Hemoglobin Testing
Cholesterol Testing
Coagulation Testing
Other Application
By End User:
2.Hospitals & Clinics
Homecare Settings
Others
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Safety Lancet Market Key Competitors include:
1. Roche Diagnostics (Basel, Switzerland)
2. Abbott Laboratories (Illinois, United States)
3. Becton, Dickinson and Company (New Jersey, United States)
4. Terumo Medical Corporation (Tokyo, Japan)
5. Cardinal Health, Inc. (Ohio, United States)
6. Greiner Bio-One International GmbH (Frickenhausen, Germany)
7. HTL-STREFA S.A. (Ozorków, Poland)
8. Sarstedt AG & Co. KG (Nümbrecht, Germany)
9. Nipro Corporation (Osaka, Japan)
10.Improve Medical Technology Co. Ltd. (Guangzhou, China)
11.Simple Diagnostics (Florida, United States)
12.Ypsomed AG (Burgdorf, Switzerland)
13.Owen Mumford Ltd. (Oxfordshire, United Kingdom)
14.Arkray Inc. (Kyoto, Japan)
15.Perrigo Company plc (Dublin, Ireland)
16.Smiths Medical (Minnesota, United States)
17.Medline Industries, Inc. (Illinois, United States)
18.Omron Healthcare, Inc. (Kyoto, Japan)
19.F. Hoffmann-La Roche AG (Basel, Switzerland)
20.Trinity Biotech (Bray, Ireland)
21.Accu-Chek (Basel, Switzerland)
22.LifeScan, Inc. (Pennsylvania, United States)
23.Microdot Healthcare (Gyeonggi-do, South Korea)
24.MED TRUST Holding Co. (Riyadh, Saudi Arabia)
25.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
• Introduction to Global Market
• Summary
• Key Findings
• Recommendations for Investors
• Recommendations for Market Leaders
• Recommendations for New Market Entry
3. Global Safety Lancet Market: Competitive Analysis
• MMR Competition Matrix
• Market Structure by region
• Competitive Benchmarking of Key Players
• Consolidation in the Market
• 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
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
• COVID-19 Impact
4. Global Safety Lancet Market Segmentation
• Global Market, by Type (2022-2029)
• Global Market, by Application (2022-2029)
• Global Market, by End User (2022-2029)
5. Regional Safety Lancet Market (2022-2029)
• Regional Market, by Type (2022-2029)
• Regional Market, by Application (2022-2029)
• Regional Market, by End User (2022-2029)
• Regional Market, by Country (2022-2029)
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 2022)
• Past Pricing and price curve by region (2018 to 2022)
• 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
o Competitive landscape - Market Leaders, Market Followers, Regional player
o 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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About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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