Press release
Lancing Devices And Equipment Market Report 2024: Strategies And Recent Developments | Abbott laboratories, B. Braun Melsungen AG, Terumo Corporation, F. Hoffmann-La Roche AG
Lancing Devices And Equipment Market Size
The Business Research Company offers in-depth market insights through Lancing Devices And Equipment Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The lancing devices and equipment market size has grown rapidly in recent years. It will grow from $0.59 billion in 2023 to $0.7 billion in 2024 at a compound annual growth rate (CAGR) of 18.4%. The growth in the historic period can be attributed to diabetes prevalence, patient convenience, home-based monitoring, healthcare digitization.
The lancing devices and equipment market size is expected to see exponential growth in the next few years. It will grow to $1.46 billion in 2028 at a compound annual growth rate (CAGR) of 20.2%. The growth in the forecast period can be attributed to diabetes epidemic continues, advances in testing accuracy, telehealth and remote monitoring, personalized medicine. Major trends in the forecast period include continuous glucose monitoring (cgm) integration, non-invasive glucose monitoring, user-centered design, sustainability and eco-friendly materials.
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Market Segmentation:
The main products of lancing devices and equipment are safety lancets and standard lancets. Safety lancets are sterile, single-use devices intended for capillary blood sampling. The lancing devices and equipment types are reusable and disposable that are available at various penetration depths such as 0.8mm-1mm, 1.1mm- 1.5mm, 1.6mm-2.0mm, and others. The end-users are hospitals and clinics, homecare and home diagnostics, diagnostic centres and medical institutions, research and academic laboratories, and others.
Major Driver - Rising Diabetes Prevalence Fuels Demand For Lancing Devices And Equipment Market
The rising prevalence of diabetes is driving the market for lancing devices and equipment as more people depend on lancing devices to test blood glucose levels. Lancing devices are used by diabetics to obtain samples of blood for testing glucose levels in it. According to the International Diabetes Federation, in 2021, around 537 million adults had diabetes and the number is expected to reach 783 million by 2045. This growth in the number of diabetic patients is expected to increase the demand for lancing devices and equipment, thereby driving the market growth.
Competitive Landscape:
Major companies operating in the lancing devices and equipment market include Abbott laboratories, B. Braun Melsungen AG, Terumo Corporation, F. Hoffmann-La Roche AG, LifeScan Inc., Ascensia Diabetes Care Holdings AG, Becton Dickinson and Company, Bayer AG, Medtronic plc, ARKRAY Inc., Sanofi S.A., Ypsomed Holding AG, Sarstedt AG & Co., Greiner Bio-One, HTL-STREFA S.A, Guangzhou Improve Medical Instruments Co. Ltd., UltiMed Inc., Allison Medical Inc., Artsana S.p.a., Perrigo Diabetes Care, MedExel Co. Ltd., Simple Diagnostics, Stat Medical Inc., Trividia Health, Eli Lilly and Company, Roche Diagnostics, Terumo Corporation, LifeScan, Dynarex Corporation, Dealmed Medical Supplies LLC, Advanced Diabetic Solutions, Medline Industries Inc., Owen Mumford, ARKRAY USA Inc., Nipro Diagnostics Inc., AgaMatrix Inc., Nova Biomedical, Prodigy Diabetes Care LLC, ACON Laboratories Inc.
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Top Trend - Revolutionizing Lancing Devices With Custom Vacuum Technology For Painless Blood Sampling
Lancing device manufacturers are increasingly using custom vacuum technology in lancing devices to minimize pain from poking. Lancing devices that use this technology create a shallow puncture on the skin without hitting the deeper pain nerves and blood is pulled up by the vacuum. For example, the Genteel Lancing Device is a vacuum blood drawing lancing device that draws blood from the capillaries and can be used on different sites on the body apart from fingers.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Lancing Devices And Equipment Market Characteristics
3. Lancing Devices And Equipment Market Trends And Strategies
4. Lancing Devices And Equipment Market - Macro Economic Scenario
5. Lancing Devices And Equipment Market Size And Growth
…..
27. Lancing Devices And Equipment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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