Lancets Market Size to Reach USD 2908.59 Mn by 2030, Growing at a CAGR of 12.4% from 2024

Global Lancets Market Poised for Significant Growth Across Key Regions

The global lancets market is on an upward trajectory, driven by the increasing prevalence of chronic diseases like diabetes and advancements in self-monitoring technologies. Lancets Market size was valued at US$ 1283.27 Mn. in 2023 and the total revenue is expected to grow at a CAGR of 12.4% through 2024 to 2030, reaching nearly US$ 2908.59 Mn.

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United States: Growth Fueled by Technological Advancements and Mergers

In the United States, the lancets market is experiencing robust growth, attributed to a well-established healthcare infrastructure and the rapid adoption of advanced diagnostic technologies. The rising prevalence of diabetes necessitates frequent blood glucose testing, further propelling market demand. Notably, in 2022, BD (Becton, Dickinson, and Company) successfully spun off Embecta Corp., creating one of the largest standalone diabetes care companies globally.

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Asia Pacific: Opportunities Arise from Rising Diabetes Cases and Healthcare Initiatives

The Asia Pacific region is anticipated to witness the fastest growth in the lancets market, driven by an increasing incidence of diabetes and improvements in healthcare infrastructure. Countries like China and India are observing a surge in diabetes cases, leading to heightened demand for blood glucose monitoring devices. Government initiatives aimed at promoting integrated healthcare systems across urban and rural areas are further bolstering market growth.

Europe: Trends Indicate Steady Growth Amidst Technological Adoption

Europe's lancets market is experiencing steady growth, supported by the region's advanced healthcare systems and the adoption of innovative medical technologies. The increasing geriatric population, coupled with a rising prevalence of chronic diseases, is driving the demand for lancets. Companies like B. Braun SE and Roche Diagnostics are at the forefront, introducing user-friendly lancet devices to enhance patient compliance and comfort.
Middle East and Africa: Consolidation and Updates in Healthcare Drive Market Expansion

The Middle East and Africa region is gradually embracing advancements in diabetes care, leading to a growing lancets market. Efforts to improve healthcare infrastructure and increased awareness about diabetes management are contributing to market expansion. Collaborations between local healthcare providers and global medical device companies are introducing state-of-the-art lancet technologies to the region.

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Global Lancets Market Segmentation

by Type

Safety Lancets
Personal Lancets

The market is divided into two segments based on type: personal and safety lancets. The Safety Lancets segment is anticipated to expand at a compound annual growth rate (CAGR) between 2024 and 2030. Due to its benefits, which include low cost, little risk of infection, and ease of access Additionally, safety lancets are the recommended option for in-home diabetic monitoring in clinics and hospitals. Because their needles are exposed, safety lancets also have the benefit of being portable.

by Application

Blood Glucose Testing
Haemoglobin Testing
Coagulation Testing
Other Applications

The market is divided into four segments based on the kind of application: coagulation testing, hemoglobin testing, blood glucose testing, and other applications. The blood glucose testing market is anticipated to expand at a compound annual growth rate (CAGR) between 2024 and 2030. due to the increased awareness of blood glucose self-monitoring and the growing prevalence of diabetes.

by End User

Hospitals & Clinics
Home Care Settings
Other End Users

For deeper market insights, peruse the summary of the research report: https://www.maximizemarketresearch.com/market-report/global-lancets-market/31935/

Global Lancets Market Key Players

1. Becton, Dickinson and Company
2. Roche Diagnostics
3. Ypsomed Holding
4. B. Braun Melsungen
5. Terumo Corporation
6. Owen Mumford
7. HTL-Strefa S.A
8. Arkray
9. Sarstedt
10.Sterilance Medical (Suzhou)
11.Medline Industries
12.Intrinsyk
13.I-SENS
14.Nipro
15.Omron

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