Lancing Devices And Equipment Market Growth Accelerates: Strategic Forecast Predicts $4.58 Billion by 2029

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What Will the Lancing Devices And Equipment Industry Market Size Be by 2025?
The market for lancing devices and equipment has experienced robust growth in past years. The market value is projected to increase from $2.99 billion in 2024 to $3.25 billion in 2025, indicating a compound annual growth rate (CAGR) of 8.5%. The significant growth observed in the historic period is due to factors such as the rising prevalence of diabetes, better patient comfort, the trend towards home-based monitoring, and digitization in the healthcare sector.

What's the Long-Term Growth Forecast for the Lancing Devices And Equipment Market Size Through 2029?
In the upcoming years, the market for lancing devices and equipment is projected to experience robust growth, reaching $4.58 billion by 2029 with a compound annual growth rate (CAGR) of 9.0%. Factors contributing to this growth in the predicted period include an ongoing diabetes epidemic, progress in testing precision, telehealth and remote monitoring, and the progression of personalized medicine. Noteworthy trends to observe in the forecast period encompass the incorporation of continuous glucose monitoring (CGM), non-invasive glucose monitoring, emphasis on user-centric design, along with an increased focus on sustainability and the use of eco-friendly materials.

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What Are the Key Growth Drivers Fueling the Lancing Devices And Equipment Market Expansion?
The escalating incidence of diabetes worldwide is propelling the market growth of lancing devices and equipment, with a rise in the number of individuals relying on these devices to check their blood glucose levels. Diabetics use these lancing devices to gather blood samples for checking their glucose levels. For example, in March 2022, the IDF Diabetes Atlas, a Belgium-based international source that offer extensive data and intelligence on diabetes prevalence, care, and treatment globally, projected that worldwide diabetes incidence is likely to grow from 643 million in 2030 to 783 million by 2045, signifying the addition of 140 million cases. At present, 537 million adults are living with diabetes, with a significant proportion, over 75%, living in low and middle-income nations. This surge in diabetic patient numbers is projected to amplify the demand for lancing devices and equipment, therefore contributing to the expansion of the market.

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What Trends Will Shape the Lancing Devices And Equipment Market Through 2029 and Beyond?
Manufacturers of lancing devices are more frequently using bespoke vacuum technology in their designs to diminish the discomfort resulting from pricking. The devices are engineered to make a superficial skin puncture without affecting deeper pain nerves, with the vacuum drawing up the blood. An illustration of this advanced technology is the Genteel Lancing Device. This vacuum-powered device extracts blood from capillaries and can be utilized on various body parts, not limited to the fingers.

How Is the Lancing Devices And Equipment Market Segmented?
The lancing devices and equipment market covered in this report is segmented -

1) By Type: Reusable, Disposable
2) By Product: Safety Lancets, Standard Lancets
3) By Penetration Depth: 0.8mm-1mm, 1.1mm- 1.5mm, 1.6mm-2.0mm, Other Penetration Depths
4) By End User: Hospitals and Clinics, Homecare and Home Diagnostics, Diagnostic Centres and Medical Institutions, Research and Academic Laboratories, Other End User

Subsegments:
1) By Reusable: Manual Reusable Lancets, Automated Reusable Lancets
2) By Disposable: Pre-filled Disposable Lancets, Single-use Lancets

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Which Companies Are Leading the Charge in Lancing Devices And Equipment Market Innovation?
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.

Which Regions Are Leading the Global Lancing Devices And Equipment Market in Revenue?
North America was the largest region in the global lancing devices and equipment market in 2024. Western Europe was the second-largest region in the lancing devices and equipment market. The regions covered in the lancing devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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