Lancets Market Report Overview
As per the research, the Lancets Market is expected to grow at a high rate during the forecast period. The report enlightens the market structure by providing an in-depth analysis of the Lancets Market industry.
Lancets Market size was valued at US$ 1141.70 Mn. in 2022 and the total revenue is expected to grow at a CAGR of 12.4% through 2022 to 2029, reaching nearly US$ 2587.72 Mn.
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Lancets Market Report Scope and Research Methodology
The Lancets Market report was developed using a combination of primary and secondary research methods. Primary research involved interviews with industry experts, while secondary research involved a review of industry publications, government reports, and other relevant sources. The report provides a region-wise, segment-wise, and sub-segment-wise analysis of the Lancets Market dynamics, market size, market share, and key players. It also includes a list of the Lancets Market key competitors in the industry, along with their revenue, financial status, product portfolio, investments, mergers, acquisitions, and joint ventures. SWOT analysis was used to identify the strengths and weaknesses of the key players, as well as the opportunities and threats facing the Lancets Market industry. A bottom-up approach was used to estimate the Lancets Market size.
Lancets Market Regional Analysis
The report provides a detailed analysis of the Lancets Market across regions, sub-regions, and countries. Profit forecasts and market share information for each country are included, along with discussions on share and growth rates in each region, country, and sub-market. A comprehensive PEST analysis for North America, Europe, Asia Pacific, Middle East and Africa, and South America evaluates political, economic, social, and technical factors influencing the Lancets Market in these regions.
Lancets Market Segmentation
by Type
Safety Lancets
Personal Lancets
The market is divided into Safety Lancets and Personal Lancets based on the Type. Between 2023 and 2029, the Safety Lancets segment is anticipated to expand at a compound annual growth rate (CAGR) of. Due to its benefits, which include low cost, low risk of infection, and ease of access Safety lancets are also the recommended option for at-home diabetic monitoring in hospitals and clinics. Because the needles on safety lancets are exposed, they also have the added benefit of being portable.
Safety lancets are used to prevent accidental sticks. Retractable needles decrease the risk of spreading infectious diseases. This is a major priority for medical professionals or family members who are testing someone else’s blood glucose. They are perfect for use in public spaces like health fairs and doctor’s offices.
by Application
Blood Glucose Testing
Haemoglobin Testing
Coagulation Testing
Other Applications
The market is divided into four segments based on the application: coagulation testing, hemoglobin testing, blood glucose testing, and other applications. Between 2023 and 2029, the blood glucose testing market is anticipated to expand at a compound annual growth rate (CAGR) of. because blood glucose self-monitoring is becoming more widely known and diabetes is becoming more common.
The International Diabetes Federation estimates that 463 million people worldwide have diabetes, and by 2050, that number is expected to increase to 700 million. The increasing prevalence of impaired blood glucose in patients with type 1 and type 2 diabetes is also a factor in the blood glucose testing market’s expansion.
by End User
Hospitals & Clinics
Home Care Settings
Other End Users
The market is divided into three segments based on the end user: hospitals and clinics, home care settings, and other end users. By 2029, the Hospitals & Clinics segment is anticipated to have the biggest market share. This is brought on by things like the rise in infectious disease cases and the number of diabetic patients who need blood testing kits. In addition, hospital diagnostic testing is more expensive than homecare, which raises market revenue.
The home care settings market is anticipated to expand quickly between 2023 and 2029, with a compound annual growth rate . Numerous factors, such as the proliferation of lancet devices on the market and growing awareness of blood glucose self-monitoring, may be contributing to the growth.
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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
16.Infopia
17.Bayer AG
18.Abbott Laboratories
Key Questions answered in the Lancets Market Report are:
- What is Lancets Market?
- What was the Lancets Market size in 2023?
- What is the expected Lancets Market size by 2030?
- What will be the CAGR of the Lancets Market during the forecast period?
- Which region held the largest market share in the Lancets Market?
- What are the opportunities for the Lancets Market?
- What factors are hampering the Lancets Market growth?
- Which company held the largest share in the Lancets Market?
- What key trends are likely to emerge in the Lancets Market in the coming years?
- Who are the Lancets Market key players in the Lancets Market industry?
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Key offerings:
- A detailed Market Overview
- Market Share
- Market Size
- Market Forecast by Revenue
- Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
- Market Segmentation- A detailed analysis of each segment and their segments
- Competitive Landscape – Leading key players and other prominent key players.
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