Overview and Scope
Lancing devices and equipment are used to prick the skin to obtain blood samples for testing glucose levels.
Sizing and Forecast
The lancing devices and equipment market size has grown rapidly in recent years. It will grow from <b>$0.59 billion in 2023 to $0.7 billion in 2024 at a compound annual growth rate (CAGR) of 18.4%. </b> 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 <b>$1.46 billion in 2028 at a compound annual growth rate (CAGR) of 20.2%. </b> 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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Segmentation & Regional Insights
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
<b>North America</b> was the largest region in the global lancing devices and equipment market in 2023. <b>Western Europe</b> 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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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the lancing devices and equipment market include <b> 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. </b>
The lancing devices and equipment market report table of contents includes:
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. Global Lancing Devices And Equipment Market Size and Growt
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26. South America Lancing Devices And Equipment Market
27. Brazil Lancing Devices And Equipment Market
28. Middle East Lancing Devices And Equipment Market
29. Africa Lancing Devices And Equipment Market
30. Lancing Devices And Equipment Market Competitive Landscape And Company Profiles
Top Major Players:
- Abbott laboratories
- B. Braun Melsungen AG
- Terumo Corporation
- F. Hoffmann-La Roche AG
- LifeScan In
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