The Lancing Devices And Equipment Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).
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According to The Business Research Company’s Lancing Devices And Equipment Global Market Report 2024, 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.
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.
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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
The lancing devices and equipment market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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