Lancets Market Global Forecast to 2024 by Product Type, Applications (Glucose Testing, Hemoglobin Testing), End User (Hospital, Clinic, Homecare), Regions


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Shibuya Data Count

Jan 13, 2021, 07:05 EST


Shibuya-ku, Tokyo, Japan, Japan, Jan 13, 2021, 07:05 /Comserve / -- The prominent players in the lancets market are Becton, Dickinson and Company (US), Roche Diagnostics (Switzerland), Ypsomed (Switzerland), B. Braun Melsungen (Germany), Terumo Corporation (Japan), Own Mumford (UK), HTL-STREFA S.A (Poland)

With COVID-19 resulting in the economic fallout, numerous economies are working on game-changing improvements to protect their employees and clients. While focusing on the ongoing challenges, the leaders are embracing new plans in order to manage and stay afloat in this competitive environment.

The lancets market is projected to reach USD 1,442 million by 2024 from USD 804 million in 2019, at a CAGR of 12.4%. Market growth is attributed to the growing prevalence of diabetes and the high prevalence of infectious diseases. However, the risk of needlestick injuries and the poor reimbursement scenario in developing countries may restrain market growth.

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The prominent players in the lancets market are

Becton,
Dickinson and Company (US),
Roche Diagnostics (Switzerland),
Ypsomed (Switzerland),
B. Braun Melsungen (Germany),
Terumo Corporation (Japan),
Own Mumford (UK),
HTL-STREFA S.A (Poland),
ARKRAY (Japan),
Sarstedt (Germany), and
SteriLance Medical (Suzhou) (China).

“By type, the safety lancets segment is expected to grow at the highest CAGR during the forecast period.”

Based on type, the lancets market is segmented into safety and personal lancets. The safety lancets segment is expected to grow at the highest CAGR during the forecast period. This is mainly due to the benefits associated with safety lancets such as their ease of use, the capability to prevent needlestick injuries and cross-contamination, and painlessness of vein puncture.

“By end user, the hospitals and clinics segment to dominate the lancets market in 2019.”

On the basis of end user, the lancets market is segmented into hospitals and clinics, home care settings, and other end users. The hospitals and clinics segment is expected to hold the largest share of the lancets market in 2019. This is attributed to rising awareness about diabetes treatment and the increasing prevalence of infectious diseases that require blood testing.

“APAC is expected to witness the highest growth during the forecast period.”

North America is expected to account for the largest share of the lancets market in 2019, followed by Europe. The large share of the market in North America can majorly be attributed to the increasing prevalence of diabetes and the favorable reimbursement scenario in the region. However, the APAC region is expected to witness the highest CAGR during the forecast period. This can primarily be attributed to the growing healthcare industry, increasing geriatric population, rapid economic growth, and rising awareness about diabetes treatment.

A breakdown of the primary participants referred to for this report is provided below:

By Company Type: Tier 1–55%, Tier 2–25%, and Tier 3–20%
By Designation: C-level–43%, Director-level–32%, and Others–25%
By Region: North America–38%, Europe–23%, Asia Pacific–29%, Rest of the World–10%

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"The Final Report will cover the impact analysis of COVID-19 on this industry (Global And Regional Market)."

Research Coverage:
The report analyzes the lancets market and aims at estimating the market size and future growth potential of the lancets and the different segments by type, application, and end user. The report also includes an in-depth competitive analysis of the key players in this market along with their company profiles, product offerings, and recent developments.

Reasons to Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a greater share. Firms purchasing the report could use one, or a combination of the below mentioned five strategies for strengthening their market presence.

This report provides insights on the following pointers:
Market Penetration: Comprehensive information on the product portfolios offered by the top players in the lancets market
Product & Service Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product or service launches in the lancets market
Market Development: Comprehensive information on lucrative emerging regions
Market Diversification: Exhaustive information about new products and services, growing geographies, and recent developments in the global lancets market
Competitive Assessment: In-depth assessment of market shares, growth strategies, revenue analysis, and products & services of the leading players in the lancets market

TABLE OF CONTENTS

1 INTRODUCTION 12
1.1 OBJECTIVES OF THE STUDY 12
1.2 MARKET DEFINITION 12
1.3 MARKET SCOPE 13
1.3.1 MARKETS COVERED 13
1.3.2 YEARS CONSIDERED FOR THE STUDY 13
1.4 CURRENCY 14
1.5 LIMITATIONS 14
1.6 STAKEHOLDERS 14
2 RESEARCH METHODOLOGY 15
2.1 RESEARCH DATA 15
2.1.1 SECONDARY DATA 17
2.1.1.1 Key data from secondary sources 17
2.1.2 PRIMARY DATA 18
2.1.2.1 Key data from primary sources 19
2.1.2.2 Key industry insights 20
2.2 MARKET SIZE ESTIMATION 20
2.2.1 MARKET DATA VALIDATION AND TRIANGULATION 22
2.3 ASSUMPTIONS FOR THE STUDY 23
3 EXECUTIVE SUMMARY 24
4 PREMIUM INSIGHTS 28
4.1 LANCETS MARKET OVERVIEW 28
4.2 NORTH AMERICA: LANCETS MARKET, BY TYPE, 2018 29
4.3 EUROPE: LANCETS MARKET, BY TYPE, 2018 30
4.4 LANCETS MARKET: GEOGRAPHIC SNAPSHOT 31
5 MARKET OVERVIEW 32

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