Lancets Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

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Lancets Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

Status : March, 2020 | Medical Devices | PPT format

Report Digest


Global Lancets Market: Overview

Lancets are a thin needle used to pierce the skin, primarily for diabetes. The lancet market is gaining popularity over the years and expected to grow at a staggering rate in the following years. It falls under medical device category and is a boon to the medical sector.

Hospitals are projected to create a huge demand for lancets to cater to large number of in and out patients, owing to the substantial growth in the global lancets market during the forecast period.

TMR Research report sheds some lights about the market trends, share, size during the forecast period. The report also shares detailed insights on geographical outlook, growth and restraints of the global lancets market.

Global Lancets Market: Key Developments

Some of the key developments that have taken place in the global lancet market are as given below:

  • In February 2019, Roche entered a merger to acquire Spark Therapeutics, the pioneer in gene therapies. The aim of both the companies is to broaden the avenues for gene therapy, cover more diseases under gene therapies and eradicate the gene based diseases.
  • In 2018, Investindustrial acquired one of the prominent companies HTL-STREFA to expand the services of catering to diabetes patients across the globe.

Some of the most prominent competitors operating in the competitive landscape of lancets market include –

  • Roche Diagnostics (Switzerland)
  • B. Braun Melsungen (Germany)
  • Own Mumford (UK)
  • Terumo Corporation (Japan)
  • SteriLance Medical (Suzhou) (China)
  • Sarstedt (German)
  • ARKRAY (Japan)

All these companies offer lancets to end users such as pharmacies, hospitals, clinics, and home users.

Global Lancets Market: Key Trends

Prevalence of Diabetes to Surge Lancets Market

Rising occurrence of diabetes is expected to drive the global lancets market during the forecast period. Gestational diabetes among pregnant women, rising geriatric population are expected to expand the market.

Additionally, rising number of infectious diseases are projected to drive the global lancets market during the forecast periods. Rapid changes in lifestyle results in disease such as diabetes, thus owing in the growth of the lancets market. Further, rising awareness, easy to use, easy accessibility are some of the few other factors that are projected to aid in the growth of the global lancets market during the forecast period.

On the basis of product, the global lancet market is segmented into safety lancet and personal lancet. Safety lancet is further divided into pressure activated safety lancets, side button safety lancets, and push button safety lancets.

The injuries resulting from the use of lancets due to lack of knowledge about the use is anticipated to hamper the growth of the global lancets market.

Nevertheless, the huge demand from various end users such as clinics, hospitals, and homes are projected to expand the global lancets market in the future. Also growing advances in healthcare sector is projected to drive the lancets market towards a robust growth in the next few years.

Global Lancets Market: Geographical Analysis

 Lancets market is divided into five key regions namely, South America, North America, Europe, Asia Pacific, and Middle East and Africa. However, Asia Pacific is projected to dominate the global lancets market over the forecast period. The major growth can be expected from India and China, this is mainly due to rising populations, fast paced economic growth, and rising awareness about diabetes are some of the factors that are expected to drive the global lancets market. Currently, North America holds the highest growth in the global lancets market. The growth in this region can be attributed technologically advanced devices and rising old population. 

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.

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