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 : November, 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. 

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

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

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?