Global Lancing Device Market Share Is Likely To Reach At A CAGR Value Of Around 15% By 2026

06-Mar-2020 | Facts and Factors

Findings from Facts and Factors report “Lancing Device Market By Type (Reuse, and One Time), By Gender Analysis (Men, and Women), By Application Analysis (Hospital, Clinic, and Household) and By Function Analysis (Adjustable, and Non-Adjustable): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global lancing device market in 2019 was above USD 1,200 million. The market is expected to grow at a CAGR of around 15% and is anticipated to reach around USD 2,500 million by 2026.

A lancet is a small, disposable medical device used for capillary sampling of blood. Lancets are used for the diagnosis of several diseases such as diabetes, hyperlipidemia, dyslipidemia, and others. Additionally, it is also used to make minute punctures to take blood samples. Key features of the lancets are it is easy to handle, painless puncture of the vein, and safety while using it. The main applications of the lancets are cholesterol testing, capillary blood microsampling, HBO, and HIV screening testing, and many other blood-based tests.

Browse the full “Lancing Device Market By Type (Reuse, and One Time), By Gender Analysis (Men, and Women), By Application Analysis (Hospital, Clinic, and Household) and By Function Analysis (Adjustable, and Non-Adjustable): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" report at https://www.fnfresearch.com/lancing-device-market-by-type-reuse-and-one-655

The growing number of contagious and non-contagious diseases such as HIV/AIDS, malaria, diarrheal diseases, tuberculosis, lower respiratory infections require blood samples for testing and detection of disease. Owing to this, the use of a lancing device will increase in the forthcoming years.  The worldwide growing prevalence of diabetes may boost the lancet device market. The number of diabetic patients is continuously increasing day by day. Diabetics use the launching devices to obtain blood samples to test glucose levels in it.

Therefore, growth in the number of diabetic patients is projected to increase the demand for the lancing device market. Along with this, Continuous improvements in technologies, on account of substantial investments being focused on research and development by major market manufacturers, are increasing the abilities and reliability of the diabetes care solutions, which further encourage the adoption of the lancing device. This results in the growth of the lancing device market.

Apart from many benefits, the risk associated with a lancet is blood transfusion during or after the test. As lancet is applied to detect the infectious or non-infectious disease it can easily get transferred to among people as it’s related to blood and ifone lancet is used multiple times. Poor health care infrastructure and lack of awareness among the population of developing regions are additional factors to act as restraints on the growth of the global lancets market. Rising incidences of chronic diseases raise the lancing device market. Owing to the rise in disposable income coupled with increasing healthcare expenditure in developed and developing countries may bring lucrative opportunities in the lancing device market. Furthermore, favorable reimbursement policies in the healthcare industry worldwide and the entrance of new lancing devices providers will fuel the market growth over the years to come.

By type, the lancing device market is divided into reuse and one time. Among these, the reuse category led the market with USD 150 million in 2019, and it is expected to grow in the future years.

By gender analysis, the lancing device market is classified into men and women. In this, the men category held the market with a share of more than 55% in 2019, owing to the increasing number of chronic diseases in men.

By application-wise, the lancing device market is categorized into hospitals, clinics, and households. Among these, the hospital segment-headed the market with more than USD 85 million, in 2019. The hospital segment is expected to grow in the upcoming years attributed to the use of lancing devices for the detection of various diseases in the hospitals.

By function analysis, the lancing device market is bifurcated into adjustable and non-adjustable. In this, the adjustable category held the market with a share of above 95%, in 2019. This segment is expected to grow over the forecast period owing to better depth selection and lancet compatibility.

By region, the Asia-pacific region led the market with a share of more than 35% in 2019, and it is projected to increase in the future years due to rising awareness about health and diabetic treatment.

Report Scope

The top manufacturer included in the lancing device market are Visiomed Group, TaiDoc Technology Corporation, Menarini Group, Roche Holding AG, Omron Corporation, Yuyue Medical Equipment & Supply Co., Ltd., Norditalia Group Srl, Medisana AG, iHealth Lab Inc., MED TRUST, IME-DC GmbH, STAT Medical Devices, nu-beca, Biotest Medical Corp., L-TacMediCarePte Ltd., VivaChek Laboratories, Inc., Sannuo Biological Sensing Co Ltd, and others.

This report segments the lancing device market as follows:

Global Lancing Device Market: By Type Segmentation Analysis

• Reuse
• One Time

Global Lancing Device Market: By Gender Analysis Segmentation

• Men
• Women

Global Lancing Device Market: By Application Segmentation Analysis

• Hospital
• Clinic
• Household

Global Lancing Device Market: By FunctionSegmentation Analysis

• Adjustable
• Non-Adjustable

Global Lancing Device Market: Regional Segmentation Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • Germany
  • The UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of the Middle East & Africa

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