Lancets Market: Growth, Size, Share, and Trends

Market Growth Outlook Summary

The global lancets market growth forecasted to transform from US$ 2.3 billion in 2023 to US$ 3.6 billion by 2028, driven by a CAGR of 9.7%. Factors such as the increasing demand for painless lancets and growing awareness of novel technologies are driving the growth of this market. For instance, Owen Mumford introduced a 16-gauge (16G) safety lancet for high-volume capillary blood sampling within its leading Unistik product range. The new Unistik Touch 16G features one-touch activation and Comfort Zone Technology, which helps minimize the pain of finger sampling. Additionally, Greiner Bio-One expanded its portfolio by introducing the MiniCollect PIXIE Heel Incision Safety Lancet, a new safety lancet specifically designed for heel incisions.

Lancets Market – Global Forecast and Growth Insights to 2028

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Lancets Market – Global Forecast and Key Opportunities to 2028

Lancets Market Dynamics to 2028

DRIVER: Growing prevalence of diabetes and increasing adoption of self-monitoring devices

The prevalence of diabetes has increased significantly in the last few years. According to the IDF Diabetes Atlas, about 537 million adults (20–79 years) are living with diabetes. This number is projected to rise to 643 million by 2030 and 783 million by 2045. Over 3 in 4 adults with diabetes live in low- and middle-income countries. Diabetes was responsible for 6.7 million deaths in 2021 (1 every 5 seconds).

• According to the Centers for Disease Control and Prevention (CDC), in 2020, more than 34 million Americans had diabetes, which is nearly 11% of the US population.There are 1.5 million new cases of diabetes in the United States each year.

Lancets Market: Incidence of Diabetes, 2021 vs. 2045 (in Millions)

Source: International Diabetes Federation

The treatment for diabetes includes regular monitoring of glucose levels. Lancets are small and sharp medical devices used to draw a small drop of blood on the surface to test blood glucose with the help of a blood glucose monitor. The growing prevalence of diabetes has resulted in the increased adoption of lancets to effectively handle the growing patient pool.

OPPORTUNITY: High growth prospects in emerging countries

Emerging markets, such as India, China, and countries in Southeast Asia, showcase promising opportunities for the lancets industry due to their huge patient populations and increasing disposable incomes. The penetration of lancets is currently low in these countries. This is due to the limited product acceptance and lack of awareness in these countries. The scarcity of financial resources is another factor limiting the adoption of lancets in these countries. The introduction of cost-effective products and extensive promotional and awareness campaigns to improve the adoption of lancets can effectively overcome these challenges and help increase the penetration of lancets in developing countries.

In 2019, Sanofi India Limited launched the KiDS (Kids & Diabetes in Schools) program that provides diabetes education and promotes a healthy lifestyle in the school environment and the communities. The aim is to ensure a healthy tomorrow for future generations.

CHALLENGE: Increasing incidence of lancet-related needlestick injuries and infections

Needlestick injuries (NSIs) remain a global threat, with an estimated 44.5% of healthcare workers experiencing at least one occurrence annually. In Europe, steps have been taken to combat sharps injuries. The EU Directive 2010/32/EU has sparked greater conversation around implementing safer work environments and practices to help protect healthcare workers from needlestick injuries and infections.

Needlestick injuries are one of the major risks associated with personal lancet usage. According to the American Medical Association, in the US, around 600,000 to 800,000 needlestick injuries are reported every year. Approximately 5.6 million healthcare workers in the US alone are at risk of occupational exposure to bloodborne pathogens via needlestick or other sharps-related injuries (Source: Occupational Safety and Health Administration). The CDC estimates that an average of 385,000 needlestick injuries occur annually in US hospital settings.

The increasing number of needlestick injuries (NSIs) and infections arising from contaminated lancets is a major concern faced by both patients and doctors across the globe. Needlestick injuries are one of the most serious health and safety threats associated with the use of lancet needles.

Lancets Market Map & Ecosystem Overview

Prominent companies in this market include well-established, financially stable manufacturers of lancets, safety lancets and standard lancets. These companies have been operating in the market for several years and possess a diversified product portfolio, state-of-the-art technologies, and strong global sales and marketing networks.

In 2022, safety lancets segment to observe highest growth rate of the lancets market, by type

Based on the type, the global market is broadly segmented into safety and standard lancets. Safety lancets segment to raising demand for painless lancets and the treatment of testing of diabetes and other chronic disease in geriatric patients. For instance, In the US, the population of individuals aged 65 years and above is estimated to increase from 44.4 million in 2013 to 72.8 million by 2030, representing an increase of 64%; this figure is further expected to reach 89 million by 2050 (Source: US Census Bureau and Population Reference Bureau, Vol. 66, No. 1). It is estimated that one in three people in Japan will be aged 65 years and above by 2035 (Source: Japan’s National Institute of Population and Social Security Research).

In 2022, Hospitals, Clinics and Ambulatory Surgery Centers segment to dominate the lancets market, by end user

Based on end user, the market is segmented into Hospitals, Clinics and Ambulatory Surgery Centers, Homecare settings and other end users. into Hospitals, Clinics and Ambulatory Surgery Centers to dominate the market due to increasing number of geriatric populations which will increase the demand of rising number of hospitals and surgical centers. The number of hospitals and surgical centers is increasing across the globe due to the rising demand for regular glucose testing, hemoglobin testing, cholesterol testing, allergy testing, coagulation testing, and neonatal screening. The number of hospitals and surgical centers is increasing in both developed and emerging countries. The demand for medical or surgical devices (including lancets) is high in these newly established surgical centers and hospitals, owing to the increasing patient population base

In 2022, North America to dominate in Lancets market

Based on the region segmentation, the lancets market is divided into North America, Europe, Asia Pacific and the Rest of the World. North America holds the largest share and expects to dominate the lancets market. Growth in the North American market is mainly driven by development and awareness of novel technologies, growing geriatric population and increasing number of hospitals and surgical centers. For instance, In 2021, FUJIFILM Corporation opened NURA, a medical screening center focusing on cancer screening in Bangalore, India. This medical screening center is operated by FUJIFILM DKH LLP (FUJIFILM DKH) and Dr. Kutty’s Healthcare (DKH). FUJIFILM DKH LLP (FUJIFILM DKH) is a joint venture of FUJIFILM and Dr. Kutty’s Healthcare (DKH), which runs hospitals and screening centers in India and the Middle East.

Lancets Market by Region – Forecast to 2028

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The global lancets market is dominated by players such as Becton, Dickinson and Company (US), F. Hoffmann-La Roche Ltd. (Switzerland), B. Braun SE (Germany), Abbott Laboratories (US), Greiner Bio-One International GmbH (Austria), Ypsomed (Switzerland), and Terumo Corporation (Japan).

Lancets Market Report Scope and Insights

Lancets Market Segmentation and Analysis

By Region

• North America
• Europe
• Asia Pacific
• Rest of the World

By Product

• Standard Lancets
• Safety Lancets
• Manually Activated
  • Push Button Lancets
  • Side Button Lancets
• Automatically activated/Pressure activated

By Application

• Glucose Testing
• Hemoglobin Testing
• Coagulation Testing
• Cholesterol Testing
• Allergy Testing
• Neonatal Screening
• Other Applications

By Gauze Size

• 22G and below
• 23G-33G
• Above 33G

By Age Group

• Adult
• Pediatrics

By End User

• Hospitals, Clinics and Ambulatory Surgery Centers
• Homecare settings
• Other end users (Diagnostic centers, Nursing Homes, Long Term Acute Care Centers, Emergency Medical Service Providers, and Academic Research Institutes)

Lancets Market Recent Developments and Insights

• In 2023, Astellas Pharma announced that it has entered into an agreement with Roche Diabetes Care Japan Co., Ltd. for the development and commercialization of Roche Diabetes Care’s world-renowned Accu-Chek Guide Me blood glucose monitoring system with advanced accuracy as a combined medical product with BlueStar.
• In 2022, BD announced the completion of the spinoff of Embecta Corp., which holds BD’s former Diabetes Care business and is one of the largest diabetes management companies in the world.
• In 2021, Greiner Bio-One introduced MiniCollect PIXIE Heel Incision Safety Lancet to expand its portfolio. The new safety lancet is specially designed for heel incisions.

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