Lancets Market

The lancets market is projected to reach USD 3.6 billion by 2028 from USD 2.3 billion in 2023, at a CAGR of 9.7% during the forecast period. Factors such as Increasing demand for painless lancets and the Increasing awareness of novel technologies will boost the growth of lancets. For Instance, Owen Mumford introduced a 16-gauge (16G) safety lancet for high-volume capillary blood sampling into its leading Unistik product range. The new Unistik Touch 16G has one-touch activation and Comfort Zone Technology that minimizes the pain of finger sampling and  Greiner Bio-One introduced MiniCollect PIXIE Heel Incision Safety Lancet to expand its portfolio with a new safety lancet specially designed for heel incisions.

The lancets market is highly consolidated and is dominated by various players. The major players operating in this market are Becton, Dickinson and Company (US), F. Hoffmann-La Roche Ltd. (Switzerland), B. Braun (Germany), Abbott Laboratories (US), Greiner Bio-One International GmbH (Austria) and Terumo Corporation (Japan). These include product launches, contracts, partnerships, mergers and acquisitions, and new product development activities further to expand their presence in the lancets market.

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BECTON, DICKINSON AND COMPANY

BD is a global medical technology company engaged in the development, manufacturing, and sale of a broad range of medical supplies, devices, laboratory equipment, and diagnostic products. The company has a robust geographical presence. Its products are manufactured and sold worldwide, including in the US, Canada, Europe, the EMA (which includes the Commonwealth of the Independent States, the Middle East, and Africa), Greater Asia (East, South, Southeast Asia, and Oceania), Latin America (Mexico, Central America, the Caribbean, and South America). In 2022, BD completed the separation and distribution of Embecta, formerly BD’s Diabetes Care business, into a separate, publicly traded company. The historical results of the Diabetes Care business (previously included in BD’s Medical segment), as well as interest expense related to indebtedness incurred by Embecta prior to the spinoff date, have been reflected as discontinued operations in the consolidated financial statements for all periods prior to the spinoff date of April 1, 2022. Therefore, The company focuses on organic growth strategies such as expansions, innovation, and product launches as its key strategies for revenue growth. Such initiatives are expected to help the company strengthen its presence in the US and drive its production capacity to gain a competitive edge in the market.

Hoffmann-La Roche ltd.

F. Hoffmann-La Roche is a well-known innovation and research-driven healthcare company that offers unique lancets that make blood glucose testing easier for both physicians and diabetic patients. Roche’s strong geographic presence in North America, Europe, and the Asia Pacific helps the company to manage sales and distribution effectively and to serve its customers better. The company focuses on research and development to provide innovative products to its end users. The company’s wide product portfolio and strong geographic presence have helped it gain a competitive edge in the market. Roche has a strong direct and indirect distribution network across the globe. Its strong investments in developing innovative products have helped it become a reputable player in the lancets market. This high R&D spending indicates the company’s increased focus on innovation and diversification in emerging markets. In 2023, Astellas Pharma 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 2021, F. Hoffmann-La Roche announced the launch of the new Accu-Chek Instant system, a new connected blood glucose monitoring (BGM) system, which supports and enables Roche’s approach to integrated personalized diabetes management (iPDM).

B. Braun SE

B. Braun SE is an important player in the lancets market. B. Braun SE is a leading healthcare supplier, providing products for various application areas, such as anesthesia, intensive care, cardiology, extracorporeal blood treatment, and surgery. It also provides a range of healthcare services for hospitals, private practitioners, and home care treatment. B. Braun is present in about 64 countries across North America, Europe, the Asia Pacific, Africa, the Middle East, and Latin America. It has 262 consolidated companies across the globe. The company’s major manufacturing sites are in Germany, Brazil, China, France, India, Malaysia, Poland, Switzerland, Spain, Hungary, the US, the Dominican Republic, and Vietnam. The company’s subsidiaries include B. Braun Surgical GmbH (Germany), B. Braun Medical A/S (Denmark), B. Braun Medical B.V. (Netherlands), B. Braun Medical S.A. (Spain), B. Braun Aesculap Japan Co. Ltd. (Japan), and B. Braun Medical (H.K.) Ltd. (China). In 2021, B. Braun Melsungen AG, a German medical and pharmaceutical device company, acquired Sterinova Inc. for an undisclosed amount. Sterinova will continue to operate as a distinct subsidiary of B. Braun Melsungen AG. Sterinova is a Canadian company that develops, manufactures, and distributes ready-to-use sterile injectable products in syringes and premix bags.

Terumo Corporation

Terumo Corporation is one of the world’s largest medical device manufacturers. Terumo Corporation has a wide geographical presence and a diversified products and services portfolio that helps it maintain its leading position in the market. The company offers a broad range of blood collection products, especially apheresis systems, through its subsidiary Terumo BCT. The company has a strong geographic presence across the globe and invests a significant amount of its revenue in R&D. The company increased manufacturing flexibility with new facilities in the US and Costa Rica with a strong brand reputation in the blood and blood components market. There is an increase in opportunities for the adoption of new therapies in response to unmet medical needs in the therapeutic apheresis market. In Japan, with regard to products for blood centers, there was a slight fall in revenue due to reduced demand for blood bags. Overseas, particularly in Europe and the Americas, there was a recovery in demand for whole blood collection products and automated cellular and blood component manufacturing products, as well as for apheresis treatment. China saw strong revenue growth of nearly 30%, with particularly high growth in demand for blood collection devices for use in blood centers.

Greiner Bio-One International GmbH

Greiner Bio-One is a global player in the field of medical technology and life science. Under the VACUETTE brand name, it provides items for collecting human and veterinary samples. With over 2,300 employees and 28 locations, Greiner Bio-One is a leading producer of quality products for laboratory requirements. Some of the prominent subsidiaries of the company are Greiner Bio-One Hungary Kft. (Hungary), Greiner Bio-One North America, Inc. (US), Greiner Bio-One North America Sales Corp. (US), Greiner Bio-One France S.A.S. (France), Greiner Bio-One Brasil Products Medicos Hospitalares Ltda. (Brazil), Greiner Bio-One (Thailand) Ltd., Greiner Bio-One Suns Co., Ltd. (China), and Greiner Bio-One Italia S.R.L. (Italy). In the 2021 financial year, the company employed around 4,900 people at 32 locations in 19 countries. In 2021, Greiner Bio-One introduced MiniCollect PIXIE Heel Incision Safety Lancet to expand its portfolio with a new safety lancet specially designed for heel incisions.

Related Reports:

Lancets Market by Type (Safety Lancets (Manually & Pressure activated), Standard Lancets, Application (Glucose Testing, Cholesterol Testing), Gauze Size (22G and Below), Age Group (Adult, Pediatrics), End Users (Hospitals), Region - Global Forecast to 2028

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