Lancet Market – A market with high CAGR and return on investment by 2023

Market Research Future adds the “Lancet Market Research Report – Forecast to 2023” report to their unique collection.

F. Hoffmann-La Roche AG, Becton, Dickinson and Company, Greiner Bio One International GmbH, Improve Medical Technology Co. Ltd, Terumo Medical Corporation, HTL-STREFA S.A, Sarstedt AG & Co are some of the prominent players competing in the Global Lancet Market and are profiled in MRFR Analysis.

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Global Lancet Market – Overview

The Global Lancet Market is growing rapidly because of the rising prevalence of diabetes and growing number of blood borne diseases across the globe. According to a recent study report published by the Market Research Future, the global Lancet Market has been increasing. The market is expected to grow at a rapid pace during the forecast period (2016 – 2022). The Lancet Market is forecasted to demonstrate a spectacular growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2016 – 2022). With such a pace MRFR asserts that the global Lancet market will reach USD 2,882.6 million in 2022 and is expected to grow with a CAGR of approximately 11.3% during the forecast period.

The Lancet industry is dynamic and essential component of the health care sector. Advances in technology improve medical devices to simplify the prevention, diagnosis and treatment of diseases. Globally lancets are being utilized by patients who are affected by endocrine related complications, cardiovascular issues and many other issues. Lancets are being used for diabetes/glucose test, tests in infants, heel-stick screening tests, as well as for scarred emergency patients or severely burned patients. Technological advancement and increasing demand for effective and advance technology-based products is anticipated to boost the market size of Global Lancet Market. If the current trends in diabetes prevalence continues over the coming years, the number of diabetic patients would grow tremendously after a decade. With increasing diabetic prevalence, the demand of lancets is expected to be enormous, thus resulting in the increasing demand for devices and products to monitor and control diabetes, eventually leading to increased consumption of lancets. Sharps/ needle injury, also sometimes called as a percutaneous injury OSHA reports that nearly 55% of all percutaneous injuries are caused by hollow bore needles including phlebotomy needles. Additionally, growing prevalence of Needle bore injuries and Infectious Diseases for instance HIV are providing impetus to the market growth of Lancet Market as Lancets are designed for single use and to reduce or eliminate the risk of exposure to blood-borne pathogens.

The global lancet market has been evaluated as swiftly growing market in the coming future and it is expected that the market will have high demand globally. The global lancet market is undergoing a rapid change. Current discussions and proceedings have brought into examination’s the competence of existing regulatory frameworks for medical devices in developed and developing regions to guarantee the devices performance, quality and safety. Medical device regulation must be enhanced and improved to safeguard public/patient health and ensure that effective technologies and high-quality products reach patients.

Global Lancet Market- Competitive Analysis

Characterized by the presence of several well-established and small players, the global Market of Lancer appears to be highly fragmented and competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position. The Key players operating in the market compete based on pricing, product launch, technology launch, and reputation.

Manufacturers adopt modern manufacturing process to ensure safety and convenience. Marketers employ a continuous improvement strategy to analyze and update products, implementing improvements and launching new solutions to meet the changing needs of both patients and health care professionals. Manufacturers strive to fulfil the most restrictive hygienic and sterility standards while ensuring that the design of their products is defined by ergonomics, simplicity and reliability.

Global Lancet Market – Segments

The Lancet Market can be segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;

Segmentation by Types: Comprises Personal, Safety and others.

Segmentation by End Users: Comprises Hospitals & Clinics, Diagnostic Centers and Pathology Laboratories, Home Diagnostics, and others.

Segmentation by Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.

On the basis of type, safety lancets account the largest market share in 2015 and is expected to reach USD 2,061.8 million by 2022.

Global Lancet Market – Regional Analysis

Globally North America is the largest market for Lancet. The North American market for Lancet is expected to grow at a CAGR of 11.2% during the forecasted period. This is due to increasing prevalence of diabetic patients. Europe is the second-largest market for Lancet with the market value of USD 592.8 million in 2015. Whereas Asia pacific is expected to be a growing market for Lancet market and expected to grow at a rapid rate.

Browse Related Report

The Global Safety Lancet Market is expected to reach USD 2,305.1 million in 2023 from USD 1,056.2 million in 2016 with a CAGR of 11.8% during the forecast period 2017-2023.


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