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Lancet Market Trends

Report ID: GMI6239
Published Date: Jul 2023
Report Format: PDF

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Lancet Market Trends

Increasing technological advancements are predicted to accelerate the business development owing to manufacturers introducing innovative features and designs to improve lancet performance, safety, and user experience. For instance, one significant advancement is the development of lancets with ultra-thin needles, such as the BD Nano 4mm lancets by Becton, Dickinson, and Company (BD). These lancets feature a 32-gauge ultra-thin needle, reducing pain and discomfort during blood sampling, especially for blood glucose monitoring. Integrated safety features, such as retractable needles or shields, have further enhanced safety for both healthcare professionals and patients. Moreover, lancet devices are being integrated with digital health solutions, allowing for seamless data capture and analysis. These technological advancements have driven increased adoption of lancets and expanded their use across various healthcare settings.

Authors: Mariam Faizullabhoy , Pratiksha Kamthe

Frequently Asked Questions (FAQ) :

Global market for lancet was worth USD 1.1 billion in 2022 and is estimated to account for USD 1.8 billion by 2032 driven by the growing prevalence of chronic diseases, rising remote patient monitoring trends, favorable reimbursement policies, and the growing adoption of point-of-care testing.

The 23G-33G segment held over 42% share of the lancet industry in 2022 and is anticipated to witness significant growth through 2032 owing to their versatility, optimal balance of comfort and blood volume, clinical recommendations, user preference, and market availability.

The U.S. market generated USD 428.3 million in revenue in 2022 and is poised to witness substantial market growth over 2032 attributed to the presence of the advanced healthcare industry, providing a conducive environment for the utilization of lancets.

AgaMatrix, Abbott Laboratories, All Medicus Co., Ltd., Ascensia Diabetes Care Holdings AG, Arkray, Inc, B. Braun Melsungen AG, Bionime Corporation, DarioHealth Corp., Dexcom, Inc., Essenlife Bioscience, Inc., F. Hoffmann-La Roche Ltd., LifeScan Inc., Medtronic, Nova Biomedical, Inc., and Sinocare Inc. are among the top companies operating in the industry.