Pune, India, May 2019, MRFR Press Release/- Market Research Future has Published a Cooked Research Report on the Global Lancet Market.
Market Highlights
The Lancet market is anticipated to reach USD 2.55 billion by 2030 at 10.50% CAGR during the forecast period 2023-2030
Lancets are being used for diabetes or glucose tests, tests in infants, heel-stick screening tests, as well as for scarred emergency patients or severely burned patients. The factors driving the market growth include growing incidence rate of contagious and non-contagious diseases, increasing prevalence of diabetes, and rising inclination towards home care and home diagnostics. However, the risk associated with blood transfusion is expected to hinder the market growth during the forecast period.
Segment Analysis
The Global Lancet Market based on type has been segmented into safety lancet and personal lancet. Safety lancets can be further divided into push-button safety lancets; pressure activated safety lancets and side button safety lancets. Based on end user, the market is segmented into the hospitals & clinics, diagnostic centers & pathology laboratories, home diagnostics, research and academic laboratories, and others.
Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of Lancet Market Research Report
Market Players
Market Research Future (MRFR) recognizes following companies as key players in the global lancet market that include Terumo Corporation (Japan), Bayer AG (Germany), HTL-STREFA S.A. (Poland), Sarstedt AG & Co. (Germany), Becton, Dickinson and Company (US), Abbott Laboratories (US), F. Hoffmann-La Roche Ltd (Switzerland), Greiner Bio-One International GmbH (US), Improve Medical Instruments Co. Ltd (US) and others.
Regional Analysis
The Global Lancet Market, based on region, is divided into Europe, the Americas, Asia-Pacific, and the Middle East and Africa.
Europe held the largest share of the global lancet market. The Europe market demonstrated substantial growth in the market due to the growing demand and need for safe blood glucose tests in hospitals, clinics, diagnostics centers, etc. and the growth in insulin users. The Americas held a substantial share in the global lancet market owing to the rise in the prevalence of diabetes and the increasing need for a diabetes diagnosis. Asia-Pacific was the fastest growing region in the global market and accounted for 19.1% market share in the global market in 2018. The growth in this region is attributed to the low manufacturing cost and low labor cost in the region. Moreover, the Middle East and Africa showed the least growth owing to low per capita income and lack of adequate healthcare spending.
Key Findings of the Study
- The Global Lancet Market was valued at USD 1,595.5 million in 2018 and is expected to register a CAGR of 10.50% during the forecast period of 2019 to 2024
- Europe accounted for the largest share of the global market due to the growing demand for blood glucose tests in hospitals, clinics, and diagnostics centers
- Safety lancets captured a major share of the global lancet market of around 4% in 2018
- The hospitals & clinics segment held a major share with a market value of USD 544 million in 2018
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Report details
| Base Year | 2019 |
| Companies Covered | 15 |
| Pages | 106 |
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