Diabetic Lancing Device Market Size was valued at USD 1.5 Billion in 2023. The Global Diabetic Lancing Device industry is projected to grow from USD 1.6 Billion in 2024 to USD 2.1 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 14.80% during the forecast period (2024 - 2032). Diabetes is a global epidemic affecting an estimated 382 million people worldwide. The WHO projects that diabetes will be the 7th leading cause of death by 2030. An estimated 4 million people die annually from the complications associated with diabetes.
Therefore, if the current trend associated with the prevalence of diabetes continues over the coming years, the number of diabetic patients across the globe would be tremendous after a decade. Increasing prevalence of diabetes will result in the rising demand for devices and products to monitor and control diabetes, eventually leading to increased consumption of lancets. Thus, the demand for lancets is expected to be enormous in the coming future.
Lancets are one of the widely used alternative device to obtain the blood samples. These devices are receiving global recognition and acceptance due to its several convenient characteristics which gives them an edge over the traditional methods for vein puncture. Some of the important features of the safety lancets are painless vein puncture, easy handling, and safety while using. The major applications of the lancets are HIV screening test, capillary blood micro sampling and cholesterol test, blood group test, coagulation tests, haemoglobin, allergy tests, and many other blood based tests. According to the International Diabetes Federation (IDF), approximately 29.2 million people in the US are estimated suffer from diabetes in 2015. Japan had approximately 7.2 million. in 2015.
Rising prevalence of diabetic population, increasing awareness for blood glucose monitoring device and increased awareness of safety measures in order to avoid the infectious diseases are some of the significant factors of the increased awareness and use of lancets. However, the price erosion is a major issue that is negatively impacting the diabetes management devices. Moreover, significant changes in reimbursement policies in the US for blood glucose monitors, particularly the ongoing impact to the private insurance sector are some of the factors restraining the growth of diabetic lancing device market.
The global diabetic lancing devices market is segmented on the basis of type, gauge, penetration depth, and end user.
On the basis of type, the diabetic lancing device market for diabetic lancing devices it is segmented into safety lancets and standard lancets. The safety lancets are further categorized into push-button safety lancets, pressure activated safety lancets, and side button safety lancets. The pen needles is further categorized into standard pen needles and safety pen needles.
On the basis of gauge, the diabetic lancing device market for diabetic lancing devices it is segmented into 17/18g, 21g, 23g, 25g, 28g, 30g, and others.
On the basis of penetration depth, the diabetic lancing devices market is segmented into 0.8 mm to 1.0 mm, 1.1 mm to 1.5 mm, 1.6 mm to 2.0 mm, 2.1 mm to 2.5 mm, 2.5 mm to 3.0 mm, and others.
On the basis of the end users, it is segmented into hospitals & clinics, diagnostic centers & medical institutions, home care & home diagnostics, research & academic laboratories, and others.
The global diabetic lancing device market consists of countries namely America, Europe, Asia Pacific, and the Middle East and Africa.
Europe is projected to hold the largest share of the global diabetic lancing device market attributed to change in lifestyle, increase in R&D activities for the development of new drugs. According to the International Diabetes Federation (IDF), in 2015 approximately 59.8 million people had diabetes in Europe. HTL Strefa and Sarstedt are two European companies which have marked their presence on the global level as a major manufacturer of lancets and safety lancets in the world.
The Americas holds a key share in diabetic lancing device market. Moreover, North America dominated the overall market in terms of revenue in 2016. In the U.S., ongoing uncertainty as to the future of the Affordable Care Act and the Trump Administration’s repeal and replace initiative may further impact the market.
Asia Pacific is estimated to be the fastest region to grow at a high CAGR during the forecast period, led by an increase in government spending on healthcare services in India and China. A large number of lancet manufacturers are from developing Asian countries such as China, India, Japan and Republic of Korea mainly because of the low labour cost and low R&D cost. China being one of the highly populated and technologically advanced developing countries, has a major number of lancets manufacturers. Some of the renowned Chinese Safety Lancet manufacturers are Guangzhou Improve Medical Instruments Co, Huang and KDL China.
The Middle East & Africa diabetic lancing device market is projected to expand during the forecast period, owing to the rise in investments by market players and increase in prevalence of diabetic lancing devices.
Intended Audience
Diabetic Lancing Device Suppliers
Diabetic Lancing Device Manufacturers
Research and Development (R&D) Companies
Medical Research Laboratories
Academic Medical Institutes and Universities
| Report Attribute/Metric | Details |
| Market Size | USD 2.1 Billion |
| CAGR | 14.80% |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2022 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, gauge, penetration depth, and end user |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | B. Braun Melsungen AG, Terumo Corporation, Becton Dickinson, Sanofi, F. Hoffmann-La Roche AG, Bayer AG, Novo Nordisk A S, Eli Lilly and Company, Owen Mumford Ltd, Medtronic, Ypsomed Holding AG, Sarstedt AG & Co, Greiner Bio One, Abbott Laboratories, HTL-STREFA S.A, Improve Medical, UltiMed, Inc., Allison Medical, Inc., Artsana S.p.a., VOGT MEDICAL, Perrigo Diabetes Care, MedExel Co., Ltd, ARKRAY Inc., Simple Diagnostics, Stat Medical, Terumo, Trividia Health, and others |
| Key Market Opportunities | Research and Development |
| Key Market Drivers | · Rising prevalence of diabetic population · Increasing awareness for blood glucose monitoring device · Increased awareness of diabetic |
Frequently Asked Questions (FAQ) :
diabetic lancing device market is projected to grow at approximately 14.80% CAGR during the assessment period (2024-2032).
Features of these devices such as painless vein puncture, easy handling, and safety, rising prevalence of diabetic population, and increasing awareness for blood glucose monitoring device, are major tailwinds pushing the growth of the global diabetic lancing device market.
High price and significant changes in reimbursement policies blood glucose monitors, are major growth impeder for the global diabetic lancing device market.
Europe holds the largest share in the global diabetic lancing device market, followed by North America and the Asia Pacific, respectively.
B. Braun Melsungen AG, Becton Dickinson, Terumo Corporation, Sanofi, F. Hoffmann-La Roche AG, Novo Nordisk A S, Bayer AG, Eli Lilly and Company, Medtronic, Owen Mumford Ltd, Ypsomed Holding AG, Greiner Bio One, Sarstedt AG & Co, Abbott Laboratories, Improve Medical, HTL-STREFA S.A, UltiMed, Inc., Artsana S.p.a., Allison Medical, Inc., VOGT MEDICAL, MedExel Co., Ltd, Perrigo Diabetes Care, ARKRAY Inc., Stat Medical, Simple Diagnostics, Terumo, and Trividia Health, are some of the top players operating in the global diabetic lancing device market.
Research Analyst Level I He is an extremely curious individual currently working in healthcare and medical devices domain. kinjoll is comfortably versed in data centric research backed by healthcare educational background. he leverages extensive data mining and analytics tools such as primary and secondary research, statistical analysis, machine learning, data modelling. his key role also involves technical sales support, client interaction and project management within the healthcare team. lastly, he showcases extensive affinity towards learning new skills and remain fascinated in implementing them.
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