According to the latest report, the global safety lancet market is predicted to reach USD 2,305.1 Million by the end of the year 2023 from USD 1,056.2 Million in the year 2016 with registering a CAGR of 11.8% during the forecast period of 2017 to 2023. A safety lancet is a small piece of medical equipment that is used for capillary blood sampling; it looks like a scalpel attached to a double-edged needle or blade. Lancets are a single user device and can be used for punchers, as for example finger sticks in order to obtain small blood specimens. A safety blood lancet is basically disposable.
The safety lancet market is a vital and dynamic component of the healthcare industry. The rise in developments in the devices of the healthcare industry such as treatment and prevention of several diseases and diagnosis is the major factor contributing to the growth of the global safety lancet market. All the components of the health care industry play an important role in the global safety lancet market size. The increasing chronic diseases such as dyslipidemia, diabetes, and hyperlipidemia, and the increasing incidents of homecare diagnosis are some other major factors contributing to the growth of the global safety lancet market. Moreover, the high demand for the use of disposable blood lancet for pain-free diagnosis of hemoglobin, fat level, blood sugar level, and other important blood components are lily to propel the growth of the global safety lancet market. The disposable lancet decreases the risk of the transmission of infection and blood transfusion which is again contributing to the growth of the global blood lancet market.
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Various factors are propelling the safety lancet market growth. These factors, as stated by the MRFR report, include growing geriatric population, rise in awareness regarding advanced technology, increase in the prevalence of chronic diseases such as dyslipidemia, hyperlipidemia, and diabetes, and increase in reimbursement policies. Additional factors boosting market growth include increasing inclination towards healthcare, improving medical device regulation, growing government support, increasing research and development activities in surgical equipment, and rising healthcare spending.
On the contrary, lack of patient awareness and high cost of the product are factors that may impede the safety lancet market growth over the forecast period.
Market Segmentation
The Market Research Future report provides a wide segmental analysis of the safety lancet market based on the type and end user.
By type, the safety lancet market is segmented into side button safety lancet, pressure activated
safety lancet, and push-button safety lancet. Of these, the push-button safety lancet segment will dominate the market over the forecast period.
By end user, the safety lancet market is segmented into home diagnostics, diagnostic centers and pathology laboratories, hospitals and clinics, and others. Among these, the hospitals and clinics segment will lead the market over the forecast period.
Regional Analysis
Based on the region, the safety lancet market report covers the latest trends and growth opportunities across the Asia Pacific (APAC), Europe, North America, and the Middle East and Africa (MEA). Of these, Europe will spearhead the market over the forecast period. This is owing to the growing need and demand for safe blood glucose tests in hospitals and clinics and diagnostic centers coupled with an increase in insulin users. It is predicted to touch USD 1,032.7 million. Germany, France, and the UK are the key contributors in this region.
The safety lancet market in North America is predicted to have a faster growth over the forecast period owing to the testing of newborn babies for diseases being mandatory under the budget-friendly healthcare act. The US is the key contributor in this region.
The safety lancet market in the Middle East and Africa is predicted to have a steady growth over the forecast period owing to low healthcare expenditure and poor economic conditions in Africa.
Key Players
Leading players profiled in the safety lancet market report include Sarstedt AG & Co., Dickinson and Company, F. Hoffmann-La Roche AG, Improve Medical Technology Co. Ltd, Becton, HTL-STREFA S.A., Bayer AG, and Terumo Medical Corporation, among others. Key players have acquired some strategies such as acquisition, mergers, product development, and innovation to create a niche in the market.
December 2018- In response to the burgeoning demand for a convenient and safe means to dispose of used or unwanted lancets and medical needles, Sanford Health has installed sharps disposable drop-box kiosk.
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