Global Blood Lancets Market Size, Share, Forecast Report, 2020-2027

The global blood lancets market size was valued at $901.30 million in 2018 and is expected to reach $1,849.30 million by 2026, registering a CAGR of 9.4% from 2019 to 2026.

Blood lancet is defined as a medical instrument which is similar to a scalpel and has a double-edged blade. The blade is used to puncture the skin to obtain blood samples, which are further used for diagnosis of several diseases such as diabetes hyperlipidemia and dyslipidemia. These lancets are widely used by diabetic patients to monitor their blood glucose level. Blood lancet is a disposable medical device that is used in capillary blood sampling. In addition, blood lancets finds their applications in home healthcare as well as in clinics or pathology labs to confirm individual’s blood group.
Significant increase in prevalence of chronic diseases such as diabetes, hyperlipidemia, and dyslipidemia, and rise in inclination toward home care diagnostics are the major factors driving the blood lancets market growth. In addition, surge in use of disposable blood lancets for painless diagnosis of blood sugar level, hemoglobin, fat level, and other essential blood components propels the market growth. Disposable lancet prevents the risk of blood transfusion and infection transmission, which is thereby contributing to the blood lancets market growth. However, low awareness regarding homecare lancet in developing countries is anticipated to hamper the market growth. On the contrary, promising regulatory scenario positively impacts the blood lancets market growth, thereby, creating lucrative opportunities in the near future.

Global Blood Lancets Market Segmentation

The blood lancets market is segmented on the basis of type, end-user, and region. By type, it is segmented into standard, safety blood lancets and vacuum blood lancets. Based on end user, it is classified into hospitals & clinics, blood banks, homecare and others. Region wise, it is analyzed across North America (the U.S., Canada and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, and rest of LAMEA).

Type segment review

On the basis of type, it is segmented into standard, safety blood lancets and vacuum blood lancets and the safety blood lancets segment accounted for 41% of the share in 2018. Furthermore, it is also expected to exhibit a prominent growth rate in the near future, owing to its increased usage by the patients suffering with diabetes to monitor self-monitor their blood sugar level. Furthermore, blood banks make usage of sterile blood lancets to perform blood testing protocols prior collecting the blood from an individual. Thus, the factors aforementioned contribute to the growth of the blood lancets market.
End User segment review

Based on end user, the homecare segment dominated the blood lancets market in 2018, and is anticipated to maintain its dominance during the forecast period. This is attributed to significant increase in preference among patients toward homecare diagnosis of various chronic disease such as diabetes. Furthermore, the simple design and ease of use associated with blood lancets makes them an ideal device for self-diagnostics and diabetes monitoring. Thus, the factors aforementioned contribute to the growth of the market.

North America accounted for a major market share in 2018 and is anticipated to continue this trend during the forecast period. This is attributed to vigorous use and ease of availability of blood lancets in this region. In addition, the incidence of diabetes is increasing at a considerable rate in the U.S. For instance, according to the Center for Disease Control and Prevention, more than 100 million U.S. adults are now living with diabetes or prediabetes. Diabetes was the seventh leading cause of death in the U.S. in 2015. However, Asia-Pacific is anticipated to experience rapid growth during the forecast period, owing to rise in incidence of diabetes, high cholesterol, and other chronic disease. Moreover, an increase in demand for advanced healthcare services in the emerging economies such as India and China, is the major factor driving the growth of the Asia-Pacific blood lancets market. Thus, the factors aforementioned contribute to global blood lancets market growth in the region.

Comprehensive competitive analysis and profiles of major market players such as Becton, Dickinson & Company, Improve Medical, Terumo Corporation, Sarstedt AG & Co., F.L. Medical SRL, Medtronic plc, Haemonetics Corporation, Shangdong Lianfa Medical, Nipro Medical Corporation and Abbott Laboratories have been provided in this report.

Key Benefits for Stakeholders:

• The blood lancets market share and analysis is based on a comprehensive analysis of the key developments in the blood lancets industry.
• The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the global blood lancets market.
• The study provides an in-depth analysis of the blood lancets market trends to elucidate the imminent investment pockets.
• The global blood lancets market trends are studied from 2018 to 2026.
• Information about key drivers, restrains, and opportunities and their impact analysis on the blood lancets market size is provided.
• Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
• The quantitative analysis of the global blood lancet market from 2019 to 2026 is provided to determine the market potential.

Key Market Segments:

By Type

• Standard
• Safety Blood Lancets
• Vacuum Blood Lancets

By End-User

• Hospitals &Clinics
• Blood Banks
• Homecare
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Rest of Asia-Pacific
• LAMEA
  • Brazil
  • Saudi Arabia
  • South Africa
  • Rest of LAMEA