The Global Blood Lancets Market size is expected to reach $1.5 billion by 2025, rising at a market growth of 8.5% CAGR during the forecast period. A blood lancet is described as a scalpel-like medical device which has a double-edged blade. The blade is used to pierce the skin to collect blood samples that are further used to diagnose multiple diseases such as hyperlipidemia of diabetes and dyslipidemia. Diabetic patients use these lancets regularly to track their blood glucose levels. A blood lancet is a portable medical device used for the collection of capillary blood. Furthermore, blood lancets find their uses in-home healthcare as well as in hospitals or pathology laboratories to confirm the blood group of individuals.
Global Blood Lancets Market Size
The major factors driving the growth of the blood lancets market include a significantly increased prevalence of chronic diseases like diabetes, hyperlipidemia, and dyslipidemia and increased inclination toward home care diagnostics. Additionally, the rise in the use of disposable blood lancets for painless diagnosis of blood sugar levels, hemoglobin, lipid levels, and other important blood components accelerates the growth of the industry.
Disposable lancet eliminates the risk of blood transfusion and transmission of infections and thus contributes to the growth of the blood lancets industry. Nevertheless, low awareness in developed countries about homecare lancet is expected to hamper the market growth. On the contrary, the favorable regulatory scenario is having a positive effect on the growth of the blood lancets market, thereby generating lucrative opportunities in the near future.
Blood Lancets Market Share
Recently, emerging and re-emerging infectious diseases like coronavirus disease poses a significant threat to public health in countries across the globe. Infectious diseases are the number one cause of morbidity and mortality worldwide. Diagnostics is the first step to treating infectious diseases and eradicating them. There is an urgent need to identify appropriate diagnostic strategies for better treatment of each disease due to the ever-evolving pathogens and emerging new diseases. In addition, effective diagnostic techniques are essential for disease identification and better treatment, as well as population outbreak control.
Based on Type, the market is segmented into Vacuum Blood Lancets, Safety Blood Lancets and Standard Blood Lancets. Based on End Users, the market is segmented into Homecare, Hospitals and Clinics, Blood Banks and other End Users. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
Free Valuable Insights: Global Blood Lancets Market to reach a market size of $1.5 billion by 2025
The market research report covers theanalysis of key stake holders of the market. Key companies profiled in the report include Becton, Dickinson and Company, Medtronic PLC, Abbott Laboratories, Terumo Corporation, Haemonetics Corporation, Nipro Corporation, Sarstedt AG & Company, F.L. Medical S.r.l., Socorex Isba SA, and PL Medical Co., LLC
Market Segmentation:
By Type
By End Users
By Geography
Companies Profiled
The blood lancets market is projected to reach USD 1.5 billion by 2025.
The market is expected to witness a boost due to rise in the incidence of chronic diseases such as diabetes, high cholesterol, High prevalence of infectious diseases, and a rise in the usage of safety lancets. The market growth is expected to get affected due to coronavirus is disrupting the blood supply chain.
The standard llood lancets market dominated the global blood lancets Market by type in 2018.
Some of the key industry players are Becton, Dickinson and Company, Medtronic PLC, Abbott Laboratories, Terumo Corporation, Haemonetics Corporation, Nipro Corporation, Sarstedt AG & Company, F.L. Medical S.r.l., Socorex Isba SA, and PL Medical Co., LLC.
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