Acknowledging the kind of traction gained by this market, recently published a study report asserts the global Safety lancet Market size is projected to accrue voluminously by 2027 registering a phenomenal CAGR of around 12.4% during the review period (2022 to 2027).
Some other major drivers expected to fuel this market's growth are the growing prevalence of diabetes, high growth of insulin users and rising incidence rate of contagious and non-contagious diseases. Also the safety lancets are being used for heel-stick screening tests, diabetes, glucose test, tests in infants, and scarred emergency patients or brutally burned patients which is also fueling the market growth in the above-mentioned forecast period.
The high growth prospects in emerging countries as well as the increasing demand and need for safe blood glucose tests in hospitals, clinics and diagnostics centers will further accelerate the expansion of the safety lancet market and are also are offering significant growth opportunities for the market in the forecast period of 2021 to 2028. However, the high risk of needle stick injuries and poor reimbursement scenario in developing countries will restrict the growth of the safety lancet market. In contrast, the reuse of lancets can challenge the development of the safety lancet market.
Industry News:
NARANG MEDICAL LIMITED - ON A FAST GROWTH SPREE IN INTERNATIONAL MARKETS
Narang Medical Limited (NML) has covered a long journey in short time. Incorporated in 1989, the company has risen to No. 1 spot within 25 years and is today recognized as 'India's best source to import' when it comes to hospital furniture and orthopedic implants.
By Type, it is segmented into
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.
All these factors greatly affect the Safety lancet Market growth. It further aims at providing complete overview on detailed assessment of significant features of different industries including sales volume, market revenue, and demand size, sales growth, pricing analysis and changing market growth factors in regions such as Follows,
The Safety lancet Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type and segment. It focuses extensively on revealing a detailed regional analysis. The Global Safety lancet Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.
Report Attributes
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Report Details |
Forecast Period 2022 to 2028 CAGR |
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By Type |
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By Applications |
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By Companies
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| Acuron Products, Sterimed Group, Improve Medical Technology Co. Ltd., Ribbel International Ltd., HTL-STREFA S.A., Narang Medical Limited, Panjiva, Roche, HICKS THERMOMETERS (INDIA) LTD, Bayer AG, Terumo, Amkay Products, Becton Dickinson, Global Surgimed Industries |
Regions Covered
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Countries Covered |
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Base Year
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2022 |
Historical Year
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2017 to 2021 |
Forecast Year
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2022 to 2027 |
Number of Pages |
| 117 |
Customization Available
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| Yes, the report can be customized as per your needs |
All our reports are custom made to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report as your needs.
What is the study period of this market?
The Safety lancet Market is studied from 2017 - 2027.
What is the growth rate of Safety lancet Market?
The Safety lancet Market is growing at a CAGR of 12.4% over the next 5 years.
Who are the key players in Safety lancet Market?
Acuron Products, Sterimed Group, Improve Medical Technology Co. Ltd., Ribbel International Ltd., HTL-STREFA S.A., Narang Medical Limited, Panjiva, Roche, HICKS THERMOMETERS (INDIA) LTD, Bayer AG, Terumo, Amkay Products, Becton Dickinson, Global Surgimed Industries
What region does this Safety lancet Market report covers?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
What are the significant types of Safety lancet Market?
What are the major Applications of Safety lancet Market?
Hospitals and Clinics, Diagnostic Centers, Pathology Laboratories, Home Diagnostics, Other
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
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