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).
By Type
Standard Lancets is projected as one of the most lucrative segment.
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.
By End User
Homecare holds a dominant position in 2018 and would continue to maintain the lead over the forecast period.
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.
By Geography
Asia-Pacific region would exhibit the highest CAGR of 10.5% during 2019-2026.
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.
Blood Lancets Market Report Highlights
| Aspects | Details |
 By Type |
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 By End User |
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 By Region |
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 Key Market Players | Owen Mumford, Medtronic Plc., Becton Dickinson And Company, Improve Medical (Guangzhou Improve Medical Instruments Co., Ltd), F L Medical S.R.L, Nipro Medical Corporation, Sarstedt AG & CO., Abbott Laboratories., SteriLance Medical, Terumo corporation. |
Analyst Review
Blood lancets are disposable medical devices and are frequently being used in hospitals, clinics, and diagnostic laboratories for obtaining blood and performing various tests. Blood collected through the lancet can be used for disease diagnosis including, cholesterol monitoring, diabetes, and various others. Blood lancets find their applications in home healthcare as well as in clinics or pathology labs to confirm individuals blood group.
Moreover, the blood lancets market is anticipated to witness steady growth in future, owing to rise in incidence of diabetes across the globe and upsurge in usage of homecare medical devices. However, low awareness among individuals in developing economies regarding the usage of blood lancets is expected to hamper the market growth in near future. On the contrary, technological advancements pertaining to the development of homecare devices is anticipated to create lucrative opportunities in the near future.
The total market value of blood lancets market is $901 million in 2018.
The forcast period for blood lancets market is 2019 to 2026
The market value of blood lancets market in 2019 is $1,849 million
The base year is 2018 in blood lancets market
Top companies such as, Becton Dickinson And Company, Medtronic Plc, Abbott laboratories, Nipro Medical Corporation held a high market position in 2018. These key players held a high market postion owing to the strong geographical foothold in different regions.
Safety blood lancets segment is the most influencing segment growing in the blood lancets market owing to benefits associated with their use. For instance, these lancets are retractable needles which avert accidental pricks and eliminate risk of contamination.
The key trend in the blood lancets market is the rise in incidence of chronic diseases such as diabetes, high cholesterol, and others. This leads to surge in the demand for blood lancets which boots the growth of the market.
Asia-Pacific has the highest growth rate in the market which is growing due to the contribution of the following emerging countries such as India with a CAGR of 10.5%. This is due to surge in prevelance of chronic disorders such as diabetes in the region.
Blood lancet is a disposable medical device mainly used to make minuscule punctures in the skin to obtain blood samples. There are different types of blood lancets present in the market such as safety blood lancets, vacuum blood lancets and others.
Blood lancets are used 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.
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