Global Blood Lancets Market Expected to Reach $1,849.30 Million by 2026

According to a new report published by Allied Market Research, Titled, "Blood Lancets Market, by Type and End User: Global Opportunity Analysis and Industry Forecast,   2018–2026," the global blood lancets market size is expected to reach $1,849.30 million by 2026, registering a CAGR of 9.4% from 2019 to 2026, in terms of value. 

Blood lancet is a medical device that is used to take blood samples. It procures through the skin and helps in obtaining blood sample for different tests such as blood glucose test, cholesterol test, identifying blood group among others. These lancets are widely used by diabetic patients to monitor their blood glucose level. 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.

Surge in prevalence of diseases including diabetes, high cholesterol, and rise in use of lancets for home care diagnostics are the major factors fueling the blood lancets market growth. In addition, blood lancets offer non-invasive diagnosis of blood sugar level, hemoglobin, fat level, and other essential blood components. Disposable lancet combats infection transmission, further contributing to the blood lancets market growth. However, low awareness regarding homecare lancet in developing countries is anticipated to hamper the blood lancets market growth.

On the basis of type, the safety blood lancets segment accounted for 41% share in 2018, and is expected to exhibit a prominent growth rate in the near future, owing to its increased usage by the patients suffering with diabetes to self-monitor their blood sugar level. 

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 towards homecare diagnosis of various chronic disease such as diabetes.

Key Findings of the Study:

• By type, the standard segment accounted for the highest blood lancets market share of 55% in 2018 and is anticipated to grow at the fastest rate during the forecast period.
• By region, North America was the major shareholder and accounted for the highest share of 48% in 2018. 
• By end user, the homecare segment is expected to grow at a CAGR of 7.6% during the forecast period.
• By region, the Asia-pacific segment is anticipated to grow at the fastest growth rate during the forecast period.

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.