The study covers a detailed analysis segmented by key business segments i.e. by type (Safety Lancets and Standard Lancets) , by application (Glucose Testing, Haemoglobin Testing, Cholesterol Testing, Coagulation Testing and Others) and major geographies. Research Analyst at AMA predicts that European Players will contribute to the maximum growth of Global Lancing Devices market throughout the predicted period.
What is Lancing Devices?
The lancing device is designed to extract hygienic capillary blood for testing purposes from the side of a fingertip as well as other locations such as the palm, upper arm, and forearm, a process known as non-fingertip testing or alternative site testing. It is also most commonly used by diabetics during blood glucose monitoring. For diabetic patients, lancing is a vital aspect of their diabetes treatment. Lancets are tiny, sharp-edged instruments used to poke the skin. Using blood glucose test strips and a blood glucose monitor, the user will draw a small amount of blood from the skin and test the blood glucose level. Lancing devices are made to keep a lancet in place. These devices can be controlled by simply pressing a button. Different settings of the lancing system can be needed depending on the patient's skin type.
The competition is expected to become even more intense in the years to come due to entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Lancing Devices market analysis report suggests strategies Players can follow and recommends key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Players, including:
- Becton Dickinson and Company (United States)
- Ypsomed Holding (Switzerland)
- Abbott Laboratories (United States)
- Roche Diagnostics (Switzerland)
- Bayer AG (Germany)
- F. Hoffmann-La Roche AG (Switzerland)
- Medtronic (United States)
- B. Braun Melsungen (Germany)
- Terumo Corporation (Japan)
- ARKRAY (Japan)
In the USA, Section 510(k) of the Food, Drug and Cosmetic Act requires manufacturers of lancing devices to register their device with the FDA and notify their intent to market the device at least 90 days before the actual marketing of the device. This period of 90 days allows FDA to classify the device among three prescribed classes (Class I, II or III). The FDA also laid down regulations regarding the application of section 510(K) in case of advancements, or changes made to the lancing device.
High Prevalence of Infectious Diseases and Custom Vacuum Technology
Increased Investments in R&D and Increasing Government Initiatives to Increase Awareness Among People
Key highlights of the Global Lancing Devices market Study:
CAGR of the market during the forecast period 2020-2026
Detailed information on factors that will accelerate the growth of the Lancing Devices market for the next five years.
Forecast of the Global Lancing Devices market size and its contribution to the parent market by type, application and by country.
Insights on upcoming trends and changes in consumer behaviour
Uncovering markets competitive landscape and in-depth information on various Players
Comprehensive information about factors that will challenge the growth of Lancing Devices Players
Customization in the Report Available:
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
** Confirmation on availability of data would be informed prior purchase
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Lancing Devices market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Lancing Devices market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment> by targeting key target audience that includes Manufacturers of Lancing Devices, Suppliers of Lancing Devices, Wholesalers, Distributors and Retailers of Lancing Devices, Healthcare Companies, Medical Research Institutes and Governmental bodies.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases etc.