What is Personal Lancets Market?
Lancets are used for diabetes/glucose testing, baby testing, heel pin screening, and scarred emergency or severely burned patients. Personal lancets should be used by laypeople with a lancing device to collect capillary blood. Pricking your fingers is an integral part of blood sugar self-monitoring and part of everyday life for millions of people with diabetes. A small finger prick followed by a drop of blood on the test strip allows people to see blood sugar levels within seconds. This helps patients identify symptoms of hypo- / hyperglycemia and prevent long-term complications from diabetes. Factors driving market growth include the incidence of infectious and non-contagious diseases, the prevalence of diabetes, and the tendency towards home treatment and diagnosis. However, the risk associated with blood transfusions is likely to hamper market development during the forecast period.
The market study is being classified by Type (21G, 26G, 28G, 30G, 33G and Others), by Application (Glucose Testing, Hemoglobin Testing, Coagulation Testing and Other Applications) and major geographies with country level break-up.
Becton, Dickinson, and Company (United States), Roche Diagnostics (Switzerland), Ypsomed (Switzerland), B. Braun Melsungen (Germany), Terumo Corporation (Japan), Own Mumford (United Kingdom), HTL-STREFA S.A (Poland) and ARKRAY (Japan) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Sarstedt (Germany) and SteriLance Medical (Suzhou) (China).
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that European Players will contribute to the maximum growth of Global Personal Lancets market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Personal Lancets market by Type, Application and Region.
On the basis of geography, the market of Personal Lancets has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Monitoring of diabetes in the diabetic community is one of the main uses or working fields of lancets. According to the Centers for Disease Control and Prevention ( CDC), diabetic patients account for 9.4 percent of the US population. The need for lancets is projected to be tremendous with the growing prevalence of diabetes, resulting in a rising need for diabetes detection and management equipment and products, potentially leading to expanded use of lancets.
- The Rising Adoption of Push-Button Safety Lancets due to the Efficient Retraction of the Sample with the Push of a Single Button will Foster their Demand
- Risk of Needlestick Injuries
- Poor Reimbursement Scenario in Developing Countries
- High Growth Prospects in Emerging Countries
- High Prevalence of Anemia Expected to Increase Hemoglobin Testing Volume and the Demand for Lancets
Market Leaders and some development strategies
In 2018, HTL-STREFA was acquired by Investindustrial. This acquisition helped the companies partner for diabetes management, thus serving an extensive customer base.
In 2018, HTL-STREFA expanded its storage capacity in Leczyca by almost 50%, with an equivalent of 3,550 m2 additional storage space.
Key Target AudienceProviders of Personal Lancets, End-Users, Potential Investors, Market Research Firms and Others
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