The
Safety Lancet
Market Overview
Analysis by Type, by End User - Forecast to 2030
Market Analysis
The safety lancet market is predicted to reach USD 5,193.27 Million by the end of
the year 2030 from USD 1,056.2 Million in the year 2016 with registering a CAGR
of 12.10% during the forecast period of 2022 to 2030., as per the latest Market
Research Future (MRFR) report. Safety lancets, simply put, are retractable
needles which reduce risk of infection and prevent accidental pricks. It is
receiving global acceptance and recognition owing to its various convenient
characteristics that give it an edge over the traditional vein puncture
methods. These features include safety while using, easy handling, and painless
vein puncture.
Safety
lancets are single-use, sterile devices that are intended for capillary blood
samplings. It has an extensive range of applications including coagulation
tests, allergy tests, blood group test, HIV and HBO screening test, blood group
test, cholesterol test, capillary blood micro sampling, and different other
blood-based tests. No risk of sharp injuries, no risk of cross-infection, easy
to use, pre-set, cost-effective, and no needle loading and removal are some of
the benefits of using safety lancets. Safety lancets are ideal for “on the go
testing” as it needs no loading as well as can be done with only one hand.
Using safety lancets while travelling is an ideal choice and needs fewer
supplies. It can be tried on flights, trains, cruises, or driving trips.
Various
factors are propelling the safety lancet market growth. These factors, as
stated by the MRFR report, include growing geriatric population, rise in
awareness regarding advanced technology, increase in the prevalence of chronic
diseases such as dyslipidemia, hyperlipidemia, and diabetes, and increase in
reimbursement policies. Additional factors boosting market growth include
increasing inclination towards healthcare, improving medical device regulation,
growing government support, increasing research and development activities in
surgical equipment, and rising healthcare spending.
On the
contrary, lack of patient awareness and high cost of the product are factors
that may impede the safety lancet market growth over the forecast period.
Market Segmentation
The
Market Research Future report provides a wide segmental analysis of the safety
lancet market based on the type and end user.
By type,
the safety lancet market is segmented into side button safety lancet, pressure
activated
safety
lancet, and push-button safety lancet. Of these, the push-button safety lancet
segment will dominate the market over the forecast period.
By end
user, the safety lancet market is segmented into home diagnostics, diagnostic
centers and pathology laboratories, hospitals and clinics, and others. Among
these, the hospitals and clinics segment will lead the market over the forecast
period.
Regional Analysis
Based on
the region, the safety lancet market report covers the latest trends and growth
opportunities across the Asia Pacific (APAC), Europe, North America, and the
Middle East and Africa (MEA). Of these, Europe will spearhead the market over
the forecast period. This is owing to the growing need and demand for safe
blood glucose tests in hospitals and clinics and diagnostic centers coupled
with an increase in insulin users. It is predicted to touch USD 1,032.7
million. Germany, France, and the UK are the key contributors in this region.
The safety
lancet market outlook
in North America is predicted to have a faster growth over the forecast period
owing to the testing of newborn babies for diseases being mandatory under the
budget-friendly healthcare act. The US is the key contributor in this region.
The
safety lancet market in the Middle East and Africa is predicted to have a
steady growth over the forecast period owing to low healthcare expenditure and
poor economic conditions in Africa.
Key Players
The
safety lancet market Player include Sarstedt AG & Co., Dickinson and
Company, F. Hoffmann-La Roche AG, Improve Medical Technology Co. Ltd, Becton,
HTL-STREFA S.A., Bayer AG, and Terumo Medical Corporation, among others. Key
players have acquired some strategies such as acquisition, mergers, product
development, and innovation to create a niche in the market.
December
2018- In response to the burgeoning demand for a convenient and safe means to
dispose of used or unwanted lancets and medical needles, Sanford Health has installed
sharps disposable drop-box kiosk.
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Market Research Future:
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