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Lancing Devices And Equipment market Size, Share And Growth Analysis For 2024-2033
Lancing Devices And Equipment Market Size, Trends, And Forecast 2024-2033
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LONDON , GREATER LONDON , UK , September 2, 2024 /EINPresswire / -- The lancing devices and equipment market has experienced robust growth in recent years, expanding from $0.59 billion in 2023 to $0.7 billion in 2024 at a compound annual growth rate (CAGR) of 18.4%. The growth in the historic period can be attributed to diabetes prevalence, patient convenience, home-based monitoring, healthcare digitization.
Strong Future Growth Anticipated
The lancing devices and equipment market is projected to continue its strong growth, reaching $1.46 billion in 2028 at a compound annual growth rate (CAGR) of 20.2%. The growth in the forecast period can be attributed to diabetes epidemic continues, advances in testing accuracy, telehealth and remote monitoring, personalized medicine.
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Growth Driver Of The Lancing Devices And Equipment Market
The increasing geriatric population is expected to propel the growth of the lancing devices and equipment market going forward. The geriatric population refers to a demographic group consisting of elderly or older individuals. It typically includes people who are 65 and older. Lancing devices and equipment are useful for elderly people with diabetes who need to monitor their blood sugar levels regularly. It is easy to use, reduce pain, have customizable depth settings, and come with safety features.
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Major Players And Market Trends
Key players in the lancing devices and equipment market include Abbott laboratories, B. Braun Melsungen AG, Terumo Corporation, F. Hoffmann-La Roche AG, LifeScan Inc., Ascensia Diabetes Care Holdings AG.
Major companies operating in the lancing devices and equipment market are developing innovative products such as disposable lancing device to provide a more convenient and comfortable blood sugar monitoring experience. A disposable lancing device is a tiny, portable device that pricks the skin and collects a small blood sample for glucose testing.
Segments:
1) By Type: Reusable, Disposable
2) By Product: Safety Lancets, Standard Lancets
3) By Penetration Depth: 0.8mm-1mm, 1.1mm- 1.5mm, 1.6mm-2.0mm, Other Penetration Depths
4) By End User: Hospitals and Clinics, Homecare and Home Diagnostics, Diagnostic Centres and Medical Institutions, Research and Academic Laboratories, Other End User
Geographical Insights: North America Leading The Market
North America was the largest region in the global lancing devices and equipment market in 2023. Western Europe was the second-largest region in the lancing devices and equipment market. The regions covered in the lancing devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Lancing Devices And Equipment Market Definition
Lancing devices and equipment are used to prick the skin to obtain blood samples for testing glucose levels.
The main products of lancing devices and equipment are safety lancets and standard lancets. Safety lancets are sterile, single-use devices intended for capillary blood sampling. The lancing devices and equipment types are reusable and disposable that are available at various penetration depths such as 0.8mm-1mm, 1.1mm- 1.5mm, 1.6mm-2.0mm, and others. The end-users are hospitals and clinics, homecare and home diagnostics, diagnostic centres and medical institutions, research and academic laboratories, and others.
Lancing Devices And Equipment Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Lancing Devices And Equipment Global Market Report 2024by The Business Research Company is the most comprehensive report that provides insights on lancing devices and equipment market size, lancing devices and equipment market driversand trends, lancing devices and equipment market major players, lancing devices and equipment competitors' revenues, lancing devices and equipment market positioning, and lancing devices and equipment market growth across geographies. The lancing devices and equipment market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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