Lancet Market Projected To Reach USD 3.72 Billion By 2032, Growing At A 10.63% CAGR – SNS Insider

(MENAFN- GlobeNewsWire - Nasdaq) According to Research by SNS Insider, The Lancet market Growth is Driven by Growing Demand for Home Diagnostics and Safety Lancets.

Pune, March 14, 2025 (GLOBE NEWSWIRE) -- According to SNS Insider, the Lancet Market size was valued at USD 1.5 billion in 2023 and is projected to grow at a CAGR of 10.63% over the forecast period (2024–2032), reaching USD 3.72 billion by 2032. This growth is fueled by the rising prevalence of chronic diseases, increasing adoption of home-based diagnostics, and technological advancements in lancet devices.

Market Overview

Lancets are basic medical equipment applied for capillary blood sampling, mainly for diabetes care and other diagnostic purposes. The rising prevalence of diabetes and other chronic diseases that necessitate frequent blood analysis has significantly promoted market demand. Safety lancets, which reduce the risk of needlestick exposure and cross-contamination, are increasingly being embraced in healthcare environments and by self-monitoring patients.

The increasing trend towards home diagnostics is also a key driver for market growth. With technological progress, new lancet devices are now made with enhanced patient comfort, simplicity of use, and precision. The presence of adjustable depth settings, ultra-thin needles, and push-button activation options has made the overall user experience better, resulting in greater market penetration. Growing healthcare awareness and government policies encouraging frequent monitoring of health are also likely to drive the market further.

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Key Lancet Companies Profiled

• HTL-STREFA S.A. – Droplet Microneedles, Droplet Safety Lancets, Droplet Personal Lancets
• Terumo Corporation – Finetouch Lancets, Capiject Safety Lancets
• Becton Dickinson and Company – BD Microtainer Contact-Activated Lancets, BD Safety Lancets
• Hoffmann-La Roche Ltd. – Accu-Chek Softclix
• Improve Medical Instruments Co. Ltd. – IMI Safety Lancets, IMI Personal Lancets
• Bayer AG – MICROLET Lancets
• Sarstedt AG & Co. – Sarstedt Safety Lancets, Sarstedt Blood Lancets
• Abbott Laboratories – FreeStyle Lancets
• Greiner Bio-One International GmbH – Greiner Safety Lancets, Greiner Mini Collect Lancets
• Medtronic plc – MiniMed Lancets
• Nipro Medical Corporation – TRUEplus Lancets, TRUEdraw Lancing Device
• Owen Mumford Ltd. – Unistik 3 Safety Lancets, Unistik Touch Lancets
• Ypsomed AG – MyLife Lancets
• Arkray Inc. – Glucocard Lancets
• Edan Instruments Inc. – Edan Safety Lancets

Lancet Market Report Scope

Report Attributes	Details
Market Size in 2023	US$ 1.5 billion
Market Size by 2032	US$ 3.72 billion
CAGR	CAGR of 10.63% From 2024 to 2032
Base Year	2023
Forecast Period	2024-2032
Historical Data	2020-2022
Key Regional Coverage	North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America)

Segment Analysis

By Type

Safety lancets held the major share in 2023 and covered over 55.6% of the total lancet market. Needlestick injuries reduced through their usage has made them widely accepted across hospitals, clinics, and diagnosis centers. Hospitals, clinics, and diagnostic laboratories prefer these lancets because of their single use, which does not compromise on patient safety but rather keeps contamination at bay.

The push-button safety lancet market is expected to be the fastest growing. They have a user-friendly, convenient mechanism that provides high accuracy and consistency in blood sampling. Automatic activation and regulated puncture depth ensure that they are the choice of both medical professionals and home users, driving them to grow the market quickly.

By End User

The clinics and hospitals segment dominated the market in 2023 with a share of more than 40.3% of the total lancet market. The large number of diagnostic tests, regular patient visits, and growing incidence of diabetes and other chronic diseases are responsible for the segment's dominance.

At the same time, the home diagnostics market is growing at the highest rate. The growing popularity of easy-to-use blood glucose testing kits, combined with a move toward self-care and preventive medicine, has driven demand for home-use lancet devices. The ease of self-monitoring, combined with the low cost of these devices, has contributed strongly to patient adoption rates for managing chronic diseases at home.

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Lancet Market Segmentation

By Type

• Safety Lancet
• Push Button Safety Lancet
• Pressure Activated Safety Lancet
• Personal Lancet

By End User

• Hospitals & Clinics
• Diagnostic Centers and Pathology Laboratories
• Home Diagnostics
• Research and Academic Laboratories

Regional Analysis

North America dominated the lancet market across the globe in 2023, with over 35% of the global market share. The region has a robust healthcare infrastructure, increased prevalence of diabetes, and a high level of healthcare spending that contributes to the dominance. Increased use of innovative blood sampling technology and growing importance of patient safety also contribute to market growth.

The Asia-Pacific region is anticipated to experience the highest growth over the coming years. Demand for lancet devices is driven by improving accessibility of healthcare, an aging population, and growing emphasis on preventive care. Growing prevalence of diabetes in nations such as China and India, as well as government support for self-monitoring, are anticipated to drive market growth in the region.

Recent Developments

• February 2024: Eli Lilly launched its type 2 diabetes medicine, Mounjaro (tirzepatide), in India, underscoring the growing demand for blood glucose monitoring solutions such as lancets.
• February 2024: Ukraine's defense industry committed to mass producing Russian Lancet copycat attack drones, exhibiting tech capabilities beyond healthcare.
• September 2023: Roche Diagnostics launched the Accu-Chek Guide Me Meter and Accu-Chek Guide Test Strips with an integrated lancing device and auto test strip coding for enhanced accuracy.

Statistical Insights and Trends

• Increasing prevalence of diabetes globally has caused a major demand for blood glucose monitoring products, such as lancets.
• An increasing proportion of patients opt for home testing, creating demand for easy-to-use lancet devices.
• The Asia-Pacific region is likely to witness the highest volume growth of lancet devices owing to its growing healthcare infrastructure and huge patient base.
• North America is the leader in healthcare spending, with high investment in chronic disease management and diagnostic equipment.
• The convergence of ultra-thin needles, safety features, and automated actuation capabilities has improved patient compliance and comfort, fueling market growth.

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Table of Contents – Major Key Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

5.1 Incidence and Prevalence of Lancet Usage (2023)

5.2 Prescription and Usage Trends (2023), by Region

5.3 Pricing Trends and Cost Analysis (2020-2032)

5.4 Regulatory and Compliance Trends (2023-2032)

5.5 Consumer Preferences and Behavioral Trends (2023-2032)

5.6 Healthcare Spending on Lancets, by Region (Government, Commercial, Private, Out-of-Pocket), 2023

6. Competitive Landscape

7. Lancet Market by Type

8. Lancet Market by End User

9. Regional Analysis

10. Company Profiles

11. Use Cases and Best Practices

12. Conclusion

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