What Has Been the Growth of the Safety Lancet Market So Far?
The safety lancet market has seen considerable growth due to a variety of factors.
• In recent years, there has been considerable growth in the size of the safety lancet market. It is projected to expand from $1.96 billion in 2024 to $2.14 billion in 2025, with a compound annual growth rate (CAGR) of 9.4%.
This significant growth over the historical period is due to improvements in medical device regulations, increased investment in diabetes care from both public and private entities, a concerted emphasis on infection control, a rising preference for home healthcare, and a growing demand for simple, single-use lancets.
How Will the Safety Lancet Market?
The safety lancet market is expected to maintain its strong growth trajectory in upcoming years.
• In the forthcoming years, a significant expansion is projected for the safety lancet market, reaching an estimated size of $3.03 billion in 2029 with a 9.1% compound annual growth rate (CAGR).
This predicted growth during the forecast period can be attributed to the escalating cases of diabetes, a rising inclination towards home healthcare, an increased count of healthcare facilities, the surge in the elderly population, and a spike in chronic disease prevalence. Key trends for the forecasted period are the advancement in technology, patient empowerment in managing their own health, focus on controlling infections, regulatory emphasis on ensuring patient safety, and the expansion of the home healthcare market.
Which Factors Are Boosting Growth In The Safety Lancet Market?
The growth of the safety lancet market is set to be driven by the increasing occurrence of diabetes. Diabetes is a long-term health condition that arises when the body fails to keep blood sugar (glucose) levels in check. Obesity, lack of exercise, poor eating habits, aging, and genetic factors contribute towards the increasing diabetes rates. Safety lancets, which help obtain blood samples securely and easily for glucose tests, are essential for managing diabetes, reducing the chances of infection and injuries from needle sticks. For example, in April 2023, the British Diabetic Association, a healthcare professional and research charity based in the UK, disclosed that approximately 4.3 million people in the UK were diagnosed with diabetes in 2022, a rise of 148,951 compared to the previous year. This increasing occurrence of diabetes is fuelling the safety lancet market.
What Key Areas Define The Segmentation Of The Global Safety Lancet Market?
The safety lancet market covered in this report is segmented –
1) By Product Type: Push Button Safety Lancet, Pressure Activated Safety Lancet, Side Button Safety Lancet
2) By Application: Blood Glucose Testing, Hemoglobin Testing, Cholesterol Testing, Coagulation Testing
3) By End-User: Hospitals and Clinics, Diagnostic Centers and Pathology Laboratories, Home Diagnostics, Other End-Users
Subsegments:
1) By Push Button Safety Lancet: Manual Push Button Safety Lancets, Automatic Push Button Safety Lancets, Adjustable Depth Push Button Safety Lancets
2) By Pressure Activated Safety Lancet: Single-Use Pressure Activated Lancets, Multi-Use Pressure Activated Lancets, Adjustable Pressure Activated Lancets
3) By Side Button Safety Lancet: Standard Side Button Safety Lancets, Ergonomic Side Button Safety Lancets, Adjustable Depth Side Button Safety Lancets
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What New Trends Are Influencing The Safety Lancet Market?
Prominent businesses in the safety lancet market are introducing innovative tools like heel lancets to improve safety and precision in heel puncture procedures used on infants. These sterile, single-use lancets lower the threat of infection. Heel lancets are compact, sharp instruments utilized to pierce the heel for blood sampling, generally used in newborn screening and diabetes monitoring. For example, Owen Mumford, a medical solutions firm based in the UK, in October 2023 launched Unistik Heelstik devices for neonatal and pediatric capillary blood sampling. These units are equipped with state-of-the-art safety features ensuring accurate punctures, minimized discomfort for infants and a reduced risk of needlestick injuries to healthcare professionals.
Who Are the Key Players In The Safety Lancet Market?
Major companies operating in the safety lancet market are:
• McKesson Corporation
• Cardinal Health Inc.
• F. Hoffmann-La Roche AG
• Bayer AG
• Abbott Laboratories
• Medline Industries Inc.
• Becton Dickinson and Company
• B. Braun SE
• Terumo Medical Corporation
• Nipro Corporation
• Sarstedt AG & Co. KG.
• Greiner Bio-One International GmbH
• Ypsomed Holding AG
• Improve Medical Technology Co. Ltd
• Omron Healthcare Inc.
• Owen Mumford Ltd.
• Arkray Inc.
• AgaMatrix Inc.
• Narang Medical Limited.
• DarioHealth Corp
• HTL-STREFA S.A.
• Ribbel International Limited
• Simple Diagnostics Inc.
• Sara Healthcare Private Limited
• Smiths Medical
• HICKS THERMOMETERS (INDIA) LTD.
• Sterimed Group
What Is The Most Dominant Region In The Safety Lancet Market?
North America was the largest region in the safety lancet market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the safety lancet market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
