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Lancets Market Size Projected To $5.1 Billion By 2027 With Recent Trends, Future Growth Analysis and CAGR of 5.6%: Grand View Research, Inc.

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Lancets Market Size Projected To $5.1 Billion By 2027 With Recent Trends, Future Growth Analysis and CAGR of 5.6%: Grand View Research, Inc.

November 05
03:15 2021
Lancets Market Size Projected To $5.1 Billion By 2027 With Recent Trends, Future Growth Analysis and CAGR of 5.6%: Grand View Research, Inc.
“Grand View Research, Inc. – Market Research And Consulting.”
According to a new report published by Grand View Research, rising government expenditure and technological advancements in the field of diabetes management are expected to drive the market. The introduction of technologically advanced products and faster product approvals are expected to strengthen the market growth during the forecast period.

The global lancets market size is expected to reach USD 5.1 Billion by 2027, registering a CAGR of 5.6% over the forecast period, according to a new report by Grand View Research, Inc. The market is primarily driven by increasing incidence of infectious diseases, coupled with advancement in the field of diagnostic testing. Furthermore, increasing awareness about self-monitoring of blood glucose, coupled with improved accuracy in self diagnostic among patients, is adding to the market growth.

 

Rapidly changing lifestyle such as unhealthy food, consumption of alcohol, and lack of physical activities is increasing the incidence of lifestyle associated chronic diseases. Rising government expenditure and technological advancement in the field of diabetes management are expected to drive the market. Furthermore, increasing preference for home care settings and growing trend of using advanced lancet devices, including automatic versions, are some of the factors expected to drive the market during forecast period.

 

Availability of lancets in different sizes and specifications is expected to increase the usage of these devices by geriatric patients. Growth of the geriatric population across the globe is also opening new avenues for the market. Aged people are more prone to infectious diseases, thereby significantly contributing to the market growth. According to the WHO, the proportion of people over 60 years is expected to reach 22% by 2050 from 12% in 2015.

 

Browse full report with Table of Content @ https://www.grandviewresearch.com/industry-analysis/lancets-market

 

Further key findings from the study suggest:

 

  • North America accounted for the largest share in 2019 owing to high adoption rate, frequent new product launch, presence of key market players, and advanced healthcare service industry
  • Asia Pacific is expected to witness robust growth during the forecast period owing to rising awareness about self-monitoring of blood glucose
  • By product, the safety lancets segment dominated the market in 2019 owing to the low cost and advanced features of the products
  • By application, blood glucose testing accounted for the largest share in 2019 due to presence of a large diabetes population
  • By end use, the homecare settings segment is expected to witness the fastest growth over the forecast period due to low cost and increasing need for diagnostic testing
  • The lancets market is highly fragmented due to presence of a number of players
  • The leading players in the industry include B. Braun Melsungen, Medline Industries, Roche Diagnostics, Becton, Dickinson and Company, Ypsomed, HTL-Strefa S.A, Terumo Corporation, Owen Mumford, Arkray, AgaMatrix, Abbott, Nipro Medical Corporation, and Ypsomed.

 

For Requesting a Sample Copy of This Report, Please Visit @ https://www.grandviewresearch.com/industry-analysis/lancets-market/request/rs1

 

Grand View Research has segmented the global lancets market on the basis of product, application, end use, and region:

 

Lancets Product Outlook (Volume, Units; Revenue, USD Million, 2016 – 2027)

  • Safety
  • Standard
  • Specialty

Lancets Application Outlook (Volume, Units; Revenue, USD Million, 2016 – 2027)

  • Blood Glucose Testing
  • Hemoglobin Testing
  • Cholesterol Testing
  • Coagulation Testing
  • Other Application

Lancets End-use Outlook (Volume, Units; Revenue, USD Million, 2016 – 2027)

  • Hospitals and Clinics
  • Homecare Settings
  • Others

Lancets Regional Outlook (Volume, Units; Revenue, USD Million, 2016 – 2027)

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Italy
    • Spain
    • Czech Republic
    • Russia
    • Poland
    • Turkey
    • Switzerland
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • South Korea
    • Vietnam
    • Philippines
    • Malaysia
    • Indonesia
    • Thailand
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Colombia
    • Chile
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Oman
    • Egypt

 

Inquire more or share questions if any before the purchase on this report @ https://www.grandviewresearch.com/inquiry/450251/ibb

 

About Grand View Research

 

Grand View Research is a market research and consulting company that offers market research reports, syndicated and customized reports. The company is headquartered in San Francisco, California. It offers client engagement for business consulting and market intelligence from various domains. The clientele is based across various countries with queries coming from more than 50 industries worldwide.

Grand View Research helps its clients to make informed decisions by helping them understand current trends and scenarios. Every year Grand View Research accomplishes more than 300 multi-country market studies to optimize consulting for clients.

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1888202951
Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/lancets-market