Blood Lancets Market Size, Share, Growth Report, Forecast 2030

According to the report published by Zion Market Research, the global Blood Lancets Market size was valued at USD 1234.76 Million in 2022 and is predicted to reach USD 2516.84 Million by the end of 2030. The market is expected to grow with a CAGR of 10.71% during the forecast period. The report analyzes the global Blood Lancets Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Blood Lancets Market Industry.

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Global Blood Lancets Market: Overview

Blood lancets are medical instruments that are like a scalpel and possess a double-edged blade. The blade punctures the skin to extract blood samples for the diagnosis of several diseases like dyslipidemia and hyperlipidemia. Blood lancets are widely utilized by diabetic patients to examine the blood glucose level at regular intervals. A blood lancet is used in capillary blood sampling and thus is a disposable medical product. Blood lancets also find a wide range of applications in clinics and home healthcare to find out the blood group of the individuals.

Global Blood Lancets Market: Growth Factors

The growing prevalence of infectious diseases and diabetes all across the globe is one of the major factors driving the growth of the global blood lancets market vigorously. However, the easy reimbursement options by the government in several developed regions are significantly expanding the customer base all across the globe. Also, the patients are adopting high-end health insurance plans to cover their health expenditures. Such plans provide full coverage for diabetes testing supplies, glucose meters, and testing strips. Diabetes has emerged as a global scourge.

The blood sugar lancets do the capillary blood sampling to determine the stage of diabetes easily. Minuscule punctures are made on the index finger of the patients to take the blood samples with the help of disposable blood lancets. Before these disposable blood lancets, syringes were injected into the body of the patients to withdraw large amounts of blood as compared to these advanced disposable blood lancets. The disposable lancets also prevent the infection transmissions and the risk of blood transfusion, thereby making it a more approachable way for testing.

However, such emerging scenarios will bolster the growth of the global blood lancets market during the forecast period. Moreover, the growing preferences for minimally invasive procedures for monitoring and examining various diseases are also likely to accelerate the growth of the global blood lancets market.

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Global Blood Lancets Market: Segmentation

The global blood lancets market can be segmented into end-user, type, and region.

By end-user, the market can be segmented into home care, blood bank, hospital & clinics, and others. The home care segment accounts for the largest share in the global blood lancets market due to the growing preference of people for homecare diagnosis for some chronic diseases like diabetes.

By type, the market can be segmented into the vacuum, safety, and standard blood lancets. The safety blood lancets segment holds the largest share in the global blood lancets market. The growth can be attributed to its low exposure to infection, affordability, and easy availability. Also, safety lancets are widely utilized for in-home diabetic monitoring. Safety lancets are widely preferred due to their easy portability owing to their unexposed needles.

However, the specialty lancet segment is expected to witness significant growth during the forecast period due to its high patient compliance, especially among the geriatric population. The safety lancets can further be bifurcated into passive and manual lancets.

Blood Lancets Market: Report Scope

Global Blood Lancets Market: Regional analysis

North America accounts for the largest share in the global blood lancets market due to the ease of availability of blood lancets and also its convenient usage. Moreover, the rising incidences of several chronic diseases like diabetes will further boost the growth of the regional market during the forecast period.

Asia Pacific is expected to witness steady growth with a high CAGR during the forecast period due to the low manufacturing and labor cost in the region. Moreover, the growing awareness among people regarding the safe blood sugar test at home with these disposable lancets is likely to further propel the growth of the regional market in the forthcoming years.

Global Blood Lancets Market: Competitive Players

Some of the significant players in the global blood lancets market are:

• Sterilance Medical
• Sarstedt, Arkray
• HTL-Strefa S.A
• Owen Mumford
• Terumo Corporation
• B. Braun Melsungen
• Ypsomed, Roche Diagnostics
• Becton
• Dickinson
• Company

Blood Lancets Market: Segmentation

By End-User:

• Home care
• Blood bank
• Hospital & Clinics
• Others

By Type: 

• Vacuum
• Safety
• Standard Blood Lancets

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.