The Business Research Company’s global market reports provide comprehensive analysis on the various markets in 27 industries across 60 geographies.

The lancing devices and equipment market has witnessed rapid growth, surging from $0.59 billion in 2023 to $0.7 billion in 2024 at a remarkable compound annual growth rate (CAGR) of 18.4%. Projections indicate continued momentum, reaching $1.46 billion in 2028 with a CAGR of 20.2%. This blog explores the key drivers behind this growth, major trends, and notable innovations in the field.

Rising Diabetes Prevalence Fuels Demand
Diabetes Epidemic

• The increasing prevalence of diabetes fuels the demand for lancing devices.
• Diabetics rely on these devices for convenient blood glucose level testing.

Alarming Statistics

• In 2021, around 537 million adults had diabetes globally.
• Projections estimate the number to reach 783 million by 2045, intensifying the demand for lancing devices.

Market Players

• Major companies in the market include Abbott Laboratories, B. Braun Melsungen AG, Terumo Corporation, F. Hoffmann-La Roche AG, and others.
• Diverse product offerings cater to the growing diabetic population.

Innovative Blood Sugar Monitoring
Accu-Chek Pico by F. Hoffmann-La Roche AG

• Companies focus on user-centered design for better patient experiences.
• Roche AG introduces Accu-Chek Pico, a fully disposable lancing device.
  • Offers convenience and comfort for blood sugar monitoring.
  • Designed for ease of use, gentleness on the skin, and consistent lancing depths.
  • Compatible with a variety of Accu-Chek blood glucose meters.

Industry Expansion and Acquisition

1. Braun Melsungen AG Expands Portfolio

• In September 2021, B. Braun Melsungen AG acquires Sterinova Inc.
• Sterinova, a Canada-based company, specializes in sterile injectable products.
• The acquisition enhances B. Braun Melsungen AG’s portfolio and positions Sterinova as a distinct subsidiary.

Market Segmentation

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

North America Leads the Way

• In 2023, North America emerged as the largest region in the global lancing devices and equipment market.
• The region’s healthcare infrastructure and technological advancements contribute to market leadership.

View More On The Lancing Devices And Equipment Market Report 2023 – https://www.thebusinessresearchcompany.com/report/lancing-devices-and-equipment-global-market-report

Future Trends in the Lancing Devices Market
Continuous Glucose Monitoring (CGM) Integration

• Integration with CGM systems enhances real-time monitoring for diabetes management.
• Seamless data collection and analysis contribute to improved patient outcomes.

Non-Invasive Glucose Monitoring

• Advances in non-invasive monitoring technologies reduce patient discomfort.
• Innovations focus on minimizing the need for traditional blood sampling.

User-Centered Design

• Emphasis on designing devices that prioritize user comfort and simplicity.
• User-friendly features enhance patient adherence to regular blood glucose testing.

Sustainability and Eco-Friendly Materials

• Growing awareness of environmental impact leads to the development of eco-friendly materials.
• Companies strive to align with sustainable practices in device manufacturing.

Conclusion
In conclusion, the lancing devices and equipment market is witnessing an impressive trajectory, driven by the escalating diabetes epidemic, technological advancements, and innovative product offerings. The integration of user-centered design, continuous glucose monitoring, and sustainability initiatives reflects a dynamic and patient-centric approach within the industry. As major players continue to invest in research and development, the future of diabetes care holds promise, with advancements that aim to simplify monitoring, enhance patient experience, and contribute to better overall health outcomes.

Request A Sample Of The Global Lancing Devices And Equipment Market Report 2023:
https://www.thebusinessresearchcompany.com/sample_request?id=2484&type=smp