Key Trends and Insights into the Safety Lancet Market: Growth Rate and Opportunities to 2034
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How has the safety lancet market grown over the years?
In the past few years, there has been significant growth in the size of the safety lancet market. The market value is expected to escalate from $1.96 billion in 2024 to $2.14 billion in 2025, with a 9.4% compound annual growth rate (CAGR). Factors such as enhanced regulation of medical devices, heightened investments in diabetes care by both public and private institutions, emphasis on infection control, an increasing inclination towards home healthcare, and a rising consumer demand for simple, one-time-use lancets are likely to have contributed to the growth experienced in the historic period.
What Is the forecasted market size and growth rate for the safety lancet market?
The market for safety lancets is projected to experience robust expansion in the coming years, with a value expected to peak at $3.03 billion in 2029, reflecting a 9.1% compound annual growth rate (CAGR). This upward trajectory during the predicted period can be associated with an increased incidence of diabetes, a preference for home-based health care, the growth in the number of health care facilities, a surge in the elderly population, and a rise in chronic illnesses. Major trends during this forecast period include advancements in technology, enabling patients to take control of their health, a concentration on controlling infections, regulations prioritizing patient safety, and an expanding home healthcare market.
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What are the major factors driving growth in the safety lancet market?
The escalating occurrence of diabetes is predicted to fuel the expansion of the safety lancet market in the future. Diabetes is a persistent health condition where the body is unable to control blood sugar (glucose) levels effectively. The skyrocketing incidence of diabetes can be linked to factors like the growth in obesity rates, inactive lifestyles, unhealthy eating practices, aging demographics, and hereditary susceptibility. Safety lancets play a crucial role in diabetes control, offering a secure and comfortable means to collect blood samples for glucose assessment, while reducing the chances of infection and needle-stick injuries. For instance, as per the statistics shared by the British Diabetic Association, a health professional and research charity based in the UK, around 4.3 million individuals in the UK were diagnosed with diabetes in 2022, marking an increase of 148,951 from 2021. Therefore, the escalating occurrence of diabetes is a key driver propelling 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 are the top market players propelling the growth of the safety lancet industry?
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 are the key trends shaping the future of the safety lancet market?
Key players in the safety lancet industry are introducing cutting-edge devices like heel lancets to increase safety and precision in infant heel puncture processes, supplying sterile, one-time use lancets to lower the chance of infection. Heel lancets, which are diminutive, sharp instruments used for pricking the heel to gather a blood sample, are regularly employed in newborn screening and diabetes monitoring. As an example, Owen Mumford, a medical solutions firm based in the UK, debuted their Unistik Heelstik neonatal and pediatric capillary blood sampling devices in October 2023. These devices come equipped with advanced safety features to assure accurate punctures while reducing discomfort for infants and lowering the chances of healthcare professionals experiencing needlestick injuries.
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What regions are dominating the safety lancet market growth?
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.
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