Discover trends, market shifts, and competitive outlooks for the lancing devices and equipment industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research

What Is the Estimated Market Size of the Lancing Devices And Equipment Market In 2029?

The market for lancing devices and equipment has seen robust growth in the past few years. The market is expected to expand from $3.06 billion in 2024 to $3.35 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 9.6%. The historical growth can be tied to the increasing rate of diabetes, patient comfort, home-based monitoring, and the digitization of healthcare.

The market size for lancing devices and equipment is projected to experience robust expansion in the upcoming years, with a projected worth of $4.78 billion in 2029 and a compound annual growth rate (CAGR) of 9.3%. The surge in growth during the prediction period is due to continuous diabetic cases, advancements in testing precision, the rise of telehealth and remote monitoring, and the advent of personalized medicine. Significant trends during the predicted period will encompass continuous glucose monitoring (CGM) integration, non-invasive glucose tracking, user-focused design, and the use of sustainable and environmentally friendly materials.

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What Are the Core Market Drivers Propelling Growth in the Lancing Devices And Equipment Industry?

The escalating incidence of diabetes is fueling market growth for lancing devices and equipment, as their usage for monitoring blood glucose levels becomes more widespread. These devices are employed by individuals with diabetes to procure blood samples used in glucose level testing. As an example, in March 2022, the IDF Diabetes Atlas, a comprehensive global resource based in Belgium that presents detailed data and knowledge on the incidence, management, and care of diabetes worldwide, forecasted a surge in global diabetes cases. Diabetes cases worldwide are expected to climb from 643 million in 2030 to 783 million by 2045, marking an increase of 140 million. At present, 537 million adults have diabetes, with over 75% residing in low- and middle-income nations. This uptick in the diabetic population is projected to amplify the requirement for lancing devices and equipment, thus propelling the market’s progression.

How Is the Lancing Devices And Equipment Market Segmented?

The lancing devices and equipment market covered in this report is segmented –

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

Subsegments:

1) By Reusable: Manual Reusable Lancets, Automated Reusable Lancets

2) By Disposable: Pre-filled Disposable Lancets, Single-use Lancets

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Which Regions Are Driving the Next Phase of the Lancing Devices And Equipment Market Growth?

North America was the largest region in the global lancing devices and equipment market in 2023. Western Europe was the second-largest region in the lancing devices and equipment market. The regions covered in the lancing devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

What Long-Term Trends Are Transforming the Competitive Landscape of the Lancing Devices And Equipment Market?

Manufacturers of lancing devices are continually utilizing customized vacuum technology to reduce discomfort from puncturing. This technology enables lancing devices to produce a superficial skin puncture, avoiding the deeper pain nerves, while the vacuum mechanism draws up the blood. One such device is the Genteel Lancing Device, a vacuum-assisted blood extraction tool that draws blood from capillaries and offers flexibility in use across various body parts besides the fingers.

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How Is the Lancing Devices And Equipment Market Defined and What Are Its Core Parameters?

Lancing devices and equipment refer to medical tools used to obtain small blood samples, for glucose testing in diabetic patients. These devices consist of a lancet, a small needle or blade, and a mechanism that punctures the skin, usually on the fingertip, to draw blood. Lancing devices feature adjustable depth settings to control penetration and minimize discomfort. They are essential for routine blood glucose monitoring and other diagnostic tests requiring capillary blood samples.

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