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The lancing devices and equipment market is forecasted to achieve exponential growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 16%, as per The Business Research Company’s market report!

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The Lancing Devices And Equipment Market Size In 2022 And Forecast

The global lancing devices and equipment market grew from $0.42 billion in 2021 to $0.49 billion in 2022 at a compound annual growth rate (CAGR) of 18.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The lancing devices and equipmen market is expected to grow to $0.9 billion in 2026 at a CAGR of 16.2%.

The lancing devices and equipment market consist of sales of lancing devices and equipment and related services. These devices are used to prick the skin to obtain blood samples for testing glucose levels.

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Rise In The Prevalence Of Diabetes Is Driving The Growth Of The Lancing Devices And Equipment Market

According to the International Diabetes Federation, in 2019, around 463 million adults had diabetes and the number is expected to reach 700 million by 2045. This growth in the number of diabetic patients is expected to increase the demand for lancing devices and equipment, thereby driving the market growth.

Competitive Landscape And The Regional Analysis Of The Lancing Devices And Equipment Market

Major players in the lancing devices and equipment market are Abbott Laboratories, B. Braun Melsungen AG, Terumo Corporation, F. Hoffmann-La Roche AG, LifeScan, Ascensia Diabetes Care, Becton Dickinson, Bayer AG, Medtronic, and ARKRAY.

Additionally, as per TBRC’s research – North America was the largest region in the lancing devices and equipment market in 2021 holding the largest market share.

The Lancing Devices And Equipment Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the lancing devices and equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the lancing devices and equipment market.

Increasingly Using Custom Vacuum Technology – A Key Trend In The Lancing Devices And Equipment Market

Lancing device manufacturers are increasingly using custom vacuum technology in lancing devices to minimize pain from poking. Lancing devices that use this technology create a shallow puncture on the skin without hitting the deeper pain nerves and blood is pulled up by the vacuum.

Lancing Devices And Equipment Market Segmentation By The Business Research Company

1) By Product: Safety Lancets, Standard Lancets

2) By Type: Reusable, Disposable

3) By End User: Hospitals and Clinics, Homecare and Home Diagnostics, Diagnostic Centres and Medical Institutions, Research and Academic Laboratories, Others

4) By Penetration Depth: 0.8mm-1mm, 1.1mm- 1.5mm, 1.6mm-2.0mm, Others

Here Are Some Reports Related To The Lancing Devices And Equipment Market –

Diabetes Care Devices Global Market Report 2022

Diagnostic Equipment Global Market Report 2022

Medical And Diagnostic Laboratory Services Global Market Report 2022

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