Research Report on Lancets Market Globally strategic overview Lancets Market

Lancets Market worth $1,442 million by 2024
According to the new market research report "Lancets Market by Type (Safety Lancets (Push
button, Pressure Activated, Side Button), Personal Lancets), Application (Glucose Testing,
Hemoglobin Testing), End User (Hospital, Clinic, Homecare), Region - Global Forecast to
2024", published by MarketsandMarkets™, is projected to grow at a CAGR of 12.4% during the
forecast period to reach USD 1,442 million by 2024 from USD 804 million in 2019.
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Factors such as the growing prevalence of diabetes and the high prevalence of infectious
diseases are driving the growth of the Lancets Market during the forecast period.
Safety Lancet is expected to be the most widely used type of the Lancets Market
The safety lancets accounted for the largest market share in 2018. This is primarily be
attributed to the advantages associated with safety lancets such as their ease of use, the
capability to prevent needlestick injuries and cross-contamination, and painlessness of vein
puncture. In line with this, According to PharmaJet, in the US, around 600,000 to 800,000
needlestick injuries are reported every year. This is expected to increase the demand of safety
lancets.
Browse and in-depth TOC on "Lancets Market"
75 - Tables
27 - Figures
107 - Pages
Glucose testing segment is expected to account for the largest share of the Lancets Market
application
The glucose testing segment accounted for the largest share of the Lancets Market, by
application, in 2018. This is primarily due to the increasing prevalence of diabetes, and the need
for its prevention and management. For instance, according to the International Diabetes
Federation (IDF), in 2017, there were almost 425 million people suffering from diabetes
worldwide, and this figure is expected to increase to 629 million by 2045. The growing
prevalence of diabetes has resulted in the increased adoption of lancets to effectively handle
the growing patient pool.
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