Diabetic Lancing Device Market Comprehensive Analysis and Future Estimations 2023 with Trends and Future Prospects Details for Business Development

Market Research Future adds the “Diabetic Lancing Device Market Research Report- Global Forecast To 2023” report to their unique collection. The global Diabetic Lancing Device market is expected to grow at a CAGR of 11.0% during the forecast period 2017-2023.

Market Scenario:

Diabetes is a global epidemic affecting an estimated 382 million people worldwide. The WHO projects that diabetes will be the 7th leading cause of death by 2030. An estimated 4 million people die annually from the complications associated with diabetes. Therefore, if the current trend associated with the prevalence of diabetes continues over the coming years, the number of diabetic patients across the globe would be tremendous after a decade. Increasing prevalence of diabetes will result in the rising demand for devices and products to monitor and control diabetes, eventually leading to increased consumption of lancets. Thus, the demand for lancets is expected to be enormous in the coming future.

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Lancets are one of the widely used alternative device to obtain the blood samples. These devices are receiving global recognition and acceptance due to its several convenient characteristics which gives them an edge over the traditional methods for vein puncture. Some of the important features of the safety lancets are painless vein puncture, easy handling, and safety while using. The major applications of the lancets are HIV screening test, capillary blood micro sampling and cholesterol test, blood group test, coagulation tests, haemoglobin, allergy tests, and many other blood based tests. According to the International Diabetes Federation (IDF), approximately 29.2 million people in the US are estimated suffer from diabetes in 2015. Japan had approximately 7.2 million. in 2015.

Rising prevalence of diabetic population, increasing awareness for blood glucose monitoring device and increased awareness of safety measures in order to avoid the infectious diseases are some of the significant factors of the increased awareness and use of lancets. However, the price erosion is a major issue that is negatively impacting the diabetes management devices. Moreover, significant changes in reimbursement policies in the US for blood glucose monitors, particularly the ongoing impact to the private insurance sector are some of the factors restraining the growth of diabetic lancing device market.

The global diabetic lancing device market is expected to grow at a CAGR of approximately 11.0% during the forecast period 2017-2023.

Intended Audience

  • Diabetic Lancing Device Suppliers
  • Diabetic Lancing Device Manufacturers
  • Research and Development (R&D) Companies
  • Medical Research Laboratories
  • Academic Medical Institutes and Universities

Segmentation:

The global diabetic lancing devices market is segmented on the basis of type, gauge, penetration depth, and end user.

On the basis of type, the market for diabetic lancing devices it is segmented into safety lancets and standard lancets. The safety lancets are further categorized into push-button safety lancets, pressure activated safety lancets, and side button safety lancets. The pen needles is further categorized into standard pen needles and safety pen needles.

On the basis of gauge, the market for diabetic lancing devices it is segmented into 17/18g, 21g, 23g, 25g, 28g,  30g, and others.

On the basis of penetration depth, the market for diabetic lancing devices it is segmented into 0.8 mm to 1.0 mm, 1.1 mm to 1.5 mm, 1.6 mm to 2.0 mm, 2.1 mm to 2.5 mm, 2.5 mm to 3.0 mm, and others.

On the basis of the end users, it is segmented into hospitals & clinics, diagnostic centers & medical institutions, home care & home diagnostics, research & academic laboratories, and others.

Regional Analysis:

The global diabetic lancing device market consists of countries namely America, Europe, Asia Pacific, and the Middle East and Africa.

Europe is projected to hold the largest share of the global diabetic lancing device market attributed to change in lifestyle, increase in R&D activities for the development of new drugs.  According to the International Diabetes Federation (IDF), in 2015 approximately 59.8 million people had diabetes in Europe. HTL Strefa and Sarstedt are two European companies which have marked their presence on the global level as a major manufacturer of lancets and safety lancets in the world.

The Americas holds a key share in diabetic lancing device treatment market. Moreover, North America dominated the overall market in terms of revenue in 2016. In the U.S., ongoing uncertainty as to the future of the Affordable Care Act and the Trump Administration’s repeal and replace initiative may further impact the market.

Asia Pacific is estimated to be the fastest region to  grow at a high CAGR during the forecast period, led by an increase in government spending on healthcare services in India and China. A large number of lancet manufacturers are from developing Asian countries such as China, India, Japan and Republic of Korea mainly because of the low labour cost and low R&D cost. China being one of the highly populated and technologically advanced developing countries, has a major number of lancets manufacturers. Some of the renowned Chinese Safety Lancet manufacturers are Guangzhou Improve Medical Instruments Co, Huang and KDL China.

The Middle East & Africa is projected to expand during the forecast period, owing to the rise in investments by market players and increase in prevalence of diabetic lancing devices.

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Key Players:

Some of the key players in the global diabetic lancing devices market are B. Braun Melsungen AG, Terumo Corporation, Becton Dickinson, Sanofi, F. Hoffmann-La Roche AG, Bayer AG, Novo Nordisk A S, Eli Lilly and Company, Owen Mumford Ltd, Medtronic, Ypsomed Holding AG, Sarstedt AG & Co, Greiner Bio One, Abbott Laboratories, HTL-STREFA S.A, Improve Medical, UltiMed, Inc., Allison Medical, Inc., Artsana S.p.a., VOGT MEDICAL, Perrigo Diabetes Care, MedExel Co., Ltd, ARKRAY Inc., Simple Diagnostics, Stat Medical, Terumo, Trividia Health, and others.

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