Blood Lancet Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Blood Lancet Market is segmented By Product Type (Safety Lancet, Homecare Lancet), By End User and Geography.

Market Snapshot

blood lancet market
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 7 %

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Market Overview

The Blood Lancet Market is expected to register a CAGR of 9% during the forecast period. This is attributing to an increase in the incidence of chronic diseases, rising reimbursement policies, high prevalence of infectious diseases. Blood lancets are used to collect blood samples which is further used for monitoring purposes of several chronic diseases such as diabetes. In diabetes patients these blood lancets are widely used to check blood glucose levels. As per the Centers for Disease Control and Prevention, 6 in 10 adults in the United States are living with at least one type of chronic disease making chronic diseases a leading cause of death. Thus, the rising number of chronic diseases globally results in high adoption of blood lancet for diagnosing and monitoring purposes and drive the overall market. Furthermore, increasing inclination towards home healthcare devices with improving medical device regulation will also create a lucrative opportunity for the blood lancet market in the future.

Scope of the Report

As per the scope, Blood lancet is the blood sampling device used in capillary blood sampling. The instrument has a double-edged blade that punctures the skin and then the blood sample can be collected which further used for various monitoring and diagnosing purposes.

By Product Type
Safety Lancet
Homecare Lancet
By End User
Hospitals
Blood Banks
Home Care
Others
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Blood Lancet in Hospitals is Estimated to Witness a Healthy Growth in Future.

Blood Lancet in hospitals is estimated to witness a healthy growth in the future attributed to the growing number of chronic disease cases and infectious disease cases population. These targeted patient pools will require blood testing for diagnosing and treatment which is widely performed in hospitals thus results in promoting segment growth.

Homecare will also witness a significant growth in the coming years owing to a growing preference among the targeted population with benefits associated with blood lancets such as ease of use and simple design.

In Addition, as per International Diabetes Federation it is estimated that the number of diabetics population will be going to increase in the future which further fuels the blood lancet market.

key trends lancet.png

North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period

North America is expected to hold a significant market share in the global Blood Lancet market due to the rising geriatric population, increasing targeted population, growing R&D expenses and growing awareness about diabetes treatment. As per Centers for Diseases Control and Prevention, in 2018 Around 34.2 million people in the United States had diabetes. Thus, with such a huge diabetic population will result in high demand for blood lancet for diagnosing and thus promotes the market in this region. Moreover, healthcare expenditure and the presence of well-established healthcare infrastructure is also fueling the growth of the overall regional market to a large extent.

geography blood lancet.png

Competitive Landscape

The Blood Lancet Market is moderately competitive and consists of several major players. Some of the companies which are currently dominating the market are Becton, Dickinson and Company, F. Hoffmann-La Roche Ltd, B. Braun Melsungen AG, Abbott, Terumo Corporation, ARKRAY, Owen Mumford Ltd, Intrinsyk, LLC., Sterimed, and Amkay Products Pvt. Ltd.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increase in Incidence of Chronic Diseases

      2. 4.2.2 Rising Reimbursement Policies

      3. 4.2.3 High Prevalence of Infectious Diseases

    3. 4.3 Market Restraints

      1. 4.3.1 Reuse of Lancets

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Safety Lancet

      2. 5.1.2 Homecare Lancet

    2. 5.2 By End User

      1. 5.2.1 Hospitals

      2. 5.2.2 Blood Banks

      3. 5.2.3 Home Care

      4. 5.2.4 Others

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 South Korea

        6. 5.3.3.6 Rest of Asia-Pacific

      4. 5.3.4 Middle-East and Africa

        1. 5.3.4.1 GCC

        2. 5.3.4.2 South Africa

        3. 5.3.4.3 Rest of Middle-East and Africa

      5. 5.3.5 South America

        1. 5.3.5.1 Brazil

        2. 5.3.5.2 Argentina

        3. 5.3.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Becton, Dickinson and Company

      2. 6.1.2 F. Hoffmann-La Roche Ltd

      3. 6.1.3 B. Braun Melsungen AG

      4. 6.1.4 Abbott

      5. 6.1.5 Terumo Corporation

      6. 6.1.6 ARKRAY

      7. 6.1.7 Owen Mumford Ltd

      8. 6.1.8 Intrinsyk, LLC.

      9. 6.1.9 Sterimed

      10. 6.1.10 Amkay Products Pvt. Ltd

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Blood Lancet Market market is studied from 2018 - 2026.

The Blood Lancet Market is growing at a CAGR of 7% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Becton, Dickinson and Company, F. Hoffmann-La Roche Ltd, B. Braun Melsungen AG, Abbott, Terumo Corporation are the major companies operating in Blood Lancet Market.

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