Mar 4, 2020   SOURCE: PR NewsWire

Lancets - An Essential Part of Effective Diabetes Management: Infinium Global Research

PUNE, India, March 4, 2020 /PRNewswire/ -- A recent report by Infinium Global Research on "Lancet Market (Type - Safety Lancets, and Personal Lancets; Application - Blood Test, Hemoglobin Test, and Skin Test; End User - Hospitals and Clinics, Diagnostic Centers, and Homecare): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025" estimates that the market was worth USD 1626.63 Million in 2018 and is projected to expand with a CAGR of 12.5% over the period of 2019 to 2025. The report also provides a comprehensive outline of the factors responsible for the growth of the market.

https://mma.prnewswire.com/media/1097741/Infinium_Global_Research_Logo.jpg

Millions of people worldwide are affected by diabetes, one of the most perturbing chronic diseases for its major economic and social impact. Studies show that every 19 seconds, someone is diagnosed with this lifestyle disease. Additionally, factors such as aging of the population, changes in physical activity levels, and shift in the patterns of dietary intake factors are driving the rate of diabetes prevalence worldwide. In diabetes patients, lancing fingertips for self-monitoring of blood glucose is a standard procedure. Currently, due to the rising necessity for self-monitoring of blood glucose in diabetes, lancing devices used for capillary blood sampling are gaining prominence.

Lancets are used with a lancing device to make blood sampling more effective and less painful. The major growth driver for the progression of lancet market is the growing prevalence of diabetes, which has also led to the emergence of fully integrated systems and diabetic management devices in which all steps for self-monitoring of blood glucose are integrated for maximum lancing comfort.

Download Exclusive Sample Copy of Report: https://www.infiniumglobalresearch.com/reports/sample-request/13028

Rise in the Usage of Safety Lancets to Augment the Growth of the Lancets Industry

In the recent years, lancets have gained worldwide acceptance. In particular, safety lancets such as push-button safety lancet, pressure activated safety lancet and side button safety lancet are being promptly used due to their convenient features such as easy handling, painless vein puncture, and enhanced safety. This provides an edge over the use of traditional methods for vein puncture and therefore, widely being implemented in cholesterol test, HIV screening test, capillary blood micro sampling, blood group tests, allergy diagnostics, and several other blood-based tests. They are also increasingly adopted in home care settings and in hospitals and diagnostic centre as they are safe, easy-to-use, and clinically effective in reducing the risk of needle stick injuries. Additionally, as the the trend of rapid point of care (POC) devices continue to evolve, the demand for lancets are expected to augment considerably over the forecast period

Europe to Hold the Largest Share in the Global Lancets Market

Geographically, Europe held the leading position in the global lancets market owing to the high prevalence of diabetes in countries such as U.K., Germany and France. The lancet market for Europe is estimated to be over USD 700 million in 2018 growing at a CAGR of 12.10%. Additionally, about 60 million people are affected with diabetes in the European region. The high spending capability of the European public along with increasing adoption of lancing devices for self-monitoring of blood glucose contributes to the growth of the Europe lancets market. Furthermore, the use of Point of Care Testing in hospitals is on the rise across Europe.

In particular Emergency Departments (EDs) are adopting flu rapid tests to speed up time-to-diagnosis and address the burden on departments during flu season, which in turn increases the consumption of lancets across Europe. Although Europe leads the global market, Asia Pacific is expected to outgrow the Europe lancets market, registering a CAGR of 14.58% over the forecast period. Presently, more than 60% of the people with diabetes live in Asia, with almost one-half in China and India combined. The Western Pacific, the world's most populous region, is estimated to have more than 138.2 million people with diabetes, and the number is likely to rise to 201.8 million by 2035. Also, the presence of a large number of elderly population and increasing advancements in the healthcare sector in Asia Pacific countries contributes to the expansion of Asia Pacific lancets market.

Lancet Market to Witness Intense Competition and Consolidation Over the Forecast Period

The lancet market is consolidated and intensely competitive with the presence of major players such as Becton, Dickinson and Company, Own Mumford, SteriLance Medical, B. Braun Melsungen, HTL-STREFA S.A, Roche Diagnostics, Terumo Corporation, and Abbott Laboratories. The key players compete with each other in terms of product differentiation, quality, price, distribution, innovation, and brand promotion. However, B. Braun Melsungen AG holds a substantial share in the market owing to its broad range of product offerings and a widespread distribution network across the globe.

Furthermore, several companies are focusing on designing highly adaptive lancets that fits into all lancet devices. The report on "Lancets Market" published by Infinium Global Research offers a detailed competitive landscape of the market and also includes strategic profiling of key market players, their core competencies, the current situation and recent developments changing the landscape of the global lancets market

Need Assistance? Send an Enquiry@ https://www.infiniumglobalresearch.com/reports/enquiry/13028

Global Lancet Industry Coverage

Chapter - 1 Preface

    --  Report Description
    --  Research Methods
    --  Research Approaches

Chapter - 2 Executive Summary

    --  Lancet Market Highlights
    --  Lancet Market Projection
    --  Lancet Market Regional Highlights

Chapter - 3 Global Lancet Market Overview

    --  Introduction
    --  Market Dynamics
    --  Drivers
    --  Porter's Five Forces Analysis
    --  IGR-Growth Matrix Analysis
    --  Value Chain Analysis of Lancet Market

Chapter - 4 Lancet Market Macro Indicator Analysis

Chapter - 5 Global Lancet Market by Type

    --  Safety Lancets
    --  Push Button
    --  Pressure Activated
    --  Side Button
    --  Personal Lancets

Chapter - 6 Global Lancet Market by Application

    --  Blood Test
    --  Hemoglobin Test
    --  Skin Test

Chapter - 7 Global Lancet Market by End User

    --  Hospitals and Clinics
    --  Diagnostic Centers
    --  Homecare

Chapter - 8 Global Lancet Market by Region 2019-2025

    --  North America
    --  Europe
    --  Asia-Pacific
    --  RoW

Chapter - 9 Company Profiles and Competitive Landscape

    --  Becton, Dickinson and Company
    --  Own Mumford
    --  SteriLance Medical
    --  Braun Melsungen
    --  HTL-STREFA S.A
    --  Roche Diagnostics
    --  Terumo Corporation
    --  Abbott Laboratories
    --  Sarstedt AG & Co
    --  Ypsomed

Browse in-depth TOC on "Lancet Market"

About Us

Infinium Global Research is a business consulting and market research firm; a group of experts that caters to fulfilling business and market research needs of leading companies in various industry verticals and business segments. The company also serves government bodies, institutes and non-profit/non-government organizations to meet their knowledge and information needs.

Through our information services and solutions, we assist our clients to improve their performance and assess the market conditions to achieve their organizational goals. Our team of experts and analysts are engaged in continuously monitoring and assessing the market conditions to provide the knowledge support to our clients. To help our clients and to stay updated with the advances and inventions in technology, business processes, regulations and environment, Infinium often conducts regular meets with industry experts and opinion leaders. Our key opinion leaders are involved in monitoring and assessing the progress in the business environment, so as to offer the best opinion to our clients.

Contact:
Mr. Shrikant Athavale
Infinium Global Research
Office No. 103 and 104,
Suratwala Mark Plazzo,
Hinjawadi, Pune,
Maharashtra,
Pin- 411057.
USA: +1-888-500-3114
Email: info@infiniumglobalresearch.com
Research Insight: https://www.infiniumglobalresearch.com/healthcare-medical-devices/global-lancet-market

Visit Our Web Site: https://www.infiniumglobalresearch.com

View original content:http://www.prnewswire.com/news-releases/lancets---an-essential-part-of-effective-diabetes-management-infinium-global-research-301016224.html

SOURCE Infinium Global Research