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Global Safety Lancet Market – Industry Trends and Forecast to 2031

Healthcare

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Global Safety Lancet Market – Industry Trends and Forecast to 2031

  • Healthcare
  • Upcoming Report
  • Jul 2024
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Safety Lancet Market – Industry Trends and Forecast to 2031

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2023–2031
Diagram Market Size (Base Year) USD 1.46 Billion
Diagram Market Size (Forecast Year) USD 3.07 Billion
Diagram CAGR %

Major Markets Players

  • F. Hoffmann-La Roche Ltd (Switzerland)
  • BD (U.S.)
  • Abbott (U.S.)
  • Amkay Products Limited (India)
  • Terumo Medical Corporation (Japan)

Global Safety Lancet Market, By Product Type (Push Button Safety Lancet, Pressure Activated Safety Lancet, and Side Button Safety Lancet), End User (Hospitals and Clinics, Diagnostic Centers and Pathology Laboratories, Home Diagnostics, and Others), Application (Blood Glucose Testing, Haemoglobin Testing, Cholesterol Testing, and Coagulation Testing) – Industry Trends and Forecast to 2031.

Safety Lancet Market

 

Safety Lancet Market Analysis and Size

The safety lancet market is advancing rapidly with the adoption of the latest methods and technologies, driving growth. Innovations such as automated lancet devices and retractable needles enhance safety and convenience for users. Market expansion is fueled by increasing awareness of infection control and the rising demand for point-of-care diagnostics, particularly in healthcare settings aiming for improved patient experience and safety compliance.                                

The global safety lancet market size was valued at USD 1.46 billion in 2023 and is projected to reach USD 3.07 billion by 2031, with a CAGR of 9.75% during the forecast period 2024 to 2031. This indicates that the market value. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2024 to 2031

Base Year

2023

Historic Years

2022 (Customizable to 2016-2021)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Product Type (Push Button Safety Lancet, Pressure Activated Safety Lancet, and Side Button Safety Lancet), End User (Hospitals and Clinics, Diagnostic Centers and Pathology Laboratories, Home Diagnostics, and Others), Application (Blood Glucose Testing, Haemoglobin Testing, Cholesterol Testing, and Coagulation Testing)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Market Players Covered

F. Hoffmann-La Roche Ltd  (Switzerland), BD (U.S.), Abbott (U.S.), Amkay Products Limited (India), Terumo Medical Corporation (Japan), Bayer AG (Germany), B. Braun SE (Germany), SARAHEALTH CARE (India), GLOBAL SURGIMED INDUSTRIES (India), HICKS THERMOMETERS (INDIA) LTD. (India), Narang Medical Limited (India), Sterimed Group (India), Ribbel International Limited  (India), SARSTEDT AG & Co. KG (Germany), and Greiner Bio-One International GmbH (Austria)

Market Opportunities

  • Growing Home Healthcare Market
  • Regulatory Emphasis on Patient Safety

Market Definition

A safety lancet is a medical device used for blood sampling, designed with a retractable needle or blade that minimizes the risk of needlestick injuries. It's commonly used for quick, single-use blood collection in settings such as hospitals, clinics, and laboratories. The retractable mechanism ensures safe disposal after use, reducing potential exposure to bloodborne pathogens for healthcare professionals.            

Safety Lancet Market Dynamics

Drivers

  • Increasing Incidence of Diabetes and Chronic Diseases

The increasing prevalence of diabetes and other chronic diseases necessitates frequent blood sampling, spurring demand for safety lancets. For instance, as diabetes rates continue to rise globally, the need for convenient and safe blood sampling devices such as safety lancets becomes critical. These devices reduce the risk of needlestick injuries and enhance patient compliance, thereby driving the growth of the safety lancet market in response to healthcare demands.

  • Focus on Infection Control

Safety lancets are increasingly adopted in healthcare settings due to their significant role in infection control, effectively reducing needlestick injuries among healthcare workers. This enhanced safety feature not only protects medical personnel from bloodborne pathogens but also aligns with stringent healthcare regulations worldwide. For instance, hospitals and clinics in developed regions such as North America and Europe are swiftly transitioning to safety lancets to mitigate occupational hazards, thereby driving market growth and adoption.

Opportunities

  • Growing Home Healthcare Market

The expanding home healthcare market is driving demand for safe and convenient blood sampling devices such as safety lancets. As more patients manage chronic conditions from home, the need for easy-to-use tools that reduce infection risks becomes critical. For instance, safety lancets enable diabetic patients to perform blood tests safely without professional assistance, aligning with the trend towards patient empowerment in healthcare delivery, thereby fueling the growth of the safety lancet market.

  • Regulatory Emphasis on Patient Safety

Stringent regulations mandating enhanced safety measures in medical devices, such as safety lancets, propel market growth. For instance, the FDA's guidelines in the United States and similar regulatory frameworks globally prioritize minimizing needlestick injuries and improving patient safety. This emphasis compels healthcare facilities to adopt safer alternatives such as safety lancets, driving their market demand due to compliance requirements and the focus on reducing healthcare-associated infections and injuries. 

Restraints/Challenges

  • Preference for Conventional Lancets

Some healthcare providers and patients prefer traditional lancets due to their familiarity and perceived simplicity, hindering the adoption of safety lancets in the market. This preference is rooted in established practices and ease of use associated with conventional lancets, creating a barrier to broader acceptance of newer safety technologies despite their potential advantages in minimizing injury and contamination risks.

  • Preference for Alternate Testing Methods

The increasing adoption of alternative blood sampling methods, such as continuous glucose monitors, poses a significant hindrance to the safety lancet market. These alternatives diminish the demand for traditional lancets, impacting market growth adversely. Healthcare providers and patients are shifting away from lancets due to perceived advantages in convenience, accuracy, and reduced discomfort associated with continuous monitoring technologies. This trend undermines the market potential for safety lancets amidst evolving diagnostic preferences. 

This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Development

  • In June 2023, the World Health Organization (WHO) released a report emphasizing lancet usage in developing nations, highlighting their role in improving blood testing accessibility
  • In March 2023, Astellas Pharma announced a partnership with Roche Diabetes Care Japan Co., Ltd. to develop and market Roche's Accu-Chek Guide Me blood glucose monitoring system. The collaboration aims to integrate Accu-Chek Guide Me with BlueStar, enhancing medical product offerings

Safety Lancet Market Scope

The market is segmented on the basis of product type, application, and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

  • Push Button Safety Lancet
  • Pressure Activated Safety Lancet
  • Side Button Safety Lancet

 End User

  • Hospitals and Clinics
  • Diagnostic Centers and Pathology Laboratories
  • Home Diagnostics
  • Others

 Application

Safety Lancet Market Regional Analysis/Insights

The market is analysed and market size insights and trends are provided by country, product type, application, and end user as referenced above.

The countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Europe is expected to dominate the safety lancet market due to its extensive healthcare networks, encompassing numerous hospitals and clinics. The region also hosts major market players, contributing to its leadership in this medical device sector.

North America is expected to expand at a significant growth rate in the safety lancet market, driven by increasing awareness and adoption of these devices. This trend is anticipated to continue over the forecast period due to heightened safety concerns.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure growth Installed base and New Technology Penetration

The market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the market. The data is available for historic period 2016-2021.

Competitive Landscape and Safety Lancet Market Share Analysis

The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.

Some of the major players operating in the market are:

  • F. Hoffmann-La Roche Ltd  (Switzerland)
  • BD (U.S.)
  • Abbott (U.S.)
  • Amkay Products Limited (India)
  • Terumo Medical Corporation (Japan)
  • Bayer AG (Germany)
  • B. Braun SE (Germany)
  • SARAHEALTH CARE (India)
  • GLOBAL SURGIMED INDUSTRIES (India)
  • HICKS THERMOMETERS (INDIA) LTD. (India)
  • Narang Medical Limited (India)
  • Sterimed Group (India)
  • Ribbel International Limited  (India)
  • SARSTEDT AG & Co. KG (Germany)
  • Greiner Bio-One International GmbH (Austria)


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FREQUENTLY ASK QUESTIONS

The Safety Lancet Market Industry was worth USD 1.46 billion in 2023 & it is projected to reach USD 3.07 billion by 2031.
The Growth Rate of the Safety Lancet Market will be 9.75% by 2031
The latest development in the Safety Lancet Market are the World Health Organization (WHO) released a report emphasizing lancet usage in developing nations, highlighting their role in improving blood testing accessibility and Astellas Pharma announced a partnership with Roche Diabetes Care Japan Co., Ltd.
Blood Glucose Testing, Haemoglobin Testing, Cholesterol Testing, and Coagulation Testing are the market applications of the Safety Lancet Market. "
The major companies in the Safety Lancet Market are F. Hoffmann-La Roche Ltd (Switzerland), BD (U.S.), Abbott (U.S.), Amkay Products Limited (India), Terumo Medical Corporation (Japan), Bayer AG (Germany), B. Braun SE (Germany), SARAHEALTH CARE (India), GLOBAL SURGIMED INDUSTRIES (India), HICKS THERMOMETERS (INDIA) LTD. (India), Narang Medical Limited (India), Sterimed Group (India), Ribbel International Limited (India), SARSTEDT AG & Co. KG (Germany), and Greiner Bio-One International GmbH (Austria).
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