Global Safety Lancet Market, By 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), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights of Safety Lancet Market
Safety lancet market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to account to USD 2,328.86 million by 2028 and will grow at a CAGR of 9.75% in the above mentioned forecast period.
The increasing prevalence of home care systems is among the essential factors that intensify the safety lancet market's growth and demand. Home care is becoming the most preferred method of healthcare consulting in the last few years due to the rising demand for convenient and relaxed healthcare dispensation, which is also contributing to rising in the global market over the forecast period of 2021 to 2028. Also the rapidly growing development in telecommunications areas has also facilitated solid growth of the home care market, because the advanced telecommunications systems enable advanced telehealth systems that can distantly monitor patients and recommend remedies and medication. The factors mentioned above have driven up the demand for safety lancets. Patients can now manage injections easily with safety lancets, ignoring the need for a healthcare professional to be present.
Some other major drivers expected to fuel this market's growth are the growing prevalence of diabetes, high growth of insulin users and rising incidence rate of contagious and non-contagious diseases. Also the safety lancets are being used for heel-stick screening tests, diabetes, glucose test, tests in infants, and scarred emergency patients or brutally burned patients which is also fueling the market growth in the above-mentioned forecast period.
The high growth prospects in emerging countries as well as the increasing demand and need for safe blood glucose tests in hospitals, clinics and diagnostics centers will further accelerate the expansion of the safety lancet market and are also are offering significant growth opportunities for the market in the forecast period of 2021 to 2028. However, the high risk of needle stick injuries and poor reimbursement scenario in developing countries will restrict the growth of the safety lancet market. In contrast, the reuse of lancets can challenge the development of the safety lancet market.
This safety lancet 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 safety lancet market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Safety Lancet Market Scope and Market Size
Safety lancet market is segmented on the basis of product type and end user. The growth amongst these segments will help you analyze meager growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of product type, the safety lancet market is segmented into push button safety lancet, pressure activated safety lancet and side button safety lancet.
- The end user segment of the safety lancet market is segmented into hospitals and clinics, diagnostic centers and pathology laboratories, home diagnostics and others.
Safety Lancet Market Country Level Analysis
Safety lancet market is analyzed and market size insights and trends are provided by country, product type and end user as referenced above.
The countries covered in the safety lancet 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 region leads the safety lancet market owing to the widespread healthcare networks that encompass many hospitals and clinics and presence of major market players within the region. North America is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 owing to the rapidly rising awareness regarding safety lancets in this region.
The country section of the safety lancet market 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 consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, 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
Safety lancet 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 safety lancet market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the safety lancet market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Safety Lancet Market Share Analysis
Safety lancet 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 safety lancet market.
The major players covered in the safety lancet market report are F. Hoffmann-La Roche Ltd., BD, Abbott, Amkay Products Pvt. Ltd., Terumo Medical Corporation, Bayer AG, HTL-STREFA S.A., B. Braun Melsungen AG, Sara Health Care, Global Surgimed Industries, Hicks Thermometers India Limited, SteriLance Medical, NARANG MEDICAL LIMITED, Sterimed Group, Ribbel International Limited, Ra Lifecare Pvt. Ltd., SARSTEDT AG & Co. KG, Intrinsyk, LLC, Greiner Bio-One International GmbH and Omnia Health among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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