What is Global Home Use Lancing Devices Market?
The Global Home Use Lancing Devices Market is a sector that focuses on the production and distribution of lancing devices for home use. These devices are primarily used for blood sampling, typically for monitoring blood glucose levels in individuals with diabetes. The market encompasses a wide range of products, including adjustable and non-adjustable lancing devices, and caters to various testing needs such as cholesterol and glucose tests. The global market value for these devices was estimated at US$ 320 million in 2022, and it is projected to reach US$ 422.5 million by 2029, growing at a Compound Annual Growth Rate (CAGR) of 4.0% from 2023 to 2029.
Adjustable Lancing Device, Non-adjustable Lancing Device in the Global Home Use Lancing Devices Market:
Adjustable and non-adjustable lancing devices are the two main types of products in the Global Home Use Lancing Devices Market. Adjustable lancing devices allow users to adjust the depth of the lancet's penetration, making it easier to obtain a blood sample without causing unnecessary pain. On the other hand, non-adjustable lancing devices have a fixed penetration depth. Despite the lack of adjustability, these devices are still widely used due to their simplicity and cost-effectiveness. Interestingly, adjustable lancing devices dominate the market, accounting for about 90% of the total market share. This dominance can be attributed to their user-friendly design and the comfort they offer to users.
Cholesterol Tests, Glucose Tests, Others in the Global Home Use Lancing Devices Market:
The Global Home Use Lancing Devices Market serves various testing needs, including cholesterol tests, glucose tests, and others. Cholesterol tests are crucial for individuals with high cholesterol levels as they help monitor and manage the condition. Glucose tests, on the other hand, are essential for people with diabetes as they help track blood sugar levels and adjust treatment plans accordingly. Other tests that use lancing devices include blood coagulation tests and neonatal heel stick screening tests. Despite the diverse applications, glucose testing is the most common use of lancing devices, primarily due to the high prevalence of diabetes worldwide.
Global Home Use Lancing Devices Market Outlook:
To recap the market outlook, the Global Home Use Lancing Devices Market was valued at US$ 320 million in 2022. It is expected to grow at a CAGR of 4.0% from 2023 to 2029, reaching an estimated value of US$ 422.5 million. The market is dominated by a few key players, with the top five manufacturers holding over 60% of the market share. In terms of product type, adjustable lancing devices are the most popular, accounting for about 90% of the market share.
| Report Metric | Details |
| Report Name | Home Use Lancing Devices Market |
| Accounted market size in 2022 | US$ 320 in million |
| Forecasted market size in 2029 | US$ 422.5 million |
| CAGR | 4.0% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Consumption by Region |
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| By Company | Roche, LifeScan, Abbott, Ascensia, B. Braun, Terumo, ARKRAY, Trividia Health, SANNUO, GMMC, BIONIME |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
