What is Global Lancet Pens and Needles Market?
The Global Lancet Pens and Needles Market is a rapidly expanding sector within the healthcare industry. These devices are primarily used for blood sampling and are an essential tool in the diagnosis and monitoring of various health conditions. The market encompasses a wide range of products, including lancet pens and different types of needles such as pen-type blood sampling needles, split blood sampling needles, arterial blood collection needles, and others. The global market value for these products was estimated at US$ 2050 million in 2023 and is projected to reach US$ 3761 million by 2030, growing at a compound annual growth rate (CAGR) of 10.5% during the forecast period from 2024 to 2030.
Pen-type Blood Sampling Needle, Split Blood Sampling Needle, Arterial Blood Collection Needle, Other in the Global Lancet Pens and Needles Market:
The Global Lancet Pens and Needles Market is segmented based on the type of product. Pen-type blood sampling needles are commonly used for routine blood tests and are designed for easy handling and minimal discomfort. Split blood sampling needles are used for specialized tests and offer a higher degree of precision. Arterial blood collection needles are used for arterial blood gas analysis, a critical test in emergency medicine and intensive care. Other types of needles cater to specific needs and applications in the healthcare sector. Each product type has its unique features and advantages, contributing to the overall growth of the market.
Hospital and Clinics, Residential, Others in the Global Lancet Pens and Needles Market:
The usage of lancet pens and needles is widespread in various settings. Hospitals and clinics are the primary users of these devices, where they are used for routine tests, emergency procedures, and long-term patient monitoring. In residential settings, lancet pens and needles are used by individuals for self-monitoring of conditions like diabetes. Other areas of usage include research institutions, diagnostic centers, and home healthcare services. The versatility and convenience of these devices make them an indispensable tool in modern healthcare.
Global Lancet Pens and Needles Market Outlook:
In terms of market outlook, the Global Lancet Pens and Needles Market is on a positive trajectory. In 2023, the market was valued at US$ 2050 million and is expected to grow to US$ 3761 million by 2030. This represents a CAGR of 10.5% during the forecast period of 2024 to 2030. This growth is part of a larger trend in the global market for medical devices, which was estimated at US$ 603 billion in 2023 and is projected to grow at a CAGR of 5% over the next six years.
| Report Metric | Details |
| Report Name | Lancet Pens and Needles Market |
| Accounted market size in 2023 | US$ 2050 million |
| Forecasted market size in 2030 | US$ 3761 million |
| CAGR | 10.5% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Consumption by Region |
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| By Company | Roche, BD, Bayer, Lifescan, B. Braun, Abbott, Terumo, Nipro, Sarstedt, ARKRAY, Smiths Medical, Owen Mumford, HemoCue, Greiner Bio One, Omron, AgaMatrix, SANNUO, KDL, JXHD, Sanli, Allison Medical Inc., Braun Melsungen AG, Gerresheimer AG, Lonza |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
