What is Global Lancing Devices Market?
The Global Lancing Devices Market is a sector that focuses on the production and distribution of lancing devices, which are used to prick the skin to obtain small blood specimens for testing. These devices are primarily used in the medical field for various diagnostic tests. The market is global in nature, meaning it encompasses manufacturers, distributors, and consumers from all around the world. In 2023, the market was valued at US$ 322 million and it is projected to grow to US$ 445.8 million by 2030. This growth is driven by various factors such as advancements in technology, increasing prevalence of diseases requiring blood tests, and growing awareness about health and wellness.
Adjustable Lancing Device, Non-adjustable Lancing Device in the Global Lancing Devices Market:
The Global Lancing Devices Market is segmented into two main types of devices: Adjustable Lancing Device and Non-adjustable Lancing Device. Adjustable Lancing Devices allow the user to adjust the depth of the skin prick, which can be beneficial for individuals with different skin thicknesses or sensitivities. On the other hand, Non-adjustable Lancing Devices have a fixed depth and are typically used for standard procedures. Both types of devices have their own advantages and are chosen based on the specific needs and preferences of the user. Despite the availability of both types, Adjustable Lancing Devices dominate the market with a share of over 95%.
Glucose Tests, Cholesterol Tests, Others in the Global Lancing Devices Market:
The Global Lancing Devices Market finds its application in various areas such as Glucose Tests, Cholesterol Tests, among others. Glucose tests are the most common application of lancing devices, primarily due to the high prevalence of diabetes worldwide. These devices enable individuals to monitor their blood glucose levels at home, without the need for a lab visit. Similarly, lancing devices are also used for cholesterol tests, which are crucial for individuals with heart disease or those at risk. Other applications of lancing devices include genetic testing, allergy testing, and more. The versatility and convenience of these devices contribute to their increasing demand in the market.
Global Lancing Devices Market Outlook:
Looking at the market outlook for the Global Lancing Devices Market, it is evident that the sector is on a growth trajectory. In 2023, the market was valued at a significant US$ 322 million. It is projected to experience a Compound Annual Growth Rate (CAGR) of 4.7% from 2024 to 2030, reaching a value of US$ 445.8 million. This growth can be attributed to the increasing demand for lancing devices and the dominance of the top five manufacturers who hold over 40% of the market share. Furthermore, Adjustable Lancing Devices continue to be the most popular product, accounting for over 95% of the market.
| Report Metric | Details |
| Report Name | Lancing Devices Market |
| Accounted market size in 2023 | US$ 322 million |
| Forecasted market size in 2030 | US$ 445.8 million |
| CAGR | 4.7% |
| 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, Lifescan, Abbott, Ascensia, B. Braun, TERUMO, Sinocare, ARKRAY, GMMC Group, BIONIME, LIANFA, Lobeck Medical AG |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
