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Diabetic Lancing Devices Market Opportunity Analysis and Industry Forecast 2020-2027

A11422
Pages: NA
Aug 2021 | 39 Views
 
Author(s) : Onkar Sumant
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Diabetic Lancing Devices Market Outlook - 2027

Diabetic lancing devices are devices used to obtain samples of blood for glucose testing using a lancet. They are widely used in the diagnostic centers, laboratories, hospitals, clinics, and homecare. Their simple design allows self-diagnostics and diabetes monitoring. There are various types of lancets used, which include disposable lancets, flake lancets, stainless steel lancets, blood lancet pen, pull top lancet, twist lancet, universal lancet, suction lancet, pressure activated lancet, push button lancet, side button lancet, fixed depth lancet, and safety lancet. The lancets have special features such as have sharp needle or blade, limited stick exposure, a safety device that protects from unwanted sticks, and disposable, self-testing, and single-use device. These lancets are available in three main categories, which include standard lancets, safety lancets, and specialty lancets. Although the standard lancets are least expensive and employ a simple design, the safety versions of lancets are more popular. Safety lancets are divided into two groups like manual lancets and automatic lancets. Manual devices require removing of the shield and stabbing the patient or pushing a button to deploy a spring activated needle. Automatic lancets activate the needle by pressure or contact with the sample area. It is effective in drawing a sufficient blood sample. It has the advantage perceiving less pain while drawing the blood sample. 

        Diabetic Lancing Devices Market scope and structure analysis:

Report Metric

Details

  Market size available for years

2019–2027

  Base year considered

2019

  Forecast period

2020–2027

  Forecast units

Value (USD)

  Segments covered

Product Type, Gauge Size, Penetration Depth, and End User

  Regions covered

North America (the US and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM) and the Middle East and Africa

  Companies covered

Abbott Laboratories, Allison Medical Inc., Artsana Group, Arkray Inc., Bayer AG, Becton Dickinson and Company, B. Braun Melsungen AG, Eli Lilly and Company, F. Hoffmann-La Roche AG, and Greiner Bio-One International GmbH

 

COVID-19 Scenario Analysis:

The demand for medical supplies is increasing to take care of infected population. Respiratory support devices such as atomizer, life-support machine, oxygen generator, and monitor are among the majorly used medical devices in primary clinical treatment. Moreover, COVID-19 has led to a huge surge in demand for medical supplies such as personal protective equipment including masks, gloves, and protective eyeglasses. With rise in number of COVID-19 cases worldwide, the need for medical supplies keeps on rising among, both from healthcare professionals and civil population for precautionary measures. Manufacturers of these products have a chance to capitalize this increased demand of medical supplies to ensure adequate and continuous supply of personal protective equipment in the market.

Top impacting factors: market scenario analysis, trends, drivers, impact analysis

Increase in the prevalence of diabetes and rise in the number of patients drive the demand for devices and products to monitor and control diabetes; thereby, leading to rise in adoption of lancets. Wide variety of applications of the devices in the blood testing can help increase the growth of the diabetic lancing devices market. Moreover, increase in the awareness about the blood glucose monitoring device and safety measures to avoid the infectious diseases can also lead to hike in the growth of the market. Rise in healthcare expenditure and easy access for treatment due to increasing number of hospitals also fuel the growth of the diabetes lancing devices market. 

However, rise in the alternative technology for blood testing and high cost of the advanced diabetes management devices are expected to restrain the growth of the diabetic lancing devices market. 

New product launches to flourish the market

In November 2019, Genteel LLC. launched its patented, painless vacuum lancing device. It allows drawing the blood from anywhere on the body without hitting the pain nerves.

In November 2020, Abbott laboratories has launched the FreeStyle Libre System in India. It is a continuous glucose monitoring technology offering the patients the choice to check glucose levels anytime and anywhere, which ultimately improves glucose control. 

Surge in the usage of the diabetic lancing devices

Increase in the incidences of diabetes and rise in awareness regarding blood glucose monitoring and safety measures to avoid these infectious diseases drive the usage of the diabetes lancing devices. Moreover, wide application of the devices in blood testing further fuels the adoption of the diabetic lancing device.   

         Key segments covered:

Segments

Sub-segments

  Product type

  • Standard Lancets
  • Safety Lancets
  • Flake Lancets
  • Fixed Depth Lancet
  • Others

  Gauge size

  • 17/18g
  • 21g
  • 23g
  • 25g
  • 28g
  • 30g
  • Others

  Penetration Depth

  • 8 mm to 1.0 mm
  • 1.1 mm to 1.5 mm
  • 1.6 mm to 2.0 mm
  • 2.1 mm to 2.5 mm
  • 2.5 mm to 3.0 mm
  • Others

  End user

  • Research and Development
  • Hospitals
  • Clinics
  • Home Care and Home Diagnostics
  • Diagnostic Centres and Medical Institutions

  Regions

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • The Middle East and Africa

 

Key benefits of the report:

  • This study presents the analytical depiction of the global diabetic lancing devices industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global diabetic lancing devices market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global diabetic lancing devices market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed global diabetic lancing devices market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the diabetic lancing devices market research report:

  • Which are the leading market players active in the diabetic lancing devices market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in taking further strategic steps? 
 
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