The Global Blood Lancet Market size is projected to grow from USD 1.8 billion in 2021 to USD 2.5 billion by 2028, at a CAGR of 7.1%. The growth of the market can be attributed to factors such as technological advancements and increased demand for point-of-care diagnostic testing devices globally.
A Blood Lancet is a medical device that punctures the skin to extract small amounts of blood. Blood may be taken for testing or analysis, such as checking blood glucose levels in diabetics, determining pregnancy by measuring hormone/antibody levels in the woman's urine, and DNA material from people who are accused or convicted of murder but whose guilt must be determined through DNA fingerprinting. A common use today is taking a drop of capillary whole-blood sample onto an automated analyzer which provides clinically relevant laboratory test results within minutes. The process requires only a very little volume of blood; it does not require any stitching when done properly - whereupon cosmetic treatment can take place immediately afterwards if required: this saves time and money.
On the basis of Type, the market is segmented into 1.5 mm, 1.8 mm, 2.0 mm, 2.2 mm, and Others.
On the basis of Application, the market is segmented into Hospital, Clinic and Others. The hospital type blood lancet can be used in patients with an acute need for frequent sampling to monitor their hematocrit levels or those who are undergoing a procedure such as bone marrow transplantation where there are long periods between sessions; it may also be applied to pregnant women during labor.
Clinicians use this device when they require more control over hemoglobin concentration than that achievable with finger stick whole-blood testing within a clinic setting – e.g., inpatient wards and operating rooms that have limited access to laboratory facilities. The product is designed specifically for healthcare professionals so that they can collect samples quickly without pain from needle sticks for the patient.
On the basis of Region, the market is segmented into Asia Pacific, North America, Latin America, and Europe.
North America has a significant market penetration of blood lancet devices as compared to other regions. The growth in this region is attributed to a rapidly aging population with increasing chronic diseases such as diabetes mellitus which require frequent testing for routine monitoring. The European market size is expected to show moderate CAGR during the forecast period owing to evolving technologies that make it easy for patients who are using glucose monitors at home. Latin American countries have limited awareness about these products; there should be an increase in patient education through media campaigns or social platforms like YouTube channels etc., besides educating doctors so as to create demand for these new medical instruments. Asia-Pacific countries will see considerable improvements in health care infrastructure which will play a key role in increasing the demand for blood lancets and other medical equipment.
The market growth can be attributed to factors such as the increasing number of diabetes patients, which is expected to increase blood glucose monitoring. Notably, countries like China and India are home to a significant share of the diabetic population; this will in turn boost the demand for blood lancets. Moreover, rising awareness among people about new diagnosis techniques using these products is also driving their adoption by clinics and hospitals across regions. In addition, technological advancements have made it easier for manufacturers to manufacture finer size needles that offer precise readings at the drop of a hat.
High cost of manufacturing blood lancets: The major challenge for the manufacturers is to maintain a competitive pricing structure in order to provide appropriate profitability margins. Moreover, stringent regulatory standards have increased production costs and subsequently lowered profit margins with regard to resulting products.
Lack of awareness about usage among patients: This has made it difficult for many clinics, hospitals, etc., as they are unable to convince their patient base that these devices can help save time and money while also being more accurate than other techniques like finger pricks or urine tests. As such, this will create an obstacle for market growth going forward because without widespread adoption by medical practitioners themselves the use of these products won't become popularized on a large scale overnight.
Up Market Research published a new report titled “Blood Lancet Market research report which is segmented by Types (1.5 mm, 1.8 mm, 2.0 mm, 2.2 mm, Others), By Applications (Hospital, Clinic, Others), By Players/Companies Becton Dickinson, Improve Medical, Terumo, Sarstedt, Socorex, Graham Field, Paramount Surgimed Ltd, Shangdong Lianfa Medical, PL Medical, Changzhou Kealor, Owen Mumford, JMI Syringes, Amkay Products Pvt, F.L. Medical”.
|Report Attributes||Report Details|
|Report Title||Blood Lancet Market Research Report|
|By Type||1.5 mm, 1.8 mm, 2.0 mm, 2.2 mm, Others|
|By Application||Hospital, Clinic, Others|
|By Companies||Becton Dickinson, Improve Medical, Terumo, Sarstedt, Socorex, Graham Field, Paramount Surgimed Ltd, Shangdong Lianfa Medical, PL Medical, Changzhou Kealor, Owen Mumford, JMI Syringes, Amkay Products Pvt, F.L. Medical|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||243|
|Number of Tables & Figures||171|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type 1.5 mm, 1.8 mm, 2.0 mm, 2.2 mm, Others and By Application Hospital, Clinic, Others.
Some of the companies that are profiled in this report are:
Blood Lancet Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Blood Lancet Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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