GLOBAL DIABETIC LANCING DEVICE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
Global diabetic lancing device market is estimated to be valued at USD 928.2 Mn in 2024 and is expected to reach USD 1,786.6 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 9.8% from 2024 to 2031.
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The diabetic lancing device market is expected to witness considerable growth over the forecast period. The growing prevalence of diabetes worldwide is the key factor driving the market growth. As per the International Diabetes Federation, approximately 537 million adults were living with diabetes in 2021 worldwide, and the number is projected to rise to 783 million by 2045. Moreover, increasing awareness about diabetes management and regular glucose monitoring is also expected to boost demand for lancing devices in the coming years. With technological advancements, various players are focusing on developing innovative products with improved features like adjustable depth settings and painless actuation mechanisms, which is further augmenting the market expansion. However, the availability of alternative painless methods for glucose testing and high costs associated with advanced devices may hamper the market growth to some extent over the forecast years.
Rising prevalence of diabetes
The global prevalence of diabetes has been steadily increasing over the past few decades. According to the World Health Organization, the global prevalence of diabetes among adults over 18 years of age has nearly doubled. The International Diabetes Federation estimated that by 2045, approximately 629 million people, which is around 1 in 10 adults, will be living with diabetes globally. This rising burden of diabetes can primarily be attributed to the increasing trends of obesity, physical inactivity, and unhealthy diet across both developed and developing nations. As diabetes leads to significant health complications if not managed properly, with regular monitoring of blood glucose levels an absolute necessity. The increasing patient base is likely to directly contribute to the growing demand for diabetic testing and lancing devices.
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Advancements in design and featuresContinuous efforts towards innovation and advancement by leading manufacturers have transformed these devices to become more convenient, effective and painless. Some of the key developments that have enhanced user experience include adjustable depth settings to control puncture depth, softer needle tips for reduced pain, improved ergonomics for one-handed operation, automatic release of needles for safe disposal and data connectivity features. In recent years, manufacturers have also started focusing on miniaturization and greater portability to encourage compliance. These ongoing enhancements are lowering the barriers for regular self-monitoring and helping generate higher acceptance amongst patients. With manufacturers expected to further refine existing technologies and develop smart solutions integrated with digital health platforms, demand is likely to stay robust as users continuously upgrade to new devices offering enhanced features and experience.
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Market Challenges – Availability of alternative techniques for blood glucose testingOne of the key challenges faced by the global diabetic lancing device market is the availability of alternative techniques for blood glucose testing that do not require finger pricks, such as continuous glucose monitoring systems. Additionally, the pain associated with traditional lancing devices can reduce compliance for regular self-monitoring of blood glucose levels among patients. This acts as a major hindrance to the growth of the global diabetic lancing device market.
Market Opportunities – Development of User-friendly and Pain-free Lancing Devices
The development of lancing devices that are easier to use and cause less pain for patients could unlock significant growth opportunities in the global diabetic lancing device market. Currently, finger pricks for blood glucose monitoring are often cited as one of the most unpleasant parts of diabetes management. This barrier to regular self-testing negatively impacts treatment outcomes and quality of life for many patients. Addressing this pain point with new user-friendly designs could dramatically improve adherence to testing protocols.
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Insights, By Product Type: Convenience and patient safety drive demand for standard lancets
The Product Type segment is sub-segmented into standard lancets, safety lancets, flake lancets, others. Standard lancets segment is estimated to hold 61.4% of the market share in 2024 owing to their convenient design and focus on patient safety. Standard lancets are simple to use for self-lancing and require minimal training. The widespread use of standard lancets in diabetes care, due to the increasing prevalence of diabetes, and the growing awareness of diabetes' impact on public health. The market is expected to continue growing due to technological advancements, favorable reimbursement policies, increasing healthcare expenditure, and the growing adoption of point-of-care testing.
Insights, By Gauge Size: Precise gauges optimize sampling for testing accuracy
Gauge size segment is sub-segmented into 17/18g, 21g, 23g, 25g, and Others. The 17/18g segment is estimated to hold 37.4% of the market share in 2024, as it offers an ideal balance between painless lancing and sufficient blood volume for testing. Narrower gauges like 21g and 23g result in less puncture pain but may require multiple pricks to obtain the minimum blood volume for accurate readings. Wider needles increase risks of bruising and discomfort. The 17/18g gauge has been optimized through extensive clinical use to provide reliable single-stick sampling with average pain levels. This consistency suits self-testing use cases at home or in doctor facilities. It ensures testing validity on the first attempt without complications, saving time. Precise gauging thus streamlines the monitoring process for convenient diabetes management while still placing patient experience as a high priority.
Insights, By End User: Hospitals lead adoption driven by large caseloads and regulatory protocols
End User segment is sub-segmented into hospitals, clinics, diagnostic centers, and others (home care settings, etc.). Hospitals segment is estimated to hold 34.7% of the market share in 2024, due to large patient caseloads and compliance requirements. Diabetic complications often necessitate in-patient care and intensive monitoring managed by a hospital team. Centralization of resources in hospitals also facilitates management of medical waste and sharps as per biomedical norms to maintain safety. Adoption is further augmented considering hospitals serve high-risk groups such as pregnant diabetics requiring additional caution.
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North America remains the dominant region in the global diabetic lancing device market and is estimated to hold 34.6% of the market share in 2024 owing to the large diabetic population in the region. The U.S. accounts for the major share primarily due to the high healthcare expenditure and presence of many leading device manufacturers. Moreover, the reimbursement coverage for diabetes management devices in the country supports the use of lancing devices thereby augmenting market growth. Manufacturers find North America as an attractive location for distribution and export of diabetic lancing devices to other regions globally due to the strategically advantaged distribution channels and existing customer networks. These further aids their dominance in the overall market. However, pricing pressure from generic products may challenge premium product sales in the coming years.
The Asia Pacific region has been witnessing impressive growth and is emerging as the fastest growing regional market for diabetic lancing devices. The growing prevalence of diabetes, increasing healthcare expenditure, large patient pool, and rising awareness about diabetes management are some of the major factors responsible for the robust growth. Many domestic players are entering the market in countries like China, India and Japan due to low manufacturing costs and presence of raw material suppliers. These manufacturers export affordable products to other Asian as well as African countries. However, lack of stringent regulatory policies and quality oversight poses risks regarding device efficacy and safety in some Asian nations.
Global Diabetic Lancing Device Market Report Coverage
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2023 | Market Size in 2024: | US$ 928.2 Mn |
| Historical Data for: | 2019 To 2023 | Forecast Period: | 2024 To 2031 |
| Forecast Period 2024 to 2031 CAGR: | 9.8% | 2031 Value Projection: | US$ 1,786.6 Mn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
Genteel LLC., Abbott, BD, Braun SE, F. Hoffmann-La Roche Ltd, Greiner Bio-One International GmbH, Eli Lilly and Company, Allison Medical, Inc., Diabetyk24 z o.o., i-SENS, Inc., Nipro Corporation, Medisave UK Ltd, Home Health Ltd, Medtronic, ARKRAY, Inc., Owen Mumford, and LifeScan IP Holdings, LLC. |
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| Restraints & Challenges: |
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*Definition: Diabetes lancing devices are hand-held instruments that contain a thin needle which is used to prick the skin, typically on the fingertips, to draw a small blood sample for testing. They automate the finger-pricking process, reducing pain for the user compared to manual lancets. The devices produce a consistently shallow penetration to obtain an adequate blood sample.
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