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 exhibit a CAGR of 9.8% during the forecast period (2024-2031). The global diabetic lancing device market has been witnessing significant growth owing to the rising prevalence of diabetes across the world. Diabetic lancing devices are used to prick the fingertips of diabetes patients to obtain drops of blood for monitoring their blood glucose levels multiple times a day. Modern lancing devices are ergonomically designed to cause minimum pain during sampling and come with adjustable depth settings and ultra-fine needles to ensure comfortable lancing. Various technological advancements such as lancing devices with built-in meters and smart connectivity features are further expected to drive their demand.

Market Dynamics:

The global diabetic lancing device market growth is primarily driven by the growing diabetic population worldwide. According to International Diabetes Federation, around 463 million adults were living with diabetes in 2019 and the number is projected to rise to 578 million by 2030. Since diabetic patients need to check their blood glucose levels regularly, often multiple times a day, this presents a sustained demand for lancing devices. However, reluctance among patients to prick their fingers and preference for less painful alternative methods may somewhat impede the market growth. On the positive side, developments in painless sampling technologies and introduction of user-friendly products are widening the applicability of lancing devices, thereby creating new opportunities for market players.

Key Features of the Study:

• This report provides in-depth analysis of the global diabetic lancing device market, and provides market size (USD Mn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global diabetic lancing device market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study 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.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• Global diabetic lancing device market caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global diabetic lancing device market

Detailed Segmentation-

• By Product Type:
• • Standard Lancets
  • Safety Lancets
  • Flake Lancets
  • Others
• By Gauge Size:
• • 17/18g
  • 21g
  • 23g
  • 25g
  • Others
• By End User:
• • Hospitals
  • Clinics
  • Diagnostic Centers
  • Others (Home Care Settings, etc.)
• By Region:
• • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa
• Company Profiles:
• • Genteel LLC. 
  • Abbott 
  • BD
  • Braun SE
  • 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
  • LifeScan IP Holdings, LLC.