The Global Lancet Market is growing rapidly because of the rising prevalence of diabetes and growing number of blood borne diseases across the globe. The Global Lancet Market is expected to reach USD 2,882.6 million in 2022 and is expected to grow with a CAGR of approximately 11.3% during the forecast period.
Globally, Lancet are being utilized by patients who are affected by endocrine related complications, cardiovascular issues, and many others. Lancet are being used for diabetes/glucose test, tests in infants, heel-stick screening tests, as well as for scarred emergency patients or severely burned patients. The global lancet market is growing at an exponential rate and it is expected to grow at a CAGR of 11.3% during 2016 to 2022.
The increasing prevalence of diabetes and growing incidence number of contagious and non-contagious diseases has been the major factor for influencing the growth of the market. Incidence of contagious diseases is increasing rapidly on a global level. According to the WHO, it has been calculated that, infectious diseases like plaque which is also known as black death has an estimated 50 million deaths in the 14th century, this infectious disease can be a serious disease if not treated, this disease has a case fatality ratio of around 30%-60%, as of 2013 there were 783 cases worldwide which includes 126 deaths.
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The global lancet market appears to be oligopolistic owing to the presence of large players active in the regional market. The market is also characterized by a reasonable degree of brand loyalty where establishing a brand name is difficult for newcomers. However, the cost involved in manufacturing setup is low to medium which discreetly comfort the new entrants to enter in the market easily. Developments in the medical device industry are made to simplify the diagnosis, prevention, and treatment of various diseases. One of such device is lancet, which is capturing a huge market share due to its application. Safety Lancet and personal Lancet being the two major types of the Lancet are dominating the global lancet market.
Key Players – Lancet Market
Some of the Key Players in This Market Are:
- F. Hoffmann-La Roche AG,
- Dickinson and Company,
- Greiner Bio One International GmbH,
- Improve Medical Technology Co. Ltd,
- Terumo Medical Corporation,
- Bayer Cropscience Limited,
- HTL-STREFA S.A,
- Sarstedt AG & Co
Global Lancet Market – Competitive Analysis
Many key players involved in this market are keen in introducing new advanced safety Lancet for the treatment of various contagious diseases. HTL-STREFA S.A. accounted for major market share of global lancet market, with more than 35% of market share. The large share of the company is attributed to the high demand for safety lancet globally. Moreover, this company has a strong sales and distribution network and this company also provides after sales services and help which play a major role in the satisfaction of the customers. F. Hoffmann-La Roche AG accounts for approximately 22% which can be attributed to their product the ACCU-CHEK which is one of the safety Lancet having high demand in the market.
June, 2017: F. Hoffmann-La Roche AG received European approval of Avastin Drug in combination with Tarceva for cancer patients with a specific type advance lung cancer.
January, 2017: Catalent Inc., a company involved in biologics announced its research collaboration with Roche on Smartag(TM) technology. Catalent claims Roche will pay Catalent an up-front fee of $1 million. Roche to provide additional research funding during the initial phase of the collaboration between these two companies.
Segments – Lancet Market
Global Lancet market has been segmented on the basis of types which comprises of personal, safety and others. On the basis of end users which consists of hospitals & clinics, diagnostic centers and pathology laboratories, home diagnostics and others.
Regional Analysis – Lancet Market
The Global Lancet Market, based on region, is divided into Europe, the Americas, Asia-Pacific, and the Middle East and Africa.
Europe held the largest share of the global lancet market. The Europe market demonstrated substantial growth in the market due to the growing demand and need for safe blood glucose tests in hospitals, clinics, diagnostics centers, etc. and the growth in insulin users. The Americas held a substantial share in the global lancet market owing to the rise in the prevalence of diabetes and the increasing need for a diabetes diagnosis. Asia-Pacific was the fastest growing region in the global market and accounted for 19.1% market share in the global market in 2018. The growth in this region is attributed to the low manufacturing cost and low labor cost in the region. Moreover, the Middle East and Africa showed the least growth owing to low per capita income and lack of adequate healthcare spending.
LIST OF TABLES
TABLE 1 GLOBAL LANCET MARKET, BY TYPE, 2015–2024 (USD MILLION) 30
TABLE 2 GLOBAL LANCET MARKET FOR SAFETY LANCET, BY REGION, 2015–2024 (USD MILLION) 31
TABLE 3 GLOBAL LANCET MARKET FOR SAFETY LANCET, BY TYPE, 2015–2024 (USD MILLION) 31
TABLE 4 GLOBAL LANCET MARKET FOR PERSONAL LANCET, BY REGION, 2015–2024 (USD MILLION) 32
TABLE 5 GLOBAL LANCET MARKET, BY END USER, 2015–2024 (USD MILLION) 34
TABLE 6 GLOBAL LANCET MARKET FOR HOSPITALS & CLINICS, BY REGION, 2015–2024 (USD MILLION) 35
TABLE 7 GLOBAL LANCET MARKET FOR DIAGNOSTIC CENTERS AND PATHOLOGY LABORATORIES, BY REGION, 2015–2024 (USD MILLION) 36
TABLE 8 GLOBAL LANCET MARKET FOR HOME DIAGNOSTICS, BY REGION, 2015–2024 (USD MILLION) 37
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LIST OF FIGURES
FIGURE 1 FDA TIME LINE FOR LANCETS 14
FIGURE 2 MARKET SYNOPSIS 15
FIGURE 3 MARKET ATTRACTIVENESS ANALYSIS: GLOBAL LANCET MARKET 16
FIGURE 4 GLOBAL LANCET SHARE, BY TYPE, 2018 (%) 16
FIGURE 5 GLOBAL LANCET MARKET, BY TYPE, 2016–2024 (USD MILLION) 17
FIGURE 6 GLOBAL LANCET MARKET SHARE, BY END USER, 2018 (%) 17
FIGURE 7 GLOBAL LANCET MARKET, BY END USER, 2016–2024 (USD MILLION) 17
FIGURE 8 GLOBAL LANCET MARKET: MARKET STRUCTURE 18
FIGURE 9 RESEARCH PROCESS OF MRFR 19
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