Sterile Lancets Market Value Projected to Expand by 2018-2026

Sterile Lancets Market Trends Research
And Projections For 2018-2026
Sterile Lancets Market, by Product Type (Conventional Sterile Lancets
and Safety Sterile Lancet), by Application (Diabetes and Others), by
Distribution Channel (Retail Pharmacies, Hospital Pharmacies, and
Online Pharmacies), and by Geography - Size, Share, Outlook, and
Opportunity Analysis, 2018 - 2026
Coherent Market Insights added Latest Research Report titled " Sterile Lancets Market, by Product
Type (Conventional Sterile Lancets and Safety Sterile Lancet), by Application (Diabetes and Others),
by Distribution Channel (Retail Pharmacies, Hospital Pharmacies, and Online Pharmacies), and by
Geography - Size, Share, Outlook, and Opportunity Analysis, 2018 - 2026 " to its Large Report
database.
Sterile lancets are single-use disposable needles that are used for blood sampling by puncturing the
skin. Sterile lancets can be used independently as safety lancet or they can be used along with the
lancing device, which holds the lancet while pricking the skin. Skin testing for allergies can also be
performed with the help of sterile lancets.
Sterile lancets are most commonly used in diabetic patients for checking blood glucose level, however
they are also used for collecting blood samples to perform other diagnostic tests. It offers safety against
accidental injuries and contamination.
Sterile Lancets Market - Dynamics
Increasing prevalence of diabetes is one of the major factors driving growth of the sterile lancet market.
For instance, according to the International Diabetes Federation’s (IDF) Diabetes Atlas 2017, around
425 million patients were suffering from diabetes worldwide by end of 2017 and it is expected to reach
around 629 million by 2045. Moreover, over 40% people suffering from diabetes are still undiagnosed,
especially in regions such as Asia Pacific, Middle East and some part of North Africa. These patients
would require insulin therapy, which would increase the demand for sterile lancets and fuel growth of
the sterile lancets market.
According to the World Health Organization (WHO) 2012 factsheet, diabetes is one of the top three
causes of death from non-communicable diseases. Changes in lifestyle with more sedentary routine and
high calorie consumption leads to obesity. Increasing geriatric population is another factor driving the
sterile lancet market growth, as older people often require continuous glucose monitoring due to large
incidences of uncontrolled diabetes. As per 2017 IDF estimation, there were around 98 million diabetic
people worldwide above the age of 65 years in 2017, which is expected to increase to around 191
million by 2045.
Globally stringent demands for safe injection practices to collect blood is expected to propel demand
for sterile lancets, as it avoids the chances of contamination caused due to blood borne pathogens. For
instance, according to a report published by the World Health Organization (WHO) in 2014, around 1.7
million people were infected with hepatitis B virus, around 315,000 with hepatitis C virus, and around
33,800 with HIV due to unsafe injection.
Novel products offered by key players is also expected to drive growth of the sterile lancets market. For
instance, Becton, Dickinson and Company offers BD Microtainer Contact-Activated Lancet, which
allows for easier blood sampling and covers a small area at contact point, which improves visibility of
the desired puncture site activated only on pressure application to lancet.
Sterile Lancets Market - Competitive Landscape
Some of the key players operating in the sterile lancet market include Becton, Dickinson and Company,
F-Hoffmann La Roche AG, Nipro Corporation, Ypsomed AG, Sanofi, Abbott Healthcare, B. Braun
Melsungen AG, Sarstedt AG & Co., Terumo Corporation, Medtronic plc., Greiner Bio One, Jiangsu
Huida Medical Instruments Co. Ltd., Allison Medical, Inc., and A. Menarini Diagnostics
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Sterile Lancets Market - Market Taxonomy
On the basis of product type, the global sterile lancets market is segmented into:
•Conventional Sterile Lancets
•Safety Sterile Lancets
On the basis of application, the global sterile lancets market is segmented into:
•Diabetes
•Others
On the basis of distribution channel, the global sterile lancets market is segmented into:
•Retail Pharmacies
•Hospital Pharmacies
•Online Pharmacies
Sterile Lancets Market - Regional Insights
North America holds the dominant position in the global sterile lancets market. According to the
International Diabetes Federation (IDF), highest prevalence of diabetes (13% of population) is in the
U.S. North America accounts for the highest amount of expenditure on diabetes. For instance,
according to IDF report 2017, the U.S. spends around US$ 377 billion annually over diabetes disease
treatment, which accounts for around 52% of the total expenditure on diabetes worldwide.
Asia Pacific is expected to exhibit highest CAGR and create lucrative opportunities for the sterile
lancet market over the forecast period due to highest number of diabetes patients in the region.
According to IDF data, countries such as China (114.4 million) and India (72.9 million)) are amongst
the top three economies having high prevalence of diabetes. Asia pacific had over 240 million diabetes
patients in 2017. Europe is another lucrative region for the market, as it currently has the highest type1
diabetes population and the highest percentage of geriatric population.
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Coherent Market Insights added Latest Research Report titled " Sterile Lancets Market, by Product Type (Conventional Sterile Lancets and Safety Sterile Lancet), by Application (Diabetes and Others), by Distribution Channel (Retail Pharmacies, Hospital Pharmacies, and Online Pharmacies), and by Geography - Size, Share, Outlook, and Opportunity Analysis, 2018 - 2026 " to its Large Report database.