About Lancing Devices
The lancing device is designed to extract hygienic capillary blood for testing purposes from the side of a fingertip as well as other locations such as the palm, upper arm, and forearm, a process known as non-fingertip testing or alternative site testing. It is also most commonly used by diabetics during blood glucose monitoring. For diabetic patients, lancing is a vital aspect of their diabetes treatment. Lancets are tiny, sharp-edged instruments used to poke the skin. Using blood glucose test strips and a blood glucose monitor, the user will draw a small amount of blood from the skin and test the blood glucose level. Lancing devices are made to keep a lancet in place. These devices can be controlled by simply pressing a button. Different settings of the lancing system can be needed depending on the patient's skin type.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
There are various companies are exploring the market in new geographical regions by adopting various market growth strategies such as mergers & acquisitions, expansions, investments, new product launches and many others. The market leading players are exploring new opportunity areas through expansions and acquisitions across the globe to avail competitive advantage through combined synergies. Analyst at AMA Research estimates that European Players will contribute the maximum growth to Global Lancing Devices market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Becton Dickinson and Company (United States), Ypsomed Holding (Switzerland), Abbott Laboratories (United States), Roche Diagnostics (Switzerland), Bayer AG (Germany), F. Hoffmann-La Roche AG (Switzerland), Medtronic (United States), B. Braun Melsungen (Germany), Terumo Corporation (Japan) and ARKRAY (Japan) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are SARSTEDT AG & Co. KG (Germany), Norditalia Group S.R.L. (Italy), Vitrex Medical (Denmark) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Lancing Devices market by Type (Safety Lancets and Standard Lancets), Application (Glucose Testing, Haemoglobin Testing, Cholesterol Testing, Coagulation Testing and Others) and Region.
On the basis of geography, the market of Lancing Devices has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Usage Type, the sub-segment i.e. Reusable will boost the Lancing Devices market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Online Stores will boost the Lancing Devices market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-Use, the sub-segment i.e. Hospitals and Clinics will boost the Lancing Devices market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
High Prevalence of Infectious Diseases and Custom Vacuum Technology
Market Growth Drivers:
Growing Prevalence of Diabetes and Changing Lifestyle and Increased Spending by people on Healthcare
Challenges:
Regulatory hurdles.
Restraints:
High Cost of Devices
Opportunities:
Increased Investments in R&D and Increasing Government Initiatives to Increase Awareness Among People
Market Leaders and their expansionary development strategies
In June 2017, Roche and mySugr announced recently that the two partners have signed an agreement under which Roche acquired all shares of mySugr GmbH. Counting more than one million users globally, mySugr is one of the leading mobile diabetes platforms in the market and will become an integral part of Roche’s new patient-centered digital health services platform in diabetes care. The acquisition allows Roche to expand its leading position in the area of diabetes management.
In August 2023, Roche Diabetes Care Japan Co., announced the launch of Accu-Chek Pico, a handy and fully disposable lancet device for blood glucose monitoring to enhance diabetes care for older people living with diabetes nationwide. Accu-Chek Pico will be available in medical institutions such as hospitals and retail pharmacies across Japan.
In the USA, Section 510(k) of the Food, Drug and Cosmetic Act requires manufacturers of lancing devices to register their device with the FDA and notify their intent to market the device at least 90 days before the actual marketing of the device. This period of 90 days allows FDA to classify the device among three prescribed classes (Class I, II or III). The FDA also laid down regulations regarding the application of section 510(K) in case of advancements, or changes made to the lancing device.
Key Target Audience
Manufacturers of Lancing Devices, Suppliers of Lancing Devices, Wholesalers, Distributors and Retailers of Lancing Devices, Healthcare Companies, Medical Research Institutes and Governmental bodies
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.