Safety Lancet Market

Safety lancets are one of the widely used alternative device to obtain the blood samples. Lancets are receiving global recognition and acceptance due to its several convenient characteristics which gives them an edge over the traditional methods for vein puncture. Some of important features of the safety lancets are painless vein puncture, easy handling and safety while using. The major applications of the safety lancets are capillary blood micro sampling, cholesterol test, HBO and HIV screening test, blood group test, coagulation tests, allergy tests and many other blood based tests.

Safety lancets are introduced in 1994 by Medlance with the initiation button and T-shape cover over it. They are useful to avoid needle-stick injuries and infections. In United States alone in 2014, around 2.2 million people had chronic hepatitis B virus infection. (CDC, Viral Hepatitis - Hepatitis B Information, 2016). To reduce the prevalence of such blood borne infections, safety lancets are very helpful. Safety lancets can be further classified by their structural specifications such as Push Button Safety Lancets, Pressure Activated Safety Lancets and Side Button Safety Lancets. Companies like HTL-STREFA S.A. Medline Industries, Inc. and Sarstedt AG & Co are some of the major manufacturers of safety lancets.

Increasing awareness of Safety Lancet:

Rising prevalence of diabetic population, increased awareness for blood glucose monitoring device (homecare) and increased awareness of safety measures in order to avoid the infectious diseases are some of the significant factors of the increased awareness and use of lancets.

Production of Safety Lancet:

A large number of safety lancet manufacturers are from developing Asian countries such as China, India, Japan and Republic of Korea mainly because of the low labour cost and low R&D cost. China being one of the highly populated and technologically advanced developing countries, has a major number of lancets manufacturers. Some of the renowned Chinese Safety Lancet manufacturers are Guangzhou Improve Medical Instruments Co, Huang and KDL China. HTL Strefa and Sarstedt are two European companies which have marked their presence on the global level as a major manufacturer of Safety Lancets in the world.

The market for safety lancets is growing rapidly. Increasing prevalence of needle-stick injuries and rising awareness of safety lancet applications are the driving factors of the safety lancet market. The market for safety lancets by type is segmented into Push Button Safety Lancets, Pressure Activated Safety Lancets and Side Button Safety Lancets, in which Push Button Safety Lancets accounts for the largest market share in 2016 as there is a growing need for safe blood glucose test in hospitals and the growth of insulin users. Push Button Safety Lancets is projected to grow at the fastest CAGR of 12.28% during the forecast period from 2017-2023.

Additionally, the market is further segmented on the basis of end user and is bifurcated into Hospitals & Clinics, Diagnostic Canters and Pathology Laboratories, Home Diagnostics and others. Out of which hospital & clinics holds the largest market share among the all the end users. Diagnostic canters and pathology laboratories is the second largest segment in Global Safety lancets market, by End User as growing prevalence of diabetes around the globe, improving healthcare regulations for medical devices is driving the growth of the safety lancet market by end users. The global safety lancets market by end user is expected to reach USD 2,305.1 million in the year 2023 from USD 1,056.2 million 2016.

On the basis of region the market is segmented into North America, Europe, Asia-Pacific and Middle East and Africa. Europe region captured the largest market globally is expected to USD 1,032.7 million by 2023 as the growing demand and need for safe blood glucose tests in hospitals, clinics, diagnostics centers etc. and the growth of insulin users. In addition the European market is supported by increasing regulatory and safety standards in developed and developing markets. Asia-Pacific region is projected to be the fastest growing at a CAGR of 12.40% during the forecast period from 2017-2023.

The market in this report would cover market based on safety lancet types, end users and regions. The global market of lancets is dominated by several major players such as HTL-STREFA S.A, BD, Bayer, LifeScan, KDL China, Medline, Sarstedt and others.