Safety Lancet Market Information, by Type (Push Button
Safety Lancet, Pressure Activated Safety Lancet and Side Button Safety Lancet),
by End User (Hospitals & Clinics, Diagnostic Centers and Pathology
Laboratories, Home Diagnostics and Other End Users) - Global Forecast to 2023
Safety lancets are retractable needles to be
used by hospital staff for safe extraction of samples. This can lead to low
chances of needlestick injuries and prevent accidental deaths. The global
safety lancet market report by Market Research Future (MRFR) covers
developments of safety lancets as well as predictions for the period between
2017 to 2023 (forecast period). It contains a thorough analysis of micro and
macro trends, trends, and opportunities for investors.
Market Scope
The global Safety
Lancet Market is set to touch a value of USD 2,305.1 million by 2023. It
can exhibit a CAGR of 11.7% during the forecast period. It was valued at USD
1,056.2 million in 2016. Benefits of safety lancets such as avoidance of sharp
injuries, designed for single-use to prevent cross-infections, and safety of
patients. Its applications for a wide variety of tests such as cholesterol
test, blood group test, capillary blood micro sampling, and other blood-based
tests can drive its demand significantly.
The advances made in medical science and its
awareness by patients, large geriatric population, and prevalence of chronic
conditions such as diabetes, hyperlipidemia, and dyslipidemia are other growth
drivers of the market. Efforts by governments to protect healthcare workers
from injuries are likely to culminate in high demand from hospitals and
clinics. Rise in healthcare spending by nations and increasing R&D in
medical equipment will have a positive impact on the valuation of the global
safety lancet market.
Segmentation
The global safety lancet market has been
segmented by type and end user.
On the basis of type, it is segmented into
push button safety lancet, pressure activated safety lancet, and side button
safety lancet. Push button safety lancets are being procured by major
healthcare organizations for its easy application and its retraction of the
sample with a single push. They enable rapid blood collection, comfortable, and
painless.
On the basis of end user, it comprises
hospitals & clinics, diagnostic centers and pathology laboratories, home
diagnostics, and other end users. Hospitals & clinics accounted for the
biggest share of 44% in the global safety lancet market, followed by diagnostic
centers & pathology laboratories (25%), home diagnostics (18%), and others
(13%) in 2016. Home diagnostics can see massive demand from the market due to
rise in healthcare costs. Rise of self-administration of medicines in homes can
lead to demand for safety lancet kits.
Regional Analysis
Europe region captured the largest safety
lancet market globally and is expected to reach USD 1,032.7 million by 2023 due
to the growing demand and need for safe blood glucose tests in hospitals,
clinics, and diagnostics centers and the growth of insulin users. The U.K.,
France, and Germany are top contributors of the region owing to a large
geriatric populace and a well-set healthcare infrastructure. Large population
of diabetics and the need for effective diabetes management steps are likely to
augur favorably for the market. Regulations by federal agencies to ensure the
quality of devices in developing and developed economies can foster market
growth.
North America is likely to exhibit a
stupendous growth rate over the forecast period owing to the testing of
newborns being made mandatory for early diagnosis of diseases. However, the MEA
region can display a modest growth rate during the forecast period due to low
healthcare spending and poor economic strength in Africa.
Competition Outlook
Terumo Medical Corporation, Bayer AG, F.
Hoffmann-La Roche AG, HTL-STREFA S.A., Improve Medical Technology Co. Ltd,
Becton, Dickinson and Company, Sarstedt AG & Co. are key players of the
global safety lancet market.
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