United States Lancets Market to Grow at a CAGR of 9% During 2024-2032, Aided by the Growing Ageing Population and Rising Prevalence of Homecare

A lancet is a small, sharp needle or blade used to puncture the skin and obtain blood samples. Lancets are similar to scalpel-style lancets but have a double-edged blade and a pointed end. The United States lancets market is driven by the rising demand for easy to use products for home care. With increasing chronic diseases coupled with the growing geriatric population, the requirement for lancets has increased.

The United States stands as a prominent regional market for lancets worldwide due to its sizable patient population and favourable reimbursement policies. Continuous product introductions and escalating healthcare spending have bolstered the market expansion. Statistics from The International Diabetes Federation indicate that 43% of global diabetes-related health spending transpires in this region. Heightened awareness of self-care and the expense of hospital diagnostics have additionally fueled the demand for lancets. The market growth is further supported by the substantial presence of key industry players within the United States.

Fig: Americans with diabetes, in 1,000s

 
In September 2023, Tasso, Inc. received CE Mark certification for its Tasso+™ device, which collects whole liquid blood samples through a virtually pain-free blood lancet, making it easy for patients to use. Tasso, Inc. has received CE Mark certification for its Tasso+™ device, which collects whole liquid blood samples through a virtually pain-free blood lancet, making it easy for patients to use.

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Market Breakup by Product Type, Application, and End Use:

• The market is segmented based on product type into standard lancets, safety lancets, and vacuum lancets.

• By application, the market is segmented into haemoglobin testing and coagulation testing, among others. 

• Based on end use, the market can be divided into hospitals and clinics, blood banks, home care settings, and others.

Key Findings of the Report:

• The increasing prevalence of chronic diseases, coupled with a growing ageing population, is driving the demand for lancets as a tool for self-health monitoring.

• With the escalating incidence of diabetes and a heightened awareness of self-care, there is a growing preference for home-based health monitoring, contributing to the expansion of the lancet market.

• Rising government expenditure, particularly in healthcare, and rapid technological advancements, especially in diabetes management, are significant drivers of the market.

• Companies are focusing on developing more efficient blood sampling methods, while the increasing trend of home cholesterol testing kits, driven by preventative healthcare awareness, is further fueling the market expansion.

Key Offerings of the Report:

• The EMR report gives an overview of the United States lancets market for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the product type, application, and end use of lancets.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the United States lancets market are Abbott Laboratories, Becton, Dickinson and Company, Medline Industries Inc., ARKRAY USA, Inc., Roche Diagnostics Ltd., and Terumo Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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