Diabetic Lancing Device Market - Size & Upcoming Industry Trends (2024-2032)

Diabetic Lancing Device Market Synopsis:

Diabetic Lancing Device Market Size Was Valued at USD 1.7 Billion in 2023, and is Projected to Reach USD 5.9 Billion by 2032, Growing at a CAGR of 14.92% From 2024-2032.

Diabetic Lancing Device Market means global marketplace for medical devices capable of pricking the skin for the purpose of obtaining a small blood sample to be used for diabetes tests. It enables diabetes patients to reliably measure blood glucose levels at any time and place, without formal health care intervention, which leads to better disease control, and thus a decrease in complications. Combined with the glucometers, lancing devices are essential for routine monitoring and are penetrating a broad range of markets in home care and clinical medicine.

The diabetic lancing device market has evolved greatly over the years because of the increasing rate of diabetes across the globe and the convenience afforded by a portable monitor. Since diabetes is classified as one of the chronic diseases in the modern world, it has become more important than ever to utilize correct and groundbreaking testing equipment. Lancing devices are used by diabetic patients to manage their condition using a small spring on the needle or lancet that pricks the skin.

The market is conditioned by such factors as innovative technologies in developing devices that meet safety and comfort requirements and development of minimally invasive approaches. Adjustability of the depth of the sampling to meet specific needs, innovation in design for better handling, and how manufacturers have come up with safety lancets to guard against contamination and accidental pricking. Further, patient-centred care, inclusive with worldwide endeavours to raise awareness and control diabetes, provides further impetus to demand these devices internationally.

Diabetic Lancing Device Market Trend Analysis:

Rising Popularity of Safety Lancets

• Over the past years, there has been increase in demand of safety lancets in the market for the diabetic lancing device. These lancets are intended to be used as single-use disposable lancets equipped with a retraction mechanism once used on a patient thereby preventing cases of accidental needle sticks or cross contaminations. Patients and healthcare facilities are now shifting towards these single-use, retractable lancets since it greatly decreases infections from patient-to-patient especially in areas wherein many patients are tested on a daily basis.
• This trend has been prompted by endorsing guidelines by regulatory authorities as well as guidelines on the utilization of safer devices that are single use in nature as a way of protecting patient and the health care workers. The use of safety lancets can be widely practiced mainly in hospitals, clinics, and other such places, which lay down great importance on infection control. It is also growing at a convenient pace at home-care situations where users require safe and efficient lancing devices with fewer risks involved.

Expansion in Emerging Markets

• They also add that there is an indication of tremendous business prospects for the diabetic lancing device in the emerging markets. With constantly advancing healthcare systems in countries like the Asia-Pacific region, Latin America, and some parts of Africa, usage of diabetic care products that include lancing devices is becoming easier. Steady rise in incidences of diabetes across these regions has created market demand for durable low-priced self-testing equipments.
• Also, more consumers in many emerging markets are losing their disposable income and are spending more on healthcare leading to more adoption of diabetic monitoring solutions. In order to capture this growth opportunity, several key players are diversifying their distribution networks and introducing low cost hi-technology lancing devices in the respective countries. This trend is anticipated to play a major role in the growth of the market in the next few years as awareness and diagnosing instance of diabetes increase around the world.

Diabetic Lancing Device Market Segment Analysis:

Diabetic Lancing Device Market is Segmented based on Type, Gauge, Application, End User, and Region

By Type, Standard Lancets segment is expected to dominate the market during the forecast period

• Segmentation by type where the diabetic lancing device market can be classified as standard lancets, safety lancets, flake lancets and other’s. Standard lancets, regular lancet, simple lancet or normal lancet are the most widely used mostly due to their cheap and easy to use. But they may not come with features which are available in other developed devices like the needle retraction or depth adjustment and this makes them a little undesirable in some care delivery settings.
• Safety lancets have on the other hand recorded high demand growth due to the more enhanced safety especially to people in the working fronts whereby infection control is highly considered. These onetime use items minimize transmission chances and infections from needle pricking and contamination, which makes this Ulitem and other similar products very suitable for these professionals and home use in general. Flake lancets and other such types are also present in the market but on the whole, are employed for certain specifications or kinds of patients.

By Application, Glucose Testing segment expected to held the largest share

• Most commonly used lancets are used for glucose testing, though they can be used also for hemoglobin testing and in any other testing procedures. The most popular application of glucose testing is probably the monitoring of blood sugar levels in diabetic patients, who number millions across the world. Lancing devices used for glucometry is most required among Type 1 and insulin dependent Type 2 diabetes suffering patients who need to test their glucose levels regularly for dose determination of insulin.
• Besides glucose testing, lancing devices are sometimes used in testing of hemoglobin in conditions such as anaemia. However this application is not very common still it shows the other uses of lancing devices other than diabetes. Other testing applications are now appearing, particularly in multifunctional devices that can measure other aspects of health, thus expanding the market.

Diabetic Lancing Device Market Regional Insights:

North America is Expected to Dominate the Market Over the Forecast period

• North America occupies the leading position in the diabetic lancing device market due to a high level of healthcare development, a high prevalence of diabetes, and popularization of self-monitoring devices. Due to many individuals with diabetes and a high level of concern on one’s blood glucose level prevalent in the region, the lancing devices have been in high demand in the United States and Canada. Also, North American emphasis on patients’ safety and infection control encourages use of safety lancets in clinical environment.
• Supporting this is another factor that is the relatively high levels of expenditure on research and development in the medical devices industry in the North America region. Most of the diabetic lancing device market players are from United States where diabetic population has access to new technologies in diabetic management. Moreover, insurance policies for diabetic care products also create further assistance for these devices, and help to contribute to market growth in the region.

Active Key Players in the Diabetic Lancing Device Market

• Becton, Dickinson and Company (US)
• Abbott Laboratories (US)
• Terumo Corporation (Japan)
• Roche Diagnostics (Switzerland)
• ARKRAY, Inc. (Japan)
• HTL-Strefa S.A. (Poland)
• Bayer AG (Germany)
• Ypsomed AG (Switzerland)
• Sanofi S.A. (France)
• Sarstedt AG & Co. (Germany)
• Owen Mumford Ltd. (UK)
• Nipro Corporation (Japan)
• Other Active Players

Key Industry Developments in the Diabetic Lancing Device Market:

• In August 2023, Hoffmann-La Roche Ltd, a pharmaceutical company, announced that it had launched 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.

Chapter 1: Introduction
 1.1 Scope and Coverage

Chapter 2:Executive Summary

Chapter 3: Market Landscape
 3.1 Market Dynamics
  3.1.1 Drivers
  3.1.2 Restraints
  3.1.3 Opportunities
  3.1.4 Challenges
 3.2 Market Trend Analysis
 3.3 PESTLE Analysis
 3.4 Porter's Five Forces Analysis
 3.5 Industry Value Chain Analysis
 3.6 Ecosystem
 3.7 Regulatory Landscape
 3.8 Price Trend Analysis
 3.9 Patent Analysis
 3.10 Technology Evolution
 3.11 Investment Pockets
 3.12 Import-Export Analysis

Chapter 4: Diabetic Lancing Device Market by Type
 4.1 Diabetic Lancing Device Market Snapshot and Growth Engine
 4.2 Diabetic Lancing Device Market Overview
 4.3 Standard Lancets
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 Standard Lancets: Geographic Segmentation Analysis
 4.4 Safety Lancets
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4 Safety Lancets: Geographic Segmentation Analysis
 4.5 Flake Lancets
  4.5.1 Introduction and Market Overview
  4.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.5.3 Key Market Trends, Growth Factors and Opportunities
  4.5.4 Flake Lancets: Geographic Segmentation Analysis
 4.6 Others
  4.6.1 Introduction and Market Overview
  4.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.6.3 Key Market Trends, Growth Factors and Opportunities
  4.6.4 Others: Geographic Segmentation Analysis

Chapter 5: Diabetic Lancing Device Market by Gauge
 5.1 Diabetic Lancing Device Market Snapshot and Growth Engine
 5.2 Diabetic Lancing Device Market Overview
 5.3 17 Gauge
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 17 Gauge: Geographic Segmentation Analysis
 5.4 18 Gauge
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 18 Gauge: Geographic Segmentation Analysis
 5.5 21 Gauge
  5.5.1 Introduction and Market Overview
  5.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.5.3 Key Market Trends, Growth Factors and Opportunities
  5.5.4 21 Gauge: Geographic Segmentation Analysis
 5.6 23 Gauge
  5.6.1 Introduction and Market Overview
  5.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.6.3 Key Market Trends, Growth Factors and Opportunities
  5.6.4 23 Gauge: Geographic Segmentation Analysis
 5.7 25 Gauge
  5.7.1 Introduction and Market Overview
  5.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.7.3 Key Market Trends, Growth Factors and Opportunities
  5.7.4 25 Gauge: Geographic Segmentation Analysis
 5.8 28 Gauge
  5.8.1 Introduction and Market Overview
  5.8.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.8.3 Key Market Trends, Growth Factors and Opportunities
  5.8.4 28 Gauge: Geographic Segmentation Analysis
 5.9 30 Gauge
  5.9.1 Introduction and Market Overview
  5.9.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.9.3 Key Market Trends, Growth Factors and Opportunities
  5.9.4 30 Gauge: Geographic Segmentation Analysis
 5.10 Others
  5.10.1 Introduction and Market Overview
  5.10.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.10.3 Key Market Trends, Growth Factors and Opportunities
  5.10.4 Others: Geographic Segmentation Analysis

Chapter 6: Diabetic Lancing Device Market by Application
 6.1 Diabetic Lancing Device Market Snapshot and Growth Engine
 6.2 Diabetic Lancing Device Market Overview
 6.3 Glucose Testing
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 Glucose Testing: Geographic Segmentation Analysis
 6.4 Haemoglobin Testing
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 Haemoglobin Testing: Geographic Segmentation Analysis
 6.5 Others
  6.5.1 Introduction and Market Overview
  6.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.5.3 Key Market Trends, Growth Factors and Opportunities
  6.5.4 Others: Geographic Segmentation Analysis

Chapter 7: Diabetic Lancing Device Market by End User
 7.1 Diabetic Lancing Device Market Snapshot and Growth Engine
 7.2 Diabetic Lancing Device Market Overview
 7.3 Hospitals
  7.3.1 Introduction and Market Overview
  7.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  7.3.3 Key Market Trends, Growth Factors and Opportunities
  7.3.4 Hospitals: Geographic Segmentation Analysis
 7.4 Clinics
  7.4.1 Introduction and Market Overview
  7.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  7.4.3 Key Market Trends, Growth Factors and Opportunities
  7.4.4 Clinics: Geographic Segmentation Analysis
 7.5 Home Care
  7.5.1 Introduction and Market Overview
  7.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  7.5.3 Key Market Trends, Growth Factors and Opportunities
  7.5.4 Home Care: Geographic Segmentation Analysis
 7.6 Diagnostic Centers
  7.6.1 Introduction and Market Overview
  7.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  7.6.3 Key Market Trends, Growth Factors and Opportunities
  7.6.4 Diagnostic Centers: Geographic Segmentation Analysis

Chapter 8: Company Profiles and Competitive Analysis
 8.1 Competitive Landscape
  8.1.1 Competitive Benchmarking
  8.1.2 Diabetic Lancing Device Market Share by Manufacturer (2023)
  8.1.3 Industry BCG Matrix
  8.1.4 Heat Map Analysis
  8.1.5 Mergers and Acquisitions  
 8.2 BECTON
  8.2.1 Company Overview
  8.2.2 Key Executives
  8.2.3 Company Snapshot
  8.2.4 Role of the Company in the Market
  8.2.5 Sustainability and Social Responsibility
  8.2.6 Operating Business Segments
  8.2.7 Product Portfolio
  8.2.8 Business Performance
  8.2.9 Key Strategic Moves and Recent Developments
  8.2.10 SWOT Analysis
 8.3 DICKINSON AND COMPANY (US)
 8.4 ABBOTT LABORATORIES (US)
 8.5 TERUMO CORPORATION (JAPAN)
 8.6 ROCHE DIAGNOSTICS (SWITZERLAND)
 8.7 ARKRAY INC. (JAPAN)
 8.8 HTL-STREFA S.A. (POLAND)
 8.9 BAYER AG (GERMANY)
 8.10 YPSOMED AG (SWITZERLAND)
 8.11 SANOFI S.A. (FRANCE)
 8.12 SARSTEDT AG & CO. (GERMANY)
 8.13 OWEN MUMFORD LTD. (UK)
 8.14 NIPRO CORPORATION (JAPAN)
 8.15 OTHER ACTIVE PLAYERS

Chapter 9: Global Diabetic Lancing Device Market By Region
 9.1 Overview
 9.2. North America Diabetic Lancing Device Market
  9.2.1 Key Market Trends, Growth Factors and Opportunities
  9.2.2 Top Key Companies
  9.2.3 Historic and Forecasted Market Size by Segments
  9.2.4 Historic and Forecasted Market Size By Type
  9.2.4.1 Standard Lancets
  9.2.4.2 Safety Lancets
  9.2.4.3 Flake Lancets
  9.2.4.4 Others
  9.2.5 Historic and Forecasted Market Size By Gauge
  9.2.5.1 17 Gauge
  9.2.5.2 18 Gauge
  9.2.5.3 21 Gauge
  9.2.5.4 23 Gauge
  9.2.5.5 25 Gauge
  9.2.5.6 28 Gauge
  9.2.5.7 30 Gauge
  9.2.5.8 Others
  9.2.6 Historic and Forecasted Market Size By Application
  9.2.6.1 Glucose Testing
  9.2.6.2 Haemoglobin Testing
  9.2.6.3 Others
  9.2.7 Historic and Forecasted Market Size By End User
  9.2.7.1 Hospitals
  9.2.7.2 Clinics
  9.2.7.3 Home Care
  9.2.7.4 Diagnostic Centers
  9.2.8 Historic and Forecast Market Size by Country
  9.2.8.1 US
  9.2.8.2 Canada
  9.2.8.3 Mexico
 9.3. Eastern Europe Diabetic Lancing Device Market
  9.3.1 Key Market Trends, Growth Factors and Opportunities
  9.3.2 Top Key Companies
  9.3.3 Historic and Forecasted Market Size by Segments
  9.3.4 Historic and Forecasted Market Size By Type
  9.3.4.1 Standard Lancets
  9.3.4.2 Safety Lancets
  9.3.4.3 Flake Lancets
  9.3.4.4 Others
  9.3.5 Historic and Forecasted Market Size By Gauge
  9.3.5.1 17 Gauge
  9.3.5.2 18 Gauge
  9.3.5.3 21 Gauge
  9.3.5.4 23 Gauge
  9.3.5.5 25 Gauge
  9.3.5.6 28 Gauge
  9.3.5.7 30 Gauge
  9.3.5.8 Others
  9.3.6 Historic and Forecasted Market Size By Application
  9.3.6.1 Glucose Testing
  9.3.6.2 Haemoglobin Testing
  9.3.6.3 Others
  9.3.7 Historic and Forecasted Market Size By End User
  9.3.7.1 Hospitals
  9.3.7.2 Clinics
  9.3.7.3 Home Care
  9.3.7.4 Diagnostic Centers
  9.3.8 Historic and Forecast Market Size by Country
  9.3.8.1 Russia
  9.3.8.2 Bulgaria
  9.3.8.3 The Czech Republic
  9.3.8.4 Hungary
  9.3.8.5 Poland
  9.3.8.6 Romania
  9.3.8.7 Rest of Eastern Europe
 9.4. Western Europe Diabetic Lancing Device Market
  9.4.1 Key Market Trends, Growth Factors and Opportunities
  9.4.2 Top Key Companies
  9.4.3 Historic and Forecasted Market Size by Segments
  9.4.4 Historic and Forecasted Market Size By Type
  9.4.4.1 Standard Lancets
  9.4.4.2 Safety Lancets
  9.4.4.3 Flake Lancets
  9.4.4.4 Others
  9.4.5 Historic and Forecasted Market Size By Gauge
  9.4.5.1 17 Gauge
  9.4.5.2 18 Gauge
  9.4.5.3 21 Gauge
  9.4.5.4 23 Gauge
  9.4.5.5 25 Gauge
  9.4.5.6 28 Gauge
  9.4.5.7 30 Gauge
  9.4.5.8 Others
  9.4.6 Historic and Forecasted Market Size By Application
  9.4.6.1 Glucose Testing
  9.4.6.2 Haemoglobin Testing
  9.4.6.3 Others
  9.4.7 Historic and Forecasted Market Size By End User
  9.4.7.1 Hospitals
  9.4.7.2 Clinics
  9.4.7.3 Home Care
  9.4.7.4 Diagnostic Centers
  9.4.8 Historic and Forecast Market Size by Country
  9.4.8.1 Germany
  9.4.8.2 UK
  9.4.8.3 France
  9.4.8.4 The Netherlands
  9.4.8.5 Italy
  9.4.8.6 Spain
  9.4.8.7 Rest of Western Europe
 9.5. Asia Pacific Diabetic Lancing Device Market
  9.5.1 Key Market Trends, Growth Factors and Opportunities
  9.5.2 Top Key Companies
  9.5.3 Historic and Forecasted Market Size by Segments
  9.5.4 Historic and Forecasted Market Size By Type
  9.5.4.1 Standard Lancets
  9.5.4.2 Safety Lancets
  9.5.4.3 Flake Lancets
  9.5.4.4 Others
  9.5.5 Historic and Forecasted Market Size By Gauge
  9.5.5.1 17 Gauge
  9.5.5.2 18 Gauge
  9.5.5.3 21 Gauge
  9.5.5.4 23 Gauge
  9.5.5.5 25 Gauge
  9.5.5.6 28 Gauge
  9.5.5.7 30 Gauge
  9.5.5.8 Others
  9.5.6 Historic and Forecasted Market Size By Application
  9.5.6.1 Glucose Testing
  9.5.6.2 Haemoglobin Testing
  9.5.6.3 Others
  9.5.7 Historic and Forecasted Market Size By End User
  9.5.7.1 Hospitals
  9.5.7.2 Clinics
  9.5.7.3 Home Care
  9.5.7.4 Diagnostic Centers
  9.5.8 Historic and Forecast Market Size by Country
  9.5.8.1 China
  9.5.8.2 India
  9.5.8.3 Japan
  9.5.8.4 South Korea
  9.5.8.5 Malaysia
  9.5.8.6 Thailand
  9.5.8.7 Vietnam
  9.5.8.8 The Philippines
  9.5.8.9 Australia
  9.5.8.10 New Zealand
  9.5.8.11 Rest of APAC
 9.6. Middle East & Africa Diabetic Lancing Device Market
  9.6.1 Key Market Trends, Growth Factors and Opportunities
  9.6.2 Top Key Companies
  9.6.3 Historic and Forecasted Market Size by Segments
  9.6.4 Historic and Forecasted Market Size By Type
  9.6.4.1 Standard Lancets
  9.6.4.2 Safety Lancets
  9.6.4.3 Flake Lancets
  9.6.4.4 Others
  9.6.5 Historic and Forecasted Market Size By Gauge
  9.6.5.1 17 Gauge
  9.6.5.2 18 Gauge
  9.6.5.3 21 Gauge
  9.6.5.4 23 Gauge
  9.6.5.5 25 Gauge
  9.6.5.6 28 Gauge
  9.6.5.7 30 Gauge
  9.6.5.8 Others
  9.6.6 Historic and Forecasted Market Size By Application
  9.6.6.1 Glucose Testing
  9.6.6.2 Haemoglobin Testing
  9.6.6.3 Others
  9.6.7 Historic and Forecasted Market Size By End User
  9.6.7.1 Hospitals
  9.6.7.2 Clinics
  9.6.7.3 Home Care
  9.6.7.4 Diagnostic Centers
  9.6.8 Historic and Forecast Market Size by Country
  9.6.8.1 Turkiye
  9.6.8.2 Bahrain
  9.6.8.3 Kuwait
  9.6.8.4 Saudi Arabia
  9.6.8.5 Qatar
  9.6.8.6 UAE
  9.6.8.7 Israel
  9.6.8.8 South Africa
 9.7. South America Diabetic Lancing Device Market
  9.7.1 Key Market Trends, Growth Factors and Opportunities
  9.7.2 Top Key Companies
  9.7.3 Historic and Forecasted Market Size by Segments
  9.7.4 Historic and Forecasted Market Size By Type
  9.7.4.1 Standard Lancets
  9.7.4.2 Safety Lancets
  9.7.4.3 Flake Lancets
  9.7.4.4 Others
  9.7.5 Historic and Forecasted Market Size By Gauge
  9.7.5.1 17 Gauge
  9.7.5.2 18 Gauge
  9.7.5.3 21 Gauge
  9.7.5.4 23 Gauge
  9.7.5.5 25 Gauge
  9.7.5.6 28 Gauge
  9.7.5.7 30 Gauge
  9.7.5.8 Others
  9.7.6 Historic and Forecasted Market Size By Application
  9.7.6.1 Glucose Testing
  9.7.6.2 Haemoglobin Testing
  9.7.6.3 Others
  9.7.7 Historic and Forecasted Market Size By End User
  9.7.7.1 Hospitals
  9.7.7.2 Clinics
  9.7.7.3 Home Care
  9.7.7.4 Diagnostic Centers
  9.7.8 Historic and Forecast Market Size by Country
  9.7.8.1 Brazil
  9.7.8.2 Argentina
  9.7.8.3 Rest of SA

Chapter 10 Analyst Viewpoint and Conclusion
10.1 Recommendations and Concluding Analysis
10.2 Potential Market Strategies

Chapter 11 Research Methodology
11.1 Research Process
11.2 Primary Research
11.3 Secondary Research