Global Diabetic Lancing Device Market, By Type (Safety Lancets, Standard Lancets), Gauge (17/18g, 21g, 23g, 25g, 28g, 30g, Others), Penetration Depth (8 mm to 1.0 mm, 1 mm to 1.5 mm, 6 mm to 2.0 mm, 1 mm to 2.5 mm, 5 mm to 3.0 mm), Application (Hospitals & Clinics, Home Care & Home Diagnostics, Diagnostic Centers & Medical Institutions, Research & Academic Laboratories, Others), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights : Global Diabetic Lancing Device Market
Diabetic lancing device market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to reach at an estimated value of USD 1,742.01 million and grow at a CAGR of 10.28% in the above-mentioned forecast period. Increasing prevalence of diabetes among the population in developed and developing countries drives the diabetic lancing device market.
Diabetes is defined as a disease which occurs due to high blood glucose levels. Lancing device is also known as a blood sampling device, which is mostly used by diabetics during blood glucose monitoring, and the device is equipped with a lancet. Lancing devices are basically reusable, but the lancet can be used for a single check and also operating the lancing device is simple and the device is very easy to use, which results in the increasing preference for personal use.
Increasing awareness regarding use of blood glucose monitoring devices and safety measure devices to avoid infectious diseases is the vital factor escalating the market growth, also rise in prevalence of diabetic population, increased awareness about safety measures in order to avoid infectious diseases, rise in the awareness about blood glucose monitoring devices, increasing healthcare expenditure, easy access for the treatment due to increasing number of hospitals, rising number of diabetic patients due to unhealthy lifestyle of the people and rising cases of diabetes in young generation due to bad genetics and improper diet during the forecast period are the major factors among others driving the diabetic lancing device market. Moreover, rising technological advancements and modernization in the healthcare devices, rising research and development activities in the healthcare sector and rising emerging markets with increasing geriatric population will further create new opportunities for diabetic lancing device market in the forecasted period of 2021-2028.
However, increasing traditional Chinese medicine as an alternative and increasing cost of advanced diabetes management devices are the major factors among others which will obstruct the market growth, while rising lack of adherence of patients to recommended diabetes treatment guidelines will further challenge the growth of diabetic lancing device market in the forecast period mentioned above.
Diabetic lancing device market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on diabetic lancing device market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Diabetic Lancing Device Market Scope and Market Size
Diabetic lancing device market is segmented on the basis of type, gauge, penetration depth and application. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of type, diabetic lancing device market is segmented into safety lancets and standard lancets.
- Based on gauge, the diabetic lancing device market is segmented into17/18g, 21g, 23g, 25g, 28g, 30g and others.
- Based on penetration depth, the diabetic lancing device market is segmented into 8 mm to 1.0 mm, 1 mm to 1.5 mm, 6 mm to 2.0 mm, 1 mm to 2.5 mm and 5 mm to 3.0 mm.
- The diabetic lancing device market is also segmented on the basis of application into hospitals & clinics, home care & home diagnostics, diagnostic centers & medical institutions, research & academic laboratories and others.
Diabetic Lancing Device Market Country Level Analysis
Diabetic lancing device market is analysed and market size insights and trends are provided by country, type, gauge, penetration depth and application as referenced above.
The countries covered in the diabetic lancing device market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the diabetic lancing device market due to rising prevalence of diabetes coupled with growing preference for diabetes lancing devices in this region. Europe is the expected region in terms of growth in diabetic lancing device market due to rising change in individual lifestyle and rising research and development activities for improvement of new medication and devices in this region. Asia-Pacific is also expected to grow in diabetic lancing device market due to rising presence of a large number of lancet manufacturers from emerging economies such as India, Japan, South Korea, and China in this region.
The country section of the diabetic lancing device market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
Diabetic lancing device market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment’s, installed base of different kind of products for diabetic lancing device market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the diabetic lancing device market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Diabetic Lancing Device Market Share Analysis
Diabetic lancing device market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to diabetic lancing device market.
The major players covered in the diabetic lancing device market report are BD, F. Hoffmann-La Roche Ltd, Johnson & Johnson Services, Inc., Sanofi, Novo Nordisk A/S, Ypsomed Holding, Ascensia Diabetes Care Holdings AG, Dexcom, Inc., ARKRAY USA, Inc., Bayer AG, Amylin Pharmaceuticals Inc., Abbott, Medtronic Inc., Teva Pharmaceuticals Pvt Ltd., Home Diagnostics Inc., Novartis AG, Eli Lilly and Company, Merck & Co., Inc, AstraZeneca, Boehringer Ingelheim International GmbH. and Terumo Corporation among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
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