Lancet and Pen Needles Market Outlook and Forecast 2027: Growth Factors, Trends and Predominant Companies Analysis for Business Development

“Lancet and Pen Needles Market”
Lancet and Pen Needles Market report explores Scope of the Study as Research Objective, Assumptions and Limitations in-depth. The report gives Market Dynamics by Drivers, Restraints, Opportunities, Challenges, Macroeconomic Indicators and Technology Trends & Assessment.

Lancets are one of the widely used alternative devices to obtain blood samples. The Global Lancet and Pen Needles Market is expected to grow at a CAGR of 10.30% during the forecast period, 2018-2027. 

Lancet and Pen Needles Market – Regional Analysis

Europe dominates the global lancet and pen needles market owing to the increasing prevalence of patients, the presence of major market players. According to the Organization for Economic Co-operation and Development (OECD), the healthcare expenditure in Germany was EUR 321 billion in 2014 while France recorded the second highest level of current healthcare expenditure of EUR 237 billion.

The Americas hold the second position in the market owing to increasing support from the government, the presence of huge geriatric population, and high healthcare spending. Moreover, improvement in medical device regulation, the presence of a strong economic condition, and focus of research institutions on updating technology for new and advanced treatment methods for lancet and pen needles are some of the other factors contributing to the growth of this market in the region.

Asia Pacific is the fastest growing market owing to the presence of more number of developing nations such as India and China in this region. These countries are encouraging the growth of the lancet and pen needles market.    

The Middle East & Africa is expected to hold the least market share due to less availability of medical facilities, and less development in the healthcare domain. However, countries such as Qatar and Kuwait are focusing more on the healthcare sector and developing medical facilities, which will boost the market of this region.

Lancet and Pen Needles Market – Key Players

Some of the key players in this market are B. Braun Melsungen AG, Terumo Corporation, Becton Dickinson, Sanofi, F. Hoffmann-La Roche AG, Bayer AG, Novo Nordisk A S, Eli Lilly and Company, Owen Mumford Ltd, Medtronic, Ypsomed Holding AG, Sarstedt AG & Co, Greiner Bio One, Abbott Laboratories, HTL-STREFA S.A, Improve Medical, UltiMed, Inc., Allison Medical, Inc., Artsana S.p.a., VOGT MEDICAL, Perrigo Diabetes Care, MedExel Co., Ltd, ARKRAY Inc., Simple Diagnostics, Stat Medical, Terumo, Trividia Health, and others.

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Lancet and Pen Needles Market – Competitive Landscape

HTL-STREFA S.A. is the leading medical device company that develops, manufactures and sells safety lancets, personal lancets, lancing devices, pen needles and safety pen needles. Key elements of its strategy focus on manufacturing for top multinational medical device corporations. They also market their own products under the company’s brand in cooperation with the local distributors. It has adopted the strategy of collaboration with other leading organizations to sustain their position in the market. The company is spread in more than 80 countries. They are the leading provider of blood micro-sampling medical devices across the globe with nearly 50% of the global safety lancets market share and 2nd largest provider of personal lancets globally.

F. Hoffmann-La Roche Ltd. is second largest medical device company, by holding a share of 19.1% as of 2016. F. Hoffmann-La Roche Ltd. develops and manufactures pharmaceutical, medical and diagnostic products. The company has a huge brand image, broad product portfolio, and strong distribution network around the globe. Roche is known for their technological innovations in Lancet and pen needle market. In the recent years, Roche acquired Signature Diagnostics AG (Signature), a privately held company based in Potsdam, Germany. Furthermore, Roche also acquired Signature Diagnostics AG (Signature), a privately held company based in Potsdam, Germany

Becton, Dickinson, and Company (known as “BD”) manufacture medical devices and instruments. The company’s customers include healthcare institutions, science researchers, clinical laboratories, and the pharmaceutical industry. BD operates in more than 50 countries. For Instance, in March 2015, Becton, Dickinson, and Company announced the acquisition of CRISI Medical Systems, a medical technology company focused on providing safe delivery of IV injectable medications. The acquisition will strengthen BD’s position in addressing preventable medication errors and improve the care delivery.

Lancet and Pen Needles Market – Highlights

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 the 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, hemoglobin (HBO) and HIV screening test, blood group test, coagulation tests, allergy tests, and many other blood-based tests.

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Lancet and Pen Needles Market – Segmentation

The Global Lancet and Pen Needles Market is segmented on the basis of type, application, and end user. On the basis the type, it is segmented into lancets and pen needles. The lancet segment is further segmented into safety lancets and regular lancets. The safety lancets is further sub-segmented into push button safety lancets, pressure activated safety lancets, and side button safety lancets. The pen needles is further sub-segmented into standard pen needles and safety pen needles. On the basis of the application, it is segmented into insulin, capillary blood sampling, hormones, GLP, skin testing, and others. On the basis of the end users, it is segmented into hospitals & clinics, diagnostic centers & medical institutions, home care & home diagnostics, research & academic laboratories, and others.

Major Table of Content

Chapter 1. Report Prologue

Chapter 2. Market Introduction

2.1 Definition

2.2 Scope of the Study

2.2.1 Research Objective

2.2.2 Assumptions

2.2.3 Limitations

Chapter 3. Research Methodology

3.1 Introduction

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

Chapter 4. Market Dynamics

Continued….

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