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United States Lancets Market: By Product Type: Standard Lancets, Safety Lancets, Vacuum Lancets; By Application: Haemoglobin Testing, Coagulation Testing, Others; By End Use; Historical Market and Forecast (2018-2028); Market Dynamics: SWOT Analysis; Value Chain Analysis; Competitive Landscape; Industry Events and Developments
United States Lancets Market Outlook
The United States lancets market reached a value of about USD 227 million in 2020. The market is further expected to grow at a CAGR of about 9% in the forecast period of 2023-2028.
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The United States to be a Significant Regional Market for Lancets
The United States is a significant regional market for lancets globally owing to the presence of a large patient pool and favourable reimbursement policies. The frequent product launches, coupled with rising healthcare expenditure in the region, have further contributed to the market growth in the region. According to The International Diabetes Federation, 43% of the total diabetes-related health expenditure occurs in the region. The increasing awareness of self-health and the high costs of diagnosis in hospitals have further propelled the growth of the lancets industry within the region. The market has been further aided by the significant presence of the major industry players within the region.
Lancets: Market Segmentation
Lancets or blood lancets are medical instruments used for the diagnosis of several diseases, such as diabetes, hyperlipidemia, and dyslipidemia. They are similar to a scalpel and have a double-edged blade used to puncture the skin to obtain blood samples. These lancets are widely used by diabetic patients to monitor their blood glucose level or for capillary blood sampling.
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Based on product types, the market can be segmented into:
- Standard Lancets
- Safety Lancets
- Vacuum Lancets
On the basis of application, the market is divided into:
- Haemoglobin Testing
- Coagulation Testing
- Others
Lancets finds its end uses in:
- Hospitals and Clinics
- Blood Banks
- Home Care Settings
- Others
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Growing Preference for Self-Health Monitoring to Bolster the Market Growth
The demand for lacets has been growing at a robust pace. This demand is created due to the growing geriatric population, coupled with rising incidences of chronic diseases. The growing incidences of diabetes, increased of awareness of self-health monitoring, along with the wide availability of the products, are driving the market forward. The rising preference for homecare, growing healthcare expenses, and the rising incidences of infectious diseases are further contributing to market growth. Additionally, rising government expenditure and rapid technological developments in the field of diabetes are also the major driving forces aiding the growth of the industry. Many companies are making inroads in more efficient blood sampling methods, which are expected to aid the market in the coming years. Moreover, the growing trend of cholesterol testing kits at home induced by the increasing awareness of preventative healthcare is also projected to boost the market growth in the coming years.
Key Industry Players in the United States Lancets Market
The report gives a detailed analysis of the following key players in the market for United States lancets market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Abbott Laboratories
- Becton, Dickinson and Company
- Medline Industries Inc.
- ARKRAY USA, Inc.
- Roche Diagnostics Ltd.
- Terumo Corporation
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Product Type, Application, End Use |
| Breakup by Product Type | Standard Lancets, Safety Lancets, Vacuum Lancets |
| Breakup by Application | Haemoglobin Testing, Coagulation Testing, Others |
| Breakup by End Use | Hospitals and Clinics, Blood Banks, Home Care Settings, Others |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Abbott Laboratories, Becton, Dickinson and Company, Medline Industries Inc., ARKRAY USA, Inc., Roche Diagnostics Ltd.,Terumo Corporation, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
7 Snapshot
7.1 United States
8 Industry Opportunities and Challenges
9 United States Lancets Market Analysis
9.1 Key Industry Highlights
9.2 United States Lancets Historical Market (2018-2022)
9.3 United States Lancets Market Forecast (2023-2028)
9.4 United States Lancets Market by Product Type
9.4.1 Standard Lancets
9.4.1.1 Market Share
9.4.1.2 Historical Trend (2018-2022)
9.4.1.3 Forecast Trend (2023-2028)
9.4.2 Safety Lancets
9.4.2.1 Market Share
9.4.2.2 Historical Trend (2018-2022)
9.4.2.3 Forecast Trend (2023-2028)
9.4.3 Vacuum Lancets
9.4.3.1 Market Share
9.4.3.2 Historical Trend (2018-2022)
9.4.3.3 Forecast Trend (2023-2028)
9.5 United States Lancets Market by Application
9.5.1 Haemoglobin Testing
9.5.1.1 Market Share
9.5.1.2 Historical Trend (2018-2022)
9.5.1.3 Forecast Trend (2023-2028)
9.5.2 Coagulation Testing
9.5.2.1 Market Share
9.5.2.2 Historical Trend (2018-2022)
9.5.2.3 Forecast Trend (2023-2028)
9.5.3 Others
9.6 United States Lancets Market by End Use
9.6.1 Hospitals and Clinics
9.6.1.1 Market Share
9.6.1.2 Historical Trend (2018-2022)
9.6.1.3 Forecast Trend (2023-2028)
9.6.2 Blood Banks
9.6.2.1 Market Share
9.6.2.2 Historical Trend (2018-2022)
9.6.2.3 Forecast Trend (2023-2028)
9.6.3 Home Care Settings
9.6.3.1 Market Share
9.6.3.2 Historical Trend (2018-2022)
9.6.3.3 Forecast Trend (2023-2028)
9.6.4 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Abbott Laboratories
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Becton, Dickinson and Company
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Medline Industries Inc.
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 ARKRAY USA, Inc.
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Roche Diagnostics Ltd.
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Terumo Corporation
12.2.6.1 Company Overview
12.2.6.2 Product Portfolio
12.2.6.3 Demographic Reach and Achievements
12.2.6.4 Certifications
12.2.7 Others
13 Industry Events and Developments
List of Key Figures and Tables
1. United States Lancets Market: Key Industry Highlights, 2018 and 2028
2. United States Lancets Historical Market: Breakup by Product Type (USD Million), 2018-2022
3. United States Lancets Market Forecast: Breakup by Product Type (USD Million), 2023-2028
4. United States Lancets Historical Market: Breakup by Application (USD Million), 2018-2022
5. United States Lancets Market Forecast: Breakup by Application (USD Million), 2023-2028
6. United States Lancets Historical Market: Breakup by End Use (USD Million), 2018-2022
7. United States Lancets Market Forecast: Breakup by End Use (USD Million), 2023-2028
8. United States Lancets Market Structure
Key Questions Answered in the Report
In 2020, the United States lancets market attained a value of nearly USD 227 million.
The market is projected to grow at a CAGR of 9% between 2021 and 2026.
Rise of chronic diseases, awareness of homecare system, and increased government funding for more efficient healthcare testing products are the major market drivers.
The rising awareness of preventative healthcare and advanced testing products are the key trends expected to contribute to the growth of the lancets industry.
The leading product types of lancets in the market in the United States are standard, safety, and vacuum lancets.
The major application segments of the product in the market are haemoglobin testing and coagulation testing, among others.
The significant end use sectors of lancets in the industry are hospitals and clinics, blood banks, and home care settings, among others.
The major players in the industry are Abbott Laboratories, Becton, Dickinson and Company, Medline Industries Inc., ARKRAY USA, Inc., Roche Diagnostics Ltd., and Terumo Corporation, among others.
Analyst Review
The United States lancets market attained a value of USD 227 million in 2020, driven by the growing development of the healthcare infrastructure. Aided by the rising awareness of self-health monitoring, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 9%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on product types, the market can be segmented into standard, safety, and vacuum lancets. By application, the industry is divided into haemoglobin testing and coagulation testing, among others. Based on the end use, the market is divided into hospitals and clinics, blood banks, and home care settings, among others. The key players in the above market are Abbott Laboratories, Becton, Dickinson and Company, Medline Industries Inc, ARKRAY USA, Inc., Roche Diagnostics Ltd., and Terumo Corporation, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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