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United States Lancets Market Size, Share, Growth, Forecast: By Product Type: Standard Lancets, Safety Lancets, Vacuum Lancets; By Application: Haemoglobin Testing, Coagulation Testing, Others; By End Use: Hospitals and Clinics, Blood Banks, Home Care Settings, Others; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
United States Lancets Market Outlook
The United States lancets market reached a value of about USD 293.97 million in 2023. The market is further expected to grow at a CAGR of about 9% in the forecast period of 2024-2032.
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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.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
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| Breakup by Application |
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| Breakup by End Use |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| 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 Opportunities and Challenges in the Market
9 United States Lancets Market Analysis
9.1 Key Industry Highlights
9.2 United States Lancets Historical Market (2018-2023)
9.3 United States Lancets Market Forecast (2024-2032)
9.4 United States Lancets Market by Product Type
9.4.1 Standard Lancets
9.4.1.1 Historical Trend (2018-2023)
9.4.1.2 Forecast Trend (2024-2032)
9.4.2 Safety Lancets
9.4.2.1 Historical Trend (2018-2023)
9.4.2.2 Forecast Trend (2024-2032)
9.4.3 Vacuum Lancets
9.4.3.1 Historical Trend (2018-2023)
9.4.3.2 Forecast Trend (2024-2032)
9.5 United States Lancets Market by Application
9.5.1 Haemoglobin Testing
9.5.1.1 Historical Trend (2018-2023)
9.5.1.2 Forecast Trend (2024-2032)
9.5.2 Coagulation Testing
9.5.2.1 Historical Trend (2018-2023)
9.5.2.2 Forecast Trend (2024-2032)
9.5.3 Others
9.6 United States Lancets Market by End Use
9.6.1 Hospitals and Clinics
9.6.1.1 Historical Trend (2018-2023)
9.6.1.2 Forecast Trend (2024-2032)
9.6.2 Blood Banks
9.6.2.1 Historical Trend (2018-2023)
9.6.2.2 Forecast Trend (2024-2032)
9.6.3 Home Care Settings
9.6.3.1 Historical Trend (2018-2023)
9.6.3.2 Forecast Trend (2024-2032)
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 Key Trends and Developments in the Market
List of Key Figures and Tables
1. United States Lancets Market: Key Industry Highlights, 2018 and 2032
2. United States Lancets Historical Market: Breakup by Product Type (USD Million), 2018-2023
3. United States Lancets Market Forecast: Breakup by Product Type (USD Million), 2024-2032
4. United States Lancets Historical Market: Breakup by Application (USD Million), 2018-2023
5. United States Lancets Market Forecast: Breakup by Application (USD Million), 2024-2032
6. United States Lancets Historical Market: Breakup by End Use (USD Million), 2018-2023
7. United States Lancets Market Forecast: Breakup by End Use (USD Million), 2024-2032
8. United States Lancets Market Structure
Key Questions Answered in the Report
In 2023, the market attained a value of nearly USD 293.97 million.
The market is projected to grow at a CAGR of 9% between 2024 and 2032.
The increasing prevalence of chronic diseases, the growing awareness regarding the benefits of homecare systems, and increasing government funding for more efficient healthcare testing products are the major market drivers.
The key trends guiding the market demand include rising awareness of preventative healthcare and the growing availability of advanced testing products.
The various product types included in the market report are standard lancets, safety lancets, and vacuum lancets.
The significant applications of the product include haemoglobin testing and coagulation testing, among others.
Hospitals and clinics, blood banks, and home care settings, among others, are the major end uses of the product.
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 293.97 million in 2023, 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 2024-2032, 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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