Safety Lancets Market Size, Companies & Growth
The safety lancets market was valued at approximately US$ 2.1 billion in 2023 and is projected to expand to US$ 6.32 billion by 2034, reflecting a compound annual growth rate (CAGR) of 10.54% from 2024 to 2034. Key drivers of this growth include the rising demand for point-of-care diagnostics, the need to prevent needlestick injuries, and ongoing technological advancements.
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Safety Lancets Market Overview
Safety lancets are small, sharp devices used to puncture the skin for blood sampling. Unlike standard lancets, which pose a risk of needlestick injuries, safety lancets feature retractable needles that minimize accidental pricks and reduce the risk of infection. These devices are designed to deliver precise, predetermined puncture depths for effective blood sample collection. Safety lancets are primarily utilized for blood glucose monitoring and various tests, including lipid profiles, HbA1C, and blood typing.
The growing prevalence of chronic diseases such as diabetes and high cholesterol is driving demand for safety needles. Additionally, the rise in needlestick injuries associated with conventional lancets further encourages the shift towards safety lancets. Technological innovations and advancements in the design of safety lancets are also contributing to market expansion.
Market Trends
In April 2024, HTL-Strefa announced expanded FDA approval for its Droplet Micron 34G x 3.5 mm pen needle, allowing it to transition from prescription-only to over-the-counter status. This needle will not only be used for insulin delivery but also for the subcutaneous injection of GLP-1 analogs.
B.Braun reported sales of around 8,755 million EUR in 2023, marking a 3% increase from the previous year, with a gross profit of 3,322.4 million EUR. The company invested 484.6 million EUR in research and development during the same period.
Growth of Blood Self-Sampling Devices
The emergence of blood self-sampling devices, or lancing devices, is significantly boosting the demand for safety lancets. These devices automate blood sample collection, offering a standardized and safe method for obtaining blood, which is especially beneficial for children, the elderly, and individuals who fear needles. The introduction of self-sampling devices enhances patient adherence to testing protocols and integrates seamlessly with current total lab automation systems. They are designed to be affordable, sustainable, and high-quality, with the capability to collect blood from the upper arm or via finger pricks. These advancements are particularly valuable for patients in remote areas who require laboratory testing.
Recent Development in the Safety Lancets Market
- In September 2022, Tasso announced that it had received 510(k) clearance for its lancet product, Tasso+, to enable blood collection at home. The blood collection is initiated by just pressing a button on the device to release a lancet.
- In December 2023, Becton, Dickinson, and Co. (BD) received FDA authorizations for their two blood draw devices from the BD MiniDraw Capillary Blood Collection System series. The blood is withdrawn from a capillary level using a lancet integrated into the device.
Top Companies in the Safety Lancets Market
- Accurex Biomedical Pvt. Ltd.
- B.Braun
- Biosense Technologies
- Cardinal Health
- Ethitech Health Innovation
- Greiner Bio-One
- HemoCue AB
- ICU Medical
- Microdot
- Owen Mumford
- Phoenix Healthcare Solutions, LLC
- Sarstedt, Inc.
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