Disposable Diabetes Lancets Market Companies & Shares
The disposable diabetes lancets market size was estimated at US$ 1.19 billion in 2023 and is projected to grow to US$ 1.9 billion by 2034, rising at a compound annual growth rate (CAGR) of 4.33% from 2024 to 2034. The increasing demand for point-of-care diagnostics, the rising prevalence of diabetes, and technological advancements drive the market.
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Disposable Diabetes Lancets Market: Simplifying Blood Glucose Testing
Lancets are small, sterile needles used to draw a tiny blood sample by pricking the skin, typically from a finger. These are designed for one-time use and are available in two types: standard lancets and safety lancets. Lancets are essential for monitoring blood glucose levels, especially for patients with diabetes. As the demand for point-of-care diagnostics increases, the use of lancets has become more widespread.
With the rising prevalence of type I and type II diabetes, there is a greater need for regular blood glucose monitoring. This has driven the demand for lancets, especially with the introduction of advanced devices designed for easier and less painful blood collection.
Disposable Diabetes Lancets Market Trends
In May 2024, Roche Diabetes Care India announced the local manufacturing of its glucose monitoring device, Accu-Chek Active, to meet the growing demand for diabetes care in India. The initiative is in partnership with Sanmina-SCI India Pvt. Ltd. and Parekh Integrated Services Pvt. Ltd. to enhance accessibility.
In August 2024, Medical Technology and Devices (MTD) acquired Ypsomed’s Pen Needles and Blood Glucose Monitoring Systems businesses. MTD is also investing significantly in establishing production facilities for pen needles and lancets in Europe.
The UK’s National Health Service (NHS) recommends that newly diagnosed diabetes patients check their blood sugar every 3 months, and at least every 6 months once their condition is stable.
Segmental Insights
By Type: The safety lancets segment is expected to experience substantial growth in the coming years. Safety lancets are a safer alternative to standard ones as they are designed to prevent needlestick injuries. These lancets can penetrate to a specific depth, making them more personalized to individual patient needs. Continuous advancements in technology are driving this segment’s growth.
By Application: The hospital and clinic segment held the largest share of the disposable diabetes lancets market in 2023. With an increasing number of diabetes patients and the availability of proper disposal facilities, hospitals and clinics are the primary users of disposable lancets. The presence of trained healthcare professionals in these settings reduces the risk of injury or infection during testing.
Recent Developments
In April 2024, Drawbridge Health received 510(k) clearance from the US FDA for its NanoDrop Lancet, an advanced at-home blood sampling device. The device is approved for over-the-counter (OTC) use, allowing individuals to collect blood samples from the upper arm.
In March 2023, Pip Diabetes launched painless, single-use lancets designed for a clean, comfortable blood sample. These lancets are engineered for precision, minimizing pain and vibration during the fingerstick process.
Top Companies in the Disposable Diabetes Lancets Market
- A. Menarini Diagnostics
- Acon Diabetes Care
- AdvaCare Pharma
- Arkray Healthcare Pvt. Ltd.
- BioCare Corporation
- CVS Pharmacy
- Drawbridge Health
- Genteel
- Hoffman La-Roche Ltd.
- Owen Mumford
- Pip Diabetes
- SD Biosensor Healthcare Pvt. Ltd.
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