Towards Healthcare
Lancets Market Size, Shares & Volume Production by 2034

Lancets Market Size to Increase US$ 2.42 Billion by 2034

The lancets market size to capture US$ 1.59 billion in 2025 and is to soar US$ 2.01 billion by 2030. Lancets are small, disposable needles used for blood sampling, primarily for diabetes monitoring and other at-home tests. The lancet market is growing due to rising diabetes cases, demand for at-home testing, and innovations like painless, retractable, and adjustable-depth lancets. While the North American market leads due to advanced healthcare infrastructure, Asia-Pacific is growing rapidly with its aging population.

Lancets Market Size, Segments and Regional Growth Analysis

The lancets market was estimated at US$ 1.45 billion in 2023 and is projected to grow to US$ 2.42 billion by 2034, rising at a compound annual growth rate (CAGR) of 4.77% from 2024 to 2034. The rising prevalence of diabetes, the increasing geriatric population, and the demand for at-home tests drive the market.

Lancets Market Revenue Market Revenue 2023 to 2034

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Lancets Market: Precision Punctures

Lancets are small, sharp needles used to prick the finger's skin to withdraw a small amount of blood. They are only suitable for single use and are usually disposable. They are predominantly used to withdraw blood for diabetes monitoring. They are also used in several at-home tests for allergies, sexually transmitted infections, cholesterol, ketones, uric acid, hemoglobin, and HbA1c.

The rising prevalence of type â…  and type â…¡ diabetes drives the market. Around 422 million people worldwide are suffering from diabetes. The advent of lancing devices also boost the market. Lancing devices are designed to hold the lancet and can automatically withdraw the blood by just placing it on the skin. They can simplify the process of collecting blood, especially in children and the geriatric population. The market is also driven by increasing incidences of allergies, cholesterol, and sexually transmitted infections.

  • The rising demand for at-home or remote tests allows for disease diagnosis anytime and anywhere, promoting the use of lancets.
  • In June 2023, Thorne Healthcare, a personalized health technology company, received CE Mark certification for its NanoDrop Device. The device utilizes dual nano lancet technology to obtain capillary whole-blood samples without pain.
  • In August 2024, Medical Technology and Devices (MTD) announced the acquisition of Ypsomed’s Pen Needles and Blood Glucose Monitoring Systems businesses. MTD is also implementing a substantial investment plan to establish production facilities for pen needles and lancets in Europe.

Cutting-Edge Innovations: A New Era for Lancets

The rising demand and sales of lancets worldwide demand the latest innovations to improve patient compliance. Conventional lancets are painful for many patients and carry the risk of injury. However, the latest innovations promote the development of lancets to enhance efficiency and improve patient experience. Novel lancets enhance safety through pre-sterilized and retractable needles. Some modern lancets also have the feature of adjustable depth settings, allowing healthcare professionals to use personalized lancets and predetermine the amount of blood required for different tests. Additionally, some lancet needles are hidden in the device and collect blood by pressing a button. This reduces the fear of needles among patients and also minimizes the sensation of needles. Furthermore, advancements in nanotechnology drive the latest innovations in nano-lancets. Researchers are also investigating the development of lancets with integrated sensors to provide real-time data.

Restraint: Needlestick Injuries

The needlestick injuries may pose a significant threat to the lancets market. The needle or lancet is pricked to withdraw a small amount of blood. This process is painful and can cause hard calluses in many patients. The injury can also lead to blood-borne diseases like Hepatitis B, Hepatitis C, and HIV.

Regional Insights

Lancets Market NA, EU, APAC, LA, MEA Share, 2023 (%)

Rising Chronic Disorders Dominate the North American Market

North America held the largest share of the market in 2023. The rising prevalence of chronic disorders, advanced healthcare infrastructure, demand for at-home tests, and increasing investments drive the market. According to the Centers for Disease Control and Prevention, more than half of the US citizens are suffering from cholesterol. This further increases the need to monitor cholesterol levels in the blood, thereby promoting the lancets market. The presence of key players also boost the market. Several government bodies, such as the US FDA and CDC, have released guidelines for the safe use and disposal of lancets.

Prevalence of Diabetes, 2022

Rising Geriatric Population Promotes Asia-Pacific Market

Asia-Pacific is anticipated to grow at the fastest rate in the lancets market during the forecast period. The rising geriatric population, growing healthcare infrastructure, and increasing investments & collaborations drive the market. The prevalence of chronic illnesses such as diabetes and cholesterol rises due to the increase in geriatric population. Approximately 28.7% of the population in Japan is 65 years or older. In China, approximately 280 million people were 60 years and above age in 2022, and the total diabetes rate was the highest, i.e., 27.5 adults per 100 adults in this age group. In India, around 77 million people above 18 years old have diabetes. This promotes the use of blood glucose monitoring devices, thereby increasing the use of lancets.

Segmental Insights

Lancets Market Share, By Size, 2023 (%)

By type, the standard lancets segment held a dominant presence in the lancets market in 2023. Standard lancets are widely preferable due to their simple design and ease of use. They are also comparatively cheaper than safety lancets. The safety lancets segment is expected to grow at the fastest rate in the market during the forecast period. Safety lancets are specially designed to prevent accidental pricks and reduce the risk of infection. The demand for painless blood withdrawal increases the demand for safety lancets.

By size, the 23G-33G segment dominated the lancets market in 2023. The size of the lancet depends on the thickness of the needle. The higher the size number of the lancet, the thinner the needle. 23 gauge to 33 gauge lancets are considered to be the average size of the lancet needle suitable for all types of tests. 23G lancets can be used for thicker skin types, while 33G lancets are used for children and people with sensitive skin. The 22G and below segment is projected to expand rapidly in the market in the coming years. A lancet size of less than 22G is preferred for patients with thicker skin types or to withdraw a larger amount of blood.

By end-use, the hospital segment registered its dominance over the global lancets market in 2023. Lancets are widely used in hospital settings as they provide expert care due to the presence of trained professionals, reducing the chance of injury or infection. Hospitals follow stringent regulatory guidelines for the use and disposal of lancets. The ambulatory surgical centers (ASCs) segment is anticipated to grow with the highest CAGR in the market during the studied years. ASCs are modern healthcare facilities that provide same-day surgical care, including diagnostic and preventive procedures. Lancets are used in ASCs for several diagnostic tests for minor surgeries.

Recent Developments in the Lancets Market

  • In September 2022, Tasso announced that it had received 510(k) clearance for its blood 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 April 2024, Drawbridge Health announced the receipt of 510(k) clearance from the US FDA for its advanced at-home blood sampling device, NanoDrop Lancet, for OTC use. NanoDrop Lancet is the US FDA-approved OTC blood-lancing device labeled for the upper arm.

Top Companies in the Lancets Market

  • Abbott Laboratories
  • BioCare Corporation
  • Bioland Technology Ltd.
  • Braun SE
  • Drawbridge Health
  • ForaCare
  • Genteel
  • Haiden Technology Pvt. Ltd.
  • HemoCue
  • Hoffman-La Roche Ltd.
  • Phoenix Healthcare Solutions, LLC
  • Tasso
  • Trimpeks Healthcare
  • Vitrex Medical A/S

Segments Covered in the Report

By Type

  • Standard Lancets
  • Safety Lancets
  • Manually Activated Lancets
  • Automatically Activated Lancets

By Size

  • 23G-33G
  • 22G and Below
  • Above 33G

By End-Use

  • Hospitals
  • Ambulatory Surgical Centers
  • Clinics
  • Homecare Settings
  • Others

By Region

  • North America
    • US
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Thailand
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Sweden
    • Denmark
    • Norway
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East and Africa (MEA)
    • South Africa
    • UAE
    • Saudi Arabia
    • Kuwait
  • Insight Code: 5251
  • No. of Pages: 150+
  • Format: PDF/PPT/Excel
  • Published: October 2024
  • Report Covered: [Revenue + Volume]
  • Historical Year: 2021-2022
  • Base Year: 2023
  • Estimated Years: 2024-2033

Meet the Team

Kesiya Chacko is a healthcare market research expert with 4+ years of experience, specializing in analyzing industry trends, assessing market opportunities, and providing actionable insights for businesses in healthcare sectors.

Learn more about Kesiya Chacko

Aditi Shivarkar, with 14+ years of healthcare market research experience, ensures the accuracy, clarity, and relevance of reports. Her expertise helps businesses make informed decisions and stay competitive in healthcare sectors.

Learn more about Aditi Shivarkar

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FAQ's

Lancets are small, sharp needles that are used to withdraw blood for testing several chronic disorders and infectious diseases.

Lancets are disposable and used only once in a patient to minimize the risk of transmitting bloodborne pathogens and prevent several needlestick injuries such as hepatitis B, hepatitis C, and HIV.

World Health Organization, Centers for Disease Control and Prevention, National Institute of Health