United States Lancets Market to be Driven by Increasing Demand for Uniform Medical Coding System during the Forecast Period of 2023-2028
The new report by Expert Market Research titled, ‘United States Lancets Market Size, Share, Growth, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the United States lancets market, assessing the market based on its segments like Product type, Application, and End Use among others. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): 227 million USD
- Forecast CAGR (2023-2028): 9%
One of the most popular medical procedures is diagnostic blood testing, which accounts for 70-80% of all medical choices. Many businesses are developing new methods for collecting blood samples that are safer, simpler, and more efficient. Due to features such as maximal skin-piercing force and minimal wound area, the advent of high-speed lancing devices is fueling market expansion. These gadgets help patients feel better by reducing pain and speeding up wound healing. For its vast patient pool and favourable payment regulations, the United States is an important regional market for lancets internationally. The area's market growth has been aided by regular product introductions, as well as increased healthcare expenditure in the region. According to the International Diabetes Federation, the area accounts for 43 percent of all diabetes-related health spending. The expansion of the lancets sector in the region has been fueled by a growing awareness of self-health and the high costs of diagnosis in hospitals. The huge presence of big industry players in the region has assisted the market even more.
United States Lancets Industry Definition and Major Segments
Lancets, also known as blood lancets, are medical equipment that are used to diagnose disorders including diabetes, hyperlipidemia, and dyslipidemia. They feature a double-edged blade and are used to penetrate the skin to acquire blood samples, similar to a scalpel. Diabetic patients frequently use these lancets to check their blood glucose levels or to collect capillary blood samples. The use of a disposable lancet reduces the danger of blood transfusion and infection transmission, boosting market growth. However, in poorer nations, limited knowledge of homecare lancets is expected to stifle market growth. Additionally, a favourable regulatory environment has a beneficial influence on the lancet market's growth, resulting in attractive chances in the near future.
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Based on product types, the market can be segmented into:
- Standard Lancets
- Safety Lancets
- Vacuum Lancets
Based on application, the United States lancets market is divided into:
- Haemoglobin Testing
- Coagulation Testing
- Others
On the basis of end uses, the United States lancets market can be categorised into:
- Hospitals and Clinics
- Blood Banks
- Home Care Settings
- Others
United States Lancets Market Trends
The demand for lancets has been steadily increasing. This demand is the result of the expanding senior population, combined with increased chronic illness occurrences. The market is being propelled ahead by rising diabetes occurrences, improved awareness of self-health monitoring, and the broad availability of goods. The expanding inclination for homecare, rising healthcare costs, and rising infectious disease rates are all contributing to market expansion. Moreover, increased government spending and rapid technology advancements in the field of diabetes are two important driving elements assisting the industry's growth. Many businesses are investing in more effective blood sampling procedures, which will benefit the industry in the next few years. Additionally, the rising popularity of at-home cholesterol testing kits, fueled by a growing awareness of preventative healthcare, is expected to support market growth in the future.
Key Market Players
The major players in the market are Abbott Laboratories, Becton, Dickinson and Company, Medline Industries Inc., ARKRAY USA, Inc., Roche Diagnostics Ltd., Terumo Corporation, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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