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3. Roche Diagnostics (Switzerland), Becton, Dickinson and Company (US), and Terumo Medical Corporation (Japan) are the Leading Players in the Lancets Market

The lancets market is projected to reach USD 1,442 million by 2024 from USD 804 million in 2019, at a CAGR of 12.4% between 2019 and 2024. The growth of the lancets market is mainly driven by the growing prevalence of diabetes and the high prevalence of infectious diseases. However, the risk of needlestick injuries and the poor reimbursement scenario in developing countries are expected to restrain the growth of this market during the forecast period.

Roche Diagnostics (Switzerland), Becton, Dickinson and Company (US), and Terumo Medical Corporation (Japan) are the key players operating in this market. Other prominent players in the market include Ypsomed (Switzerland), B. Braun Melsungen (Germany), Own Mumford (UK), HTL-STREFA S.A (Poland), ARKRAY (Japan), Sarstedt (Germany), and SteriLance Medical (Suzhou) (China).

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Roche Diagnostics (Switzerland) was the leading player in the global lancets market in 2018. The company develops and manufactures equipment and reagents used for research and medical diagnostic applications. It offers lancets to various end users including physicians, hospitals, clinics, academic institutes, and for personal use through its Diabetes Care segment. Roche diagnostics invests a significant amount of its revenue in R&D activities to increase its presence in the market. For instance, in 2016, the company invested USD 1.36 billion in diagnostic research and development, which has been increased to USD 1.76 billion in 2018.

Becton, Dickinson and Company (US) is another leading player in the lancets market. The company develops, manufactures, and sells of medical devices, instrument systems, and reagents used by healthcare institutions, life science researchers, clinical laboratories, and the pharmaceutical industry. It offers lancets for blood sugar monitoring tests and other blood tests. With its strong product portfolio, the company has established a strong presence in more than 50 countries across North America, South America, Europe, Africa, and Asia Pacific and is serving customers in around 190 countries. BD competes with other players on the basis of price, quality, innovation, brand image, distribution, promotion, and other factors.

Related Reports:

Lancets Market by Type (Safety Lancets (Push button, Pressure Activated, Side Button), Personal Lancets), Application (Glucose Testing, Hemoglobin Testing), End User (Hospital, Clinic, Homecare), Region - Global Forecast to 2024

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