Safety Lancet Market Progresses for Huge Profits USD 2,305.1 Million by 2023

Market Research Future adds new report of “Safety Lancet Market Research Report – Global Forecast to 2023” it contains Company information, geographical data and Table of Content

Safety lancet is a disposable contrivance used for collecting capillary blood samples by doctors or other medical professionals. This is an intact object to the prevention from needle injury problems. Safety lancet eradicates the injuries and infections caused by injections.

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Safety Lancet Market-Overview:

Various reasons are helping behind the grand success of safety lancet market. The safety lancet becomes automatically inactive after it is used once. So there is no way to use it twice. This helps the doctors to maintain proper hygiene needed for the patient as a result patients are highly demanding for the use of safety lancet which is further propelling the market growth. Safety lancet contains self-retracting needles which reduces the hazard of cross contamination and other needle related injuries. Safety lancet is created in a way that it goes slightly under the skin and pulls as much of blood is required without leaving some deep injuries inside the skin. This is a great option for those who has fear in needle, as a result hospitals are hugely adopting this safety lancet.  Another aspect helping the acceptance of safety lancet in market is that this has high speed penetration which helps to abbreviate the pain which comes from regular injections. The sharp injury prevention aspect of safety lancet is expanding its market growth globally. The global market of safety lancet is projected to reach USD 2,305.1 million in 2023 from USD 1,056.2 million in 2016 with a CAGR of 11.8% during the forecast period 2017-2023.

The cost of safety lancet is really high. So as a result though it is painless and hazardless people from undeveloped countries can’t afford them. Countries like Africa where there is scarcity of food people can’t even think about adopting this new innovative technology. Other than this another factor demolishing the market growth of safety lancet is that it is not always available. This availability problem is somehow hindering the market growth of safety lancet.

Safety Lancet Market-Competitive Analysis:

In 2007, GMMC chucked the LANZO lancing device and in 2011 GMMC initiated LANZO safety lancet and is recognized among the best suppliers of safety lancet in Korean market.

Major contributors in this market are: F. Hoffmann-La Roche AG, Becton, Dickinson and Company, Terumo Medical Corporation, Bayer AG, HTL-STREFA S.A., Sarstedt AG & Co., Improve Medical Technology Co. Ltd and others.

Safety Lancet Market-Segmentation:

Safety lancet market is segmented into 3 divisions:

  • Segmentation by Type: Push Button Safety Lancet, Pressure Activated Safety Lancet and Side Button Safety Lancet.
  • Segmentation by End User: Hospitals & Clinics, Diagnostic Centers and Pathology Laboratories, Home Diagnostics and Other End Users
  • Segmentation by Region: Asia Pacific, North America and Europe.

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Safety Lancet Market- Regional Analysis:

Asia Pacific has countries like India, China where high population is giving rise to the adoption of safety lancet. South Korea has done some huge advancement which is working as a reason behind the huge growth of safety lancet market in Asia Pacific.

North America is massively contributing in the market growth of safety lancet market. Health care clinics and hospitals in US are considerably adopting this new medical technology as patients over there are highly aware about hygiene.

Europe is also contributing in the market growth of safety lancet. Germany, France and Italy are embracing this safety lancet in their hospitals and clinics.

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