The global diabetic lancing device market largely involves lancing devices that are used for puncturing the skin for obtaining blood samples from people with diabetes. These handheld devices are an easier alternative to manual lancing with the use of a sharp lancet. Popular product types include push-button lancing devices, adjustable lancing devices, multi-use lancing devices, and side-button lancing devices. Lancing devices improve user compliance and minimize finger pricking pain through controlled depth settings and other features.

The Global diabetic lancing device market is estimated to be valued at US$ 928.2 Mn in 2024 and is expected to exhibit a CAGR of 9.8% over the forecast period 2024 to 2031.

Key Takeaways

The growing prevalence of diabetes across the globe is propelling the demand for Global Diabetic Lancing Device Market Size. As per International Diabetes Federation estimates, around 537 million adults aged 20-79 years were living with diabetes in 2021 globally which is expected to rise to 643 million by 2030 and 783 million by 2045. Rising healthcare expenditures in low and middle-income countries is also supporting the market growth.

Key players operating in the global diabetic lancing device market are Genteel LLC., Abbott, BD, Braun SE, F. Hoffmann-La Roche Ltd, Greiner Bio-One International GmbH, Eli Lilly and Company, Allison Medical, Inc., Diabetyk24 z o.o., i-SENS, Inc., Nipro Corporation, Medisave UK Ltd, Home Health Ltd, Medtronic, ARKRAY, Inc., Owen Mumford, and LifeScan IP Holdings, LLC. Major players are focusing on new product launches and geographic expansions to gain a competitive edge.

Global expansion strategies of market players such as partnerships, acquisitions, and collaborations are aiding the geographic expansion of the diabetic lancing device market. For instance, in 2022, Nipro Corporation acquired Dexcom, Inc. to expand sales of continuous glucose monitoring systems globally. Emerging markets across Middle East, Africa, Asia Pacific are expected to exhibit high growth over the forecast period due to rising awareness regarding diabetes management.

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