Plastic Lancet Market: An Overview
Plastic Lancet is a pricking needle used in blood sampling and testing process. It is most commonly used by diabetic patient for testing blood regularly. It is a single use device and are very much affordable. Plastic lancet is also used by doctors, pathologist, and nurses for patient effected by cardiovascular issues, endocrine related complications and other such chronic diseases. It is also used personally by patient at home for sampling of blood. Plastic lancet is of various type and have different mechanism such as pressure activated, push button, and side button. The plastic lancet is also offered with same portable blood testing devices, which are used as a homecare kit. The commonly used plastic lancet are simple single use lancet which are manually used for pricking. It is one of the most commonly use devices in the medical sector to obtain the blood sample. Plastic lancet is recognized globally and is been accepted due to convenience, which gives replacement over traditional method for vein puncture. It provides painless vein puncture, easy handling and safety while handling. The increase in prevalence of major chronic diseases and improvement in medical devices regulation increases the demand for plastic lancet over the forecast period. The manufacturers of plastic lancet are focusing on the development such as improve R&D facility and provide cost efficient advance lancet, which can be continuously used for some certain period.
Are you a start-up willing to make it big in the business? Grab an exclusive PDF Brochure of this report
Plastic Lancet Market: Dynamics
The demand for plastic lancet is expected to be driven by growing number of blood borne diseases across the globe. The increase in number of contagious and non-contagious diseases are the primary factor influencing the demand for plastic lancet during the forecast period. The increase in prevalence of diabetes and other infectious disease such as plague, viral fever and swine flu increase the process of blood sampling and drives the plastic lancet market. The increase risk associated with blood transfusion, and poor healthcare facility has restraints the growth of global plastic lancet market. The glucose test monitoring, hemoglobin test, and other such test are expected to witness an attractive growth during the forecast period. Growing availability of accurate lancet devices for collection of blood sample, painless, and easy to handle devices helps patient to determine the adjustment in diabetic management, thus it result in increased demand for plastic lancet over the forecast period. The macro economic factors such as increase in healthcare expenditure is expected to influence the demand for plastic lancet during the forecast period globally. Therefore the global plastic lancet market is expected to witness a healthy CAGR during the forecast period.
Expanding operations in future? To get the perfect launch ask for a custom report
Plastic Lancet Market: Segmentation
The global plastic lancet market is segmented as follows -
By Application Type, the global plastic lancet market is segmented into -
- Cholesterol Test
- Glucose Test
By Product Type, the global plastic lancet market is segmented into -
- Personal lancet
- Push button safety lancet
- Side button safety lancet
- Pressure activated safety lancet
By End user, the global plastic lancet market is segmented into -
- Diagnostic Centers
Plastic Lancet Market: Regional Outlook
The Europe is expected to witness a positive growth towards plastic lancet market during the forecast period. It is due to rise in prevalence of diabetes in Europe with around 60 million people are suffering from diabetes, according to WHO. North America is also expected to be the prominent market for plastic lancet, it is due to increasing need for diabetic diagnosis and increasing need for safe blood glucose test in hospitals. The Asia Pacific is expected to witness a healthy CAGR during the forecast period owing to increase in healthcare expenditure and low manufacturing cost and also low labor cost.
Recent Development in Global Plastic Lancet Market
- In 2017, Abbott Laboratories S.A. announced that it FreeStyle Libre Flash Glucose Monitoring System for adults is been approved by US Food and Drug Administration. This approval enhance the product offering of the company.
- In January 2017, Catalent Inc. collaborated with Roche on Smartag(TM) technology. It is a research collaboration that will help Roche on Smartag(TM) technology to develop new product.
Plastic Lancet Market: Key Players
Some of the leading players operating in the global plastic lancet market are as follows –
- Sarstedt AG & Co
- Guangzhou Improve Medical Instruments Co., Ltd
- Abbott Laboratories S.A.
- Becton Dickinson and Co
- F.L. Medical SRL
- Nipro Medical Corporation
- Terumo Corporation
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Regional analysis includes –
- North America
- Latin America
- Middle East and Africa (MEA)
- East Asia
- South Asia
- A detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth segmentation of the global plastic lancet market
- Historical, current, and projected size of the global plastic lancet market, regarding volume and value
- Recent industry trends and developments
- Competitive landscape in the global plastic lancet market strategies for key players operating in the protective fabrics and products offered by them
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on performance of the global plastic lancet market
- Must-have information for global plastic lancet market to sustain and enhance their market footprint
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?