Portland, OR, April 14, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Blood Lancets Industry contributed to $901.30 million in 2018, and is projected to reach $1.84 billion by 2026, registering a CAGR of 9.4% from 2019 to 2026. The research provides a comprehensive analysis of changing market trends, key segments, business performance, key winning strategies, and competitive scenario.
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Rise in coincidence of chronic diseases such as diabetes, hyperlipidemia, and dyslipidemia, preference for home care diagnostics, and surge in reimbursement regulations fuel the growth of global blood lancets market. However, lack of awareness regarding homecare lancets in developing countries restrains the market growth up to certain extent. On the other hand, supportive government regulations and potential in emerging nations offer new opportunities in coming years.
On the basis of type, the standard lancets segment held the highest share in 2018, accounting for more than half of the total market share, and is estimated to maintain its highest contribution throughout the forecast period. This is due to technological developments resulting in improved performance related to & wound healing, lesser costs, and integration with other components. On the other hand, the safety blood lancets segment is estimated to grow at the largest CAGR of 10.2% during the forecast period.
Based on end user, the homecare segment accounted for nearly two-fifths of the total market share in 2018, and is expected to maintain its dominance by 2026. However, the blood banks segment is expected to witness the highest CAGR of 10.3% from 2019 to 2026.
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Based on region, Asia-Pacific accounted for the largest market share, holding for more than one-third of total share of the global blood lancets market in 2018, and is projected to maintain its top contribution by 2026. Moreover, this region would portray the highest growth rate with a CAGR of 10.5% during the forecast period. However, North America accounted for the second highest position on the basis of revenue, contributing to more than one-fourth of the total market share in 2018, and will maintain its position by 2026.
Leading market players analyzed in the research include Becton, Dickinson & Company, Improve Medical, Terumo Corporation, Sarstedt AG & Co., F.L. Medical SRL, Medtronic plc, Haemonetics Corporation, Shangdong Lianfa Medical, Nipro Medical Corporation, and Abbott Laboratories.
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