Lancet Pen Needles Market use of drugs, surgery, medical equipment and other traumatic or reversibility in medical technology

 Europe Lancet Pen Needles Market – Overview

Lancets and pen needles are the vital part for different testing and drug administration. Lancets are introduced in 1992 for intent of obtaining blood samples for different test like allergy test, screening test, cholesterol test and many more. Diabetes is a lifestyle disorder occur due to lack of exercise, obesity and unhealthy food. As diabetes don’t have a proper cure, patient is to maintain the blood glucose level by means of therapy, exercise and balance diet. Lancets and pen needles are the devices used to monitor the blood glucose level. Pen needles are the upgraded version of syringes. They have many advantages over syringe like dose accuracy, easy to handle and easy to carry. Pen needles are the safest mean for delivery of insulin. Different sizes and shapes are available in the market which are used as per the requirement.

Competitive Analysis

During last few years, there is a significant increase in the patients suffering from diabetes and other chronic diseases. Many manufacturers are involved in the manufacturing of the lancets and pen needles, however, these companies are involved continuous development and updating of the devices. Introduction of the safety lancets has helped in acquiring the attention of the people. To gain the market major companies have adopted the strategy of product launch and acquisition to gain the market. Whereas, local companies are trying to reduce the cost of these products to gain the market.

Some of the key players in lancet pen needles market are:  Becton Dickinson and Company (US), Novo Nordisk (Denmark), Berpu Medical Technology Co., Ltd, Greiner Bio-One (Germany), Bayer (Germany), Roche Diagnostics (Switzerland), Terumo (Japan), Nipro Diagnostics (Japan), LifeScan (USA), BD (USA), Guangzhou Improve (China), KDL China (China), Liuyang Medical Instrument (China), SteriLance Medical (China), Huahong Technology (China).

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Latest Industry Updates

Being a competitive market, a number of different manufacturer are focusing on the product launch, and acquisition for the market development. Some of the latest development in the market are-

Becton, Dickinson and Company, an American medical technology company that manufactures and sells medical devices, instrument systems, and reagents. The company is listed in fortune 500. The company offers a number of products such as: Ultra-Fine Lancet, Automatic Injector, Safe-Clip Needle Clipping Device, Ultra-Fine Pen Needles, Magni-Guide Scale Magnifier and others. In October 2014, the company has acquired CareFusion and in April 2017, the company agreed to acquire C. R. Bard. This acquisition will surely increase the company revenues.

Owen Mumford, a leading medical device manufacturer, presented Unistik Touch at International Diabetes Federation World Diabetes Congress. The Unistik Touch is a touch activated lancet that features unique Comfort Zone Technology.

Lancets and pen needles market is increasing in recent year due to increase in the prevalence of different diseases and increasing biomedical tests. Increase in number of biomedical test like test for autoimmunity, allergy identification, hemostasis, toxicology, human genetics, cytogenetic and many more has increase the market for lancets. Patients are encourage to use self-use products because of lack of skilled professional and increase in awareness. According to the WHO, 9 % of Europe population which is 62 million people are suffering from diabetes while 25 million people are suffering from diabetes in Africa. Europe, the Middle East and Africa pen needles and lancets market is expected to grow at a CARG of 7.5 % during 2017 -2021. Increasing number of biomedical test is also responsible for increasing the market.

Regional Analysis

Europe holds the second position in the global market owing to the strong government support, increasing prevalence of diabetes and high healthcare expenditure. Europe is segmented into two major regions: Western Europe and Eastern Europe. Western Europe dominates the Europe lancet and pen needles market owing to the increase in the number of patient suffering from disease like diabetes, leukemia, HIV and other chronic diseases. Increasing different allergic test and toxicological test have a synergistic impact on the market growth. Various technological advances and increasing awareness among the people regarding the management of different diseases has also increased the Western Europe market. Additionally, the government in this region is supporting the manufacturer for research & development. However, Eastern Europe show the healthy growth due to developing economy and increasing healthcare expenditure.

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