The rising prevalence of chronic diseases is one of the major factors propelling the demand for lancets across the world. There has been a huge increase in the occurrence rate of chronic obstructive pulmonary disease (COPD), diabetes, cardiovascular diseases (CVDs), and cancer across the globe over the last few years and this has considerably boosted the need for minimally invasive blood-drawing medical devices such as lancets. According to the World Health Organization (WHO), more than 235 million people around the world are suffering from asthma and 3 million deaths are caused each year, due to COPD.
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In healthcare settings, the lancets are used for coagulation testing, glucose testing, and hemoglobin testing. Out of these different testing applications, lancets registered the highest usage in glucose testing applications in 2019. This is mainly attributed to the rising number of diabetics across the world. According to the World Health Organization (WHO), almost 422 million people are suffering from this endocrine disorder across the globe and around 1.6 million die globally each year because of diabetes. Lancets are very important in managing diabetes, as these devices are used for measuring the blood glucose level.
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Across the world, the Asia-Pacific (APAC) region is expected to register the fastest growth in the adoption of lancets in the near future. This is primarily ascribed to the soaring geriatric population, improving healthcare infrastructure, rising prevalence of chronic diseases, increasing number of initiatives and measures being taken by the various public and private companies and organizations for increasing the awareness amongst the people about diabetes, and the rising spending power of the people in the region. For instance, as per the WHO, 90% of around 6 million diabetics in Southeast Asia are suffering from type 2 diabetes.
Thus, it can be concluded that due to the rising incidence of chronic diseases especially diabetes and the ballooning popularity of minimally invasive blood drawing medical devices, the demand for lancets will rise significantly across the world, over the next few years.
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