The Diabetic Lancing Device Market is expected to register a CAGR of 9.8% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by Type (Safety Lancets, Standard Lancets). The report further presents analysis based on Gauge (17/18g, 21g, 23g, Others). The report is further segmented based on Penetration Depth (0.8 Mm To 1.0 Mm, 1.1 Mm To 1.5 Mm, 1.6 Mm To 2.0 Mm, Others). Futher, it is segmented based on End User (Hospitals And Clinics, Home Care And Home Diagnostics, Diagnostic Centers And Medical Institutions, Research And Academic Laboratories, Others). The global analysis is further broken-down at regional level and major countries. The report offers the value in USD for the above analysis and segments.
Purpose of the ReportThe report Diabetic Lancing Device Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Diabetic Lancing Device Market Segmentation
Type- Safety Lancets
- Standard Lancets
- 17/18g
- 21g
- 23g
- Others
- 0.8 Mm To 1.0 Mm
- 1.1 Mm To 1.5 Mm
- 1.6 Mm To 2.0 Mm
- Others
- Hospitals And Clinics
- Home Care And Home Diagnostics
- Diagnostic Centers And Medical Institutions
- Research And Academic Laboratories
- Others
Strategic Insights
Diabetic Lancing Device Market Growth Drivers- Rise in Diabetic Patients: Advancements in diabetic patients across the globe give rise to growth in the diabetic lancing device market. More and more people are getting into a daily practice of monitoring their blood glucose, demanding an effortless, comfortable, yet efficient lancing device. This is reflective of the ability to control diabetes along with the need for innovative management tools. Thus, this improves patient consistency in following the monitoring regimen.
- Technological Advancement: Innovation in lancing device technology involves improved safety mechanisms and pain-reduction techniques that drive the market. Further, newer lancing devices contain depth adjustment settings and ergonomic handles, thereby making blood sampling less painful and easier to execute. The resultant benefits would be an enhanced user experience and consistent monitoring.
- Escalation of Self-Monitoring: Increased pressure on the aspect of self-management by diabetes care is growing higher, thereby increasing the demand for diabetic lancing devices. It is because most of these patients have become actively involved in managing their health and look for reliable instruments to test their blood glucose levels regularly. This inclination reveals a larger shift in equipping patients with the appropriate tools necessary for the efficient management of diabetes.
- Smart Technology Integration: Diabetic lancing devices have seen incredible integration of smart technology. Devices carrying built-in Bluetooth connectivity synchronize the data with mobile applications and allow proper tracking of blood glucose levels and trends. In that way, innovation brings greater user engagement and informs decision-making in diabetes management.
- Needle-Free Lancing Solutions: There have recently been needle-free lancing devices; thus, much potential is expected in their development to catch the eyes of patients seeking pain-free alternatives. These devices employ many advanced technologies that can extract blood without the ever-present needles, usually leading to discomfort and anxiety. Thus, this trend shows more demand for user-friendly solutions to improve the overall experience of blood glucose monitoring.
- Personalized Lancing Devices: This is because now the whole world can see how individual lancing devices are emerging because a patient is treated as an individual with his needs and preferences. As a result, such features are in demand like depth adjustment and ergonomic designs to provide more comfort and ease of usage. Hence, the umbrella embracing the patient-centric approach for diabetes care becomes even more enormous practice by a person to get used to monitoring practices.
- Advancements in Health Awareness and Education: Increased awareness about diabetes and its care has been the primary driver for lancing devices. Educational programs designed to promote the treatment through regular monitoring increase the acceptance and use of lancing devices by patients. All this can lead to greater proactivity and health management and thus propel demand for effective blood sampling solutions.
- Eco-Friendly and Sustainable Options: The increased concern for the environment is causing a lot of people to trend toward eco-friendly, sustainable products. This diabetic lancing device is a result of environmental awareness, where consumers seek manufacturers' eco-friendly products- biodegradable material and design recyclable is a part of this trend. The movement involves more extensive sustainability; patients advocating for an eco-friendly lifestyle in their healthcare products are included in this wave.
- Focus on Preventative Care Solutions: With rising interest in preventive health care, the diabetic lancing devices themselves will find opportunities in the platform of early detection and observation. Manufacturers can raise usage among at-risk populations by supporting regular blood glucose testing in preventive care settings.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Diabetic Lancing Device Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Diabetic Lancing Device Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The major factors driving the diabetic lancing device market are:
1. Rise in Diabetic Patients.
2. Escalation of Self-Monitoring.
North America region accounts for highest revenue share in diabetic lancing device market.
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2023 - 2031).
The diabetic lancing device market is expected to grow at a CAGR of 9.8%.
The final report will duly include market size and projection estimates for all the segments from 2021 to 2031, along with a revenue share and compound annual growth rate (%) for the regional/country-wise market wherein 2021-2022 are the historic years, 2023 is considered to be the base year, and the forecast will be provided till 2031, along with CAGR (%).
Abbott Laboratories, B. Braun Melsungen AG, and Becton Dickinson are the major companies operating in the diabetic lancing device market.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Diabetic Lancing Device Market - By Type
1.3.2 Diabetic Lancing Device Market - By Gauge
1.3.3 Diabetic Lancing Device Market - By Penetration Depth
1.3.4 Diabetic Lancing Device Market - By End User
1.3.5 Diabetic Lancing Device Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. DIABETIC LANCING DEVICE MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. DIABETIC LANCING DEVICE MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. DIABETIC LANCING DEVICE MARKET - GLOBAL MARKET ANALYSIS
6.1. DIABETIC LANCING DEVICE - GLOBAL MARKET OVERVIEW
6.2. DIABETIC LANCING DEVICE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. DIABETIC LANCING DEVICE MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. SAFETY LANCETS
7.3.1. Overview
7.3.2. safety lancets Market Forecast and Analysis
7.4. STANDARD LANCETS
7.4.1. Overview
7.4.2. standard lancets Market Forecast and Analysis
8. DIABETIC LANCING DEVICE MARKET - REVENUE AND FORECASTS TO 2028 - GAUGE
8.1. OVERVIEW
8.2. GAUGE MARKET FORECASTS AND ANALYSIS
8.3. 17/18G
8.3.1. Overview
8.3.2. 17/18g Market Forecast and Analysis
8.4. 21G
8.4.1. Overview
8.4.2. 21g Market Forecast and Analysis
8.5. 23G
8.5.1. Overview
8.5.2. 23g Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. others Market Forecast and Analysis
9. DIABETIC LANCING DEVICE MARKET - REVENUE AND FORECASTS TO 2028 - PENETRATION DEPTH
9.1. OVERVIEW
9.2. PENETRATION DEPTH MARKET FORECASTS AND ANALYSIS
9.3. 0.8 MM TO 1.0 MM
9.3.1. Overview
9.3.2. 0.8 mm to 1.0 mm Market Forecast and Analysis
9.4. 1.1 MM TO 1.5 MM
9.4.1. Overview
9.4.2. 1.1 mm to 1.5 mm Market Forecast and Analysis
9.5. 1.6 MM TO 2.0 MM
9.5.1. Overview
9.5.2. 1.6 mm to 2.0 mm Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. others Market Forecast and Analysis
10. DIABETIC LANCING DEVICE MARKET - REVENUE AND FORECASTS TO 2028 - END USER
10.1. OVERVIEW
10.2. END USER MARKET FORECASTS AND ANALYSIS
10.3. HOSPITALS AND CLINICS
10.3.1. Overview
10.3.2. hospitals and clinics Market Forecast and Analysis
10.4. HOME CARE AND HOME DIAGNOSTICS
10.4.1. Overview
10.4.2. home care and home diagnostics Market Forecast and Analysis
10.5. DIAGNOSTIC CENTERS AND MEDICAL INSTITUTIONS
10.5.1. Overview
10.5.2. diagnostic centers and medical institutions Market Forecast and Analysis
10.6. RESEARCH AND ACADEMIC LABORATORIES
10.6.1. Overview
10.6.2. research and academic laboratories Market Forecast and Analysis
10.7. OTHERS
10.7.1. Overview
10.7.2. others Market Forecast and Analysis
11. DIABETIC LANCING DEVICE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Diabetic Lancing Device Market Overview
11.1.2 North America Diabetic Lancing Device Market Forecasts and Analysis
11.1.3 North America Diabetic Lancing Device Market Forecasts and Analysis - By Type
11.1.4 North America Diabetic Lancing Device Market Forecasts and Analysis - By Gauge
11.1.5 North America Diabetic Lancing Device Market Forecasts and Analysis - By Penetration Depth
11.1.6 North America Diabetic Lancing Device Market Forecasts and Analysis - By End User
11.1.7 North America Diabetic Lancing Device Market Forecasts and Analysis - By Countries
11.1.7.1 United States Diabetic Lancing Device Market
11.1.7.1.1 United States Diabetic Lancing Device Market by Type
11.1.7.1.2 United States Diabetic Lancing Device Market by Gauge
11.1.7.1.3 United States Diabetic Lancing Device Market by Penetration Depth
11.1.7.1.4 United States Diabetic Lancing Device Market by End User
11.1.7.2 Canada Diabetic Lancing Device Market
11.1.7.2.1 Canada Diabetic Lancing Device Market by Type
11.1.7.2.2 Canada Diabetic Lancing Device Market by Gauge
11.1.7.2.3 Canada Diabetic Lancing Device Market by Penetration Depth
11.1.7.2.4 Canada Diabetic Lancing Device Market by End User
11.1.7.3 Mexico Diabetic Lancing Device Market
11.1.7.3.1 Mexico Diabetic Lancing Device Market by Type
11.1.7.3.2 Mexico Diabetic Lancing Device Market by Gauge
11.1.7.3.3 Mexico Diabetic Lancing Device Market by Penetration Depth
11.1.7.3.4 Mexico Diabetic Lancing Device Market by End User
11.2. EUROPE
11.2.1 Europe Diabetic Lancing Device Market Overview
11.2.2 Europe Diabetic Lancing Device Market Forecasts and Analysis
11.2.3 Europe Diabetic Lancing Device Market Forecasts and Analysis - By Type
11.2.4 Europe Diabetic Lancing Device Market Forecasts and Analysis - By Gauge
11.2.5 Europe Diabetic Lancing Device Market Forecasts and Analysis - By Penetration Depth
11.2.6 Europe Diabetic Lancing Device Market Forecasts and Analysis - By End User
11.2.7 Europe Diabetic Lancing Device Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Diabetic Lancing Device Market
11.2.7.1.1 Germany Diabetic Lancing Device Market by Type
11.2.7.1.2 Germany Diabetic Lancing Device Market by Gauge
11.2.7.1.3 Germany Diabetic Lancing Device Market by Penetration Depth
11.2.7.1.4 Germany Diabetic Lancing Device Market by End User
11.2.7.2 France Diabetic Lancing Device Market
11.2.7.2.1 France Diabetic Lancing Device Market by Type
11.2.7.2.2 France Diabetic Lancing Device Market by Gauge
11.2.7.2.3 France Diabetic Lancing Device Market by Penetration Depth
11.2.7.2.4 France Diabetic Lancing Device Market by End User
11.2.7.3 Italy Diabetic Lancing Device Market
11.2.7.3.1 Italy Diabetic Lancing Device Market by Type
11.2.7.3.2 Italy Diabetic Lancing Device Market by Gauge
11.2.7.3.3 Italy Diabetic Lancing Device Market by Penetration Depth
11.2.7.3.4 Italy Diabetic Lancing Device Market by End User
11.2.7.4 Spain Diabetic Lancing Device Market
11.2.7.4.1 Spain Diabetic Lancing Device Market by Type
11.2.7.4.2 Spain Diabetic Lancing Device Market by Gauge
11.2.7.4.3 Spain Diabetic Lancing Device Market by Penetration Depth
11.2.7.4.4 Spain Diabetic Lancing Device Market by End User
11.2.7.5 United Kingdom Diabetic Lancing Device Market
11.2.7.5.1 United Kingdom Diabetic Lancing Device Market by Type
11.2.7.5.2 United Kingdom Diabetic Lancing Device Market by Gauge
11.2.7.5.3 United Kingdom Diabetic Lancing Device Market by Penetration Depth
11.2.7.5.4 United Kingdom Diabetic Lancing Device Market by End User
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Diabetic Lancing Device Market Overview
11.3.2 Asia-Pacific Diabetic Lancing Device Market Forecasts and Analysis
11.3.3 Asia-Pacific Diabetic Lancing Device Market Forecasts and Analysis - By Type
11.3.4 Asia-Pacific Diabetic Lancing Device Market Forecasts and Analysis - By Gauge
11.3.5 Asia-Pacific Diabetic Lancing Device Market Forecasts and Analysis - By Penetration Depth
11.3.6 Asia-Pacific Diabetic Lancing Device Market Forecasts and Analysis - By End User
11.3.7 Asia-Pacific Diabetic Lancing Device Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Diabetic Lancing Device Market
11.3.7.1.1 Australia Diabetic Lancing Device Market by Type
11.3.7.1.2 Australia Diabetic Lancing Device Market by Gauge
11.3.7.1.3 Australia Diabetic Lancing Device Market by Penetration Depth
11.3.7.1.4 Australia Diabetic Lancing Device Market by End User
11.3.7.2 China Diabetic Lancing Device Market
11.3.7.2.1 China Diabetic Lancing Device Market by Type
11.3.7.2.2 China Diabetic Lancing Device Market by Gauge
11.3.7.2.3 China Diabetic Lancing Device Market by Penetration Depth
11.3.7.2.4 China Diabetic Lancing Device Market by End User
11.3.7.3 India Diabetic Lancing Device Market
11.3.7.3.1 India Diabetic Lancing Device Market by Type
11.3.7.3.2 India Diabetic Lancing Device Market by Gauge
11.3.7.3.3 India Diabetic Lancing Device Market by Penetration Depth
11.3.7.3.4 India Diabetic Lancing Device Market by End User
11.3.7.4 Japan Diabetic Lancing Device Market
11.3.7.4.1 Japan Diabetic Lancing Device Market by Type
11.3.7.4.2 Japan Diabetic Lancing Device Market by Gauge
11.3.7.4.3 Japan Diabetic Lancing Device Market by Penetration Depth
11.3.7.4.4 Japan Diabetic Lancing Device Market by End User
11.3.7.5 South Korea Diabetic Lancing Device Market
11.3.7.5.1 South Korea Diabetic Lancing Device Market by Type
11.3.7.5.2 South Korea Diabetic Lancing Device Market by Gauge
11.3.7.5.3 South Korea Diabetic Lancing Device Market by Penetration Depth
11.3.7.5.4 South Korea Diabetic Lancing Device Market by End User
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Diabetic Lancing Device Market Overview
11.4.2 Middle East and Africa Diabetic Lancing Device Market Forecasts and Analysis
11.4.3 Middle East and Africa Diabetic Lancing Device Market Forecasts and Analysis - By Type
11.4.4 Middle East and Africa Diabetic Lancing Device Market Forecasts and Analysis - By Gauge
11.4.5 Middle East and Africa Diabetic Lancing Device Market Forecasts and Analysis - By Penetration Depth
11.4.6 Middle East and Africa Diabetic Lancing Device Market Forecasts and Analysis - By End User
11.4.7 Middle East and Africa Diabetic Lancing Device Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Diabetic Lancing Device Market
11.4.7.1.1 South Africa Diabetic Lancing Device Market by Type
11.4.7.1.2 South Africa Diabetic Lancing Device Market by Gauge
11.4.7.1.3 South Africa Diabetic Lancing Device Market by Penetration Depth
11.4.7.1.4 South Africa Diabetic Lancing Device Market by End User
11.4.7.2 Saudi Arabia Diabetic Lancing Device Market
11.4.7.2.1 Saudi Arabia Diabetic Lancing Device Market by Type
11.4.7.2.2 Saudi Arabia Diabetic Lancing Device Market by Gauge
11.4.7.2.3 Saudi Arabia Diabetic Lancing Device Market by Penetration Depth
11.4.7.2.4 Saudi Arabia Diabetic Lancing Device Market by End User
11.4.7.3 U.A.E Diabetic Lancing Device Market
11.4.7.3.1 U.A.E Diabetic Lancing Device Market by Type
11.4.7.3.2 U.A.E Diabetic Lancing Device Market by Gauge
11.4.7.3.3 U.A.E Diabetic Lancing Device Market by Penetration Depth
11.4.7.3.4 U.A.E Diabetic Lancing Device Market by End User
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Diabetic Lancing Device Market Overview
11.5.2 South and Central America Diabetic Lancing Device Market Forecasts and Analysis
11.5.3 South and Central America Diabetic Lancing Device Market Forecasts and Analysis - By Type
11.5.4 South and Central America Diabetic Lancing Device Market Forecasts and Analysis - By Gauge
11.5.5 South and Central America Diabetic Lancing Device Market Forecasts and Analysis - By Penetration Depth
11.5.6 South and Central America Diabetic Lancing Device Market Forecasts and Analysis - By End User
11.5.7 South and Central America Diabetic Lancing Device Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Diabetic Lancing Device Market
11.5.7.1.1 Brazil Diabetic Lancing Device Market by Type
11.5.7.1.2 Brazil Diabetic Lancing Device Market by Gauge
11.5.7.1.3 Brazil Diabetic Lancing Device Market by Penetration Depth
11.5.7.1.4 Brazil Diabetic Lancing Device Market by End User
11.5.7.2 Argentina Diabetic Lancing Device Market
11.5.7.2.1 Argentina Diabetic Lancing Device Market by Type
11.5.7.2.2 Argentina Diabetic Lancing Device Market by Gauge
11.5.7.2.3 Argentina Diabetic Lancing Device Market by Penetration Depth
11.5.7.2.4 Argentina Diabetic Lancing Device Market by End User
12. IMPACT OF COVID-19 PANDEMIC ON GLOBAL DIABETIC LANCING DEVICE MARKET
12.1 North America
12.2 Europe
12.3 Asia-Pacific
12.4 Rest of the World
13. INDUSTRY LANDSCAPE
13.1. MERGERS AND ACQUISITIONS
13.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
13.3. NEW PRODUCT LAUNCHES
13.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
14. DIABETIC LANCING DEVICE MARKET, KEY COMPANY PROFILES
14.1. ABBOTT LABORATORIES
14.1.1. Key Facts
14.1.2. Business Description
14.1.3. Products and Services
14.1.4. Financial Overview
14.1.5. SWOT Analysis
14.1.6. Key Developments
14.2. B. BRAUN MELSUNGEN AG
14.2.1. Key Facts
14.2.2. Business Description
14.2.3. Products and Services
14.2.4. Financial Overview
14.2.5. SWOT Analysis
14.2.6. Key Developments
14.3. BAYER AG
14.3.1. Key Facts
14.3.2. Business Description
14.3.3. Products and Services
14.3.4. Financial Overview
14.3.5. SWOT Analysis
14.3.6. Key Developments
14.4. BECTON DICKINSON
14.4.1. Key Facts
14.4.2. Business Description
14.4.3. Products and Services
14.4.4. Financial Overview
14.4.5. SWOT Analysis
14.4.6. Key Developments
14.5. ELI LILLY AND COMPANY
14.5.1. Key Facts
14.5.2. Business Description
14.5.3. Products and Services
14.5.4. Financial Overview
14.5.5. SWOT Analysis
14.5.6. Key Developments
14.6. F. HOFFMANN-LA ROCHE AG
14.6.1. Key Facts
14.6.2. Business Description
14.6.3. Products and Services
14.6.4. Financial Overview
14.6.5. SWOT Analysis
14.6.6. Key Developments
14.7. HTL-STREFA S.A
14.7.1. Key Facts
14.7.2. Business Description
14.7.3. Products and Services
14.7.4. Financial Overview
14.7.5. SWOT Analysis
14.7.6. Key Developments
14.8. MEDTRONIC
14.8.1. Key Facts
14.8.2. Business Description
14.8.3. Products and Services
14.8.4. Financial Overview
14.8.5. SWOT Analysis
14.8.6. Key Developments
14.9. NOVO NORDISK A/S OWEN MUMFORD LTD
14.9.1. Key Facts
14.9.2. Business Description
14.9.3. Products and Services
14.9.4. Financial Overview
14.9.5. SWOT Analysis
14.9.6. Key Developments
14.10. SANOFI
14.10.1. Key Facts
14.10.2. Business Description
14.10.3. Products and Services
14.10.4. Financial Overview
14.10.5. SWOT Analysis
14.10.6. Key Developments
14.11. SARSTEDT AG AND CO
14.11.1. Key Facts
14.11.2. Business Description
14.11.3. Products and Services
14.11.4. Financial Overview
14.11.5. SWOT Analysis
14.11.6. Key Developments
14.12. TERUMO CORPORATION
14.12.1. Key Facts
14.12.2. Business Description
14.12.3. Products and Services
14.12.4. Financial Overview
14.12.5. SWOT Analysis
14.12.6. Key Developments
14.13. YPSOMED HOLDING AG
14.13.1. Key Facts
14.13.2. Business Description
14.13.3. Products and Services
14.13.4. Financial Overview
14.13.5. SWOT Analysis
14.13.6. Key Developments
15. APPENDIX
15.1. ABOUT THE INSIGHT PARTNERS
15.2. GLOSSARY OF TERMS
1. Abbott Laboratories,
2. B. Braun Melsungen AG
3. Bayer AG
4. Becton Dickinson
5. Eli Lilly and Company
6. F. Hoffmann-La Roche AG
7. HTL-STREFA S.A
8. Medtronic
9. Novo Nordisk A/S Owen Mumford Ltd
10. Sanofi
11. Sarstedt AG & Co
12. Terumo Corporation
13. Ypsomed Holding AG
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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