STERILE LANCETS MARKET ANALYSIS

Regional Analysis

Sterile Lancets Market - Regional Insights

North America holds the dominant position in the global sterile lancets market. According to the International Diabetes Federation (IDF), highest prevalence of diabetes (13% of population) is in the U.S. North America accounts for the highest amount of expenditure on diabetes. For instance, according to IDF report 2017, the U.S. spends around US$ 377 billion annually over diabetes disease treatment, which accounts for around 52% of the total expenditure on diabetes worldwide.

Moreover, there are 30.3 million people suffering from diabetes in the U.S. (9.4% of the US population), which includes 23.1 million people who are diagnosed and 7.2 million people who are undiagnosed.

Asia Pacific is expected to exhibit highest CAGR and create lucrative opportunities for the sterile lancet market over the forecast period due to highest number of diabetes patients in the region. According to IDF data, countries such as China (114.4 million) and India (72.9 million)) are amongst the top three economies having high prevalence of diabetes. Asia pacific had over 240 million diabetes patients in 2017. Europe is another lucrative region for the market, as it currently has the highest type1 diabetes population and the highest percentage of geriatric population.