The global lancets market size was valued at USD 3.4 billion in 2019 and is expected to expand at a CAGR of 5.6% during the forecast period. The increasing incidence of diabetes, coupled with the availability of a wide range of products, is fueling market growth. Factors such as the rising preference for homecare, high incidence of infectious diseases, and increasing awareness about advanced diabetes management products are contributing to the market growth. Rising government expenditure and technological advancements in the field of diabetes management are expected to drive the market.