Vein Illuminator Market (By Technology: Transillumination, Infrared, Ultrasound, Application, Intravenous Access, Blood Draw, Others; By End-Use: Hospitals, Blood Donation Camps, Academic Institutions, Others) - Global Industry Analysis, Market Size, Opportunities And Forecast 2020 - 2027

Category : Healthcare and Pharmaceuticals | Delivery Format : PDF | Status: Published | Pages : 190

The market for vein illuminator is expected to grow at a CAGR of around 30.4% from 2020 to 2027 and expected to reach the market value of around US$ 774.1 Mn by 2027.

Vein illuminator is used to provide a real-time accurate image of the vasculature on the skin surface and help clinicians and nurses to verify the vein status and reduces the risk of mal puncture. The handheld vein illuminators are easy to carry with no patient contact.

Market Dynamics

The growing numbers of the geriatric and chronic disease population across the globe is supporting the market value. The increasing healthcare expenditure along with the increasing usage of vein illuminator in the healthcare sector is accelerating market growth. The increasing success rate of blood draw at first attempt with the help of vein illuminators is further propelling the demand in the market. The increased patient satisfaction due to reduced risk of mal puncture is additionally boosting the market value. Furthermore, the increasing biometric banking applications are projected to create potential opportunities over the forecast period from 2020 to 2027.

On the other side, the preferences of traditional methods of vein detection is projected to restrict the growth to an extent over the estimated period from 2020 to 2027.

Hospitals segment is anticipated to experience major growth over the forecast period from 2020 to 2027

By end-use, the hospital segment is projected to exhibit the fastest growth with major CAGR (%) over the estimated period from 2020 to 2027. The increasing number of hospitals across the globe is primarily supporting the market value. The increasing demand for advanced devices in hospitals by healthcare professionals to increase patient comfort and safety is further supporting the segmental market value. The increasing government support for the development of new and advanced hospitals in developing economies across the globe is further accelerating the segmental market value. The emerging economies along with their increasing per capita income are propelling the segmental market value.

North America dominated the Vein Illuminator market with major share in 2019

In 2019, North America held the maximum share in terms of revenue in the vein illuminator market and the region is also projected to maintain its dominance during the estimated period from 2020 to 2027. The well-established healthcare infrastructure coupled with the easy availability of advanced facilities for the patients is supporting the regional market value. The presence of major players in the region is also contributing to the regional market value.  The high use of technologically advanced devices or systems for the treatment of routine procedures such as inserting the PICC port or the collection of the blood samples is further contributing to the regional market value. Moreover, Asia Pacific is projected to exhibit the fastest growth with major CAGR (%) over the forecast period from 2020 to 2027. The rising awareness among healthcare professionals about the usage of advanced healthcare devices and systems for routine treatment is supporting the regional market growth. The increasing spending on healthcare facilities by the people due to increasing disposable income is additionally accelerating market growth.

The players profiled in the report include Accuvein Inc. (US), Christie Medical Holdings, Inc., Sharn Anesthesia, Infrared Imaging Systems, Inc., Near Infrared Imaging Inc., Translite LLC (US), Venoscope, LLC, Vuetek Scientific LLC., ZD Medical Inc., and Cambridge Medical (Asia) Private Ltd. The major vein illuminator players were involved in strategic developments for escalating the profit share in regional as well as the global market. The major investments were announced for the technological advancements associated with the changing consumer demand for vein illuminator.

Market Segmentation

Market By Technology

Transillumination

Infrared

Ultrasound

Application

Intravenous Access

Blood Draw

Others

Market By End-Use

Hospitals

Blood Donation Camps

Academic Institutions

Others

Market By Geography

North America

  • U.S.
  • Canada

Europe

  • U.K.
  • Germany
  • France
  • Spain
  • Rest of Europe

Asia-Pacific

  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia-Pacific

Latin America

  • Brazil
  • Mexico
  • Rest of Latin America

Middle East & Africa

  • GCC
  • South Africa
  • Rest of Middle East & Africa


Frequently Asked Questions

The market for vein illuminator is expected to reach a market value of around US$ 774.1 Mn by 2027.

The vein illuminator market is expected to grow at a CAGR of around 30.4% from 2020 to 2027.

Hospitals is the fastest growing segment by end-use in the vein illuminator market.

The growing numbers of the geriatric and chronic sick population, increasing healthcare expenditure, increasing usage of vein illuminator in healthcare sector, increasing success rate of blood draw at first attempt, and increased patient satisfaction due to reduced risk of malpuncture are some of the factors driving the global vein illuminator market.

Accuvein Inc., Christie Medical Holdings, Inc., Sharn Anesthesia, Infrared Imaging Systems, Inc., Near Infrared Imaging Inc., Translite LLC, Venoscope LLC, Vuetek Scientific LLC, ZD Medical Inc., and Cambridge Medical (Asia) Private Ltd are the prominent players in the market.

North America held the highest market share in the vein illuminator market.

Asia Pacific is expected to be the fastest growing market over the forecast period.

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