The Global Vein Illuminator Market Size accounted for USD 171 Million in 2021 and is estimated to achieve a market size of USD 1,757 Million by 2030 growing at a CAGR of 30.0% from 2022 to 2030. The vein illuminator market is expected to grow due to the increased demand for simple vein visualization in geriatric, dark-skinned, obese, as well as neonatal patients. Furthermore, rising demand for intravenous drugs to treat a number of ailments is expected to propel the vein illuminator market growth.
Vein Illuminator Market Report Key Highlights
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.
Global Vein Illuminator Market Dynamics
Vein Illuminator Market Report Coverage
|Market||Vein Illuminator Market|
|Vein Illuminator Market Size 2021||USD 171 Million|
|Vein Illuminator Market Forecast 2030||USD 1,757 Million|
|Vein Illuminator Market CAGR During 2022 - 2030||30.0%|
|Vein Illuminator Market Analysis Period||2018 - 2030|
|Vein Illuminator Market Base Year||2021|
|Vein Illuminator Market Forecast Data||2022 - 2030|
|Segments Covered||By Technology, By Application, By End-Use, And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||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.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
The growing numbers of the geriatric and chronic disease population across the globe are supporting the vein illuminator market value. The increasing healthcare expenditure along with the increasing usage of vein illuminators in the healthcare sector is accelerating the vein illuminator market growth. The increasing success rate of blood draws at the 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 vein illuminator market trend. Furthermore, the increasing number of biometric banking applications is projected to create potential opportunities over the forecast period from 2022 to 2030.
On the other side, the preferences of traditional methods of vein detection are projected to restrict the growth to an extent over the estimated period from 2022 to 2030.
Vein Illuminator Market Segmentation
The global vein illuminator market segmentation is based on technology, application, end-use, and geography.
Vein Illuminator Market By Technology
In terms of technology, the infrared segment is expected to grow at a faster pace over the projection period. This expansion is mostly due to its capacity to penetrate profoundly located tissues, allowing visibility of the deep-seated vascular system. The venous blood absorbs the infrared light, and an exact picture of the underneath vein is displayed. Since near-infrared illumination is simple and inexpensive, it is extensively used in emergency circumstances.
Vein Illuminator Market By Application
According to the vein illuminator market forecast, the intravenous access segment is predicted to increase significantly in the market over the next few years. This increase is primarily attributable to factors such as increased demand for minimally invasive medical procedures such as venipuncture. Vein illuminators, which aid in the resolution of issues connected to faulty venipuncture, promote the growth of the intravenous access segment. Blood extraction is a time-consuming technique in both adolescent and elderly patients. Vein illuminators enhance patient comfort by removing the requirement for a second venipuncture.
Vein Illuminator Market By End-Use
According to the vein illuminator industry analysis, the hospital segment is projected to exhibit the fastest growth with major CAGR over the estimated period from 2022 to 2030. 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.
Vein Illuminator Market Regional Outlook
The Middle East & Africa (MEA)
Geographically, 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 2022 to 2030. 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 2022 to 2030. 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.
Vein Illuminator Market Players
Some of the top vein illuminator market companies offered in the professional report include 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.
The estimated value of global vein illuminator market in 2021 was accounted to be USD 171 Million.
The projected CAGR vein illuminator market during the analysis period of 2022 to 2030 is 30.0%.
The prominent players of the global vein illuminator market are 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.
North America held the dominating vein illuminator during the analysis period of 2022 to 2030.
Asia-Pacific region exhibited fastest growing CAGR for vein illuminator during the analysis period of 2022 to 2030.
Increase in phlebotomy/venipuncture procedures, and growing numbers of obese, geriatric, dark-skinned, & Medicaid patients, drives the growth of global vein illuminator market.
Based on end-use, hospitals segment is expected to hold the maximum share vein illuminator market.