Vein Illuminator Market
Vein Illuminator Market by Technology (Transillumination, Infrared, Ultrasound), by Application (Intravenous Access, Blood Draw, Others), by End Use (Hospitals, Blood Donation Camps, Academic Institutions, Others), by Region (North America, Latin America, Europe, Asia Pacific) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)
Market Snapshot
| Vein Illuminator Market Forecast Year: | 2022 - 2028 |
| Vein Illuminator Market Historical Year: | 2016 - 2021 |
| Vein Illuminator Market 2021: | USD 101.1 Million |
| Vein Illuminator Projected Market 2028: | USD 327.2 Million |
| Vein Illuminator Market CAGR: | 30.2% |
| Fastest Growing Region: | Asia Pacific |
| Largest Region: | North America |
Market Synopsis:
Global Vein Illuminator Market is valued at USD 101.1 Million in 2021 and is projected to attain a value of USD 327.2 Million by 2028 at a CAGR of 30.2% during the forecast period, 2022–2028. A vein finder, sometimes known as a Vein Illuminator, is a device that uses infrared light to discover subcutaneous veins. Vein Illuminator uses optical physics principles such differential light reflection, refraction, and tissue absorption to create a distinct image of the patient's vein structure. The Vein Illuminator creates a vibrant vein map, which aids in the success of invasive procedures such as injections.
Factors such as the rising number of elderly and chronically ill people, as well as rising healthcare costs, are driving the Vein Illuminator market. In addition, market expansion is expected to be fueled by the increasing use of Vein Illuminator in healthcare settings. Traditional approaches, on the other hand, are expected to stifle market expansion during the forecast period.
Highly Portable Device Will Escalate Market Growth
These gadgets are extremely portable and aid in the reduction of puncture time and pain. Furthermore, it is difficult to locate the veins of paediatric, geriatric, and obese patients, which could lead to incorrect intravenous medication access later. Vein Illuminator are likely to see rapid acceptance in small hospitals, emergency departments, and ambulatory care clinics, propelling the market forward.
These illumination devices are frequently used in end-use segments such as hospitals to promote patient convenience. Valley Hospital in Ridgewood purchased Vein Illuminator in June 2016 to make the process of IV insertion and blood drawing easier, as well as to improve IV medicine administration. Because these devices are non-invasive, they have a higher approval rate in different nations. Furthermore, the device's inclusion of numerous technologies aids in detailed imaging of the vein structure, allowing it to be used in a variety of applications including blood draws, venipuncture, vascular treatments, aesthetic procedures, and other medical procedures. However, significant research and development costs, as well as a low adoption rate in low-income nations, are projected to hinder the industry's expansion.
Market Segmentation:
The Global Vein Illuminator Market can be segmented by Technology into Transillumination, Infrared and Ultrasound. Based on Application, Intravenous Access, Blood Draw and Others. Based on End Use, Hospitals, Blood Donation Camps, Academic Institutions and Others. Based on Region, the Vein Illuminator Market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
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Owing to its potential to penetrate deeply placed tissues and allow observation of deep-seated blood vessels, the infrared illumination technology market is predicted to increase at the quickest rate. The venous blood absorbs the infrared radiation, allowing an accurate image of the underlying vein to be displayed. Near-infrared illumination is simple and inexpensive to use, making it a popular choice in emergency situations. The market's players are concentrating on producing gadgets that incorporate infrared illumination technology. This technology is used by the AccuVein vein finder to image the veins.
North America to Continue Dominating the Vein Illuminator Market
Geographically, North America is predicted to develop rapidly, owing to hospital demand for innovative medical devices, the existence of large Vein Illuminator manufacturers, and the growing relevance of patient satisfaction. In terms of CAGR, Asia-Pacific is likely to trail North America. The region's rapid growth of Vein Illuminator can be ascribed to countries like Japan and Australia adopting the technology more quickly. These countries' healthcare systems are technologically advanced and comparable to those in North America. However, these countries have a far lower total number of hospitals than the United States. As a result, the pace of Vein Illuminator adoption is likely to be lower than in North America.
Key Players:
Some of the players are AccuVein, Inc., Christie Medical Holdings, Inc., Vuetek Scientific, LLC, Near Infrared Imaging, Inc., Venoscope, LLC.
Vein Illuminator Market is segmented as follows:
Vein Illuminator Market is tabulated as follows:
Parameter
Details
Market Size Provided for Years
2016-2028
Base Year
2021
Historic Years
2016-2020
Forecast Years
2022-2028
Segments Covered
Region & Counties Covered
Companies Covered
Report Coverage
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST
analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market
attractiveness analysis by segments and North America, company market share analysis, and COVID-19
impact analysis
Frequently Asked Questions
-
What is
the global demand for Vein Illuminator
in terms of revenue?
The global Vein Illuminator valued at USD 101.1 Million in 2020 and is expected to reach USD 327.2 Million in 2028 growing at a CAGR of 30.2%
-
Which
are the prominent players
in the market?
The prominent players in the market are AccuVein, Inc., Christie Medical Holdings, Inc., Vuetek Scientific, LLC, Near Infrared Imaging, Inc., Venoscope, LLC.
-
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 30.2% between 2021 and 2028.
-
What are
the driving factors
fueling the growth of the market.
The driving factors of the Vein Illuminator include
- Highly Portable Device
-
Which
region accounted for the
largest share in the market?
North America was the leading regional segment of the Vein Illuminator in 2020.
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