In terms of revenue, the Global Vein Illuminator Market is expected to reach USD 327.2 Million by 2028, growing at a Compound Annual Growth Rate (CAGR) of 30.10% from 2022 to 2028 Increasing usages of various technologies to precisely locate veins and projects their appearance on the skin are the driving factors for Vein Illuminator Market.
- Under the technology segment, the infrared illumination technology sub-segment is anticipated to dominate the segment for the Vein Illuminator market and grow at a substantial Compound Annual Growth Rate (CAGR). The growing demand for this segment is due to its ability of Vein Illuminator to pierce deeply located tissues, allowing the visualization of deep-seated blood vessels.
- The hospital sub-segment held a market significant share in 2021. This is the fastest segment growing in the vein illuminator market as Vein Illuminator is extensively used in clinics and hospitals for the diagnosis and treatment of patients.
- North America is the largest regional segment. This is due to the rising demand for technologically developed medical appliances in hospitals and ambulatory care camps.
Some of key players in Vein Illuminator Market includes - AccuVein, Inc., Christie Medical Holdings, Inc., Vuetek Scientific, LLC, Near Infrared Imaging, Inc., Venoscope, LLC.
Vein Illuminator market revenue is rising at a considerable rate, this is attributed to the increasing use of this device during the peripherally inserted central catheter practices in hospitals, as well as this device is used in sclerotherapy for treating varicose veins and spider veins.
The increasing number of innovative product launches with companies investing in Research and Development (R&D) for Vein Illuminator devices is attributed to the use of the device for the standard procedures of puncturing the vein in laboratories and blood donation camps. Thus, these are major factors estimated to drive the growth of the Vein Illuminator market.
North America is expected to emerge as potential market for Vein Illuminator Market. The existence of many companies that are, high awareness of the use of technologically advanced products for standard procedures such as collecting blood samples or inserting a PICC port. As well as an increase in the number of hospital entries and the rising geriatric population in the region are therefore driving the market growth of Vein Illuminators.