Global Vein Illuminator Market, By Product Type (Table Top Devices, Hand Held Devices), Technology (Transillumination, Near Infrared Illumination, Ultrasound Technologies), Application (Intravenous Access, Blood Draw, Other Applications), End User (Hospitals, Rehabilitation Facilities, Blood Donation Camps, Academic Institutions, Other End Users) – Industry Trends and Forecast to 2029
Vein Illuminator Market Analysis and Size
The global vein illuminator market size is expected to reach USD 793.8 million by 2027, registering revenue based CAGR of 30.6% over the forecast period. The market is anticipated to expand as a result of rising demand for simple vein visualisation in obese, geriatric, dark-skinned, and neonatal patients. Additionally, it is projected that increased demand for intravenous medications to treat a variety of illnesses will further fuel the market for the vein illuminator.
Data Bridge Market Research analyses that the vein illuminator market which was USD 101.1 million in 2021, would rocket up to USD 874.17 million by 2029, and is expected to undergo a CAGR of 30.95% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Vein Illuminator Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Table Top Devices, Hand Held Devices), Technology (Transillumination, Near Infrared Illumination, Ultrasound Technologies), Application (Intravenous Access, Blood Draw, Other Applications), End User (Hospitals, Rehabilitation Facilities, Blood Donation Camps, Academic Institutions, Other End Users)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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AccuVein Inc. (U.S.), Christie Medical Holdings, Inc. (U.S.), Sharn Anesthesia (U.S.), iiSM Inc. (France), Near Infrared Imaging, Inc. (U.S.), TransLite LLC. (U.S.), Venoscope (U.S.), VueTek Scientific, LLC (U.S.), ZD Medical Inc. (China), AIMVEIN LTD (India), BLZ Technology (Wuhan) Co., Ltd (China), InfraRed Systems (U.S.), TransLite LLC (U.S.), VueTek Scientific, LLC (U.S.), ZD Medical, Inc. (China), Cambridge Medical Group (India), BK Medical Holding Company, Inc. (U.S.)
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Market Opportunities
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Market Definition
Vein illuminator can display a map of the superficial veins of any portion of the body on the skin's surface. Location, orientation, bifurcation, stenosis, pathological alterations, venous valve, venous sinus, venous gliding, hematoma, infusion fluid flow, and among others. of a vein are all graphically displayed. Vein visualization (also known as vein illumination) uses near-infrared (NIR) imaging for detecting veins. This proven technology enables accurate visualization of the veins under the skin.
Vein Illuminator Market Dynamics
Drivers
- Rising chronic diseases
The market for vein illuminators is expected to grow at a faster rate between 2022 and 2029 due to factors such as the rising number of patients with chronic diseases, the global geriatric population, the prevalence of advanced products after first-time success rates, and rising patient satisfaction.
- Rising medical equipments
The growing propensity of nurses and doctors to adopt cutting-edge medical equipment for treatment is the main factor propelling the market for vein illuminators. The rising investments in healthcare expenses are another element boosting the industry. The introduction of the new goods fuels the market for vein illuminators' expansion as well.
- Rising healthcare expenditures
The healthcare tools are very portable and aid in shortening the procedure's time and discomfort. Additionally, it can be challenging to find the veins in elderly, obese, and paediatric patients, which could ultimately result in incorrect intravenous drug access. Vein illuminator usage is anticipated to rise rapidly in small hospitals, emergency rooms, and ambulatory care facilities, fueling market expansion.
Opportunities
- Rise in drug development
The market is anticipated to increase as a result of the rising need for simple vein visualisation in neonates, elderly, patients with dark skin, and obese patients. Additionally, it is projected that rising demand for intravenous medications to treat a variety of illnesses would further fuel the product demand.
Restraints/Challenges
- High cost
On the other hand, the high cost associated with vein illuminator devices, lack of awareness about the product, availability of non-branded and cheap products in market will obstruct the market's growth rate. The dearth of skilled professionals and lack of healthcare infrastructure in developing economies will challenge the market.
Rising usages of traditional methods of vein detection will also hinder the growth of the vein illuminator market in the above mentioned forecast period.
This vein illuminator market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the vein illuminator market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- February 2, 2021, AccuVein Inc.'s announcement on the Infusion Nurses Society (INS) supports using NIR vein viewing equipment for venipuncture procedures to aid vein selection by evaluating peripheral venous systems.
- On July 23, 2020, ZD Medical Inc. enhanced their Vascular Positioning Vein Finder System to offer improved vein visualisation options.
Global Vein Illuminator Market Scope
The vein illuminator market is segmented on the basis of product type, technology, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Table Top Devices
- Hand Held Devices
Technology
- Transillumination
- Near Infrared Illumination
- Ultrasound Technologies
Application
- Intravenous Access
- Blood Draw
- Other Applications
End User
- Hospitals
- Rehabilitation Facilities
- Blood Donation Camps
- Academic Institutions
- Other End Users
Vein Illuminator Market Regional Analysis/Insights
The vein illuminator market is analysed and market size insights and trends are provided by country, product type, technology, application and end-user as referenced above.
The countries covered in the vein illuminator market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the vein illuminator market due to the prevalence of advanced and improved technology in ambulatory care centres and hospitals.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to the rising healthcare expenditure and adoption of advanced technology.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The vein illuminator market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for vein illuminator market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the vein illuminator market. The data is available for historic period 2010-2020.
Competitive Landscape and Vein Illuminator Market Share Analysis
The vein illuminator market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to vein illuminator market.
Some of the major players operating in the vein illuminator market are:
- AccuVein Inc. (U.S.)
- Christie Medical Holdings, Inc. (U.S.)
- Sharn Anesthesia (U.S.)
- iiSM Inc. (France)
- Near Infrared Imaging, Inc. (U.S.)
- TransLite LLC. (U.S.)
- Venoscope (U.S.)
- VueTek Scientific, LLC (U.S.)
- ZD Medical Inc. (China)
- AIMVEIN LTD (India)
- BLZ Technology (Wuhan) Co., Ltd (China)
- InfraRed Systems (U.S.)
- TransLite LLC (U.S.)
- VueTek Scientific, LLC (U.S.)
- ZD Medical, Inc. (China)
- Cambridge Medical Group (India)
- BK Medical Holding Company, Inc. (U.S.)
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