by The global Global Vein Illumination Devices Market comprises medical devices that consist of near-infrared light and cameras to make the veins visible underneath the skin. Vein viewers or vein finders aid to visualize the veins easily and safely during venous access procedures such as venipuncture or cannulation. They are used in different clinical settings such as hospitals, blood donation centers, IV hydration clinics, and emergency medical services to assist healthcare professionals in finding veins efficiently.
The global Global Vein Illumination Devices Market was valued at US$ 608.8 million in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by CoherentMI.
Market Dynamics:
The increasing number of patients suffering from chronic diseases such as heart diseases, diabetes, chronic venous insufficiency and other vascular disorders which require intravenous therapy or venipuncture procedures is fueling the demand for Global Vein Illumination Devices Market globally. According to the World Health Organization (WHO), cardiovascular diseases account for over 17.9 million deaths every year which equates to 32% of all deaths globally. The increasing incidences of chronic vascular conditions including peripheral artery disease, venous reflux disease, and deep vein thrombosis etc. are further boosting the need for early diagnosis and effective treatment including intravenous therapies which require clear visualization of veins. Technologically advanced vein finders offering superior visualization, portability and ease of use are gaining significant popularity among healthcare professionals. Manufacturers are focusing on new product launches integrated with advanced technologies like infrared lights, high definition cameras and intuitive software interfaces which is propelling the overall market growth.
Segment Analysis
The global Global Vein Illumination Devices Market is dominated by transillumination sub segment. Transillumination segment holds around 60% market share owing to benefits such as non-invasive nature and ability to easily locate veins even for patients with darker skin. It is widely used by nurses and phlebotomists for intravenous access in hospitals, clinics and blood donation centers.
Global Global Vein Illumination Devices Market Segmentation
By Technology
Infrared radiation
Transillumination
Ultrasound
Others
By Application
Intravenous access
Blood draw
Surgery
Others
By End User
Hospitals
Blood donation camps
Academic institutions (Research, Academic Institutes, etc.)
Others
By Region
North America
Europe
Asia Pacific
Latin America
Middle East
Africa
PEST Analysis
Political: Governments across various countries are promoting healthcare infrastructure developments which is positively impacting demand for vein illumination devices. Various regulations regarding patient safety and quality of medical devices are also enforced.
Economic: Rising healthcare expenditures coupled with growing geriatric population prone to intravenous procedures is driving the market growth. The average cost of a vein visualization device range from $2,000 to $5,000 providing opportunities for manufacturers.
Social: Increasing volumes of surgical procedures and IV therapies along with rising awareness about novel vein visualization techniques are augmenting demand. Consumer preference for non invasive equipment with better visualization capabilities is noted.
Technological: Integration of near infrared light and imaging technologies in vein visualization devices enhances their functionality. Ongoing innovations to optimize image quality, portability and affordability are witnessed. Wireless connectivity with EMR systems is also gaining traction.
Key Takeaways
The Global Global Vein Illumination Devices Market Size is expected to witness high growth over the forecast period owing to rising healthcare expenditure, growing geriatric populace susceptible to IV treatments and technological advancements. The global Global Vein Illumination Devices Market was valued at US$ 608.8 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030.
North America currently dominates the market attributable to developed healthcare infrastructure and rising chronic disease prevalence necessitating frequent hospital visits for intravenous therapies. The Asia Pacific region is projected to be the fastest growing market for vein illumination devices. Factors such as improving healthcare infrastructure, rising medical tourism, growing focus on quality of care and increasing demand for non invasive medical devices are driving the market in the region.
Key Players operating in the Global Vein Illumination Devices Market are AccuVein, Christie Medical Holdings, Sharn Anesthesia, Venoscope, ZD Medical, Vivolight, Venoscope, Cambridge Medical (Asia) Private, Evena Medical, Near Infrared Imaging, Veinlite, Sharn Anesthesia, and VINO Optics Inc. They are focused on product innovations and launches to consolidate their market position.
Reasons to Purchase Global Vein Illumination Devices Market Report:
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FAQ’s
Q.1 What will the market development pace of the Global Vein Illumination Devices Market ?
Q.2 What are the sales, revenue, and price analysis of the top players of the Global Vein Illumination Devices Market ?
Q.3 What are the market opportunities and threats faced by the vendors in the Global Vein Illumination Devices Market ?
*Note:
1. Source: CoherentMI, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
