Increasing investment in R&D and an increasing number of new product launches, innovative and advanced technologies, improved healthcare infrastructure and presence of a large number of vein illuminator manufacturing companies are key factors contributing to high CAGR of Vein Illuminator during the forecast period.
Vein Illuminator Market Size – USD 52.4 million in 2018, Growth – CAGR of 31.7%, Trends – Product launches and research for advanced vein illuminator devices
According to the current analysis of Reports and Data, the global vein illuminator market was valued at USD 52.4 million in 2018 and is expected to reach USD 510.6 million by the year 2026, at a CAGR of 31.7 percent. Vein illuminator is a handheld device which helps professionals to find a superficial vein for venipuncture. Innovative and advanced technologies improved healthcare infrastructure and the presence of a large number of vein illuminating manufacturing companies.
The wide variety of devices designed for locating veins reflects the great challenges of this procedure. Despite their availability, valuable time and money continue to be wasted and people continue to suffer multiple needle stickings, due to lack of awareness in many areas. Better product marketing could help alleviate this issue. Clinicians face difficulties in locating peripheral veins on a regular everyday basis. They usually start with the basic simple techniques of milking, slapping, and tourniquet. Recurrent failures are helpful in identifying persons who need additional extra help to be cannulated. All existing methods, without exception, will increase success rates for locating veins in particularly in difficult cases. Adoption of these advanced technologies may lead to improved medical treatment, as well as prevent clinical complications such as hematomas. All methods save critical time and improve both medical staff and patient satisfaction. The mobile devices offer solutions to overcome obstacles, drive down costs, redesign care-paths and processes, augment the level of patient safety and significantly improve the quality of care in diverse care settings, including hospital wards, emergency rooms, field hospitals, the military and homes. It could also be very useful and effective for patients that inject their medicine straight into the veins themselves (such as hemophiliacs).
Technological developments such as advances in optics, greater contrast, and resolution, the falling cost of devices and others are critical drivers of the market. More accuracy in determining vein width with a low deviation as low as 60 to 100 microns is the key to be market leaders. Increasing demand and falling size and cost of devices is another technical driver. The constraints of the global vein illuminator market are lack of awareness, high cost of devices, and others. Increasing global geriatric population along with an increase in the success rate, are boosting the growth of vein illuminator market. Rising awareness regarding the use of better healthcare technologies and the rapid technological advancements are anticipated to offer substantial growth opportunities in the market during the forecast period. However, higher pricing of these devices and the lower awareness of vein illumination technology is expected to hamper the growth of the vein illuminator market over the forecast period.
Some of the key players in the market are Venoscope, LLC, Christie Medical Holdings, Inc., Inc., Translite, LLC, Vuetek Scientific, LLC, ZD Medical, Inc., Infrared Imaging Systems, Accuvein, Inc., Cambridge Medical (Asia) Private Ltd
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Further key findings from the report suggest:
For this report, Reports and Data have segmented the vein illuminator market based on technology, application, end-use, and region:
Technology (Revenue, USD Million; 2016–2026)
Applications (Revenue, USD Million; 2016–2026)
End use (Revenue, USD Million; 2016–2026)
Regional Outlook (Revenue in USD Million; 2016–2026)
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Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018 – 2026
Chapter 3. Indicative Metrics
3.1. Increasing inclination of doctors and nurses
Chapter 4. Vein Illuminator Market Segmentation & Impact Analysis
4.1. Vein Illuminator Segmentation Analysis
4.2. Vein Illuminator Market Value Chain Analysis, 2016-2026
4.3. Regulatory framework
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