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.
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The report provides a panoramic view of the market and insights that will help formulate better business decisions. In addition to that, the study helps well-established companies and players gain a deeper understanding of the market and make informed decisions. The report also discusses in detail about the key factors influencing the market growth.
Key companies operating in the market include:
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
The report covers an extensive analysis of the key market players in the market along with their business overview, expansion plans, and strategies. The report also focuses on recent strategic alliances in the market including mergers and acquisitions, joint ventures, partnerships, agreements, corporate and government deals, product launches, and brand promotions, among others.
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The report aims to provide a better understanding of the market dynamics and the workings of the industry on a global level. To gain a deeper understanding of the industry, the global Vein Illuminator market is further segmented on the basis of key geographical regions such as North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. The report also offers a country-wise analysis to provide crucial insights into market size, market growth, market revenue growth, and economic growth in each region.
On basis of product types and application offered by the Vein Illuminator industry, the market is segmented into:
Technology (Revenue, USD Million; 2016–2026)
- Infrared Illumination (NIR)
Applications (Revenue, USD Million; 2016–2026)
- IV Access
- Blood draw
End use (Revenue, USD Million; 2016–2026)
- Rehabilitation Centers
- Blood Donation Camps
- Academic Institutions
The regional analysis covers:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Benefits of Vein Illuminator Market Report:
- Panoramic overview of the opportunities and risks in the Vein Illuminator sector
- Study of recent innovations and developments in the industry
- Comprehensive study of the growth pattern of the Vein Illuminator industry
- In-depth assessment of the competitive landscape of the key players of the Vein Illuminator industry
- Analysis of the Vein Illuminator market drivers, constraints, and opportunities
- Assessment of technological developments and latest trends of the industry
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