According to a report by Grand View Research, Inc.; the global vein illuminator market is projected to value USD 358.5 million by 2024. Growing requirement for technologically advanced medical equipment to enhance the comfort levels of patients is anticipated to propel the demand for vein illuminators during the forecast period (from 2013 to 2025). These illuminators enable safe venipuncture procedures by increasing the visibility of veins thereby reducing needle stick injuries. Extensive demand for vein illuminators in hospitals and other medical centers due to rising awareness levels about these devices is expected to be one of the key growth-drivers for the global market. Rising cases of chronic diseases demanding frequent blood check-up procedures can also fuel the product demand. Increasing patient satisfaction levels coupled with rising success rate of drawing blood in first attempt would augment the market growth during the next few years.
The vein illuminator market is segregated on the basis of technology, application, end-user, and region. Based on technology, the market is categorized into near-infrared illumination, transillumination, and ultrasound technologies. Near-infrared illumination is expected to dominate the technology segment on account of its deep penetration capability into thick tissues to highlight the vessels with better clarity The near-infrared technology accounted for the largest share of the global market due to its ability to differentiate veins from arteries and surrounding tissues. Excessive venipuncture can cause problems to patients in most cases and the accuracy offered by this technology can reduce such problems to a great extent.
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The ultrasound segment is expected to gain a significant share of the market in the coming years. Ultrasound waves are used to create image of the veins. It does not ionizing radiation, which is why there are no adverse effects. Growing adoption of this method by many healthcare providers owing to safe and painless procedures is expected to fuel the segment demand in the next few years. Based on application, the market is classified into blood draw, intravenous access, and others. In 2015, intravenous access segment led the global market and accounted for the highest industry share. Increasing need of the procedure for drug delivery administration of fluids, chemotherapy, blood sampling, and chemotherapy is estimated to fuel the segment demand. The blood drawing segment accounted for the second largest market share owing to high demand for blood sampling. Drawing blood can be a tedious task when it gets difficult to locate the vein; however, vein illuminators detect veins accurately veins and make the procedure easy.
Based on end-user, the market can be divided into blood donation camps, hospitals, academic institutions, and others. Hospitals segment is expected to account for the maximum growth during the forecast period due to rising focus on patient satisfaction. Challenges such as fatty tissues, small veins, and limited access points are expected to boost the usage of vein illuminators among doctors. In addition, unpredictability to access veins during emergencies can further augment the demand for illuminators in order to avoid possible complications while locating venipuncture sites. Blood donation segment is expected to expand at a healthy growth rate as a result of increasing use of vein illuminators to draw blood.
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Regional segmentation includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa (MEA). In North America, the market is expected to display a significant growth during the forecast period. This is attributed to the rising demand for technologically advanced medical devices in hospitals. In addition, increasing number of manufacturing companies coupled with improved healthcare infrastructure in the region can spur the region’s growth. Moreover, increasing adoption of patient-centric approach in hospitals is anticipated to fuel market growth in the region. The Asia Pacific regional market for vein illuminator is expected to be the second largest market due to rising adopting of the technology by emerging countries such as China and Japan. In addition, growing cases of chronic diseases coupled with favorable initiatives from local governments to improve healthcare infrastructure can foster the region’s development in the coming years.
The Europe region is also said to have a considerable growth due to rising cases of chronic diseases as a result of the presence of target population base in the region. Hospitals segment is expected to account for the maximum revenue share in countries such as Canada, Germany and United Kingdom. Some of the leading companies offering vein illuminator are Venoscope, LLC; Christie Medical Holdings, Inc.; Translite, LLC; Accuvein, Inc.; and Infrared Imaging Systems.
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