Reports And Data

Product launches and research for advanced vein illuminator devices

NEW YORK, NY, UNITED STATES, January 5, 2022 /EINPresswire.com/ -- According to the current analysis of Reports and Data, the global vein illuminator market was valued at USD 116.3 Million in 2020 and is expected to reach USD 944.8 Million by the year 2028, 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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Some of the key companies operating in the global Vein Illuminator 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

The pharma and healthcare sector is rapidly growing in the recent past and is expected to register substantial revenue share over the forecast period of 2028. Factors such as technological developments in the healthcare and pharma field, improving healthcare infrastructure and increasing healthcare expenditure are key factors boosting market growth. The market dynamics have completely changed after the outbreak of COVID-19 pandemic. Increasing prevalence of various chronic diseases, high occurrence of diabetes, cancer and cardiovascular disorders and rising number of accidents across the globe are fueling growth of the global Vein Illuminator market. In addition, increasing investments in research and development activities, high adoption of personalized medicines and ongoing research on drug discovery are further boosting market growth.

The report is curated using extensive primary and secondary research which is thoroughly evaluated by industry experts and professionals. Advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, and investment return analysis are used to obtain the report data. This data is represented through various diagrams, graphs, tables, and charts to help the reader understand the market dynamics accurately. The report also provides information about each market player, its global position, business expansion plan financial status, license agreement, and product and services portfolio.

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Further key findings from the report suggest

• AccuVein Inc. is one of the global leaders in medical imaging solutions. The company’s vein viewing system was the world’s first handheld, non-contact vein illumination solution

• North America is predicted to hold the largest share of the Vein Illuminator access market because of the growing population and high rate of technology adoption

• Vein illuminator device is used for locating veins in dark-skinned patients, obese patients, whose veins are not visible or palpable, patients suffering from burn injuries, agitated patients, thus it can be used for a wide variety of patients to pricking unnecessary needle sticks to the patient.

• Various complications such as hematoma, infections, nerve damage, extravasations, excessive bleeding, edema, thrombosis, and allergies may arise as a result of venipuncture complications which demands the vein illuminator device.

• Europe is expected to gain a significant market share by 2026 as the hospitals End User are going to drive market growth

• Academic institutions are expected to grow at the second-highest CAGR during the forecast period. The increased research and practical application in these institutions drive the demand for vein illuminator devices in this industry

• Infrared illumination is expected to grow at the highest CAGR, because of the accuracy of operation, ease of handling, and cost-effectiveness. NIR is expected to be preferred over transillumination and other technologies in the near future due to better usage of technology

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For this report, Reports and Data have segmented the vein illuminator market based on technology, application, end-use, and region:

Technology (Revenue, USD Million; 2018–2028)

• Infrared Illumination (NIR)
• Transillumination
• Ultrasound
• Others

Applications (Revenue, USD Million; 2018–2028)

• IV Access
• Blood draw
• Others

End use (Revenue, USD Million; 2018–2028)

• Hospitals
• Rehabilitation Centers
• Blood Donation Camps
• Academic Institutions
• Others

Regional Outlook:

• North America (U.S., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (India, China, Japan, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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