USD 1.7 billion
Vein Illuminator Market Size, Share, Growth Analysis, By Type(Handheld Vein Illuminators and Fixed Vein Illuminators.), By Application(Blood Draw, Intravenous Access, Pediatric Care, Geriatric Care and Emergency Medicine.), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2296 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
62
|Figures:
75
Vein Illuminator Market Insights
Vein Illuminator Market size was valued at USD 2.21 billion in 2022 and is poised to grow from USD 2.87 billion in 2023 to USD 23.44 billion by 2031, growing at a CAGR of 30% in the forecast period (2024-2031).
The global vein illuminator market has been experiencing significant growth in recent years due to the rising demand for efficient and accurate intravenous access procedures. Vein illuminators are medical devices that help healthcare professionals locate and visualise veins beneath the skin, making it easier to perform venipuncture or intravenous catheter insertion. This market analysis will provide insights into the key factors driving the market's growth, the major players in the industry, and the regional distribution of the market. One of the primary drivers of the global vein illuminator market is the increasing need for reliable venipuncture procedures across various healthcare settings. Accurate vein visualisation plays a crucial role in ensuring successful intravenous access, particularly in patients with difficult-to-locate veins or those with obesity or paediatric patients. Vein illuminators aid in reducing the number of needle sticks, minimising patient discomfort, and improving the overall efficiency of medical procedures. As a result, healthcare providers are increasingly adopting vein illuminators, leading to market growth. Technological advancements and innovations have also contributed to the market's expansion. Manufacturers are continuously developing vein illuminators with enhanced features such as multi-wavelength imaging, adjustable light intensity, and portable designs. These advancements improve vein detection accuracy and provide better visualisation, thereby boosting the demand for vein illuminators in the market. Additionally, the integration of vein illuminators with other medical devices, such as infusion pumps or catheters, further enhances their utility and convenience for healthcare professionals.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Handheld Vein Illuminators
Fastest Growth
Handheld Vein Illuminators
Growth Rate
30% CAGR
Global Vein Illuminators By Country ($ Bn)
Country Share for North America Region (%)
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Vein Illuminator Market Segmental Analysis
The global vein illuminator market is segmented by type, application, and region. Based on type, the market can be segmented into handheld vein illuminator, and fixed vein illuminator. Based on application, the market is segmented into blood draw, intravenous access, paediatric care, geriatric care, and emergency medicine. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Type
Analysis by type indicates that the dominant type in the global vein illuminator market is the handheld vein illuminator. Handheld vein illuminators have gained significant popularity and market share due to their portability, ease of use, and non-invasive nature. They are widely used in various healthcare settings, including hospitals, clinics, and ambulatory care centres, for locating veins during venipuncture procedures. The handheld vein illuminator segment is characterised by a larger customer base and higher adoption rates compared to fixed vein illuminators.
On the other hand, the fastest-growing type in the global vein illuminator market is the fixed vein illuminator. Fixed vein illuminators are typically installed in healthcare facilities, such as hospitals and clinics, and provide a permanent solution for vein visualisation. These devices use advanced technologies, such as near-infrared light or ultrasound, to enhance the visibility of veins, making them useful in challenging patient populations or situations where frequent venipuncture is required. The growing demand for improved accuracy, efficiency, and patient comfort during vascular access procedures is driving the adoption of fixed vein illuminators.
Analysis by Application
Analysis by application reveals that the dominant application in the global vein illuminator market is Intravenous Access. Intravenous access is a widely used application in hospitals and healthcare facilities, where accurate and efficient placement of intravenous catheters is crucial for various medical procedures, drug administration, and fluid therapy. Vein illuminators play a vital role in improving the success rate and reducing the discomfort associated with venipuncture, making them essential tools for healthcare professionals in intravenous access procedures.
In terms of the fastest-growing application, Pediatric Care stands out in the global vein illuminator market. Vein visualisation technology is particularly valuable in paediatric care, as children often have smaller, more challenging veins for venous access. Vein illuminators help healthcare providers locate veins accurately, increasing the success rate of procedures such as blood draws and intravenous catheter insertion. The growing demand for specialised devices that enhance the efficiency and safety of paediatric venipuncture contributes to the rapid growth of vein illuminators in paediatric care applications.
Global Vein IlluminatorsBy Type
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Vein Illuminator Market Regional Insights
In terms of market dominance, North America holds a prominent position in the global vein illuminator market. The region benefits from well-established healthcare infrastructure, technological advancements, and high healthcare expenditure. Moreover, the presence of key market players and ongoing research and development activities contribute to the dominance of North America in this market. The US, in particular, accounts for a significant share of the market due to its robust healthcare system and early adoption of advanced medical technologies.
Asia Pacific is emerging as the fastest-growing region in the global vein illuminator market. The region's market growth can be attributed to several factors, including the increasing geriatric population, rising prevalence of chronic diseases, and improving healthcare infrastructure. Additionally, countries like China, India, and Japan are witnessing rapid economic growth, leading to increased investments in healthcare and a greater focus on improving medical facilities. The demand for vein illuminators is also fueled by the need for efficient and accurate venipuncture procedures in these countries.
Global Vein Illuminators By Geography
- Largest
- Fastest
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Vein Illuminator Market Dynamics
Drivers
Increasing Need for Accurate Venipuncture Procedures
- Vein illuminators play a vital role in enhancing the visualisation of veins and improving the precision of venipuncture procedures. The growing requirement for accurate and successful venipuncture has led to a rise in the adoption of vein illuminators, especially in critical care settings, blood banks, and emergency departments.
Restraints
Limited Awareness and Training
- Despite the numerous advantages offered by vein illuminators, there exists a lack of awareness among healthcare professionals regarding their availability and appropriate utilisation. Moreover, insufficient training in effectively using these devices can act as barriers to their adoption, impeding the overall growth of the market.
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Vein Illuminator Market Competitive Landscape
The global vein illuminators market is highly competitive, with several key players striving to gain a significant market share. Vein illuminators are medical devices used to locate veins beneath the skin's surface, assisting healthcare professionals in various clinical settings, including hospitals, clinics, and ambulatory surgical centres. This competitive landscape provides a general overview of the market dynamics, key strategies, and areas of focus for the companies operating in this space.
The market is characterised by the presence of both established players and emerging companies, each offering a range of vein illuminator products with different features and technologies. These products aim to improve the accuracy and efficiency of vein identification, thus enhancing patient care and reducing complications during procedures such as venipuncture and intravenous catheterization.
Top Player’s Company Profiles
- AccuVein Inc. (US)
- TransLite LLC (US)
- Venoscope LLC (US)
- Near Infrared Imaging Inc. (US)
- Sharn Anesthesia (US)
- Venoscopes, LLC (US)
- Venoscope, LLC (US)
- Infrared Imaging Systems Inc. (US)
- Infrared Imaging Solutions, LLC (US)
- Evena Medical Inc. (US)
- VueTek Scientific LLC (US)
- Aimvein Ltd. (UK)
- AccuVein Europe BV (Netherlands)
- Veinlite, Christie Medical Holdings (US)
- ZD Medical Inc. (China)
- ZeniLite Fusion (US)
- Optics Medical (Australia)
- Becton, Dickinson and Company (US)
- Smiths Medical Inc. (US)
Recent Developments
- In May 2023, VisulaVen announced that it had received CE Mark for its new vein illuminator, the VisulaVen 2.0. The VisulaVen 2.0 is a handheld device that uses near-infrared illumination to visualise veins.
- In April 2023, Veena Solutions announced that it had signed a partnership agreement with the University of Pennsylvania. The partnership will focus on the development of new vein illuminator technologies.
- In March 2023, VEINlite announced that it had launched its new vein illuminator, the VEINlite 7. The VEINlite 7 is a handheld device that uses near-infrared illumination to visualise veins.
- In February 2023, LiVE Vein announced that it had raised $10 million in Series A funding. The funding will be used to scale up production of the company's vein illuminator, the LiVE Vein 4D.
- In January 2023, AccuVein announced that it had received FDA clearance for its new vein illuminator, the AccuVein AV400. The AV400 is a handheld device that uses near-infrared illumination to visualise veins.
Vein Illuminator Key Market Trends
- The increasing adoption of vein illuminators in the home healthcare setting is a key market trend. This is due to the rising number of elderly people and people with chronic diseases who are being treated at home. Vein illuminators can help to make vein access easier and less painful for patients, which can improve the quality of care and reduce the risk of complications. The home healthcare market is expected to grow at a significant CAGR during the forecast period due to the rising adoption of vein illuminators in this setting. This is being driven by a number of factors, including the increasing number of elderly people and people with chronic diseases who are being treated at home, the growing demand for minimally invasive procedures, and the increasing awareness of the benefits of vein illuminators.
Vein Illuminator Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global vein illuminator market analysis, one of the key drivers is the increasing demand for improved vascular access for medical procedures. As the number of complex medical procedures and the prevalence of chronic diseases rise, healthcare professionals require reliable and efficient tools to locate veins accurately. Vein illuminators offer a non-invasive and user-friendly solution, reducing the chances of failed venipuncture attempts and minimising patient discomfort. The report highlights the growing adoption of vein illuminators in various healthcare settings, including hospitals, clinics, and ambulatory care centres. The need for vein visualisation devices is particularly prominent in critical care units, emergency departments, and paediatric settings, where the ability to quickly and accurately locate veins is crucial for delivering prompt medical care. Additionally, the increasing focus on improving patient safety and reducing medical errors is driving the demand for vein illuminators as a valuable tool for venous access.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 2.21 billion |
| Market size value in 2031 | USD 23.44 billion |
| Growth Rate | 30% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Vein Illuminator Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Vein Illuminator Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Vein Illuminator Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Vein Illuminator Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Vein Illuminator Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Vein Illuminator Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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