The vein illumination devices from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Vein Illumination Devices Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The vein illumination devices market size has grown rapidly in recent years. It will grow from $0.49 billion in 2023 to $0.55 billion in 2024 at a compound annual growth rate (CAGR) of 12.5%. The growth in the historic period can be attributed to increased use during the pandemic for venous access in COVID-19 patients, increasing awareness among healthcare professionals about the benefits of vein illumination devices, growing healthcare expenditure, patient education initiatives and rise in intravenous drug use, both in medical and illicit contexts.
The vein illumination devices market size is expected to see rapid growth in the next few years. It will grow to $0.88 billion in 2028 at a compound annual growth rate (CAGR) of 12.7%. The growth in the forecast period can be attributed to rising investment in healthcare infrastructure, improvement in medical staff training and proficiency due to the availability of these devices, cost efficiency, increasing demand for venipuncture assistance and increased use in remote and home healthcare settings for patients requiring regular venous access. Major trends in the forecast period include miniaturization and wearable devices, incorporating wireless connectivity features, development of augmented reality (AR) solutions, hybrid imaging technologies and holographic projection technology.
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Scope Of Vein Illumination Devices Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Vein Illumination Devices Market Overview
Market Drivers –
The increasing prevalence of venous diseases such as deep vein thrombosis and varicose veins is expected to propel the growth of the vein illumination devices market going forward. Venous diseases impair blood flow in the veins, including varicose veins, deep vein thrombosis, chronic venous insufficiency, and venous ulcers, leading to symptoms such as swelling, pain, and skin changes. The aging process can weaken the vein valves and reduce blood flow, leading to venous disorders. Additionally, the hormonal changes associated with menopause or the use of certain medications, such as birth control pills, may affect the vein function. Vein illumination devices assist in managing venous diseases by enhancing vein visibility and facilitating more accurate and safer procedures such as intravenous access, blood draws, and sclerotherapy, thereby reducing complications and improving patient outcomes. For instance, in August 2023, the Nuffield Trust, a UK-based independent health charity, reported a significant 21% increase in Venous Thromboembolism (VTE) cases between 2019-20 and 2020-21, rising from 9,030 to 10,884 cases. Therefore, the increasing prevalence of venous diseases such as deep vein thrombosis and varicose veins drives the vein illumination devices market.
Minimally Invasive Procedures Fueling Growth in Vein Illumination Devices Market
The increasing demand for minimally invasive procedures is expected to propel the growth of the vein illumination devices market going forward. Minimally invasive procedures involve techniques that utilize small incisions or entry points, often resulting in shorter recovery times and less tissue damage than traditional surgical methods. Patients increasingly prefer minimally invasive techniques for diagnosing and treating vein-related conditions due to shorter recovery times, reduced risk of complications, and improved patient comfort. Vein illumination devices enhance minimally invasive procedures by clearly visualizing veins, improving precision and safety during needle insertions, reducing complications, minimizing patient discomfort, and increasing the success rate of venipuncture and catheter placements. For instance, in February 2024, according to the American Academy of Facial Plastic and Reconstructive Surgery, a US-based non-profit organization, in 2023, the vast majority, precisely 83%, of medical procedures conducted were minimally invasive, while the remaining 17% were traditional surgical procedures. Therefore, the increasing demand for minimally invasive procedures drives the vein illumination devices market.
Market Trends –
Major companies operating in the vein illumination devices market are developing near-infrared vascular imaging technology to improve the accuracy and efficiency of medical procedures significantly. Near-infrared vascular imaging technology advancements enhance non-invasive, high-resolution visualization of blood vessels, improving diagnostic accuracy and treatment planning. For instance, in April 2022, Christie Medical Holdings, a US-based medical device company, launched VeinViewer. The VeinViewer is an advanced near-infrared imaging device that projects real-time HD images of veins onto the patient’s skin, enhancing accuracy and efficiency in medical procedures. It illuminates veins up to 10 mm deep and is used in plasma donation centers to improve donor experience and procedure success rates.
The vein illumination devices market covered in this report is segmented –
1) By Product Type: Table-Top Devices, Hand-Held Devices
2) By Technology: Transillumination, Near Infrared Illumination, Ultrasound Technologies
3) By Application: Intravenous Access, Blood Draw, Venipuncture Assistance, Sclerotherapy, Other Applications
4) By End-User: Hospitals And Clinics, Rehabilitation Facilities, Blood Donation Camps, Academic Institutions, Nursing Homes, Other End-Users
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Regional Insights –
North America was the largest region in the vein illumination devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the vein illumination devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the vein illumination devices market are Siemens Healthineers, Koninklijke Philips N.V., Baxter International Inc., Olympus Corporation, B. Braun Medical Inc., AngioDynamics, Canon Medical Systems Corporation, Veinlite, AccuVein Inc., Delta Medical International Ltd., Christie Medical Holdings Inc., Venoscope, Near Infrared Imaging, BLZ Technology Inc., Aimvein.com, Evena Medical, ZD Medical Inc., SIFSOF LLC, IBIS Medical, Infinium Medical Inc., Shenzhen Bestman Instrument Co. Ltd., DermLite LLC, Novarix Ltd., Wuxi Biomedical Technology Co. Ltd., Vino Optics
Table of Contents
1. Executive Summary
2. Vein Illumination Devices Market Report Structure
3. Vein Illumination Devices Market Trends And Strategies
4. Vein Illumination Devices Market – Macro Economic Scenario
5. Vein Illumination Devices Market Size And Growth
…..
27. Vein Illumination Devices Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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