The global vein illuminator market size is expected to reach USD 793.8 million by 2027, registering revenue based CAGR of 30.6% over the forecast period, according to a new report by Grand View Research, Inc. Growing demand for easy visualization of inaccessible veins in neonates, elderly, dark skinned, and obese patients is expected to aid the market growth. Moreover, growing need for intravenous drugs for the treatment of various disorders is anticipated to further propel the product demand.
As
per the American Civil Liberties Union, 350,000 people in U.S. regularly use
injectable drugs. The process requires proper knowledge regarding IV drugs in
order to avoid infections that are caused due to injection drug use. Therefore,
growing adoption of IV drugs for various purposes is expected to boost the
adoption of vein illuminators for avoiding infections and enhancing proper
treatment.
Growing
demand for painless insertion in drawing blood or intravenous access is also
expected to drive the market growth. These devices are mainly advantageous for
the application in children and adults, as it reduces the risks of multiple
needle pricks done to infants and old age patients. Illumination technology
eases the job of clinicians by creating a road map of the main vein.
Rising
prevalence of chronic diseases worldwide is increasing the demand for diagnosis
and treatment, which in turn is expected to drive the market growth. According
to recent studies, it is estimated that around 500 million venipuncture
procedures are performed every year. Usage of vein illuminator increases the
success rate of venipuncture and hence enhances the diagnosis and treatment.
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Vein Illuminator
Market Report Highlights
- Infrared technology held the
largest revenue share in 2019 and is expected to grow at the fastest rate
during the forecast period mainly due to its ability to illuminate veins
located deep inside the tissue for proper intravenous access and blood
draw
- Transillumination technology
is also expected to experience a significant growth during the forecast
period because it uses LED lights, which enhances the structure of the
vein
- The intravenous access
segment held the largest revenue share in 2019 and is expected to register
the fastest growth rate largely due to increasing usage of intravenous
drugs for treatment of various chronic diseases
- The usage of vein
illuminators is also increasing mainly because of growing demand for
diagnosing chronic diseases and for avoiding the after effects or
infections of multiple needle pricks
- The hospitals segment held
the largest revenue share and is expected to experience the fastest growth
rate during the forecast period increasing adoption in hospitals for
streamlining the IV procedures with comfort
- North America dominated the
vein illuminator market with the largest revenue share in 2019 owing to
the presence of major market players and increasing product launches in
the region
- Asia Pacific is expected to
grow at the fastest growth rate during the forecast period mainly due to
growing healthcare expenditure in the region and growing strategic
alliances between the global players for distribution in the region
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Vein Illuminator
Market Segmentation
Grand View Research has segmented
the global vein illuminator market based on technology, application, end use,
and region:
Vein Illuminator
Technology Outlook (Volume, Units; Revenue, USD Million, 2016 - 2027)
- Transillumination
- Infrared
- Ultrasound
Vein Illuminator
Application Outlook (Revenue, USD Million, 2016 - 2027)
- Intravenous Access
- Blood Draw
- Others
Vein Illuminator
End-Use Outlook (Revenue, USD Million, 2016 - 2027)
- Hospitals
- Blood Donation Camps
- Academic Institutions
- Others
Vein Illuminator
Regional Outlook (Volume, Units; Revenue, USD Million, 2016 - 2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Netherlands
- Switzerland
- Turkey
- Poland
- Asia Pacific
- China
- Japan
- India
- Thailand
- South Korea
- Indonesia
- Taiwan
- Hong Kong
- Philippines
- Malaysia
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Chile
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Kuwait
- Qatar
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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