Vein Illuminator Global Market Report 2024

Description

“Vein Illuminator Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on vein illuminator market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
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Where is the largest and fastest growing market for vein illuminator? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The vein illuminator market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Technology: Near-Infrared Illumination; Transillumination; Ultrasound Technologies
2) By Application: Intravenous Access; Blood Draw; Other Applications
3) By End User: Hospitals; Rehabilitation Centers; Blood Donation Camps; Academic Institutions
Companies Mentioned: AccuVein Inc; CAREstream Group Inc; Sharn Anesthesia Inc; Infrared Imaging LLC; Near Infrared Imaging Inc
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

A vein illuminator, also termed vein visualization, is a device leveraging near-infrared (NIR) imaging to detect and map subcutaneous veins, enhancing healthcare providers' vein identification capabilities. These devices employ various techniques for vein visualization.

Key technologies in vein illumination include near-infrared illumination, transillumination, and ultrasound technologies. Near-infrared (NIR) belongs to a segment of the electromagnetic spectrum with wavelengths between 0.7 and 1.4 microns. These technologies find applications in procedures such as intravenous access, blood draws, and other medical interventions. Target end-users encompass hospitals, rehabilitation centers, blood donation camps, and academic institutions.

The vein illuminator market research report is one of a series of new reports from The Business Research Company that provides vein illuminator market statistics, including vein illuminator industry global market size, regional shares, competitors with a vein illuminator market share, detailed vein illuminator market segments, market trends and opportunities, and any further data you may need to thrive in the vein illuminator industry. This vein illuminator market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The vein illuminator market size has grown exponentially in recent years. It will grow from $24.07 billion in 2023 to $29.51 billion in 2024 at a compound annual growth rate (CAGR) of 22.6%. The observed growth in the historical period can be attributed to several key factors. These include advancements in medical imaging technologies, an increasing number of medical procedures requiring vein access, specific challenges in accessing veins in pediatric and geriatric patients, a heightened focus on ensuring patient comfort and safety during medical interventions, the prominence of vein access in emergency and critical care settings, and a rise in activities related to blood donation, all contributing to the increased demand for vein illumination technologies.

The vein illuminator market size is expected to see exponential growth in the next few years. It will grow to $68.34 billion in 2028 at a compound annual growth rate (CAGR) of 23.4%. Anticipated growth in the forecast period is expected to be driven by several factors. These include the integration of vein illumination devices with telemedicine practices, a growing emphasis on minimally invasive medical procedures where vein visualization plays a crucial role, heightened preparedness for global health crises prompting the adoption of advanced healthcare technologies, sustained growth in home healthcare services utilizing vein illumination devices, and the integration of vein visualization technology with electronic health records for comprehensive patient care management. Major trends projected for the forecast period encompass continuous technological advancements in vein illumination devices, further integration with mobile technology to enhance accessibility and functionality, the development of enhanced visualization techniques improving vein detection accuracy, increased awareness and training programs to ensure proficient usage of these devices, and ongoing technological innovations in the broader healthcare industry influencing the evolution of vein visualization technology.

The growth of the vein illuminator market is anticipated to be driven by the increasing incidence of vein diseases. Vein diseases, a common vascular disorder leading to conditions such as varicose veins, often result in elevated vein pressure. Factors such as blood vessel injury from trauma, intravenous catheters, chemotherapeutic agents, infectious organisms, pregnancy, and varicose veins contribute to a higher risk of superficial thrombophlebitis and vein diseases. Healthcare providers require vein illuminators to enhance diagnostic capabilities for identifying and treating these conditions. Notably, the National Library of Medicine reported in August 2022 that approximately $500 million is spent annually on the care of 150,000 patients with chronic venous insufficiency. Moreover, 1% to 2.7% of patients with chronic venous insufficiency are expected to develop venous stasis ulcers, with over 20,000 new cases identified each year.

The growth trajectory of the vein illuminator market is expected to be fueled by the increasing prevalence of chronic diseases. Chronic diseases, characterized by lasting three months or more, often necessitate frequent blood tests and intravenous therapies, posing challenges in locating suitable veins for medical procedures. Vein illuminators play a crucial role in addressing these challenges by improving vein visibility, reducing patient discomfort, and enhancing the overall patient experience. According to the National Center for Biotechnology Information (NCBI), as of January 2023, the global prevalence of chronic diseases is projected to increase to 142.66 million individuals by 2050, compared to 71.522 million in 2020. This rise underscores the significant market demand for vein illuminators.

Technological advancement stands out as a prominent trend gaining traction in the vein illuminator market. Leading companies in the market are directing their focus towards intensive research and development initiatives to drive product innovations, providing enhanced benefits for customers. This commitment to innovation allows companies to secure a competitive edge in the market. An illustrative example is the April 2022 launch by ImmunoTek Bio Centers, a US-based biotech company, introducing VeinViewer technology across its divisions - ImmunoTek Plasma and Freedom Plasma. This technology offers a transparent view of a donor's veins before the needle insertion, facilitating precise blood withdrawal during processes such as plasmapheresis.

Major players in the vein illuminator market are actively developing new vein illuminators based on infrared light technology. Near-infrared light, situated just beyond the visible light spectrum, is characterized by wavelengths slightly longer than those of visible red light. A case in point is the September 2023 launch by PharmEasy, an India-based e-pharmacy company, unveiling the Vein Finder. This innovative device, designed to improve the precision of blood sample collection and enhance patient comfort, utilizes near-infrared light to visualize veins beneath the skin's surface. The handheld Vein Finder addresses the challenge of locating veins, especially in individuals with difficult-to-puncture veins, infants, and the elderly. It significantly improves the success rate of venipuncture, ensuring accurate and swift procedures, thus elevating the overall patient experience. The technology is applicable to patients of all age groups.

In December 2021, the Netherlands-based multinational conglomerate corporation, Philips, completed the acquisition of Vesper Medical Inc., a US-based company renowned for manufacturing vein illuminators. The strategic acquisition, executed for an undisclosed amount, aligns with Philips' objective of enhancing its image-guided therapy devices portfolio, reinforcing the company's commitment to advancing medical technologies.

Major companies operating in the vein illuminator market report are AccuVein Inc, CAREstream Group Inc, Sharn Anesthesia Inc, Infrared Imaging LLC, Near Infrared Imaging Inc, Translite LLC, Venoscope LLC, VueTek Scientific LLC, ZD Medical Inc, Cambridge Medical (Asia) Private Limited, Aimvein Ltd, BK Medical ApS, Shenzhen Bestman Instrument Co, BLZ Medical SAS, RB Healthcare LLC, Vivolight LLC, Christie Medical Holdings Inc, Clear Guide Medical LLC, DRE Medical Inc, Evena Medical Inc, InfraRed Imaging Systems Inc, Luminous Medical Inc, Medline Industries Inc, Medtronic plc, Novarix Inc, Optics Medical LLC, RB Healthcare LLC, Soma Technology Inc, Spectral Medical Inc, Techno Medica Co .

North America was the largest region in the vein illuminator market in 2023. The regions covered in the vein illuminator market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the vein illuminator market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The vein illuminator consists of sales of vein finders, portable vein viewer detector locators, and vein visualization light devices. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r11417

1. Executive Summary

2. Vein Illuminator Market Characteristics

3. Vein Illuminator Market Trends And Strategies

4. Vein Illuminator Market - Macro Economic Scenario

4.1. Impact Of High Inflation On the Market
4.2. Ukraine-Russia War Impact On the Market
4.3. COVID-19 Impact On the Market

5. Global Vein Illuminator Market Size and Growth

5.1. Global Vein Illuminator Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Vein Illuminator Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Vein Illuminator Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Vein Illuminator Market Segmentation

6.1. Global Vein Illuminator Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Near-Infrared Illumination
Transillumination
Ultrasound Technologies
6.2. Global Vein Illuminator Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Intravenous Access
Blood Draw
Other Applications
6.3. Global Vein Illuminator Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Hospitals
Rehabilitation Centers
Blood Donation Camps
Academic Institutions

7. Vein Illuminator Market Regional And Country Analysis

7.1. Global Vein Illuminator Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Vein Illuminator Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Vein Illuminator Market

8.1. Asia-Pacific Vein Illuminator Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Vein Illuminator Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Vein Illuminator Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Vein Illuminator Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Vein Illuminator Market

9.1. China Vein Illuminator Market Overview
9.2. China Vein Illuminator Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Vein Illuminator Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Vein Illuminator Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Vein Illuminator Market

10.1. India Vein Illuminator Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Vein Illuminator Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Vein Illuminator Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Vein Illuminator Market

11.1. Japan Vein Illuminator Market Overview
11.2. Japan Vein Illuminator Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Vein Illuminator Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Vein Illuminator Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Vein Illuminator Market

12.1. Australia Vein Illuminator Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Vein Illuminator Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Vein Illuminator Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Vein Illuminator Market

13.1. Indonesia Vein Illuminator Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Vein Illuminator Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Vein Illuminator Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Vein Illuminator Market

14.1. South Korea Vein Illuminator Market Overview
14.2. South Korea Vein Illuminator Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Vein Illuminator Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Vein Illuminator Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Vein Illuminator Market

15.1. Western Europe Vein Illuminator Market Overview
15.2. Western Europe Vein Illuminator Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Vein Illuminator Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Vein Illuminator Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Vein Illuminator Market

16.1. UK Vein Illuminator Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Vein Illuminator Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Vein Illuminator Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Vein Illuminator Market

17.1. Germany Vein Illuminator Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Vein Illuminator Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Vein Illuminator Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Vein Illuminator Market

18.1. France Vein Illuminator Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Vein Illuminator Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Vein Illuminator Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Vein Illuminator Market

19.1. Italy Vein Illuminator Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Vein Illuminator Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Vein Illuminator Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Vein Illuminator Market

20.1. Spain Vein Illuminator Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Vein Illuminator Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Vein Illuminator Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Vein Illuminator Market

21.1. Eastern Europe Vein Illuminator Market Overview
21.2. Eastern Europe Vein Illuminator Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Vein Illuminator Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Vein Illuminator Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Vein Illuminator Market

22.1. Russia Vein Illuminator Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Vein Illuminator Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Vein Illuminator Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Vein Illuminator Market

23.1. North America Vein Illuminator Market Overview
23.2. North America Vein Illuminator Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Vein Illuminator Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Vein Illuminator Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Vein Illuminator Market

24.1. USA Vein Illuminator Market Overview
24.2. USA Vein Illuminator Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Vein Illuminator Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Vein Illuminator Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Vein Illuminator Market

25.1. Canada Vein Illuminator Market Overview
25.2. Canada Vein Illuminator Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Vein Illuminator Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Vein Illuminator Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Vein Illuminator Market

26.1. South America Vein Illuminator Market Overview
26.2. South America Vein Illuminator Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Vein Illuminator Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Vein Illuminator Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Vein Illuminator Market

27.1. Brazil Vein Illuminator Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Vein Illuminator Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Vein Illuminator Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Vein Illuminator Market

28.1. Middle East Vein Illuminator Market Overview
28.2. Middle East Vein Illuminator Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Vein Illuminator Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Vein Illuminator Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Vein Illuminator Market

29.1. Africa Vein Illuminator Market Overview
29.2. Africa Vein Illuminator Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Vein Illuminator Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Vein Illuminator Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Vein Illuminator Market Competitive Landscape And Company Profiles

30.1. Vein Illuminator Market Competitive Landscape
30.2. Vein Illuminator Market Company Profiles
- 30.2.1. AccuVein Inc
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. CAREstream Group Inc
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Sharn Anesthesia Inc
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Infrared Imaging LLC
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Near Infrared Imaging Inc
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Vein Illuminator Market Competitive Benchmarking

32. Global Vein Illuminator Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Vein Illuminator Market

34. Vein Illuminator Market Future Outlook and Potential Analysis

34.1 Vein Illuminator Market In 2028 - Countries Offering Most New Opportunities
34.2 Vein Illuminator Market In 2028 - Segments Offering Most New Opportunities
34.3 Vein Illuminator Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer