June 21, 2024
Global Vein Illumination Devices Market

The Rising Demand for Non-invasive Vein Visualization is Driving the Global Vein Illumination Devices Market

The global vein illumination devices market is anticipated to witness significant growth over the forecast period owing to the growing preference for non-invasive procedures to detect veins. Vein illumination devices help visualize blood vessels and veins under the skin using infrared light without causing any harm or pain to patients. They are majorly used in hospitals, medical clinics, and surgical centers to facilitate intravenous access. Some key advantages of vein illumination devices include improved visualization of veins, reduced punctures, minimized procedure times, and enhanced patient comfort and experience over traditional venous access methods.

The Global Vein Illumination Devices Market Size is estimated to be valued at US$ 608.8 Mn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024-2031.

Key TakeawaysGlobal Vein Illumination Devices

Key players operating in the global vein illumination devices market are AccuVein, Christie Medical Holdings, Sharn Anesthesia, Venoscope, ZD Medical, Vivolight, Venoscope, Cambridge Medical (Asia) Private, Evena Medical, Near Infrared Imaging, Veinlite, Sharn Anesthesia, and VINO Optics Inc. AccuVein dominates the market with its flagship AccuVein AV400 device being used widely across major healthcare facilities.

The growing prevalence of chronic diseases coupled with rising number of surgeries is fueling the demand for easy and less intrusive vascular access procedures. Vein illumination devices help improve first-stick success rates and enable efficient cannulation of veins, thereby positively impacting workflow in hospitals.

Key players are expanding their geographical presence through strategic collaborations with regional medical equipment suppliers and distributors. North America currently dominates the market due to growing geriatric population and higher adoption of advanced medical technologies. However, Asia Pacific is expected to witness fastest growth during the forecast period attributed to improving healthcare infrastructure and rising medical tourism across China, India and Southeast Asian countries.

Market Key Trends

One of the major trends gaining traction in the global vein illumination devices market is the integration of advanced technologies like infrared imaging, augmented reality, and artificial intelligence. This is allowing vendors to launch next-generation devices with improved visualization capabilities, automatic vein detection, and real-time analytics. For instance, AccuVein launched AVXS100 device with integrated AR capabilities that displays vein patterns on patient’s skin alongside live video feed to aid phlebotomists. Such innovative devices are supporting enhanced workflow efficiency in healthcare facilities.

Porter’s Analysis

Threat Of New Entrants: Minimal, due to established brand names and technology in the industry.

Bargaining Power Of Buyers: Moderate, as buyers have alternatives but patented features increase switching costs.

Bargaining Power Of Suppliers: Low, as raw materials are standard and suppliers are replaceable.

Threat Of New Substitutes: Low, as there are limited substitutes that can provide vein illumination capabilities.

Competitive Rivalry: High, as the major players compete on technology, product features and price.

Geographical Regions

North America dominates the global vein illumination devices market in terms of value, due to advanced healthcare facilities and early adoption of technologically advanced products. The United States accounts for a major share of the North American market.

The Asia Pacific region is poised to witness the highest growth during the forecast period. Improving healthcare infrastructure, growing medical tourism industry and rising healthcare expenditure are some of the key factors expected to drive the growth of the Asia Pacific vein illumination devices market.

What Are The Key Data Covered In This Global Vein Illumination Devices Market Report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the Global Vein Illumination Devices’s growth between 2024 and 2031.

:- Accurate calculation of the size of the Global Vein Illumination Devices and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behaviour

:- Global Vein Illumination Devices Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of Global Vein Illumination Devices vendors

FAQ’s

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Q.3 What are the market’s opportunities, risks, and general structure?

Q.4 Which of the top Global Vein Illumination Devices companies compare in terms of sales, revenue, and prices?

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*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it