Vein Illumination Devices Market Beyond the Veil: Unveiling the Power of Vein Illumination in Healthcare

Newark, New Castle, USA, June 14, 2023 (GLOBE NEWSWIRE) — The market analysis of the global vein illumination devices market was conducted by Growth Plus Reports in 2022 and was valued at US$ 85 million. The market is expected to hit a revenue CAGR of 30.2% to reach US$ 913 million by 2031.

Analysis of the global market for vein illumination devices indicates that during the forecast period, revenue share is likely to increase significantly. Medical equipment known as vein illumination devices employs near-infrared light to identify and highlight veins under the skin’s surface.

Key Takeaways: 

• The increasing awareness of minimally invasive procedures is driving the market revenue share.
• The increasing requirements for intravenous therapy and procedures are driving the market demand.
• The market for vein illumination devices is driven by an increased focus on patient safety.

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                                    Vein Illumination Devices Market Scope

Recent Development in the Vein Illumination Devices Market: 

• In September 2022, the groundbreaking AccuVein® AV500 vein visualization tool, which uses the company’s proprietary “True CenterTM” technology, will be on display at this year’s Association for Vascular Access (AVA2022) Annual Scientific Meeting, according to an announcement from AccuVein Inc. Clinicians can precisely see a vein’s centerline using the AV500’s True CenterTM technology, regardless of the distance.

Competitive Landscape

A list of the companies operating in the global market for vein illumination devices includes: 

• B. Braun Medical
• Christie Medical Holdings, Inc.
• Ibis Medical Equipment & Systems Pvt Ltd.
• ZD Medical Inc.
• BLZ Technology Inc.

Market Drivers and Restraints: 

The global vein illumination devices market revenue is driven by the increasing demand for minimally invasive procedures, technology advancements in the reduction of risk and complications associated with intravenous therapy, and increased patient safety. 

However, due to the unawareness of the benefits and the expense, the vein illumination devices market revenue growth is likely to be restrained. 

Market Segmentation: 

Segmentation By Technology

Based on the products, the infrared illumination technology segment dominates the global vein illumination devices market with the largest revenue share. This sizable share of revenue is attributed to its ability to pierce firmly entrenched tissues makes it feasible to observe deeply embedded blood vessels.

Segmentation By Application

Based on the application, the intravenous access segment dominates the global vein illumination devices market with the largest revenue share. The significant share of revenue is attributed to its increasing utilization for IV nutritional support, IV fluid administration, IV pharmaceutical administration, and IV chemotherapy administration, along with improvements in IV cannulation technology.

Segmentation By End User 

Based on end-user, the hospital segment accounts for the highest revenue share in the global vein illumination devices market due to its increasing need in the hospital to provide modern and precise healthcare services to patients. 

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Regional Growth Dynamics

Based on the region, North America, with the largest revenue share, dominates the global vein illumination devices market. This dominance is a result of a need for technologically advanced medical equipment in hospitals and outpatient care centers. In addition, it is anticipated that key market players like Christie Medical Holdings, Inc., TransLite LLC, Accuvein, Inc., and Venoscope LLC would aid in boosting the availability of products in the region.

Report Coverage 

Global market research on the vein illumination devices market was done in-depth by Growth Plus Reports. We looked at the core market traits, noteworthy investment prospects, regional growth trends, ten-year revenue projections, rival market participants, and mergers and acquisitions.

Table of Content

1. INTRODUCTION
   1. Market Ecosystem
   2. Timeline Under Consideration
      1. Historical Years – 2021
      2. Base Year – 2022
      3. Forecast Years – 2023 to 2031
   3. Currency Used in the Report
2. RESEARCH METHODOLOGY 
   1. Research Approach
   2. Data Collection Methodology
   3. Data Sources
      1. Secondary Sources 
      2. Primary Sources
   4. Market Estimation Approach
      1. Bottom Up
      2. Top Down 
   5. Market Forecasting Model
   6. Limitations and Assumptions
3. PREMIUM INSIGHTS
   1. Current Market Trends (COVID-19 Perspective)
   2. Key Players & Competitive Positioning (2022)
   3. Regulatory Landscape
4. MARKET DYNAMICS
   1. Drivers
   2. Restraints/Challenges
   3. Opportunities
5. GLOBAL VEIN ILLUMINATION DEVICES MARKET – ANALYSIS & FORECAST, BY TECHNOLOGY
   1. Ultrasound Technology
   2. Transillumination Technology
   3. Infrared Technology
6. GLOBAL VEIN ILLUMINATION DEVICES MARKET – ANALYSIS & FORECAST, BY APPLICATION
   1. Intravenous Access
   2. Venipuncture Assistance
   3. Blood Draw
   4. Others
7. GLOBAL VEIN ILLUMINATION DEVICES MARKET – ANALYSIS & FORECAST, BY END-USER
   1. Hospitals & Clinics
   2. Blood Donation Settings
   3. Rehabilitation Centers
   4. Others

VEIN ILLUMINATION DEVICES MARKET TOC

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