According to the latest analysis, the global vein finder market value is projected to increase from USD 37.6 million in 2024 to USD 52.4 million by 2034. It will likely register steady growth, with global vein finder demand rising at a CAGR of 3.4%.
The global vein finder industry was valued at USD 37.5 million in 2023 and is anticipated to exhibit a y-o-y growth of 7.0% in 2024. Total vein finder revenue will likely expand 1.4x through 2034.
Global Vein Finder Market Insights
| Attributes | Key Insights |
|---|---|
| Base Market Value (2023) | USD 37.5 million |
| Estimated Global Vein Finder Market Value (2024) | USD 37.6 million |
| Projected Vein Finder Market Revenue (2034) | USD 52.4 million |
| Value CAGR (2024 to 2034) | 3.4% |
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Vein finders are becoming essential devices in the healthcare industry. These advanced devices are intended to improve patient care by assisting physicians in venipuncture. Growing adoption of these vein finder devices in a variety of healthcare settings is expected to boost market growth.
Vein finders are becoming critical in several tasks, including starting intravenous lines, locating veins for injections, and drawing blood. Increasing adoption of vein finders in these procedures is expected to boost growth of the vein finder market.
Growing number of surgical procedures globally necessitates accurate venous access for blood sampling, intravenous injections, and other medical procedures. This will continue to propel demand for vein finders.
Rising emphasis on improving patient safety and comfort is expected to fuel sales of vein finders during the forecast period. These vein detection devices help ensure successful first attempts at venipuncture while reducing the number of needle sticks.
Portable vein finders are witnessing higher demand globally due to their small size and easy maneuverability. They are easy for physicians to work with in various clinical settings. Portable vein finders are also ideal for delivering at-home care to the patient.
An increasing shift towards the integration of advanced technologies such as augmented reality and near-infrared spectroscopy in vein finder devices enhances their accuracy and depth of vein detection. This, in turn, is affecting the vein locator market constructively.
Top vein finder manufacturers are constantly looking to develop advanced solutions to boost their sales. This technological evolution is driven by the pursuit of more effective and user-friendly solutions for healthcare professionals.
There has also been a growing emphasis on patient-centric features in vein finder development. Manufacturers are incorporating features that enhance patient comfort during venipuncture, contributing to a positive healthcare experience.
The ongoing trends collectively reflect the market's commitment to technological innovation, adaptability to diverse healthcare settings, and a patient-centered approach to advancing vein finder technologies. As a result, a healthy CAGR has been predicted for the target industry.
Global sales of vein finders increased at a CAGR of 4.8% from 2019 to 2023. Total market valuation at the end of 2023 reached USD 37.5 million. In the assessment period, the global vein finder industry is poised to grow at a CAGR of 3.4%.
Chronic diseases such as diabetes, cardiovascular disorders, and renal diseases have become increasingly prevalent on a global scale. This surge in chronic illnesses is increasing the demand for medical procedures that require accurate and efficient vein visualization. This makes vein finders an indispensable tool in contemporary healthcare settings.
Rising geriatric population globally is expected to propel vein finder demand during the forecast period. Due to aging, older people often suffer from conditions like poor venous access, creating need for vein finder devices.
According to the Journal of Frontiers in Public Health, the population of people above 50 years old in the United States is expected to rise by 61.11%, increasing from 137.25 million in 2020 to 221.13 million in 2050. Among this population group, the number of people having at least one chronic disease is estimated to increase to 142.66 million in 2050. This will positively impact vein finder sales.
Amid rising geriatric population and rising prevalence of chronic diseases, healthcare providers face an increasing need for tools that enhance the success rates of medical interventions. Modern vein finders address this need by offering healthcare professionals a reliable means to visualize veins.
Principal Consultant
Vein finders are increasingly used for intravenous nutritional support, intravenous fluid administration, and intravenous drug administration. Similarly, they find application in intravenous chemotherapy administration and parenteral nutrition, thereby driving their demand.
Due to their increasing application in IV procedures, demand for vein finders is expected to grow rapidly during the forecast period. Vein finders are also used in vascular procedures, dialysis, and cosmetic procedures, contributing to their higher sales.
Increasing usage of vein finders in procedures such as cosmetic makeovers is expected to support market growth over the forecast period. Vein finders help in locating veins before, during, and after cosmetic and vascular procedures. They also help to prevent severe bruising and vein damage during cosmetic procedures.
Vein finders have traditionally been used in healthcare settings for purposes such as IV access, blood draws, and other medical procedures. However, in recent years, there has been an increasing trend toward the use of vein finders in the cosmetic industry as well. This will likely create growth opportunities for vein finder manufacturers.
Despite the significant opportunity for vein finder industry, the high cost of vein finders acts as a restraint for the market, particularly in lower economic regions. Advanced vein finder devices, especially benchtop ones, are expensive, which negatively impacts their sales.
Lack of knowledge and experience in operating a vein finder can lead to complicated intravenous (IV) procedures that are uncomfortable for the patient. In addition, improper use of the vein finder may cause unnecessary bruising, damage to the vein, or other complications.
Patients who have had negative experiences with IV procedures, such as repeated needle sticks or multiple IV insertion attempts, may be reluctant to undergo the procedure again. Consequently, medical professionals may be less inclined to use a vein finder if they are unsure whether they can use it effectively.
If medical professionals are not properly trained in using a vein finder, they may not recognize the device's value or be aware of its benefits. This may result in low demand for vein finders, as medical professionals are more likely to use traditional, more familiar methods of locating veins, such as palpation or visualization.
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The table below shows the predicted growth rates of the top nations. China, France, and Japan are anticipated to record high CAGRs of 7.0%, 2.6%, and 2.1%, respectively, through 2034.
Market Growth Outlook by Key Countries
| Countries | Value CAGR |
|---|---|
| United States | 2.0% |
| Japan | 2.1% |
| Germany | 1.6% |
| France | 2.6% |
| China | 7.0% |
As per the latest analysis, the United States accounted for a dominant global market share of 35.1% in 2023. Over the forecast period, the United States vein finder market is expected to exhibit a CAGR of 2.0%.
The United States has a well-established healthcare infrastructure, which contributes to the growing demand for vein finders. Advanced healthcare facilities and a strong emphasis on medical innovation contribute to the widespread integration of vein finder technologies within the nation.
Growing prevalence of chronic diseases, such as diabetes and cardiovascular conditions, in the United States is creating a substantial demand for precise vein visualization in various procedures. This will likely foster growth of the vein finder industry through 2034.
Substantial investment has been made in state-of-the-art medical technologies, including vein finders, in the United States. The nation's regulatory environment is conducive to the approval and adoption of innovative healthcare devices, further solidifying its position as a dominating region in the vein finder industry.
Japan remains a lucrative market for vein finder manufacturers across East Asia. As per the latest report, demand for vein finders in Japan is anticipated to increase at a CAGR of 2.1% throughout the forecast period.
The geriatric population in Japan has significantly increased, which has led to the adoption of vein finders. The increasing prevalence of chronic diseases necessitates precise venipuncture, further augmenting the market.
The above factors coupled with strong regulatory framework are expected to boost Japan vein finder market during the forecast period. Similarly, a culture of early adoption of healthcare innovations will likely support market expansion.
The section below provides insights into top segments of the global vein finder industry. This information can help companies invest in demanding products and frame their strategies accordingly to succeed in this vein finder business.
Based on product, the portable vein finders segment dominates the market, accounting for a revenue share of 91.6% in 2023. By technology, the infrared segment held a market share of 62.2% in 2023. In terms of end-users, the hospital segment leads the market and is set to exhibit a CAGR of 2.4% through 2034.
Market Growth Outlook by Product Type
| Product Type | Value CAGR |
|---|---|
| Portable | 3.1% |
| Benchtop | 4.3% |
Demand in the market remains high for portable vein finders. This is due to their advantages, like convenience, flexibility, and cost-effectiveness. The target segment held a prominent market share of 91.6% in 2023 and is set to grow at 3.1% CAGR through 2034.
Portable vein finders are versatile and adaptable to diverse healthcare settings. They allow healthcare professionals to carry them from one place to another, enabling efficient vein visualization in various clinical environments.
The demand for point-of-care applications and the decentralization of healthcare services contribute to the high demand for portable vein finders and the overall market. Similarly, rising popularity of home healthcare will likely fuel sales of portable vein finders through 2034.
Market Growth Outlook by Technology
| Technology | Value CAGR |
|---|---|
| Infrared | 2.9% |
| Ultrasound | 5.2% |
| Transillumination | 4.2% |
As per the latest analysis, the infrared technology segment held 62.2% of the global vein finder market share in 2023. Over the forecast period, the same segment is anticipated to grow at 2.9% CAGR.
Infrared technology utilizes near-infrared light to penetrate the skin and interact with hemoglobin in the blood, making veins more distinguishable. This method offers enhanced depth of vein detection, making it particularly effective for patients with darker skin tones or challenging venous conditions.
The non-ionizing and non-invasive nature of infrared vein finders contributes to patient safety, addressing concerns associated with technologies involving ionizing radiation. The real-time imaging capability of infrared vein finders provides immediate feedback to healthcare professionals during vein identification, aiding in quick and accurate venipuncture procedures.
Infrared vein finders are often more cost-effective than ultrasound technologies, making them accessible to a broader range of healthcare facilities.
Their portability aligns with the trend towards decentralized healthcare, allowing healthcare providers to carry the device easily across various clinical settings. These factors collectively contribute to the widespread adoption of infrared vein finders.
Market Growth Outlook by End-user
| End-user | Value CAGR |
|---|---|
| Hospitals | 2.4% |
| Specialty Clinics | 3.0% |
| Ambulatory Surgical Centers | 4.6% |
| Independent Dialysis Centers | 4.8% |
| Diagnostic & Pathology Laboratories | 5.0% |
| Cancer research Institutes | 3.7% |
| Blood Centers/Blood Banks | 2.4% |
Currently, hospitals segment holds a dominant share of the vein finder industry, and the trend will likely persist throughout the forecast period. Further, demand for vein finders in hospitals is projected to grow at 2.4% CAGR through 2034, making them leading end users.
Hospitals serve as hubs for a wide range of medical procedures, including surgeries, diagnostic tests, and therapeutic interventions that often require precise venipuncture. Vein finders are being increasingly used in these procedures.
Hospitals cater to a diverse patient population with varying health conditions and anatomical challenges. The complex and varied nature of hospital environments, encompassing a multitude of medical procedures, critical care demands, and diverse patient populations, positions hospitals as the leading end-users of vein finders.
Leading manufacturers of vein finders are constantly developing innovative products to meet the evolving end user requirements. They are focusing on enhancing vein visualization through advancements in near-infrared (NIR) and exploring novel techniques like electrical impedance or ultrasound.
For instance, players like Christie Medical Holdings, Shenzhen Bestman Instrument, and AccuVein are developing new vein finders that use improved visualization technologies. Similarly, companies are employing strategies like partnerships, mergers, acquisitions, distribution agreements, and collaborations to gain a competitive edge in the market.
Recent Developments in the Vein Finder Market
The global vein finder market size is estimated to reach USD 37.6 million in 2024.
By 2034, the global vein finder market value is expected to total USD 52.4 million.
Global vein finder demand is set to increase at 3.4% CAGR through 2034.
The portable vein finders segment held a dominant market share of 91.6% in 2023.
The global market recorded a 4.8% CAGR from 2019 to 2023.
The United States accounted for around 35.1% share of the global market in 2023.
Yes, vein finders have become critical in several medical procedures.
Vein finders are used to locate veins accurately during venipuncture, blood draws, and IV insertion.
There are various devices, including AccuVein Vein Visualization System, that enable doctors to see veins.
1. Executive Summary 2. Market Overview 3. Key Market Trends 4. Value-Added Insights 5. Market Background 6. Global Market Demand (in Volume Units) Analysis 2019 to 2023 and Forecast, 2024 to 2034 7. Global Market - Pricing Analysis 8. Global Market Demand (in Value or Size in USD million) Analysis 2019 to 2023 and Forecast, 2024 to 2034 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product Type 9.1. Portable 9.2. Benchtop 10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Technology 10.1. Infrared 10.2. Ultrasound 10.3. Transillumination 11. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End User 11.1. Hospitals 11.2. Clinics 11.3. Ambulatory Surgical Centers 11.4. Diagnostic Centers and Path Labs 11.5. Blood Banks 12. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 12.1. North America 12.2. Latin America 12.3. East Asia 12.4. South Asia & Pacific 12.5. Western Europe 12.6. Eastern Europe 12.7. Middle East & Africa 13. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034 14. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034 15. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034 16. South Asia & Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034 17. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034 18. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034 19. Middle East & Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034 20. Market Structure Analysis 21. Competition Analysis 21.1. AccuVein Inc. 21.2. Christie Medical Holdings, Inc. 21.3. Near Infrared Imaging LLC 21.4. Shenzhen Bestman Instrument Co., Ltd. 21.5. Gentherm Inc. 21.6. Sunny Medical Equipment Limited 21.7. Translite LLC / Veinlite 21.8. Venoscope LLC 21.9. ZD Medical 21.10. Infinium Medical 21.11. NextVein 21.12. International Biomedical 21.13. Shenzhen Vivolight Medical Device & Technology Co., Ltd. 21.14. BLZ Technology Inc. 21.15. iiSM Inc. 22. Assumptions and Acronyms Used 23. Research Methodology
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