The global market for vein illuminator is anticipated to exhibit remarkable growth, with projections indicating that it surpasses the value of US$ 208.5 million by the year 2023.
The upward trajectory is expected to continue, as the market is forecasted to achieve a significant CAGR of 23.3% through the year 2033, ultimately reaching an estimated value of US$ 1,700 million.
Vein illuminators, known for their portability and ability to minimize puncture time and pain, address the challenges of locating veins in pediatric, geriatric, and obese patients. These difficulties can result in improper intravenous drug access. As a result, the adoption of vein illuminators is projected to rapidly increase in small-sized hospitals, emergency departments, and ambulatory care centers, consequently driving the market growth.
| Data Points | Key Statistics |
|---|---|
| Vein Illuminator Market Value 2023 | US$ 208.5 million |
| Vein Illuminator Market Projected Value (2033) | US$ 1,700 million |
| Vein Illuminator Market CAGR (2023 to 2033) | 23.3% |
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The demand for vein illuminators witnessed a steady growth rate of 30.4% from 2018 to 2022, driven by the increasing recognition of their benefits in facilitating vein visualization and improving intravenous access, aiding the market size of US$ 160 million in 2022.
Looking ahead to the market outlook from 2023 to 2033, the vein illuminator market is expected to experience significant expansion at a CAGR of 23.3%, touching US$ 1,700 million by 2033.
Factors such as the rising prevalence of chronic diseases requiring frequent intravenous procedures, advancements in technology leading to more accurate and user-friendly vein illuminators, and the growing adoption of vein illuminators in diverse healthcare settings are poised to drive the market's growth.
The increasing focus on patient comfort, the reduction of medical errors, and the need for efficient venipuncture procedures are contributing to the escalating demand for vein illuminators.
With these factors at play, the market outlook for vein illuminators appears promising, presenting ample opportunities for industry players to capitalize on the expanding demand in the coming years.
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According to FMI, the market for vein illuminator in the United States of America is likely to hold US$ 542.3 million by 2033.
The United States of America is highly likely to hold a significant position in the vein illuminator market. With a robust healthcare system, advanced medical infrastructure, and a strong focus on technological innovations, the country provides a conducive environment for the adoption and advancement of vein illuminators.
The increasing prevalence of chronic diseases requiring intravenous procedures, along with the rising emphasis on patient comfort and safety, drives the demand for vein illuminators.
The presence of key market players, extensive research and development activities, and favorable reimbursement policies further contribute to the country's prominent position in the vein illuminator market.
China is poised to experience remarkable growth in the vein illuminator industry capturing a market share of US$ 146.7 million by 2033, skyrocketing at 24.5% CAGR during the forecast period.
With a large population and an increasing focus on healthcare infrastructure development, China offers significant market potential.
The rising prevalence of chronic diseases and the need for improved intravenous access contribute to the growing demand for vein illuminators. Additionally, the adoption of advanced technologies, government initiatives to enhance healthcare access, and a flourishing medical device industry further boost the market's expansion in China.
The increasing investments in research and development, strategic collaborations, and expanding distribution networks are expected to drive the growth of the vein illuminator market in China, making it a key player in the global landscape.
The China Food and Drug Administration (CFDA) gave the AccuVein AV400 their seal of approval for sales in China. The region's total market is therefore anticipated to develop as a result of rising product approvals in the nation and rising adoption of numerous end-use sectors, including hospitals and blood drives.
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The segment utilizing infrared illumination technology is projected to exhibit a 23.2% growth rate throughout the forecast period. This can be attributed to its ability to effectively penetrate deep tissues, enabling visualization of deeply-seated blood vessels.
By absorbing infrared radiation, venous blood allows for accurate projection of the underlying veins. The utilization of near-infrared illumination is favored for its simplicity and cost-effectiveness, making it particularly advantageous in emergency scenarios.
Market players are actively engaged in the development of devices integrated with infrared illumination technology.
Notably, AccuVein vein finder employs this technology by incorporating two safe barcode-scanner class lasers, one visible red, and one invisible infrared.
These lasers operate in conjunction to minimize light reflection, creating a comprehensive vein map of subcutaneous vasculature up to a depth of 10 mm. This advanced vein mapping enables healthcare professionals to effectively locate and navigate veins during clinical procedures.
By end-use, the hospitals sub-segment is predicted to garner a major share with a projected growth rate of 23.1% from 2023 to 2033.
The significant market share of vein illuminators is primarily driven by their widespread utilization in hospitals for patient diagnosis and treatment.
Notably, in June 2012, Children's Mercy Hospital and Clinics implemented AccuVein AV 300 illuminators to enhance and streamline patient care. The increasing emphasis on providing advanced healthcare facilities to patients further fuels the demand for vein illumination devices.
The usage of vein illuminators in blood donation camps is on the rise, aiming to minimize discomfort resulting from multiple pricks. According to the World Health Organization (WHO), approximately 112.5 million blood donations were conducted globally by July 2016. Consequently, the growing number of blood donation camps is expected to contribute significantly to the market's growth.
Due to the considerable presence of numerous players, the market demonstrates a highly competitive landscape. Key companies are actively involved in product development initiatives, aiming to broaden their product offerings and establish a strong global presence.
Existing market players engage in strategic activities like product launches, distribution agreements, and participation in conferences to solidify their market position and expand their product portfolios.
Companies invest in research and development activities to introduce innovative features and technologies in vein illuminators. This focus on technological advancements helps companies stay ahead in the market by offering cutting-edge products with improved functionalities and enhanced user experience.
Recent Developments in the Market:
The market is valued at US$ 208.5 million in 2023.
The market registered a CAGR of 30.4% from 2018 to 2022.
The market is estimated to be worth US$ 1,700 million in 2033.
China is poised to witness significant growth in the industry with a market share of US$ 146.7 million by 2033.
Infrared Imaging LLC, Veinlite, ZD Medical Inc. are the key market players.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer’s 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022 4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Technology 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Technology, 2018 to 2022 5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Technology, 2023 to 2033 5.3.1. Transillumination 5.3.2. Infrared 5.3.3. Ultrasound 5.4. Y-o-Y Growth Trend Analysis By Technology, 2018 to 2022 5.5. Absolute $ Opportunity Analysis By Technology, 2023 to 2033 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Aplication 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Aplication, 2018 to 2022 6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Aplication, 2023 to 2033 6.3.1. Intravenous Access 6.3.2. Blood Draw 6.3.3. Others 6.4. Y-o-Y Growth Trend Analysis By Aplication, 2018 to 2022 6.5. Absolute $ Opportunity Analysis By Aplication, 2023 to 2033 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-Use 7.1. Introduction / Key Findings 7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By End-Use, 2018 to 2022 7.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By End-Use, 2023 to 2033 7.3.1. Hospitals 7.3.2. Blood Donation Camps 7.3.3. Academic Instutions 7.3.4. Others 7.4. Y-o-Y Growth Trend Analysis By End-Use, 2018 to 2022 7.5. Absolute $ Opportunity Analysis By End-Use, 2023 to 2033 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. Introduction 8.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2018 to 2022 8.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2023 to 2033 8.3.1. North America 8.3.2. Latin America 8.3.3. Europe 8.3.4. Asia Pacific 8.3.5. MEA 8.4. Market Attractiveness Analysis By Region 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 9.2.1. By Country 9.2.1.1. USA. 9.2.1.2. Canada 9.2.2. By Technology 9.2.3. By Aplication 9.2.4. By End-Use 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Technology 9.3.3. By Aplication 9.3.4. By End-Use 9.4. Key Takeaways 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 10.2.1. By Country 10.2.1.1. Brazil 10.2.1.2. Mexico 10.2.1.3. Rest of Latin America 10.2.2. By Technology 10.2.3. By Aplication 10.2.4. By End-Use 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Technology 10.3.3. By Aplication 10.3.4. By End-Use 10.4. Key Takeaways 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 11.2.1. By Country 11.2.1.1. Germany 11.2.1.2. United Kingdom. 11.2.1.3. France 11.2.1.4. Spain 11.2.1.5. Italy 11.2.1.6. Rest of Europe 11.2.2. By Technology 11.2.3. By Aplication 11.2.4. By End-Use 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Technology 11.3.3. By Aplication 11.3.4. By End-Use 11.4. Key Takeaways 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 12.2.1. By Country 12.2.1.1. China 12.2.1.2. Japan 12.2.1.3. South Korea 12.2.1.4. Singapore 12.2.1.5. Thailand 12.2.1.6. Indonesia 12.2.1.7. Australia 12.2.1.8. New Zealand 12.2.1.9. Rest of Asia Pacific 12.2.2. By Technology 12.2.3. By Aplication 12.2.4. By End-Use 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Technology 12.3.3. By Aplication 12.3.4. By End-Use 12.4. Key Takeaways 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 13.2.1. By Country 13.2.1.1. GCC Countries 13.2.1.2. South Africa 13.2.1.3. Israel 13.2.1.4. Rest of MEA 13.2.2. By Technology 13.2.3. By Aplication 13.2.4. By End-Use 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Technology 13.3.3. By Aplication 13.3.4. By End-Use 13.4. Key Takeaways 14. Key Countries Market Analysis 14.1. USA. 14.1.1. Pricing Analysis 14.1.2. Market Share Analysis, 2022 14.1.2.1. By Technology 14.1.2.2. By Aplication 14.1.2.3. By End-Use 14.2. Canada 14.2.1. Pricing Analysis 14.2.2. Market Share Analysis, 2022 14.2.2.1. By Technology 14.2.2.2. By Aplication 14.2.2.3. By End-Use 14.3. Brazil 14.3.1. Pricing Analysis 14.3.2. Market Share Analysis, 2022 14.3.2.1. By Technology 14.3.2.2. By Aplication 14.3.2.3. By End-Use 14.4. Mexico 14.4.1. Pricing Analysis 14.4.2. Market Share Analysis, 2022 14.4.2.1. By Technology 14.4.2.2. By Aplication 14.4.2.3. By End-Use 14.5. Germany 14.5.1. Pricing Analysis 14.5.2. Market Share Analysis, 2022 14.5.2.1. By Technology 14.5.2.2. By Aplication 14.5.2.3. By End-Use 14.6. United Kingdom. 14.6.1. Pricing Analysis 14.6.2. Market Share Analysis, 2022 14.6.2.1. By Technology 14.6.2.2. By Aplication 14.6.2.3. By End-Use 14.7. France 14.7.1. Pricing Analysis 14.7.2. Market Share Analysis, 2022 14.7.2.1. By Technology 14.7.2.2. By Aplication 14.7.2.3. By End-Use 14.8. Spain 14.8.1. Pricing Analysis 14.8.2. Market Share Analysis, 2022 14.8.2.1. By Technology 14.8.2.2. By Aplication 14.8.2.3. By End-Use 14.9. Italy 14.9.1. Pricing Analysis 14.9.2. Market Share Analysis, 2022 14.9.2.1. By Technology 14.9.2.2. By Aplication 14.9.2.3. By End-Use 14.10. China 14.10.1. Pricing Analysis 14.10.2. Market Share Analysis, 2022 14.10.2.1. By Technology 14.10.2.2. By Aplication 14.10.2.3. By End-Use 14.11. Japan 14.11.1. Pricing Analysis 14.11.2. Market Share Analysis, 2022 14.11.2.1. By Technology 14.11.2.2. By Aplication 14.11.2.3. By End-Use 14.12. South Korea 14.12.1. Pricing Analysis 14.12.2. Market Share Analysis, 2022 14.12.2.1. By Technology 14.12.2.2. By Aplication 14.12.2.3. By End-Use 14.13. Singapore 14.13.1. Pricing Analysis 14.13.2. Market Share Analysis, 2022 14.13.2.1. By Technology 14.13.2.2. By Aplication 14.13.2.3. By End-Use 14.14. Thailand 14.14.1. Pricing Analysis 14.14.2. Market Share Analysis, 2022 14.14.2.1. By Technology 14.14.2.2. By Aplication 14.14.2.3. By End-Use 14.15. Indonesia 14.15.1. Pricing Analysis 14.15.2. Market Share Analysis, 2022 14.15.2.1. By Technology 14.15.2.2. By Aplication 14.15.2.3. By End-Use 14.16. Australia 14.16.1. Pricing Analysis 14.16.2. Market Share Analysis, 2022 14.16.2.1. By Technology 14.16.2.2. By Aplication 14.16.2.3. By End-Use 14.17. New Zealand 14.17.1. Pricing Analysis 14.17.2. Market Share Analysis, 2022 14.17.2.1. By Technology 14.17.2.2. By Aplication 14.17.2.3. By End-Use 14.18. GCC Countries 14.18.1. Pricing Analysis 14.18.2. Market Share Analysis, 2022 14.18.2.1. By Technology 14.18.2.2. By Aplication 14.18.2.3. By End-Use 14.19. South Africa 14.19.1. Pricing Analysis 14.19.2. Market Share Analysis, 2022 14.19.2.1. By Technology 14.19.2.2. By Aplication 14.19.2.3. By End-Use 14.20. Israel 14.20.1. Pricing Analysis 14.20.2. Market Share Analysis, 2022 14.20.2.1. By Technology 14.20.2.2. By Aplication 14.20.2.3. By End-Use 15. Market Structure Analysis 15.1. Competition Dashboard 15.2. Competition Benchmarking 15.3. Market Share Analysis of Top Players 15.3.1. By Regional 15.3.2. By Technology 15.3.3. By Aplication 15.3.4. By End-Use 16. Competition Analysis 16.1. Competition Deep Dive 16.1.1. AccuVein, Inc. 16.1.1.1. Overview 16.1.1.2. Product Portfolio 16.1.1.3. Profitability by Market Segments 16.1.1.4. Sales Footprint 16.1.1.5. Strategy Overview 16.1.1.5.1. Marketing Strategy 16.1.1.5.2. Product Strategy 16.1.1.5.3. Channel Strategy 16.1.2. Christie Medical Holdings, Inc. 16.1.2.1. Overview 16.1.2.2. Product Portfolio 16.1.2.3. Profitability by Market Segments 16.1.2.4. Sales Footprint 16.1.2.5. Strategy Overview 16.1.2.5.1. Marketing Strategy 16.1.2.5.2. Product Strategy 16.1.2.5.3. Channel Strategy 16.1.3. Near Infrared Imaging, Inc. 16.1.3.1. Overview 16.1.3.2. Product Portfolio 16.1.3.3. Profitability by Market Segments 16.1.3.4. Sales Footprint 16.1.3.5. Strategy Overview 16.1.3.5.1. Marketing Strategy 16.1.3.5.2. Product Strategy 16.1.3.5.3. Channel Strategy 16.1.4. Venoscope, LLC 16.1.4.1. Overview 16.1.4.2. Product Portfolio 16.1.4.3. Profitability by Market Segments 16.1.4.4. Sales Footprint 16.1.4.5. Strategy Overview 16.1.4.5.1. Marketing Strategy 16.1.4.5.2. Product Strategy 16.1.4.5.3. Channel Strategy 16.1.5. Christie Medical Holdings 16.1.5.1. Overview 16.1.5.2. Product Portfolio 16.1.5.3. Profitability by Market Segments 16.1.5.4. Sales Footprint 16.1.5.5. Strategy Overview 16.1.5.5.1. Marketing Strategy 16.1.5.5.2. Product Strategy 16.1.5.5.3. Channel Strategy 16.1.6. Sharn Anesthesia Inc 16.1.6.1. Overview 16.1.6.2. Product Portfolio 16.1.6.3. Profitability by Market Segments 16.1.6.4. Sales Footprint 16.1.6.5. Strategy Overview 16.1.6.5.1. Marketing Strategy 16.1.6.5.2. Product Strategy 16.1.6.5.3. Channel Strategy 16.1.7. Infrared Imaging LLC 16.1.7.1. Overview 16.1.7.2. Product Portfolio 16.1.7.3. Profitability by Market Segments 16.1.7.4. Sales Footprint 16.1.7.5. Strategy Overview 16.1.7.5.1. Marketing Strategy 16.1.7.5.2. Product Strategy 16.1.7.5.3. Channel Strategy 16.1.8. Veinlite 16.1.8.1. Overview 16.1.8.2. Product Portfolio 16.1.8.3. Profitability by Market Segments 16.1.8.4. Sales Footprint 16.1.8.5. Strategy Overview 16.1.8.5.1. Marketing Strategy 16.1.8.5.2. Product Strategy 16.1.8.5.3. Channel Strategy 16.1.9. ZD Medical Inc. 16.1.9.1. Overview 16.1.9.2. Product Portfolio 16.1.9.3. Profitability by Market Segments 16.1.9.4. Sales Footprint 16.1.9.5. Strategy Overview 16.1.9.5.1. Marketing Strategy 16.1.9.5.2. Product Strategy 16.1.9.5.3. Channel Strategy 16.1.10. Cambridge Medical (Asia) Private Limited 16.1.10.1. Overview 16.1.10.2. Product Portfolio 16.1.10.3. Profitability by Market Segments 16.1.10.4. Sales Footprint 16.1.10.5. Strategy Overview 16.1.10.5.1. Marketing Strategy 16.1.10.5.2. Product Strategy 16.1.10.5.3. Channel Strategy 17. Assumptions & Acronyms Used 18. Research Methodology
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Vein Illuminator Market
