Vein illuminator Market new booming trends in 2023
Market Research Future published a half-cooked research report on "Global Vein Illuminator Market Research Report - Forecast to 2023" – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
A Vein illuminator or Vein Viewer aids in finding the Intravenous access during paramedical procedures and therefore, addresses accidental needlestick injuries. Most of the time finding the vein becomes challenging depending upon the objective difficulty occurred due to the particular physical characteristics of the patient such as fatty tissue, skin color, age, etc. further creating a more painful experience for the patient.
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To ease such situations, many novel devices have been invented to help paramedical personnel and nurses finding the veins in real-time and determine the best point of insertion of the needle. Creating a digital image by means of an infrared detection and light projection technology a vein illuminator thus makes it possible to locate veins, valves, and deep bifurcations up to 15 mm. thereby decreasing pain and anxiety and a minimally invasive experience for the patient.
Intravenous access may be necessary for different purposes and in multiple environments including hospitals, outpatient care facilities, homes, schools within a hospital and ambulatory surgery centers. Also, the peripheral IV catheter therapy is gaining popularity among physicians and patients alike. Hospitals have recognized the benefit of increased success in obtaining peripheral IV access, reduced use of central lines and increased cost savings. These factors commutatively define the growing popularity and the increasing market size of vein illuminators.
Market Research Future (MRFR), in its recently published market forecast, asserts that the global vein illuminator market will grow exponentially by 2023, registering a fabulous CAGR throughout the forecast period (2017 – 2023). Augmenting uptake of Intravenous (IV) therapy and the inclusion of peripheral IV catheter as part of the treatment plan in hospitals worldwide is one of the key driving forces behind market growth.
Undoubtedly, improving economic conditions account for the key growth driver, enabling access to the quality of life and improved healthcare. Additional factors substantiating the market growth include the greater patient satisfaction owing to reduced pain, trauma and invasive treatment footprint.
Similarly, the growing numbers of the geriatric population, blood donation camps, assisted living centers and others are some of the dominant drivers of the market. Besides, the technological and product advances such as developments achieved in optics, like greater contrast and resolution, increasing coherence and miniaturization of devices along with the falling prices of these devices are providing impetus to the market growth to an extent.
However, lack of availability of funds for treatment coupled with the lack of knowledge about vein illuminator benefits inhibits the market growth. Nevertheless, government initiatives and funding programs, widening rapidly are educating people about the advantages of these procedures and are availing funds for the treatments.
VueTek Scientific LLC, Infrared Imaging Systems Inc., Venoscope LLC, Near Infrared Imaging Inc., Christie Medical Holdings Inc., Sharn Anesthesia, TransLite LLC, Aimvein Ltd., and AccuVein Inc. are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global vein illuminator market.
Vein illuminator Market - Segments
Global vein illuminator market is segmented into three key dynamics for enhanced understanding.
By Technologies: Trans-Illumination, Infrared Illumination, and Ultrasound among others.
By End-Users: Hospitals, Blood Donation Camps, Research and Academics, among others.
By Regions: North America, Europe, APAC and the Rest-of-the-World.
Vein illuminator Market - Regional Analysis
Globally North America market dominates the vein illuminator market with the largest share owing to the faster uptake of new technology and the well-developed hospital infrastructure present in the US and Canada.
Also, increasing adoption of Intravenous (IV) therapy and new technologies that integrate into the process for the assessment, planning, intervention, and evaluation of inserting PIV catheters, are some of the key driving forces behind the market growth. Simultaneously, substantial investments transpired in healthcare to encourage research and development activities are supporting the market growth.
The Europe region accounts for the second-largest market for vein illuminator, globally, attributing to the recent advancements and the augmenting uptake of the technology in the region. Additionally, the presence of a huge patient population and rising healthcare expenditure facilitates the regional market growth. Also, factors such as government support and funding from the public & private sectors for research & development are expected to fuel the market growth in the region over the assessment period.
Additional factors such as increased uptake of advanced technologies and high healthcare expenditures are substantiating the market growth. Owing to the rising demands for less invasive treatment procedures, the Europe market is expected to create a larger revenue pocket in the global market by 2023. The UK and Germany, backed by the high healthcare coupled budgets, account for the major contributor to the market growth.
The Asia-Pacific region is another lucrative market for vein illuminator which is growing rapidly due to the huge patient population and large unmet clinical needs.
Countries such as India, China, and Japan, backed by the rising demand for minimally invasive paramedical procedures and the increasing adoption of new techniques drives the market growth in the region.
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Global Vein illuminator Market - Competitive Analysis
The rapidly growing market for Vein illuminator is fiercely competitive and fragmented with many well-established as well as small & new entrants forming the competitive edge. Innovation, new technology launch and Brand reinforcement remain the popular trends for the key players in the market. The growth statistics of the market presage the probable heights the market can reach further.
May 20, 2018 – B. Braun Medical Inc. (US), a leader in infusion therapy and pain management, develops, manufactures, and markets innovative medical products and services to the healthcare industry, showcased its portfolio of innovative products that support successful peripheral intravenous (PIV) access at the Infusion Nurses Society (INS) Annual Meeting and Exhibition, held during May 19-22, Ohio (US).
Along with some novel products such as Introcan Safety, Family of PIV Catheters, VeinViewer, by Christie Medical Holdings, Inc. was a promising product displayed on the show. VeinViewer, a near-infrared vein visualization product designed to provide clinicians with an accurate image of patient veins.
Since B. Braun is committed to the exchange of information and knowledge with nurses and other clinicians to help achieve success in PIV placement and stabilization, the inclusion of VeinViewer was the cherry on the cake.
The alliance between Christie Medical Holdings, Inc. (US), a leading global provider for vein finder technology and B. Braun Medical Inc. was formed on April 27, 2017. The combination of VeinViewer and B. Braun Medical's line of IV products such as the Introcan Safety IV catheter, STEADYCare extension set with Wedge catheter stabilizer aims to provide an innovative solution to enhance peripheral IV catheter access success.
by: ashutosh kalbande