Global Vein Illumination Technologies Market to Reach $468.7 Million by 2026

SAN FRANCISCO, June 30, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Vein Illumination Technologies - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 8; Released: January 2021
Executive Engagements: 466
Companies: 35 - Players covered include AccuVein Inc; BLZ Technology (Wuhan) Co., Ltd; Braun Medical Inc; Christie Medical Holdings, Inc; Sharn Anesthesia; TransLite LLC; Venoscope, LLC; Vivolight; ZD Medical Inc and Others.
Coverage: All major geographies and key segments
Segments: Technology (Transillumination, Infrared, Ultrasound); Application (Intravenous Access, Blood Draw, Other Applications); End-Use (Hospitals, Blood Donation Camps, Academic Institutions, Other End-Uses)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; Rest of World.

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ABSTRACT-

Global Vein Illumination Technologies Market to Reach $468.7 Million by 2026
Vein visualization represents a technology that aids healthcare professionals in locating the best veins needed for blood draws and IV starts. Also called vein mapping or vein illumination, the technology provides a real time visual map of veins upon the skin's surface. Vein illuminator devices, also called vein finders, use advanced visualizing technologies for aiding healthcare professionals easily locate veins that are hard-to-find. A vein illuminator is a usually a hand-held device to be held over the skin from where it displays the skin's vasculature for easy location and puncturing of veins, causing less discomfort to patients. In patients with fragile skin, especially geriatric patients, infants, and obese persons, nurses and doctors cannot easily locate veins, creating the need for vein illumination technologies. Illuminator devices are also used for locating veins in patients with dark skin, obese people, agitated patients, and in those whose veins are not palpable or visible and those with burn injuries. The device eliminates unnecessary pricking of needles as it allows for precise location of veins. Vein illuminators are used during surgeries, emergency medical services, in blood centers and also for home healthcare.

Amid the COVID-19 crisis, the global market for Vein Illumination Technologies estimated at US$104.2 Million in the year 2020, is projected to reach a revised size of US$468.7 Million by 2026, growing at a CAGR of 28.2% over the analysis period. Transillumination, one of the segments analyzed in the report, is projected to grow at a 26.7% CAGR to reach US$243.9 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Infrared segment is readjusted to a revised 31.1% CAGR for the next 7-year period. This segment currently accounts for a 36.6% share of the global Vein Illumination Technologies market.

The U.S. Market is Estimated at $49.7 Million in 2021, While China is Forecast to Reach $32.6 Million by 2026
The Vein Illumination Technologies market in the U.S. is estimated at US$49.7 Million in the year 2021. The country currently accounts for a 38.81% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$32.6 Million in the year 2026 trailing a CAGR of 34% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 24.4% and 24.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 27.8% CAGR while Rest of European market (as defined in the study) will reach US$42.9 Million by the close of the analysis period. The major growth promoting factor for the market for vein illuminators globally is the growing healthcare expenditure in countries across the world. Growing inclination of physicians and nurses towards using devices and aids that are technologically advanced promotes market growth. Manufacturers offering the devices also launch new and advanced products on a regular basis, which also drives market growth. Over the years, healthcare technology advancements led to novel medical device innovations with enhanced functionalities.

Ultrasound Segment to Reach $77.2 Million by 2026
Akin to the ultrasound clinical imaging technology, ultrasound vein illumination uses sound waves to map the skin and produce an image for the healthcare professional. Doppler ultrasound can also detect blood flow within the patient, further aiding accurate identification of the veins. Some of the use cases for ultrasound imaging for vein illumination include USGPIV (Ultrasound Guided Peripheral IV Access) and PICC (Peripherally Inserted Central Catheters). Such procedures require skilled professionals with adequate training and are generally expensive. In the global Ultrasound segment, USA, Canada, Japan, China and Europe will drive the 24.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$15.9 Million in the year 2020 will reach a projected size of US$74.1 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$9.3 Million by the year 2026. More

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Global Industry Analysts, Inc.
Phone: 1-408-528-9966
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