Vein Illumination Devices Market: Introduction
Globally, venipuncture is one of the most widely accepted minimally invasive surgical as well as vascular access procedures. Around one-third of efforts to identify correct vein fail the first time, which results in patient dissatisfaction as well as discomfort. It could also incur additional costs in a few cases. Venipuncture is also termed as phlebotomy. It is a medical technique used to withdraw blood for medical or clinical testing. For example, accessing veins to carry out intravenous therapy or blood sampling is done more than 2.8 million times a day in the U.S.
Current vein illumination devices such as AccuVein AV400 help in visualization of veins, as these devices display a map of vasculature on the surface of the skin. This leads to overall comfort and satisfaction among patients.
Vein Illumination Devices Market: Drivers and Restraints
The global vein illumination devices market is projected to grow at a rapid pace in the next few years. Increase in incidence of blood as well as other acute and chronic disorders and diseases, rise in global geriatric population, and radical changes in drinking as well as eating habits are anticipated to drive the global vein illumination devices market in the near future. Similarly, increase in blood donation activities is expected to propel the global vein illumination devices market. According to a 2019 WHO report, a rapid increase in approximately 11.8 million blood donations from voluntary unpaid donors has been reported from 2008 to 2015.
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Vein illumination devices are being rapidly accepted in the medical industry, as factors such as ease of operation and patient satisfaction drive the adoption of these products. For example, discomfort in infant patients after failure of vein sticking has been one of the major concerns in the health care industry. Moreover, high cost of devices, especially infrared devices, could hamper the growth of the market during the forecast period.
North America to Account for Major Share of Global Vein Illumination Devices Market
- North America accounted for major share of the global market in 2018 due to increase in number of surgeries performed in the region. Moreover, improved reimbursement policies, quick adoption of new products and presence of key players are the other factors attributed to the region’s large market share.
- Asia Pacific is expected to be one of the fastest growing markets for vein illumination devices in the next few years due to improving health care & technological infrastructure, increase in the geriatric population, and rise in unmet medical needs of patients.
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Key Players Operating in Global Vein Illumination Devices Market
The global vein illumination devices market is highly saturated, with major companies implementing strategies to gain market share.
Leading players operating in the global vein illumination devices market are:
- TransLite, LLC
- AccuVein, Inc.
- Sharn Anesthesia
- Christie Medical Holdings, Inc.
- Venoscope, LLC
Global Vein Illumination Devices Market, by Technology
- Infrared Technology
Global Vein Illumination Devices Market, by End-user
- Ambulatory Surgical Centers
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Global Vein Illumination Devices Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa