Vein Illuminator Market (227.2 Million USD by 2022 ) Analysis Global forecast to 2022

The vein illuminator market was valued at USD 32.2 Million in 2015 and is expected to reach USD 227.2 Million by 2022 at a CAGR of 32.41% between 2016 and 2022. The base year for analysis in this report is considered as 2015 and the forecast period is between 2016 and 2022.

The market is segmented on the basis of technology, application, end users, and geography. The demand in hospitals is expected to drive the market growth in all the regions, namely, North America, Europe, APAC, and RoW. The North American market is expected to hold the largest share and grow at the highest CAGR between 2016 and 2022. The near infrared illumination (NIR) technology is expected to drive the market owing to its ability to deeply penetrate the biological tissue up to 3 mm deep, which makes it possible to clearly visualize the twisted and curved vessels.

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Hospitals to drive the growth of the vein illuminator market

Vein illuminator devices have a number of applications in end users such as hospitals, rehabilitation centers, academic institutions, blood donation camps, and others. Hospitals are expected to hold the largest share of the vein illuminator market because of the various applications of blood draw and IV access that demand success in the first attempt of pricking to reduce patient discomfort and ensure greater patient satisfaction level. The vein illuminator market for hospitals is expected to grow at the highest CAGR between 2016 and 2022

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North America to hold the largest share of the market

This report covers the vein illuminator market based on four geographic regions, namely, North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is expected to hold the largest market share during the forecast period because of the increasing aging population and pediatric applications. According to the U.S. Census Bureau projection, the population of Americans over the age of 65 is expected to increase by 36% till 2020. This is the segment of the population with the greatest medical needs, including vascular access. As these numbers increase, so does the demand for physician services, which drives the growth of the vein illuminator market.

The major vendors in the vein illuminator market include AccuVein Inc. (U.S.), Christie Medical Holdings, Inc. (U.S.), TransLite LLC. (U.S.), Venoscope LLC. (U.S.), Sharn Anesthesia (U.S.), VueTek Scientific (U.S.), InfraRed Imaging Systems (U.S.), ZD Medical Inc. (U.S.), Cambridge Medical (Asia) Private Limited(Singapore), and Near Infrared Imaging Inc. (U.S.).

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The scope of the report covers detailed information regarding the major factors influencing the growth of the vein illuminator market such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key players has been done to provide insights into their business overview, products & services, key strategies, new product launches, agreements, and recent developments associated with the vein illuminator market.

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