Vein Finders Market Size to show robust growth by 2027 with CAGR of 17.0% | TMR Study
Author : Mansi Rajmane | Published On : 07 Mar 2024
Vein finders market was valued at US$ 150.9 Mn in 2018, it is anticipated to expand at a CAGR of 17.0% from 2019 to 2027.
Technological advancements in healthcare are driving the adoption of advanced tools like vein finders worldwide. These tools aim to enhance patient care by facilitating easier vein puncture. Vein finders, easy-to-use devices, are gaining popularity among healthcare professionals for their benefits.
The global vein finders market is expected to see significant demand growth, with active and passive vein finders being the main products. These devices help detect veins under the skin, aiding in blood drawing without patient discomfort. They are particularly useful for difficult-to-access patient groups like obese, geriatric, pediatric, and individuals with darker skin tones. As their usage increases for these populations, the vein finders market is poised for substantial growth in the coming years.
Key players:
Christie Medical Holdings, Inc., AccuVein, Inc., TransLite, LLC, Near Infrared Imaging, Inc., Teleflex Incorporated (VueTek Scientific, LLC), Venoscope, Koninklijke Philips N.V., B. Braun Melsungen AG, VINO Optics, and Becton, Dickinson and Company.
Segmentation:
Type
- Active Vein Finders
- Passive Vein Finders
Application
- Blood Draw/Venipuncture
- IV Access
- Others
End-user
- Hospitals & Ambulatory Surgical Centers
- Specialized Clinics
- Blood Donation Centers
- Others
Regions Covered:
North America(USA, Canada and Mexico)
Europe(UK, Germany, France and the Rest of Europe)
Asia Pacific(China, Japan, India, and the Rest of the Asia Pacific region)
South America(Brazil, Argentina and the Rest of South America)
Middle East and Africa(GCC and Rest of the Middle East and Africa)
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Market Drivers and Challenges
Key drivers influencing the market growth include the rising demand for minimally invasive procedures, technological advancements in vein visualization devices, and the increasing prevalence of chronic diseases requiring venous access. However, challenges such as the high cost of advanced vein finders and limited reimbursement policies in certain regions may hinder market expansion.
Market Trends
Emerging trends in the vein finders market include the integration of artificial intelligence and machine learning algorithms for enhanced vein detection accuracy, the development of portable and wireless vein finders for improved mobility and convenience, and the focus on ergonomic designs for user comfort and ease of use.
Future Outlook
The future of the vein finders market looks promising, with opportunities for market players to introduce innovative products and expand their geographical presence. Technological advancements, coupled with the growing adoption of vein finders in emerging economies, are expected to drive market growth over the forecast period.
Key Market Study Points
- Market size and growth projections.
- Demand analysis by service type, application, and region.
- Competitive analysis of key players.
- Regulatory landscape and reimbursement policies.
- Technological innovations and product developments.
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