Please Wait.....
Report
Vein Illuminator - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029
Market Report I 2024-02-17 I 110 Pages I Mordor Intelligence
The Vein Illuminator Market size is estimated at USD 339.29 million in 2024, and is expected to reach USD 946.29 million by 2029, growing at a CAGR of 22.77% during the forecast period (2024-2029).
Hospitals are the major. Hospitals have been the prime beneficiaries of such products, owing to the ease of performing blood draw activities because of this product, the demand is increasing and driving the market. Successful blood draws in the first attempt due to this product is increasing customer satisfaction, owing to which the need for the product is rising at the end-user industries.
Key Highlights
-According to world population review, the number of obese people in the world is approximately 2.1 billion, and the numbers ar eon the rise. Over 3 million people each year die from obesity, and many governments are spending on healthcare and awareness. Obesity remains a significant hurdle for conducting venipuncture-based procedures; body fat makes it difficult to detect the veins.
-The American Red Cross has a critical need for type O blood donations and is currently calling for individuals to donate the blood. Presently, there are just six units of type O blood available for every 100,000 people; this number is required to be two times of what it is currently. Drives like these are expected to increase the demand for the product.
-The increasing hygiene regulations in the medical field is also increasing the demand for vein illuminators. Such standards mandate the use of these products for the insertion of catheters and syringes. The Infusion Nurses Society(INS) is one such institution that has mandated the use of vein visualization technology.
-According to a report by the National Health Service(NHS) of Scotland, 80% of the occupational needlestick injuries could have been avoided with the usage of a safety device.
Vein Illuminator Market Trends
Growing Healthcare Spending and Equipment Market Expected to Drive the Market
- Based on Centers for Medicare & Medical Services data the US government's national healthcare spending is projected to grow at an average rate of 5.5% per year from 2018-27 and reach nearly USD 6 trillion by 2027. This is expected to drive the market.
- The Indian healthcare industry is experiencing rapid changes and growth and has become the country's one of the largest sectors. According to the International Trade Association, India's USD 150 billion healthcare market in 2018 is expected to reach USD 280 billion. Healthcare in India consists of hospitals, medical devices, clinical trials, outsourcing, telemedicine, medical tourism, health insurance, and medical equipment.
- The rise of medical procedures is expected to drive the market demand positively. According to the American Society of Plastic Surgeons, almost 18 million people underwent surgical and minimally invasive cosmetic procedures in the US during 2018.
- Companies, such as AccuVein, have been increasingly suggesting the need for such technologies. The use of AccuVein technologies has increased the chance of a successful first-time stick by about 3.5 times the existing success rate.
North America Holds A Significant Share of the Market
- According to the CDC report, the prevalence of obesity among adults aged 20 and over in the US during fiscal 2018 stood at 31.7%. These factors further emphasize the need for vein visualization techniques for accurate procedures.
- The US is currently a prominent market for medical equipment for both imports and exports. According to MFDS, Korea exported USD 618.69 million worth of medical equipment to the US during fiscal 2018.
- Canada is one of the significant markets for the healthcare industry, during fiscal 2018 the number of procedures submitted to CJRR stood at 94,439. The growth in the number of procedures done is expected to drive the market for vein illuminators.
- Canada has a prominent medical device market; according to EMERGO Canada's medical device market is expected to reach USD 8.6 billion by 2020 and device imports account for 80% of the medical device market.
Vein Illuminator Industry Overview
The market is currently fragmented with few smaller vendors who are trying to innovate the technology offerings on their product line.The major companies includeAccuVein Inc.,VueTek Scientific LLC,Venoscope LLC,Christie Medical Holdings Inc.,Near Infrared Imaging Inc., and many more.
- MARCH 2019 - AccuVein's 40th patent was issued by The United States Patent and Trademark Office, extending the protection of AccuVein's market-leading Vein Visualization System. The company's patents are still pending in the United States and around the world.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Scope of the Study
1.2 Key Study Deliverables
1.3 Study Assumptions
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Increased Success Rate of Blood Draw at First Attempt
4.3.2 Increased Patient Satisfaction
4.4 Market Restraints
4.4.1 Higher Costs
4.5 Industry Attractiveness - Porter's Five Force Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Buyers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Application
5.1.1 Venipuncture Assistance
5.1.2 IV Access
5.1.3 Sclerotherapy
5.1.4 Other Applications
5.2 By End User
5.2.1 Hospital
5.2.2 Blood Camp
5.2.3 Rehabilitation
5.2.4 Academic Institution
5.2.5 Parademic Application
5.2.6 Other End Users
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 Latin America
5.3.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 AccuVein Inc
6.1.2 VueTek Scientific LLC
6.1.3 Venoscope LLC
6.1.4 Christie Medical Holdings Inc.
6.1.5 Near Infrared Imaging Inc.
6.1.6 Sharn Anesthesia
6.1.7 Zd Medical Inc.
6.1.8 TransLite LLC.
6.1.9 Venoscope LLC
6.1.10 Cambridge Medical (Asia) Private Ltd
7 INVESTMENT FUTURE
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security