Vein Finder Market Size, Share, Growth, And Industry Analysis By Type (Display Type, Non-display Type) By Application (Hospitals and Clinics, Blood Center and Research Center, Others) and Regional Forecast to 2028

Updated On: 22 April 2024

Report Overview

• 

• Request a Free Sample to learn more about this report

The global vein finder market size was 170.5 million in 2022. As per our research, the market is expected to reach USD 529.8 million by 2028, exhibiting a CAGR of 20.8% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

A vein finder is a type of device used by doctors to visualize veins for vein puncture and cannulation. Vein Finders provide real-time visual mapping of veins on the surface of the skin using a range of technologies including infrared, ultraviolet and ultrasound. A venous catheter is an ingenious device that helps healthcare professionals draw blood and find veins for IV placement.

Increasing aging population suffering from chronic diseases leading to increase in hospitalizations will lead to expansion of vein detection industry during the estimated time frame. Furthermore, growing fashion sector and emerging personal care and cosmetics industries will drive the Vein Finders market growth during the forecast period.

COVID-19 Impact: The pandemic leading banned blood donation hence reduced the market expansion

In light of the new coronavirus epidemic, blood donation volumes have fallen to alarmingly low levels worldwide. This remarkable decrease is due to the fact that some countries have banned blood donation from people who have been vaccinated against COVID-19, and the restrictive measures implemented due to the increase in infections have also contributed to the overall decrease in the number of cases. Donors such situations may have hindered the steady expansion of the vein lighting equipment industry in recent months. However, the availability of IV drugs for mild to moderate COVID-19 patients may benefit the industry in the near future.

Latest Trends

"Growth of Vein Finder Applications and End Users "

Vein finder is very useful in hospitals, outpatient clinics, ambulatory surgery centers, diagnostic laboratories and home care. In addition, vein tracking is also useful in veterinary clinics. The device is also used to detect veins in animals. Vein puncture reduces the surgical challenges of simple needle insertion in the veterinary clinic and thus ensures animal comfort. Vein meters save valuable time and are easy to use for nurses and patients. Expansion among end users will boost the growth of the wind instruments market.

Segmentation

• 

• Request a Free Sample to learn more about this report

• By Type Analysis

According to type, the market can be segmented into Display Type, Non-display Type. Display Type is anticipated to be the leading segment.

• By Application Analysis

Based on application, the market can be divided into Hospitals and Clinics, Blood Center and Research Center, Others. Hospitals and Clinics will be the dominating segment.

Driving Factors

"Diffusion of vein locators and improvement of customer satisfaction fuel the market growth"

Hospitals have achieved higher levels of customer satisfaction after using vein puncture for IV placement and blood draws at their facility. Vein meters help nurses and doctors easily access and locate a vein and provide valuable information for a vascular access procedure. Vein puncture increases the likelihood of drawing blood and inserting an IV the first time. This reduced the need for multiple needles for blood collection and the resulting discomfort and pain during blood collection and intravenous administration. This, in turn, has helped hospitals achieve customer satisfaction and acted as a catalyst for the growth of the global vascular radar market.

"Growing personal care and Increasing aging population suffering from chronic diseases fuel the market growth"

Increasing aging population suffering from chronic diseases leading to increase in hospitalizations will lead to expansion of vein detection industry during the estimated time frame. Furthermore, growing fashion sector and growing personal care and cosmetics industry will fuel the vein finder market growth during the forecast period. However, venous catheters are easy to use and help save time for doctors, patients and medical or hospital staff. In addition, the market trends are accelerating due to the high level of consumer satisfaction achieved by hospitals and clinics using the products. The demand for vein locators is increasing significantly due to their increasing reliability and accuracy in locating veins and is one of the major factors driving the growth and demand of the vein locators market.

In addition, increasing demand for accurate and safe medical practices will also contribute to the growth of the global Vein Finder market during the forecast period of 2021-2028. Growth is also fueled by a growing elderly population and the prevalence of chronic diseases. Also, the demand for angiometers is likely to be influenced by the widespread adoption of angiometers and customer satisfaction, which will drive the growth of the market. Growth opportunities in the cosmetic industry and the emerging field of mobile healthcare and technology development will further accelerate the expansion of the angiography market and also provide significant growth

Restraining Factors

"Lack of skilled professionals may restrict the market growth"

However, access to people of color and obesity will limit the growth of the vein finder market, while lack of skilled professionals may challenge the growth of the vein finder market. Lack of qualified professionals may hinder the growth of the vein finder market. Additionally, the increasing popularity of these products among healthcare professionals will create incredible demand opportunities for vendors operating in the global vein finder market in the coming years.

Regional Insights

• 

• Request a Free Sample to learn more about this report

"North America will be dominating region during forecast period owing to government initiatives"

North America is expected to dominate the global vein finder market share for finding veins. Factors such as initiatives by governments and other organizations related to water-finding equipment are expected to have a positive impact on the growth of the North American water-finding equipment market. For example, in September 2018, the Charlotte Eleanor Englehart Hospital Foundation in Ontario, Canada, launched the "Smile Cookie Campaign" fundraising event. Funds raised were used to purchase vein finders for Charlotte Eleanor Englehart Hospital. In November 2018, the NEO Kids Foundation in Sudbury, Canada ran a campaign to raise money for a vein viewer. This access point device was given to children receiving care at Northern Health Sciences Hospital. Hence, such initiatives are expected to spur the growth of the global vein research market.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• AccuVein (U.K.)
• Christie (U.S.)
• VEINCAS (China)
• Novarix (U.K.)
• Evena (U.S.)
• TransLite (U.S.)
• Vuetek (U.S.)
• Rencongzhong (U.K.)
• ZD Medical (China)
• BLZ Technology (China)
• Biobase (China)
• STIHLER ELECTRONIC (Germany)
• Near Infrared Imaging U.S.)
• de Koningh Medical Products (Netherlands)
• InSono (U.S.)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.