Major driving factors are rise in cosmetic procedures across the globe, increase in geriatric population, rise in prevalence of obesity, and technological advancements are fuelling the growth of the market.
The global vein finders market accounted for US$ 163.59 Million in 2020 and is estimated to be 891.40 Million by 2030 and is anticipated to register a CAGR of 18.6%. The report "Global Vein Finders Market, By Type (Non-Imaging Type Vein Finder, Portable Type Vein Finder, Fixed Type Vein Finder, and Wearable Type Vein Finder), By Application (Hospitals, Clinics, Private Health Care Practices, Blood Donation Centers, and Other), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030.
Key Market Insights from the report:
The global vein finders market accounted for US$ 163.59 Million in 2020 and is estimated to be 891.40 Million by 2030 and is anticipated to register a CAGR of 18.6%. The market report has been segmented on the basis of product type, application, and region.
• By type, the global vein finders market registered highest growth in active vein finders in 2017. Growing demand for portability and interconnectivity with other IoT technologies remain key to future growth for both types.
• By application, the target market is segmented into hospitals, clinics, private health care practices, blood donation centers, and other
• By region, North America is estimated to dominate the overall market by contributing a major mass of revenue over the forecast period. Additionally, growth in the frequency of medical surgeries in countries such as the U.S. has impelled the product demand in the region.
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Competitive Landscape:
The prominent player operating in the global vein finders market includes AccuVein Inc., Christie Medical Holdings, Koninklijke Philips N.V, TransLite, LLC, Osang Healthcare Co. Ltd, Teleflex Inc. (Acq. VueTek Scientific, LLC.), ZD Medical, Vivolight, Venoscope LLC, and Shenzhen Bestman Instruments Co., Ltd.
The market provides detailed information regarding industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory framework across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included into the report.
Key Highlights:
• On June 2019, he CAREstream Group declared its acquisition of Christie Medical Holdings, Inc. of Memphis, TN. Christie Medical Holdings is the innovator in vein visualization and operates in over 50 countries globally. The CAREstream Group is the leading distributor for clinical, anesthesia, respiratory, EMS, aesthetic and regenerative solutions for a variety of tenders
• On November 2019, AccuVein Inc., the global leader in vein visualization, declared an Original Equipment Manufacturer (OEM) agreement with Greiner Bio-One, an innovative medical technology company. Greiner Bio-One will be compromising the Greiner Bio-One AV400 vein scanner, (sold in the U.S. as the AccuVein), in its product posing to all South American countries.
Analyst View:
Increasing Adoption of Vein Finder and Excellence in Customer Satisfaction
Higher customer satisfaction has been achieved by hospitals after using a vein finder in their facility for IV insertion and to draw blood. Vein finders help nurses and physicians to access and locate the vein easily and deliver valuable information for the vascular access procedure. A vein finder proliferates the probabilities of drawing blood and inserting IV in the first attempt. This has decreased the use of multiple needles to draw blood and subsequently the discomfort and pain caused during blood drawing and IV insertion. This has, in turn, assisted hospitals to gain customer satisfaction and acts as the boosting factor for the growth of the global vein finder market.
Growth in Applications and End Users of Vein Finder
Vein finders are very beneficial in hospitals, outpatient clinics, ambulatory surgical centers, diagnostic labs, and home care settings. In addition, a vein finder is also beneficial at veterinary clinics. The device is also used for spotting veins in animals. A vein finder reduces the challenges faced during operations during simple needle insertion in the veterinary setting, and thus allowing more comfort to the animal. Vein finders are easy to save valuable time and simple to use for both nurses and patients. The expansion among end-user is boosting the market growth of vein finders.
Cosmetic procedures creates growth opportunities
Changing lifestyles are propelling substantial growth for vein finders market, mainly in aesthetic advancements. Additionally, vein finders has a potent application in face development procedures like skin tightening, dermal fillers, and sclerotherapy.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Vein Finders Market”, By Type (Non-Imaging Type Vein Finder, Portable Type Vein Finder, Fixed Type Vein Finder, and Wearable Type Vein Finder), By Application (Hospitals, Clinics, Private Health Care Practices, Blood Donation Centers, and Other), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030
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Some Important Points Answered in this Market Report Are Given Below:
• Explains an overview of the product portfolio, including product development, planning, and positioning
• Explains details about key operational strategies with focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
• Detailed analysis of the market revenue over the forecasted period.
• Examining various outlooks of the market with the help of Porter’s five forces Analysis, PEST & SWOT Analysis.
• Study on the segments that are anticipated to dominate the market.
• Study on the regional analysis that is expected to register the highest growth over the forecast period
Key Topics Covered
1. Introduction
• Study Deliverables
• Study Assumptions
• Scope of the Study
2. Research Methodology
3. Executive Summary
• Opportunity Map Analysis
• Market at Glance
• Market Share (%) and BPS Analysis, by Region
• Competitive Landscape
• Heat Map Analysis
• Market Presence and Specificity Analysis
4. Investment Analysis
5. Competitive Analysis
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