Vein Finders Market: Snapshot

With technological advancement in healthcare sector, the healthcare professionals from all across the globe are growing focus toward the use of advanced tools such as vein finders. The main motive of using these tools is to offer superior healthcare services to patients. Vein finders are one of such helpful tools gaining traction in the industry due to several advantages they offer. These are easy-to-operate tools that are widely utilized for the process veinpuncture. Thus, growing popularity of these products among healthcare professionals is likely to generate stupendous demand opportunities for vendors operating in the global vein finders market in the years ahead.

Mainly, there are two products available in the vein finders market, namely, active vein finders and passive vein finders. These products hold an ability to detect prominent veins under the skin and help in drawing the blood without causing any discomfort to patient. Apart from drawing blood, vein finders are also used to gain IV access in numerous patient groups such as obese, geriatric, pediatric, and people of color when finding a vein is difficult. Thus, the increased use of these devices for these patient pools is projected to stimulate promising demand opportunities in the global vein finders market in the forthcoming years.

The global vein finders market is expected to gather promising growth opportunities in the years ahead. One of the key factors driving the demand avenues in the market is increased use of these devices in hospitals and nursing homes all across the globe. Apart from this, the vein finders market is predicted to gather lucrative avenues in the forthcoming years on the back of increased older population, which is at higher risk of getting chronic diseases.

Owing to recent COVID-19 pandemic, there is remarkable rise in the number of laboratory testing procedures carried out worldwide. This scenario has created promising sales opportunities for vendors working in the global vein finders market. Thus, companies are increasing focus toward maintaining the demand–supply ratio. They are strategizing business moves to deal with the impact of the recent pandemic and fulfill the increased market demand.

Global Vein Finders Market – Overview

On a stellar growth trajectory, from 2019 to 2027, the global vein finder market is set to witness massive demand over the forecast period. Having a prominent place in the healthcare industry as an essential tool in venipuncture procedures, the vein finders will see demand arising for a number of factors such as a rapidly ageing population and increase in obesity. To understand the degree to which these factors would contribute to this growth in the market over the forecast period, it is significant to detail out the following factors.

  • One in every six people in the world will be aged 65 and above by 2050. 2 billion people will fall in the age group of 62 and above. World over, some regions will see a more pronounced situation than others. For instance, North America and Europe will have a higher percentage of older people. In Europe, countries such as Spain and Italy will be one of the foremost countries having a humoungous geriatric population.
  • This demographic is susceptible to injuries and diseases and often requires blood and other related pathological testing.  In the year 2018, for the first time number of people in the age bracket stated at the beginning – 65 and above – crossed the number of people aged below 6.
  • Access in people of color and obese people is often a challenge. It is pertinent to note here that obese people often suffer from a number of ailments that require testing and this contributes immensely to the growth of global vein finders market over the forecast period. It is pertinent to note here that since 1975, obesity has tripled.

Global Vein Finders Market - Snapshot

Vein finders are essential tools used by health care professionals during venipuncture procedures that enable detection of invisible veins without causing patient discomfort. These are advanced devices used to detect veins under the skin to draw blood and IV access in various patient groups including geriatric, obese, and people of color where it is difficult to find veins. Increase in the geriatric population suffering from chronic diseases leading to high hospitalization admissions is projected to boost demand for vein finders in the next few years. The global vein finders market was valued at US$ 150.9 Mn in 2018 and is anticipated to expand at a CAGR of 17.0% from 2019 to 2027. 

vein finders market

The global vein finders market has been segmented based on type, application, end-user, and region. In terms of type, the global market has been classified into active vein finders and passive vein finders. The active vein finders segment held major share of the market in 2018. The segment is expected to expand at a high CAGR during the forecast period, owing to increase in adoption of active vein finders in hospitals and nursing homes for venipuncture procedures and IV access. Based on application, the global vein finders market has been categorized into blood draw/venipuncture, IV access, and others. The blood draw/venipuncture segment accounted for significant share of the global market in 2018. Rise in venipuncture procedures across the globe is likely to boost demand for vein detection devices. In terms of end-user, the global market has been segregated into hospitals & ambulatory surgical centers, specialized clinics, blood donation centers, and others. The hospitals & ambulatory surgical centers segment is projected to account for major share of the global market during the forecast period. 

In terms of region, the global vein finders market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for major share of the global market in 2018. Rise in cosmetic surgeries performed in the U.S., leading to increase in demand for vein finders, is a major factor boosting the market in the country. According to the International Society of Aesthetic Plastic Surgery (ISAPS), 1.9 million injectable cosmetic procedures were performed in the U.S. in 2017, of which 0.7 million were hyaluronic acid dermal filler procedures, wherein vein finders were used to locate and avoid veins and minimize bruising in patients. The market in Europe is anticipated to expand at a high CAGR in the near future, owing to rise in prevalence of obesity, which makes vein identification difficult. The market in Asia Pacific is likely to expand at a high CAGR during the forecast period. Large geriatric patient pool and frequent blood tests performed in hospitals & diagnostic labs are projected to propel the market in Asia Pacific in the next few years.

Key players operating in the global vein finders market include 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. These companies have broad product portfolio of vein finders along with strong geographic presence across the globe.

Global Vein Finders Market: Overview 

This report analyzes the current and future scenario of the global vein finders market. Rise in cosmetic procedures across the globe, increase in geriatric population, rise in prevalence of obesity, and technological advancements such as introduction of passive vein finders are the key factors projected to drive the global vein finders market during the forecast period. 

The global vein finders market report comprises an elaborate executive summary, which includes a snapshot that provides information about various segments of the market. It also provides information and data analysis of the global market with respect to segments based on type, application, end-user, and region. A detailed qualitative analysis of drivers and restraints of the market and opportunities has been provided in the overview section. Additionally, the section comprises a competitive matrix and company profiles with product portfolios to understand the competitive landscape in the market. This section of the report also provides market attractiveness analysis by region and market share analysis by key players, thereby presenting a thorough analysis of the overall competitive scenario in the global vein finders market. 

Global Vein Finders Market: Key Segments 

The global vein finders market has been segmented based on type, application, end-user, and region. In terms of type, the global market has been bifurcated into active vein finders and passive vein finders. Based on application, the global vein finders market has been segmented into blood draw/venipuncture, IV access, and others. In terms of end-user, the global market has been divided into hospitals & ambulatory surgical centers, specialized clinics, blood donation centers, and others. The market size and forecast for each of these segments have been provided for the period from 2017 to 2027, along with their respective CAGRs for the forecast period from 2019 to 2027, considering 2018 as the base year. 

Global Vein Finders Market: Regional Outlook 

The global vein finders market has been segmented into five major regions: North America (the U.S. and Canada), Europe (the U.K., Germany, France, Spain, Italy, and Rest of Europe), Asia Pacific (India, China, Japan, Australia & New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Middle East & Africa (GCC Countries, South Africa, and Rest of Middle East & Africa). The market size and forecast for each of these regions and countries/sub-regions have been provided for the period from 2017 to 2027, along with their respective CAGRs for the forecast period from 2019 to 2027, considering 2018 as the base year. The research study also covers the competitive scenario in these regions. 

Companies Mentioned in the Report

The report also profiles major players in the global vein finders market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments. Major companies profiled in the report are AccuVein, Inc., TransLite, LLC, Christie Medical Holdings, Inc., Teleflex Incorporated (VueTek Scientific, LLC), Koninklijke Philips N.V., Venoscope, Becton, Dickinson and Company, VINO Optics, Near Infrared Imaging, Inc., and B. Braun Melsungen AG. 

The global vein finders market has been segmented as below:

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

Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • India
    • China
    • Japan
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

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