Vein Illuminator Market Will Be Worth USD 358.5 Million By 2024: Grand View Research, Inc.
The global vein illuminator market is expected to reach USD 358.5
million by 2024, according to a new report published by Grand View Research,
Inc. The vein illuminator market is anticipated to witness a lucrative growth
during the period 2016 to 2024. The factors contributing towards the growth of
the market are the growing aging population and the efforts channelized towards
improving patient satisfaction. Additionally, factors, such as the demand for
technologically advanced medical equipment and the rising research and
practical applications are expected to be opportunistic for the industry
growth. However, the prevalence of traditional methods owing to the high costs
of the vein illuminator devices is likely to hinder the growth of the market in
the near future.
The vein illuminator market is
segmented on the basis of technology, application, end-user, and region. Based
on technology, the market is further categorized into transillumination,
infrared technology, and ultrasound. The near-infrared illumination technology
is estimated to be the largest shareholder due to its ability to penetrate deep
into the tissue, which makes it possible to visualize the vessels clearly.
On the basis of application, the
market is segmented into intravenous access and blood draw. The end-user
segment comprises hospitals, rehabilitation facilities, blood donation camps,
and academic institutions. The market for hospitals is expected to grow rapidly
during the forecast period due to a surge in the demand for technologically
advanced medical equipment. The market is also categorized into North America,
Europe, Asia Pacific, MEA, and Latin America.
Browse full research report on Vein Illuminator Market:
http://www.grandviewresearch.com/industry-analysis/vein-illuminator-market
Further key findings from
the study suggest:
- In terms of market share, the North America vein
illuminator market is expected to hold majority of the share in 2016.
Factors resulting in the growth of this industry are the steady preference
for highly-advanced medical devices by hospitals as well as the presence
of several medical device manufacturing companies in the region.
- The infrared illumination technology is estimated to
lead the industry due to its deep penetration capability into thick
tissues tohighlight the presence of vessels with increased clarity. Based
on application, the segment for intravenous access is estimated to be the
largest shareholder, followed by the blood draw segment.
- The vein illuminator industry comprises several local
as well as global players. Some prominent players in this industry
include Accuvein, Inc., Christie Medical Holdings, Inc., Infrared Imaging
Systems, Inc., Translite, LLC, and Venoscope, LLC,among others. In order
to hold a major share in the industry, the companies are adopting both
organic as well as inorganic strategies. The major strategies adopted by
the companies are new product development, mergers, collaborations,
partnerships, geographical expansions, and acquisitions.
- The companies are also focusing on research and
development activities in order to enhance their product portfolio. For
instance, in September 2015, Accuvein, Inc., declared its 26th patent,
which was issued by the United States Patent and Trademark office for
their vein visualization system.
Browse more reports of this category by Grand View
Research : http://www.grandviewresearch.com/industry/medical-devices
Grand View Research has segmented the vein illuminator
market on the basis of technology, application, and end-user application:
Vein Illuminator Technology Outlook (Revenue, USD
Million, 2013 - 2024)
- Transillumination
- Infrared
technology
- Others
Vein Illuminator Application Outlook (Revenue, USD
Million, 2013 - 2024)
- Intravenous
access
- Blood
draw
- Others
Vein Illuminator End-user Outlook (Revenue, USD
Million, 2013 - 2024)
- Hospitals
- Blood
donation camps
- Academic
institutions
- Others
Vein Illuminator Regional Outlook (Revenue, USD
Million, 2013 - 2024)
- North
America
- Europe
- Asia
Pacific
- Latin
America
- MEA
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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