Vein Illuminator Market size was valued at USD 209.13 million in 2023 and is set to exceed USD 3.28 billion by the end of 2036, registering over 23.6% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of vein illuminator is estimated at USD 248.61 million.
The growth of the vein Illuminator market can be attributed to the rising geriatric population and the increasing prevalence of chronic conditions among the population. It was observed that about 16 million deaths were caused by cardiovascular diseases, cancer caused around 9000 deaths while due to respiratory diseases, approximately 4000 people died in 2019, A higher prevalence was found among women, older adults, and rural residents.
It is difficult to find veins in patients with fragile skin, especially elders, babies, and obese patients. Therefore, this creates the need for a Vein Illuminator that enables doctors and nurses to locate veins in patients for venipuncture and blood draw. The vein illuminator uses NIR (near-infrared) imaging to detect veins accurately under the skin. Furthermore, the increasing number of surgical procedures and the consequent rise in the need for intravenous (IV) therapy after surgery is expected to drive the global Vein Illuminator market during the forecast period. For instance, there are about 300 million major surgical procedures performed worldwide each year. Other factors, including growing healthcare expenditure, increasing public spending on healthcare services, and the emergence of advanced Vein Illuminators are further estimated to enlarge the global Vein Illuminator market size during the forecast period.
Growth Drivers
Anemia, which is a major global health concern, is known to primarily affect children and pregnant women. A staggering 42% of children less than 5 years old and 40% of pregnant women are stated to be living with anemia across the globe.
The rising cases of blood diseases such as anemia, leukocytosis, and hemophilia requires lengthy blood treatment regimens which is expected to fuel the demand for Vein Illuminators over the forecast period.
Between 2008 to 2018, voluntary unpaid blood donations increased by 10.7 million. Worldwide, 118.5 million blood donations are collected. The majority of these are collected in high-income countries. Over 13,300 blood donation centers in 169 countries report collecting 106 million donations in total.
According to Centers for Medicare & Medicaid Services, the federal government financed the largest share of total health spending (36.3 %), followed by households (26.1 %). State and local governments accounted for 14.3 percent of total health care spending, while private businesses accounted for 6.5 percent.
According to Centers for Disease Control and Prevention the prevalence of obesity in the US increased from 30.5% in 1999-2000 to 41.9% in 2017-2020. A similar increase of 4.7% in the prevalence of severe obesity occurred during the same period.
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
23.6% |
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Base Year Market Size (2023) |
USD 209.13 million |
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Forecast Year Market Size (2036) |
USD 3.28 billion |
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Regional Scope |
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The market is segmented by technology into transillumination, near-infrared, and ultrasound. Out of these, the transillumination segment is anticipated to capture the largest market size in the global Vein Illuminator market on account of extensive usage of the transillumination vein locators for peripheral venous line procedures. It is observed, that the success rate of cannulation was significantly higher in the US group (~80%) than in the Veinlite group (~55%), about 90% of the US group and around 80% of the Veinlite group achieved good overall success rates. Moreover, the adoption of this technology is rapidly increasing owing to its benefits, including less pain, precise vein identification, and reduced risk of bruising and bleeding. Therefore, these technological benefits are expected to contribute to segment growth over the forecast period.
Our in-depth analysis of the global Vein Illuminator market includes the following segments:
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By Technology |
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By Application |
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By End User |
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North America Market Statistics
Regionally, the global Vein Illuminator market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America industry is predicted to hold largest revenue share by 2036, impelled by strong healthcare industry and increasing healthcare expenditure in the region. According to data released by the Centers for Medicare & Medicaid Services, United States health care expenditure reached USD 4.1 trillion in 2020. In addition, the demand for vein illuminators is expected to grow over the forecast period owing to the increasing geriatric population in the region as well as the large usage of vein illuminators during venipuncture. According to the data provided by World Bank, the geriatric population in United States is stated to reach 56,545,938 in 2021. Furthermore, the presence of major established market players in the region is also projected to drive the Vein Illuminator market during the forecast period.
February 2, 2021: AccuVein Inc. announced that the Infusion Nurses Society (INS) recommends the use of NIR vein visualization technology for venipuncture procedures, to help in vein selection by assessing peripheral venous systems.
July 23, 2020: ZD Medical Inc. upgraded its Vein Finder System- Vascular Positioning to provide more effective vein visualization solutions.
Author Credits: Radhika Pawar
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