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
Base Year |
2023 |
Forecast Year |
2024-2036 |
CAGR |
23.6% |
Base Year Market Size (2023) |
USD 209.13 million |
Forecast Year Market Size (2036) |
USD 3.28 billion |
Regional Scope |
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Author Credits: Radhika Pawar
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