Vein Illuminator Device Market Trends

  • Report ID: 516
  • Published Date: Sep 11, 2024
  • Report Format: PDF, PPT

Vein Illuminator Device Market Trends

Growth Drivers

  • Rising Prevalence of Blood Borne Diseases

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.

  • Infections Caused by Wrong Use of Syringes for Blood Collection
  • World Health Organization (WHO) reported that 290 000 deaths were caused by hepatitis C in 2019 while 1.67 million new cases of hepatitis B are caused annually by unsafe injection practices.
  •  Global Expansion of Hospitals and Blood Donation Camps 

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.

  • Increasing Expenditure on Healthcare

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.

  • Overweight and Obesity Among Adults

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

  • Higher Price Associated with Vein Illuminators
  • Lack of Awareness about the Product
  • Availability of Non-Branded and Cheap Products in Market

Vein Illuminator Market: Key Insights

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

  • North America (U.S., and Canada)
  • Asia Pacific (Japan, China, India, Indonesia, South Korea, Malaysia, Australia, Rest of Asia Pacific)
  • Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Brazil, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Browse Key Market Insights with Data Illustration:


Author Credits:  Radhika Pawar


  • Report ID: 516
  • Published Date: Sep 11, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Rising incidences of chronic conditions and blood borne diseases are major factors driving the growth of the vein illuminator device market.

The market is anticipated to attain a CAGR of ~30% over the forecast period, i.e., 2022 – 2031.

High cost associated with product and lack of awareness vein illuminator device of among people are expected to hamper the market growth.

The market in North America is projected to hold the largest market share by the end of 2031 and provide more business opportunities in the future.

The major players in the market are Qingdao Bright Medical Manufacturing Co Ltd, Ibis Medical Equipment & Systems Pvt. Ltd., Venoscope, LLC, Christie Medical Holdings, Inc., Sharn Anesthesia, Inc., TransLite, LLC., AimVein, and others.
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