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.
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Further key findings from the study suggest:
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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)
Vein Illuminator Application Outlook (Revenue, USD Million, 2013 – 2024)
Vein Illuminator End-user Outlook (Revenue, USD Million, 2013 – 2024)
Vein Illuminator Regional Outlook (Revenue, USD Million, 2013 – 2024)
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