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Vein Illumination Devices Market Set to Grow 1.1 Billion USD By 2021

Monday, October 24, 2016 11:51
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Vein Illumination Devices Market Analysis: By Technology (Hyper-spectral Sensor, RDAV, Df2, Infrared); By End-User (Hospitals, Rehabilitation Centers, Research Institutions) – Forecast (2015 – 2020)

Vein illumination devices are becoming more prevalent in the medical industry as patient satisfaction from these devices is set to drive adoption. In healthcare facilities demand for improving first stick and two stick success rates in order to enhance patient satisfaction have driven the market for vein illumination. Patient discomfort regarding the failure of vein sticking has been a major issue in this market and with vein illuminators improving the stick success rate, they will face growing adoption.

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The overall market is segmented based on device technologies (hyper-spectral sensor, RDAV, IR technology, Df2 technology and Magnification); by application (healthcare centers, nursing homes, blood donation camps, academic institutions, rehabilitation centers, infusion centers, surgery centers and emergency care); by skin tones (fair, light brown, dark brown and dark); by age-group (infants, youth and old-aged) and by application (IV therapy, IV infiltrations, haemophilia, administrators, home care, neonatal application, cosmetic procedures, vein imaging, blood draw and vascular procedures).

The biggest end user segment for the vein illumination devices market is home care/long term care as the patient pool gradually switches to affordable home care. In terms of technology, Infrared technology is at the heart of things as it’s able to provide clear and accurate representation. It’s essential for conducting safe medical treatment. The introduction of Affordable Healthcare Act has provided boost to the industry. The reimbursement for hospitals and clinics will depend upon the patient safety and level of satisfaction.

The major applications for the vein illumination devices market includes IV therapy, IV infiltrations, haemophilia, administrators, home care, neonatal application, cosmetic procedures, vein imaging, blood draw and vascular procedures. The overall market generated annual revenue of $292.6m in 2015 and is estimated to grow with CAGR of 20.1% throughout the forecast period. Healthcare centers/ hospitals are the major end-users for this market contributing to 44% of the overall market in 2015. Factors such as rise in venipuncture procedures, high incidence of venous leg ulcers and conducive reimbursement scenarios are the major drivers for this market. 

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The overall market is also analyzed based on various geographic regions which include Americas, Europe, APAC and RoW. Americas is the major market contributing to nearly 58% of the overall market dominated by the U.S. Advancement in the healthcare sector combined with increased spending the healthcare industry is the major driver for this market in Americas. Americas is followed by Europe and APAC region which are growing with CAGR of 20.7% and 33.8% respectively throughout the forecast period.

Market Segmentation:

  • Vein Illumination device by various end-users include Healthcare centers, Nursing homes, Blood donation camps, Academic institutions and so on
  • Vein Illumination device applications are segregated on the basis of IV therapy, hemophilia, vein imaging and others
  • Vein Illumination device technology type includes Hyperspectral, RDAV, IR technology and others

The major companies profiled include:

  • TransLite LLC
  • AccuVein Inc.
  • Bard Access Systems Inc.
  • Christie Medical Holdings, Inc.
  • GE Healthcare
  • VenoscopeR LLC
  • Sharn Anesthesia

With price being a major factor in these regions, trans-illumination is slowly becoming the preferred alternative compared to infrared in U.S and European markets. Companies have focused on improving spectral filtering capabilities of this technology in order to enhance the spectral resolution. This improved spectral resolution will drive the application in vein illumination.

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