Global Vein Finders market, which accrued nearly 175.20 (USD Million) in 2019, is set to record the CAGR of nearly 16.9% over the period from 2020 to 2026.
The global Vein Finders market, which accrued nearly 175.20 (USD Million) in 2019, is set to record the CAGR of nearly 16.9% over the period from 2020 to 2026. The report offers assessment and analysis of the Vein Finders market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, sales estimates, opportunities, evolving trends, and industry-validated data. The report offers historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Million).
Vein finders are the major tools that are utilized by medical service providers at the time of performing venipuncture and hence facilitate the detecting of invisible veins without causing any discomfort to the patients. Furthermore, these equipment are used for identifying veins that are beneath the skin. Hence these devices help in finding veins that are difficult to recognize, thereby offering assistance for drawing blood IV access in many of the group of patients that include obese individuals & aging population. Apparently, these products find a spectrum of applications in outpatient clinics, ambulatory surgical units, home care settings, and diagnostic laboratories.
Market Growth Dynamics
Surge in the aging populace affected from chronic ailments and resulting in rise in the cases of hospitalizations will prompt the expansion of vein finders industry over the estimated timespan. Additionally, flourishing fashion sector and emerging personal care & cosmetic industries will steer the growth of vein finders market over the projected timeframe. Nonetheless, the vein finders is user-friendly and helps in saving the time of physicians, patients, and medical or hospital staff. Furthermore, high consumer satisfaction achieved by hospitals and clinics using the products will boost the market trends.
In addition to this, the growing product penetration in the medical as well as healthcare sector across the globe can be attributed to the use of vein finders by doctors in locating veins. Moreover, the product provides comprehensive information pertaining to vascular access method and this will embellish the market expansion over the forecast timeline. Apparently, this has minimized the needle use for drawing of blood from the patient and thus help in alleviating the discomfort & pain caused to patient as a result of needle insertion. This will further boost the growth of the vein finders market over the estimated timeline.
North American Market To Establish Numero Uno Position By 2026
The market elevation in North American sub-continent over the forecast timespan is due to surge in the number of cosmetic surgeries in the countries such as the U.S. leading to huge demand for vein finders. For the record, nearly 1.8 million injectable cosmetic surgical procedures were carried out in the U.S. during 2017 and vein finders were used in these procedures for finding the veins to prevent the subjects from getting hurt.
Key players profiled in the report include Near Infrared Imaging, Inc., B. Braun Melsungen AG, AccuVein, Inc., Becton, Dickinson & Company, Koninklijke Philips N.V., TransLite, LLC, Christie Medical Holdings, Inc., Venoscope, Teleflex Incorporated, and VINO Optics.
The global vein finders market is segmented as follows:
Hospitals & Ambulatory Surgical Centers
Surge in the aging populace affected from chronic ailments and resulting in rise in the cases of hospitalizations will expedite the expansion of vein finders industry over the estimated timespan.
The CAGR of the industry is expected to be nearly over 16.9% during the forecast timeline.
North America will contribute remarkably towards the global market share over the estimated timeline.
The key market players include AccuVein, Inc., Koninklijke Philips N.V., Christie Medical Holdings, Inc., Near Infrared Imaging, Inc., TransLite, LLC, Venoscope, Teleflex Incorporated, B. Braun Melsungen AG, Becton, Dickinson & Company, and VINO Optics.