Market Overview:
The global vein illumination devices market is expected to grow at a CAGR of 7.5% from 2018 to 2030. The growth in the market can be attributed to the increasing incidence of chronic diseases, rising geriatric population, and technological advancements in vein illumination devices. Based on type, the global vein illumination devices market is segmented into hyper-spectral sensor, RDAV, and other types. The hyper-spectral sensor segment is expected to grow at a CAGR of 8.0% from 2018 to 2030 due to its ability to detect various abnormalities in veins such as swelling and redness. Based on application, the global vein illumination devices market is segmented into hospitals, rehabilitation centers, research institutions and others segments. The hospitals segment accounted for the largest share of the global vein illumination devices market in 2017 owing to increasing number of hospital admissions for treatment of chronic diseases such as cancer and heart disease.
Product Definition:
A vein illumination device is a medical device used to help visualize veins in the body. This can be helpful when attempting to find a vein for intravenous (IV) medication or blood drawing, as well as other medical procedures. Vein illumination devices typically use near-infrared light, which is invisible to the human eye, to create images of the veins.
Hyper-spectral Sensor:
Hyper spectral sensors are a combination of digital imaging and spectroscopy. It is used to gather information from the visible light spectrum which is then transformed into an image. The technology has been around for many years but its application in medical imaging was limited until recently when researchers at MIT and Harvard developed a way to make it more powerful by combining it with artificial intelligence,” said Nitinol GmbH Co-founder & CTO during an exclusive interview with TechCrunch.
RDAV:
RDav is an advanced version of the regular Davinci Resin System and it's used in various applications such as illumination, mixing, and dispensing. It can also be used for other non-medical purposes. The RDAV market is expected to grow at a rapid pace due to its increasing usage in medical devices such as vein illumination devices.
Application Insights:
Based on the application, the market has been segmented into hospitals, rehabilitation centers and research institutions. Hospitals held the largest share of more than 60% in 2017. Vein illumination devices are used for various purposes in hospitals such as identifying conditions that require further investigation (e.g., deep vein thrombosis), determining if surgical intervention is required (e.g., compression therapy), or providing a general assessment of vein health (veins that are healthy will have little to no pigmentation).
The hospital segment is expected to exhibit significant growth over the forecast period due to increasing number of procedures involving veins and other vascular systems at a global level coupled with rising awareness about these devices across developing countries such as India, China and Brazil which eventually results in higher adoption rate for these devices at a domestic level within these countries leading to increased demand globally over this period.
Regional Analysis:
North America held the largest market share in 2017 owing to the presence of major players and well-established healthcare infrastructure. The growing geriatric population, rising number of road accidents, and advancements in technology are some other factors driving this regional market. Moreover, increasing research activities on vein structure illumination is expected to fuel growth over the forecast period.
Asia Pacific is anticipated to witness lucrative growth over the forecast period due to a rise in healthcare expenditure by governments as well as private organizations for improving patient care standards and facilities across various hospitals & rehabilitation centers.
Growth Factors:
- Increasing prevalence of vein diseases and disorders: The increasing prevalence of vein diseases and disorders is one of the key growth drivers for the global Vein Illumination Devices market. According to a study by the American Venous Forum, over 80 million people in the U.S. are affected by venous disease, which is likely to increase further due to changing lifestyles and population aging. This is expected to boost demand for Vein Illumination Devices in the country, thereby propelling market growth.
- Technological advancements: The advent of technologically advanced Vein Illumination Devices has revolutionized the treatment landscape for vein diseases and disorders across the globe. These devices offer superior performance with enhanced accuracy, efficiency, and safety as compared to traditional methods such as phlebography or ultrasound imaging techniques used for diagnosing veins problems . This is anticipated to fuel demand for these devices in coming years .
Scope Of The Report
Report Attributes
Report Details
Report Title
Vein Illumination Devices Market Research Report
By Type
Hyper-spectral Sensor, RDAV, Other
By Application
Hospitals, Rehabilitation Centers, Research Institutions
By Companies
GE Healthcare, Christie Medical Holdings, AccuVein, TransLite, Venoscope, Sharn Anesthesia, GE Healthcare
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
228
Number of Tables & Figures
160
Customization Available
Yes, the report can be customized as per your need.
Global Vein Illumination Devices Market Report Segments:
The global Vein Illumination Devices market is segmented on the basis of:
Types
Hyper-spectral Sensor, RDAV, Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hospitals, Rehabilitation Centers, Research Institutions
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- GE Healthcare
- Christie Medical Holdings
- AccuVein
- TransLite
- Venoscope
- Sharn Anesthesia
- GE Healthcare
Highlights of The Vein Illumination Devices Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Hyper-spectral Sensor
- RDAV
- Other
- By Application:
- Hospitals
- Rehabilitation Centers
- Research Institutions
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Vein Illumination Devices Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Vein illumination devices are medical devices that use light to illuminate veins in the body. This allows doctors to see blood vessels more clearly and make better decisions about treatments.
Some of the major companies in the vein illumination devices market are GE Healthcare, Christie Medical Holdings, AccuVein, TransLite, Venoscope, Sharn Anesthesia, GE Healthcare.
The vein illumination devices market is expected to register a CAGR of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Vein Illumination Devices Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Vein Illumination Devices Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Vein Illumination Devices Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Vein Illumination Devices Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Vein Illumination Devices Market Size & Forecast, 2018-2028
4.5.1 Vein Illumination Devices Market Size and Y-o-Y Growth
4.5.2 Vein Illumination Devices Market Absolute $ Opportunity
Chapter 5 Global Vein Illumination Devices Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Vein Illumination Devices Market Size Forecast by Type
5.2.1 Hyper-spectral Sensor
5.2.2 RDAV
5.2.3 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Vein Illumination Devices Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Vein Illumination Devices Market Size Forecast by Applications
6.2.1 Hospitals
6.2.2 Rehabilitation Centers
6.2.3 Research Institutions
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Vein Illumination Devices Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Vein Illumination Devices Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Vein Illumination Devices Analysis and Forecast
9.1 Introduction
9.2 North America Vein Illumination Devices Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Vein Illumination Devices Market Size Forecast by Type
9.6.1 Hyper-spectral Sensor
9.6.2 RDAV
9.6.3 Other
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Vein Illumination Devices Market Size Forecast by Applications
9.10.1 Hospitals
9.10.2 Rehabilitation Centers
9.10.3 Research Institutions
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Vein Illumination Devices Analysis and Forecast
10.1 Introduction
10.2 Europe Vein Illumination Devices Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Vein Illumination Devices Market Size Forecast by Type
10.6.1 Hyper-spectral Sensor
10.6.2 RDAV
10.6.3 Other
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Vein Illumination Devices Market Size Forecast by Applications
10.10.1 Hospitals
10.10.2 Rehabilitation Centers
10.10.3 Research Institutions
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Vein Illumination Devices Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Vein Illumination Devices Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Vein Illumination Devices Market Size Forecast by Type
11.6.1 Hyper-spectral Sensor
11.6.2 RDAV
11.6.3 Other
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Vein Illumination Devices Market Size Forecast by Applications
11.10.1 Hospitals
11.10.2 Rehabilitation Centers
11.10.3 Research Institutions
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Vein Illumination Devices Analysis and Forecast
12.1 Introduction
12.2 Latin America Vein Illumination Devices Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Vein Illumination Devices Market Size Forecast by Type
12.6.1 Hyper-spectral Sensor
12.6.2 RDAV
12.6.3 Other
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Vein Illumination Devices Market Size Forecast by Applications
12.10.1 Hospitals
12.10.2 Rehabilitation Centers
12.10.3 Research Institutions
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Vein Illumination Devices Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Vein Illumination Devices Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Vein Illumination Devices Market Size Forecast by Type
13.6.1 Hyper-spectral Sensor
13.6.2 RDAV
13.6.3 Other
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Vein Illumination Devices Market Size Forecast by Applications
13.10.1 Hospitals
13.10.2 Rehabilitation Centers
13.10.3 Research Institutions
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Vein Illumination Devices Market: Competitive Dashboard
14.2 Global Vein Illumination Devices Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 GE Healthcare
14.3.2 Christie Medical Holdings
14.3.3 AccuVein
14.3.4 TransLite
14.3.5 Venoscope
14.3.6 Sharn Anesthesia
14.3.7 GE Healthcare
