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(Medical-NewsWire.com, December 19, 2018 ) According to a new market research report "Vein Illuminator Market by Technology (Transillumination, Infrared Technology and Ultrasound), by End-Users (Hospitals, Rehabilitation Centers, Blood Donation Camps and Academic Institutions) - Global forecast to 2022" , the total market is expected to reach USD 227.2 Million by 2022, at a CAGR of 32.41% between 2016 and 2022. The major drivers for the growth of the vein illuminator market are the growing aging population worldwide and desire for increasing patient satisfaction level.
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Hospitals to drive the growth of the vein illuminator market
Vein illuminator devices have a number of applications in end users such as hospitals, rehabilitation centers, academic institutions, blood donation camps, and others. Hospitals are expected to hold the largest share of the vein illuminator market because of the various applications of blood draw and IV access that demand success in the first attempt of pricking to reduce patient discomfort and ensure greater patient satisfaction level. The vein illuminator market for hospitals is expected to grow at the highest CAGR between 2016 and 2022.
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North America to hold the largest share of the market
This report covers the vein illuminator market based on four geographic regions, namely, North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is expected to hold the largest market share during the forecast period because of the increasing aging population and pediatric applications. According to the U.S. Census Bureau projection, the population of Americans over the age of 65 is expected to increase by 36% till 2020. This is the segment of the population with the greatest medical needs, including vascular access. As these numbers increase, so does the demand for physician services, which drives the growth of the vein illuminator market.
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The major vendors in the vein illuminator market include AccuVein Inc. (U.S.), Christie Medical Holdings, Inc. (U.S.), TransLite LLC. (U.S.), Venoscope LLC. (U.S.), Sharn Anesthesia (U.S.), VueTek Scientific (U.S.), InfraRed Imaging Systems (U.S.), ZD Medical Inc. (U.S.), Cambridge Medical (Asia) Private Limited(Singapore), and Near Infrared Imaging Inc. (U.S.).
The scope of the report covers detailed information regarding the major factors influencing the growth of the vein illuminator market such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key players has been done to provide insights into their business overview, products & services, key strategies, new product launches, agreements, and recent developments associated with the vein illuminator market.
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