According to a new report Global Vein Illuminator Market, published by KBV research, The Global Vein Illuminator Market size is expected to reach $538.3 Million by 2026, rising at a market growth of 31.2% CAGR during the forecast period.
During the forecast period, the segment of infrared illumination technology is expected to experience the high growth rate mainly due to its ability to infiltrate deeply located tissues, which allows deep-seated blood vessels to be seen. The venous blood absorbs the infrared radiation, and accurately projected the image of the underlying vein. The use of near-infrared illumination is easy and cost-effective so in emergencies, it is widely preferred. The transillumination segment is also expected to rise at a significant growth rate. For visualization, transillumination systems use cold light sources by putting a light source in contact with the skin and aiming it toward it.
The hospital segment is expected to dominate the overall market during the projected period in terms of both revenue and growth rate. The high usage rate of vein illuminator for diagnosis and care of patients in hospitals is a major factor contributing to the large share of the market. The Blood Donation Camps market is expected to witness a CAGR of 30.9% during (2020 - 2026).
North America held the largest share of revenue on the vein illuminator market due largely to increasing demand for technologically advanced medical devices in hospitals and outpatient treatment facilities. Europe held a significant market share in 2019 and is expected to rise at a moderate rate over the projected period. Market-players are constantly designing and innovating products to receive CE Mark for their goods and extend their presence across all European countries.
Asia Pacific region is projected to witness the highest growth rate during the forecast period due to increased spending on health care and the introduction of new technologies such as vein illuminators in countries such as China and India. In addition, the global market players are also establishing a distribution agreement to expand the reach of vein illuminators in the APAC region.
Structural Insights: https://www.kbvresearch.com/vein-illuminator-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of AccuVein, Inc., Christie Medical Holdings, Inc. (Canadian Hospital Specialties Ltd.), TransLite, LLC, VueTek Scientific, LLC, ZD Medical, Inc., BK Medical Holding Company, Inc., Near Infrared Imaging, Inc., Sharn Anesthesia, Inc., Venoscope, LLC, and Cambridge Medical Group.
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