According to the current analysis of Reports and Data, the global Infrared Vein Finder Market was valued at USD 116.3 Million in 2020 and is expected to reach USD 944.8 Million by the year 2028, at a CAGR of 31.7 percent. Infrared Vein Finder is a handheld device which helps professionals to find a superficial vein for venipuncture. Innovative and advanced technologies improved healthcare infrastructure and the presence of a large number of vein illuminating manufacturing companies.
The many different vein-finding tools available today are a testament to how difficult this technique is. Despite their availability, people continue to experience many needle sticks and spend significant time and money due to widespread ignorance. Improved product promotion might be able to solve this problem. On a daily basis, clinicians have challenges finding peripheral veins. Often, they begin by applying the fundamental, straightforward tactics of milking, slapping, and tourniquet. Recurring failures can be used to identify patients who require additional assistance before being cannulated. Every approach now in use, without exception, will improve the likelihood of finding veins, especially in challenging situations.Adoption of these advanced technologies may lead to improved medical treatment, as well as prevent clinical complications such as hematomas. All methods save critical time and improve both medical staff and patient satisfaction. The mobile devices offer solutions to overcome obstacles, drive down costs, redesign care-paths and processes, augment the level of patient safety and significantly improve the quality of care in diverse care settings, including hospital wards, emergency rooms, field hospitals, the military and homes. It could also be very useful and effective for patients that inject their medicine straight into the veins themselves (such as hemophiliacs).
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Further key findings from the report suggest
- AccuVein Inc. is one of the global leaders in medical imaging solutions. The company’s vein viewing system was the world’s first handheld, non-contact vein illumination solution
- North America is predicted to hold the largest share of the Infrared Vein Finder access market because of the growing population and high rate of technology adoption
- Infrared Vein Finder device is used for locating veins in dark-skinned patients, obese patients, whose veins are not visible or palpable, patients suffering from burn injuries, agitated patients, thus it can be used for a wide variety of patients to pricking unnecessary needle sticks to the patient.
- Various complications such as hematoma, infections, nerve damage, extravasations, excessive bleeding, edema, thrombosis, and allergies may arise as a result of venipuncture complications which demands the Infrared Vein Finder device.
- Europe is expected to gain a significant market share by 2026 as the hospitals End User are going to drive market growth
- Academic institutions are expected to grow at the second-highest CAGR during the forecast period. The increased research and practical application in these institutions drive the demand for Infrared Vein Finder devices in this industry
- Infrared illumination is expected to grow at the highest CAGR, because of the accuracy of operation, ease of handling, and cost-effectiveness. NIR is expected to be preferred over transillumination and other technologies in the near future due to better usage of technology
Competitive Outlook of the Global Infrared Vein Finder Market
The globla Infrared Vein Finder market study focuses on the revenue growth trajectories of the leading companies in this market. This section of the report throws light on the highly competitive landscape of the Infrared Vein Finder market, pointing out the major players. The report further discusses the strategic initiatives undertaken by each of these market players, including mergers acquisitions, collaborations, joint ventures, new product launches, new business deals, and technological innovations.
Top Companies Profiled in the Report:
Venoscope, LLC, Christie Medical Holdings, Inc., Inc., Translite, LLC, Vuetek Scientific, LLC, ZD Medical, Inc., Infrared Imaging Systems, Accuvein, Inc., Cambridge Medical (Asia) Private Ltd.
Infrared Vein Finder Market Segmentation:
Technology (Revenue, USD Million; 2018–2028)
- Infrared Illumination (NIR)
Applications (Revenue, USD Million; 2018–2028)
- IV Access
- Blood draw
End use (Revenue, USD Million; 2018–2028)
- Rehabilitation Centers
- Blood Donation Camps
- Academic Institutions
Geographic Segment Covered in the Report:
The Infrared Vein Finder report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.
- North America (USA and Canada)
- Europe (UK, Germany, France and the rest of Europe)
- Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
- Latin America (Brazil, Mexico, and the rest of Latin America)
- Middle East and Africa (GCC and rest of the Middle East and Africa)
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