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What are the Key Projections for the CAGR of the Vein Illumination Devices Market From 2025 to 2034?

The market size for vein illumination devices has seen a rapid surge in recent times. It is predicted to escalate from $0.55 billion in 2024 to $0.62 billion in 2025, marking a compound annual growth rate (CAGR) at 13.0%. The significant growth in the past can be traced back to the increasing utilization of these devices during the pandemic for easy venous access in COVID-19 patients, growing consciousness amongst healthcare professionals towards the advantages of vein illumination devices, rising investments in healthcare, efforts towards educating patients and the surge in intravenous drug administration, both in the medical field and illegal circumstances.

The market for vein illumination devices is projected to witness significant growth in the coming years. It is anticipated to reach a valuation of $1 billion by 2029, with a compound annual growth rate of 12.6%. Contributing factors to this growth during the forecast period include escalated investment in healthcare infrastructure, enhanced skills and proficiency of medical staff due to these devices’ accessibility, cost-effectiveness, burgeoning demand for venipuncture support, and more frequent use in remote and home-based healthcare services for individuals requiring consistent venous access. Key trends for the forecast period are the miniaturization and wearable devices, inclusion of wireless connectivity features, evolution of augmented reality (AR) solutions, hybrid imaging technologies, and holographic projection technology.

What Key Drivers Are Accelerating the Growth of the Vein Illumination Devices Market During the Forecast Period?

The vein illumination devices market’s growth is expected to be fuelled by the rising occurrence of venous disorders such as deep vein thrombosis and varicose veins. Such disorders hinder blood circulation in veins, leading to symptoms like swelling, pain and skin changes. Aging could weaken vein valves, reducing blood flow and causing venous disorders. Moreover, hormonal changes associated with menopause or usage of certain medications, like birth control pills, could impact vein function. Vein illumination devices are crucial in managing these disorders as they bolster vein visibility, making procedures like intravenous access, blood draws, and sclerotherapy safer and more accurate. This cuts down on complications and boosts patient outcomes. For example, the UK’s independent health charity, the Nuffield Trust, reported a notable 21% surge in Venous Thromboembolism (VTE) cases from 9,030 to 10,884 between 2019-20 and 2020-21. Consequently, the rising occurrence of venous disorders like deep vein thrombosis and varicose veins stimulates the vein illumination devices market. The swelling demand for minimally invasive procedures is another factor projected to spur the vein illumination devices market’s expansion. Such procedures make use of small incisions or entry points, leading to less tissue damage and quicker recovery periods compared to conventional surgical methods. Patients are increasingly choosing these techniques for diagnosis and treatment of vein-related conditions as they improve patient comfort, reduce the risk of complications, and have shorter recovery periods. By visualizing veins distinctly, vein illumination devices improve the precision and safety of needle insertions during minimally invasive procedures. This reduces complications, enhances patient comfort, and boosts the success rate of venipuncture and catheter placements. For example, as per the American Academy of Facial Plastic and Reconstructive Surgery, precisely 83% of medical procedures carried out in 2023 were minimally invasive while the remaining 17% were traditional surgical methods. Therefore, the growing demand for minimally invasive procedures propels the vein illumination devices market.

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What Are the Key Industry Players Leading the Charge in the Vein Illumination Devices Market’s Growth?

Major companies operating in the vein illumination devices market are:

• Siemens Healthineers

• Koninklijke Philips N.V.

• Baxter International Inc.

• Olympus Corporation

• B. Braun Medical Inc.

How Are Market Trends and Shifts Impacting the Growth Trajectory of the Vein Illumination Devices Market?

Leading businesses in the vein illumination devices market are innovating with near-infrared vascular imaging technology to significantly boost the precision and effectiveness of medical procedures. The advancement of this imaging technology allows for non-invasive, high-resolution viewing of blood vessels, which in turn enhances diagnostic precision and the planning of treatments. For example, in April 2022, Christie Medical Holdings, a company based in the US that specializes in medical devices, introduced VeinViewer. VeinViewer is a sophisticated near-infrared imaging tool that displays live, high-definition images of veins onto the patient’s skin, thus improving the precision and efficacy of medical procedures. It can highlight veins up to 10 millimeters deep and is utilized in plasma donation centers to enhance the experience for donors and the success rate of procedures.

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Which Key Segments of the Vein Illumination Devices Market Are Poised for Growth and Innovation?

The vein illumination devices market covered in this report is segmented –

1) By Product Type: Table-Top Devices, Hand-Held Devices

2) By Technology: Transillumination, Near Infrared Illumination, Ultrasound Technologies

3) By Application: Intravenous Access, Blood Draw, Venipuncture Assistance, Sclerotherapy, Other Applications

4) By End-User: Hospitals And Clinics, Rehabilitation Facilities, Blood Donation Camps, Academic Institutions, Nursing Homes, Other End-Users

Subsegments:

1) By Table-Top Devices: Desktop Or Stationary Vein Illuminators, Wall-Mounted Vein Illumination Systems

2) By Hand-Held Devices: Portable Vein Illuminators, Mobile Or Compact Vein Detection Devices

What Regions Are Influencing the Dynamics of the Vein Illumination Devices Market?

North America was the largest region in the vein illumination devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the vein illumination devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

How Is the Definition of the Vein Illumination Devices Market Impacting Future Growth?

A vein illumination device, also known as a vein finder or vein locator, is a medical tool designed to help healthcare professionals visualize veins beneath the skin. It uses various technologies such as near-infrared (NIR) light, transillumination, and ultrasound to enhance the visibility of veins, making it easier to locate them for procedures like venipuncture, intravenous (IV) access, and blood draws. The primary purpose of vein illumination devices is to improve the accuracy and efficiency of vein access procedures.

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