The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s vein illuminator market report forecasts the vein illuminator market size to grow to $53.27 Billion by 2027, with a CAGR (compound annual growth rate) of 22%.

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Vein Illuminator Market Size Forecast
The global vein illuminator market is expected to grow from $19.74 billion in 2022 to $24.05 billion in 2023 at a compound annual growth rate (CAGR) of 21.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global vein illuminator market size is expected to reach $53.27 billion in 2027 at a CAGR of 22.0%.

North America held the largest vein illuminator market share.

Key Vein Illuminator Market Driver ­– Increase In The Incidence Of Vein Diseases
According to the National Library of Medicine, a US-based biomedical library and centre of biomedical informatics and computational biology, roughly $500 million will be spent on the care of 150k chronic venous insufficiency patients in August 2022. Furthermore, a venous stasis ulcer develops in about 1% to 2.7% of patients with chronic venous insufficiency. More than 20,000 new cases of venous ulcers are diagnosed in patients each year. As a result, the growing prevalence of vein illnesses propels the vein illuminator market.

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Key Vein Illuminator Market Trend – Technological Advancement
Major market players are focusing on research and development for new developments that will provide extra benefits to clients. Such product advancements allow businesses to acquire a competitive advantage in the market. For example, ImmunoTek Bio Centres, a biotech firm based in the United States, will launch VeinViewer® technology in its two divisions, ImmunoTek Plasma and Freedom Plasma, in April 2022. It allows for a clear view of a donor’s veins before the needle is inserted, which aids in the withdrawal of blood, which is then separated into distinct components during a process known as plasmapheresis.

Vein Illuminator Market Segment
1) By Technology: Near-Infrared Illumination, Transillumination, Ultrasound Technologies
2) By Application: Intravenous Access, Blood Draw, Other Applications
3) By End User: Hospitals, Rehabilitation Centers, Blood Donation Camps, Academic Institutions

Vein Illuminator Market Major Players and Strategies
Major players in the vein illuminator market are AccuVein Inc., CAREstream Group, Sharn Anesthesia Inc., Infrared Imaging LLC, Near Infrared Imaging, Translite LLC., Venoscope LLC, VueTek Scientific LLC., ZD Medical, Cambridge Medical (Asia) Private Limited, Aimvein Ltd., BK Medical, Shenzhen Bestman Instrument Co. Ltd., BLZ Medical, RB Healthcare LLC, and Vivolight.

Philips, a Netherlands-based multinational conglomerate firm, acquired Vesper Medical Inc. for an undisclosed sum in December 2021. Philips expands its image-guided therapeutic equipment portfolio with this acquisition. Vesper Medical Inc. is a vein illuminator manufacturer situated in the United States.

The Vein Illuminator Global Market Report 2023 covers regional data on vein illuminator market size, vein illuminator market trends and drivers, opportunities, strategies, and vein illuminator market competitor analysis. The countries covered in the vein illuminator market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

A vein illuminator, also known as a vein visualisation device, employs near-infrared (NIR) imaging to find and map subcutaneous veins and improve healthcare workers’ ability to visualise veins. These employ a number of strategies for vein visualisation.

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