Vein Illumination Devices Market to Generate Revenue of $1.1 Billion by 2021.
Browse 07 Market Tables, 55 Figures spread through 123 Pages and an in-depth TOC on “Vein Illumination Devices Market”
Vein Illumination is a new concept of aiding medical processes that has gained prominence in the last decade owing to rise in different medical procedures such as blood transfusion, venipuncture and venous ulcer treatment. This device aids in detection and visualization of veins. The vein illumination devices market is consolidated in nature with the presence of few companies. The demand for these devices is going to witness substantial growth with the increase in venipuncture. This device is of high importance while treating geriatric population. The introduction of ‘Affordable Healthcare Act’ has provided significant boost to the industry in the U.S. as this act facilitated the incorporation of this device across the healthcare facilities. The reimbursement for hospitals and clinics will depend upon the patient safety and level of satisfaction.
According to a recent report published by IndustryARC, Vein Illumination Devices market is growing with CAGR of 20.1% throughout the forecast period (2016 – 2021) and is estimated to generate revenue of $1.1 billion by 2021. With the rise in venipuncture procedures, high incidence of venous leg ulcers and conducive reimbursement scenarios are the key factors which are driving this market. Whereas, high costs associated with vein illumination devices and presence of conventional practices is expected to limit the growth of this market.
According to the report the overall market has been segmented based on technology types, skin tone types, age of patients and by end-user market. In terms of technology, Infrared technology is estimated to grow with highest growth rate as it is able to provide clear and accurate representation. In 2015, Hospitals had the highest share of 44% for vein illumination devices market due to the high adoption rate for devices across major countries which include the U.S., U.K., Canada, Germany, and so on. The demand for these devices in clinics has increased in these countries because of the cost savings associated with the treatment. Americas contributed to nearly 58% of the overall revenue in 2015 followed by Europe and APAC. Americas is expected to remain as the dominant market throughout the forecast period. However, Europe and APAC region is estimated to grow with CAGR of 20.7% and 33.8% respectively. Accuvein emerged out to be the key player in Vein Illumination Devices market as the company has strong product line of Vein Illumination devices with presence across North America.
Key Players profiled in the report include:
- TransLite LLC
- AccuVein Inc.
- Bard Access Systems Inc.
- Christie Medical Holdings, Inc.
- GE Healthcare
- VenoscopeR LLC
- Sharn Anesthesia
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