Vein Finders Market Scope
Vein finder is a type of device used for the visualization of veins for venepuncture and cannulation. It is an innovative device that helps healthcare professionals to find veins for intravenous insertion and blood draws. Vein finders create a real-time visual mapping of veins on the skin surface by using various technologies such as ultraviolet, infrared, and ultrasound. The Vein finder device is not only used for spotting veins in humans but also in animals as well. The reduced use of multiple needles to draw blood and subsequent reduction from pain and discomfort caused during IV insertion and blood draw. This has, in turn, helped hospitals to gain customer satisfaction is acting as the driving factor for the growth of the vein finder market.
According to AMA, the Global Vein Finders market is expected to see growth rate of 13.85%
The Global Vein finders market is fragmented with several market players who are indulged in new product development which is a key strategy adopted by players in the market to increase their brand value. Moreover, Rising difficulties associated with peripheral venous access and venepuncture is one of the primary factors boosting the growth of the vein finder market and key players are capitalizing on the growth drivers to increase their market share.
The Christie Group (United States), AccuVein Inc. (United States), Translite LLC (United States), ZD Medical (United States), Shenzen Vivolight (United States), Zhonglin (China), DOSIS M&M (United States), Rencongzhong (Korea), Rectus Energy (India) and Lotusun (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Easy-RN (United States), InfraRed Imaging Systems (United States), Sharn Anesthesia (United States) and Sylvan Corporation (United States).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
The study have segmented the market of Global Vein Finders market by Type (Non-Imaging Type Vein Finder, Portable Type Vein Finder, Fixed Type Vein Finder and Wearable Type Vein Finder), by Application (Blood Draw/Venipuncture, IV Access and Others) and Region with country level break-up.
On the basis of geography, the market of Vein Finders has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
In 2018, Vino Optics launched the Oxy-Iso Paramedic vein glasses, a pair of sunglasses to help physicians and phlebotomists easily locate veins through enhanced image display by filtering ultraviolet rays. This technology is supposedly beneficial for healthcare professionals suffering from colour blindness, as these vein finders help physicians locate veins by enhancing their ability to view reds and greens.
In 2019, VeinSight vein finder company adopts the latest vein visualization technology and the unique digital image processing system, it can accurately obtain the real-time two-dimensional image data of veins, which can aid healthcare professionals in finding a good vein for venipuncture and highly increase the patients satisfaction.
- Increasing Demand for Portable and handheld Vein Finders Embedded with Infrared Technology
- Rapid Technological Innovation in Vein Detection by Market Players such as mHealth used in Smartphones
- Increasing Prevalence of Obesity and Rapid Utilization of Vein Finders in Hospitals
- Rising Geriatric Patient Population with Chronic Disorders
- Growing Frequency of Cosmetic Procedures
- Rising Venipuncture Procedures
- Large Geriatric Patient Pool and Frequent Blood Tests Performed in Hospitals & Diagnostic Laboratory
- High Cost Factor Associated with the Device used for Vein Finder
- Discrepancy in Result of Vein Finders Equipment
Key Target AudienceVein Finder Manufacturers, Medical Device Equipment Manufacturers, Healthcare Industry, Marketing and Consulting Firms, Industry Associations, Potential Investors and Government and Regulatory Bodies