Vein Finders Market by Type, Application and Forecast to 2027 – TMR

Global Vein Finders Market – Overview

On a stellar growth trajectory, from 2019 to 2027, the global vein finder market is set to witness massive demand over the forecast period. Having a prominent place in the healthcare industry as an essential tool in venipuncture procedures, the vein finders will see demand arising for a number of factors such as a rapidly ageing population and increase in obesity. To understand the degree to which these factors would contribute to this growth in the market over the forecast period, it is significant to detail out the following factors.

One in every six people in the world will be aged 65 and above by 2050. 2 billion people will fall in the age group of 62 and above. World over, some regions will see a more pronounced situation than others. For instance, North America and Europe will have a higher percentage of older people. In Europe, countries such as Spain and Italy will be one of the foremost countries having a humoungous geriatric population.
This demographic is susceptible to injuries and diseases and often requires blood and other related pathological testing. In the year 2018, for the first time number of people in the age bracket stated at the beginning – 65 and above – crossed the number of people aged below 6.
Access in people of color and obese people is often a challenge. It is pertinent to note here that obese people often suffer from a number of ailments that require testing and this contributes immensely to the growth of global vein finders market over the forecast period. It is pertinent to note here that since 1975, obesity has tripled.

Request Sample Of Report - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=66560

Global Vein Finders Market - Snapshot

Vein finders are essential tools used by health care professionals during venipuncture procedures that enable detection of invisible veins without causing patient discomfort. These are advanced devices used to detect veins under the skin to draw blood and IV access in various patient groups including geriatric, obese, and people of color where it is difficult to find veins. Increase in the geriatric population suffering from chronic diseases leading to high hospitalization admissions is projected to boost demand for vein finders in the next few years. The global vein finders market was valued at US$ 150.9 Mn in 2018 and is anticipated to expand at a CAGR of 17.0% from 2019 to 2027.

The global vein finders market has been segmented based on type, application, end-user, and region. In terms of type, the global market has been classified into active vein finders and passive vein finders. The active vein finders segment held major share of the market in 2018. The segment is expected to expand at a high CAGR during the forecast period, owing to increase in adoption of active vein finders in hospitals and nursing homes for venipuncture procedures and IV access. Based on application, the global vein finders market has been categorized into blood draw/venipuncture, IV access, and others. The blood draw/venipuncture segment accounted for significant share of the global market in 2018. Rise in venipuncture procedures across the globe is likely to boost demand for vein detection devices. In terms of end-user, the global market has been segregated into hospitals & ambulatory surgical centers, specialized clinics, blood donation centers, and others. The hospitals & ambulatory surgical centers segment is projected to account for major share of the global market during the forecast period.

Expanding operations in future? To get the perfect launch ask for a custom report

In terms of region, the global vein finders market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for major share of the global market in 2018. Rise in cosmetic surgeries performed in the U.S., leading to increase in demand for vein finders, is a major factor boosting the market in the country. According to the International Society of Aesthetic Plastic Surgery (ISAPS), 1.9 million injectable cosmetic procedures were performed in the U.S. in 2017, of which 0.7 million were hyaluronic acid dermal filler procedures, wherein vein finders were used to locate and avoid veins and minimize bruising in patients. The market in Europe is anticipated to expand at a high CAGR in the near future, owing to rise in prevalence of obesity, which makes vein identification difficult. The market in Asia Pacific is likely to expand at a high CAGR during the forecast period. Large geriatric patient pool and frequent blood tests performed in hospitals & diagnostic labs are projected to propel the market in Asia Pacific in the next few years.

Request the Coronavirus Impact Analysis across Industries and Markets- https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=66560

Key players operating in the global vein finders market include Christie Medical Holdings, Inc., AccuVein, Inc., TransLite, LLC, Near Infrared Imaging, Inc., Teleflex Incorporated (VueTek Scientific, LLC), Venoscope, Koninklijke Philips N.V., B. Braun Melsungen AG, VINO Optics, and Becton, Dickinson and Company. These companies have broad product portfolio of vein finders along with strong geographic presence across the globe.

More Trending Reports by Transparency Market Research – https://www.biospace.com/article/stroke-treatment-market-lucrative-opportunities-in-u-s-catalyze-market-growth/