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Vein Illuminator Market Size, Share, Growth, Trends, Analysis, Forecast To 2033
Vein Illuminator Market Size
As per the report, the vein illuminator market size has grown exponentially in recent years. It will grow from $24.07 billion in 2023 to $29.51 billion in 2024 at a compound annual growth rate (CAGR) of 22.6%. The vein illuminator market size is expected to see exponential growth in the next few years. It will grow to $68.34 billion in 2028 at a compound annual growth rate (CAGR) of 23.4%.
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Rising Incidence Of Vein Diseases Drives Growth In The Vein Illuminator Market
The increasing incidence of vein diseases is expected to propel the growth of the vein illuminator market going forward. A vein disease is a common vascular disorder called vein disease that causes the veins to build up a lot of pressure affected by varicose veins. Blood vessel injury, caused by trauma, intravenous catheters or needles, chemotherapeutic agents, infectious organisms, pregnancy, and varicose veins are associated with a higher risk of superficial thrombophlebitis and causes vein disease, vein illuminators are required for healthcare providers to increase the ability of diagonalization of the disease. For instance, in August 2022 according to the National Library of Medicine, a US-based biomedical library and the center of biomedical informatics and computational biology, nearly $500 million is spent on the care of 150k patients suffering from chronic venous insufficiency every year. Further, approximately 1% to 2.7% of patients with chronic venous insufficiency would develop a venous stasis ulcer. Each year, more than 20,000 new cases of venous ulcers are identified in patients. Therefore, the increasing incidence of vein diseases drives the vein illuminator market.
Technological Advancements Driving Innovation In Vein Illuminator Market
Technological advancement is a key trend that is gaining popularity in the vein illuminator market. Major companies operating in the market are focused on research and development for product innovations to offer additional benefits for the customers. Such product innovations enable companies to gain a competitive edge in the market. For instance, in April 2022, ImmunoTek Bio Centers, a US-based biotech company launched VeinViewer® technology in its two divisions - ImmunoTek Plasma and Freedom Plasma. It provides a clear look at a donor's veins before the needle is inserted which helps to withdraw blood that is then divided into separate parts during a process called plasmapheresis.
The vein illuminator market covered in this report is segmented -
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
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Major companies operating in the vein illuminator market report are AccuVein Inc, CAREstream Group Inc, Sharn Anesthesia Inc, Infrared Imaging LLC, Near Infrared Imaging Inc, Translite LLC, Venoscope LLC, VueTek Scientific LLC, ZD Medical Inc, Cambridge Medical (Asia) Private Limited, Aimvein Ltd, BK Medical ApS, Shenzhen Bestman Instrument Co, BLZ Medical SAS, RB Healthcare LLC, Vivolight LLC, Christie Medical Holdings Inc, Clear Guide Medical LLC, DRE Medical Inc, Evena Medical Inc, InfraRed Imaging Systems Inc, Luminous Medical Inc, Medline Industries Inc, Medtronic plc, Novarix Inc, Optics Medical LLC, RB Healthcare LLC, Soma Technology Inc, Spectral Medical Inc, Techno Medica Co .
Contents of the report:
1. Executive Summary
2. Vein Illuminator Market Report Structure
3. Vein Illuminator Market Trends And Strategies
4. Vein Illuminator Market - Macro Economic Scenario
5. Vein Illuminator Market Size And Growth
…..
27. Vein Illuminator Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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