The global vein illuminator market size is expected to reach USD 793.8 million by 2027, registering revenue based CAGR of 30.6% over the forecast period, according to a new report by Grand View Research, Inc. Growing demand for easy visualization of inaccessible veins in neonates, elderly, dark skinned, and obese patients is expected to aid the market growth. Moreover, growing need for intravenous drugs for the treatment of various disorders is anticipated to further propel the product demand.
As per the American Civil Liberties Union, 350,000 people in U.S. regularly use injectable drugs. The process requires proper knowledge regarding IV drugs in order to avoid infections that are caused due to injection drug use. Therefore, growing adoption of IV drugs for various purposes is expected to boost the adoption of vein illuminators for avoiding infections and enhancing proper treatment.
Growing demand for painless insertion in drawing blood or intravenous access is also expected to drive the market growth. These devices are mainly advantageous for the application in children and adults, as it reduces the risks of multiple needle pricks done to infants and old age patients. Illumination technology eases the job of clinicians by creating a road map of the main vein.
Rising prevalence of chronic diseases worldwide is increasing the demand for diagnosis and treatment, which in turn is expected to drive the market growth. According to recent studies, it is estimated that around 500 million venipuncture procedures are performed every year. Usage of vein illuminator increases the success rate of venipuncture and hence enhances the diagnosis and treatment.
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Grand View Research has segmented the global vein illuminator market based on technology, application, end use, and region:
Vein Illuminator Technology Outlook (Volume, Units; Revenue, USD Million, 2016 - 2027)
Vein Illuminator Application Outlook (Revenue, USD Million, 2016 - 2027)
Vein Illuminator End-Use Outlook (Revenue, USD Million, 2016 - 2027)
Vein Illuminator Regional Outlook (Volume, Units; Revenue, USD Million, 2016 - 2027)
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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