The global vein finder market is expected to experience steady growth over the next decade, with its value projected to rise from US$ 37.6 million in 2024 to US$ 52.4 million by 2034. This represents a compound annual growth rate (CAGR) of 3.4% during the forecast period. The market’s growth is driven by increasing demand for advanced healthcare tools that enhance the precision and efficiency of vein detection, especially in challenging clinical scenarios.
In 2023, the vein finder industry was valued at US$ 37.5 million, and it is anticipated to exhibit a year-on-year growth of 7.0% in 2024. The demand for vein finders is expected to grow at a steady pace, with total revenue likely expanding by 1.4 times through to 2034. These devices are essential in improving the accuracy of intravenous procedures, helping healthcare providers to reduce patient discomfort and enhance procedural success.
As the healthcare industry continues to focus on patient comfort and care quality, vein finders are becoming integral to medical practices, particularly in areas like intravenous therapy, blood sampling, and emergency care. The global demand for these devices is also supported by technological advancements in imaging and sensor technologies, which further enhance the efficacy and ease of use.
A Full Report Overview – https://www.futuremarketinsights.com/reports/vein-finder-market
Key Highlights:
- The vein finder market is projected to grow from US$ 37.6 million in 2024 to US$ 52.4 million by 2034, registering a CAGR of 3.4%.
- The market was valued at US$ 37.5 million in 2023 and is expected to exhibit a 7.0% y-o-y growth in 2024.
- Total revenue is expected to increase 1.4x through 2034.
- Technological advancements and the increasing focus on patient comfort and procedural efficiency are driving the market’s growth.
As the vein finder market continues to expand, it will play a vital role in enhancing healthcare practices, contributing to more accurate, less invasive procedures, and better patient outcomes globally.
Key Drivers of Growth
- Increasing Demand for Venipuncture: The rising number of medical procedures requiring vein access, such as blood draws and intravenous therapy, is significantly driving demand for vein finders.
- Technological Advancements: Innovations in vein finder technology, particularly portable devices, are enhancing the accuracy and efficiency of venipuncture procedures.
- Aging Population: An increasing geriatric population with health challenges is contributing to the demand for effective vein visualization solutions.
Competitive Landscape
Leading manufacturers of vein finders are constantly developing innovative products to meet the evolving end user requirements. They are focusing on enhancing vein visualization through advancements in near-infrared (NIR) and exploring novel techniques like electrical impedance or ultrasound.
For instance, players like Christie Medical Holdings, Shenzhen Bestman Instrument, and AccuVein are developing new vein finders that use improved visualization technologies. Similarly, companies are employing strategies like partnerships, mergers, acquisitions, distribution agreements, and collaborations to gain a competitive edge in the market.
Recent Developments in the Vein Finder Market
- In June 2023, Merz Aesthetics, the leading medical aesthetics business globally, and AccuVein entered an exclusive partnership. This collaboration grants Merz Aesthetics exclusive rights as the sole authorized distributor of AccuVein’s vein visualization system in the aesthetics market of the United States.
- In 2023, Christie Medical Holdings, Inc. partnered with DO-PA A.S. for Turkish distribution of Christie’s United States-made VeinViewer Vision2 and VeinViewer® Flex. DO-PA A.S. is one of the oldest medical distribution companies in Türkiye.
Key Players in the Vein Finder Market
- AccuVein Inc.
- Christie Medical Holdings, Inc.
- Near Infrared Imaging LLC
- Shenzhen Bestman Instrument Co., Ltd.
- Gentherm Inc.
- Sunny Medical Equipment Limited
- Translite LLC / Veinlite
- Venoscope LLC
- ZD Medical
- Infinium Medical
- NextVein
- International Biomedical
- Shenzhen Vivolight Medical Device & Technology Co., Ltd.
- BLZ Technology Inc.
- iiSM Inc.
Global Vein Finder Market Segmentation
By Product Type:
- Portable
- Benchtop
By Technology:
- Infrared
- Ultrasound
- Transillumination
By End-user:
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Diagnostic Centers and Path Labs
- Blood Banks
By Region:
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Western Europe
- Eastern Europe
- Middle East & Africa
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube