Vein Finder Market is Likely to grow at 10.7% CAGR during the Period 2018-2028

Vein Finder Market is Likely to grow at 10.7% CAGR
during the Period 2018-2028
Healthcare, Pharmaceuticals & Medical Devices
November 2018
Report Id : REP-GB-7640
Status : Publish
Category : Healthcare, Pharmaceuticals & Medical Devices
©2015 Future Market Insights, All Rights Reserved
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Vein Finder Market Analysis
Leading Manufacturers Contribute 56% of the Revenue in the Vein Finder Market
The vein finder market is largely dominated by few major manufacturers who are competing on the basis
of advancement and pricing in the vein finder market. The fragmented nature of the vein finder
market decreases the profitability of the business. However, the introduction of the novel device by
manufacturers and the growing patient and healthcare professional satisfaction with the use of vein
finder, are factors expected to boost the growth of the vein finder market. Companies such as Accuvein,
Christie Medical Holdings, and OSANG Healthcare Co., Ltd. hold 56% of the revenue share in the global
vein finder market.
Excellence in Customer Satisfaction and Increasing Adoption of Vein Finder
Hospitals have achieved higher customer satisfaction after using a vein finder in their facility for IV
insertion and to draw blood. Vein finders help physicians and nurses to locate and access the vein easily
and provide valuable information for the vascular access procedure. A vein finder increases the chances
of drawing blood and inserting IV in the first attempt. This has reduced the use of multiple needles to
draw blood and subsequently the pain and discomfort caused during IV insertion and blood drawing. This
has, in turn, helped hospitals gain customer satisfaction and acts as the driving factor for the growth of
the vein finder market.
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Vein Finder Market Analysis
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Expansion in End Users and Applications of Vein Finder
Vein finders are very useful in hospitals, ambulatory surgical centers, clinics, diagnostic labs, and home
care settings. Additionally, a vein finder is also useful at veterinary clinics. The device is not only used for
spotting veins in humans, but also in animals as well. A vein finder allows simple needle insertion in the
veterinary setting, reducing the challenges faced during such operations and therefore allowing more
comfort to the animal. Vein finders are easy to use and save valuable time for both nurses and patients.
The end-user expansion is boosting the market growth of vein finders.
Emerging Field of Mobile Health and Technology in Nursing Education
In future, Mobile health (mHealth) has huge potential to restructure healthcare delivery. Technological
advances in smartphone hardware and software have shown exponential growth in the market. Mobile
health is expected to play an important role in patient self-care as smartphone ownership is rising
globally. It is estimated that more than 259,000 mHealth apps were accessible on app stores and
accounted for approximately 3.2 billion downloads in 2017. Nowadays, innovative mobile apps that use
sophisticated software to scan the skin of the patients have entered the market. User-friendly image
platforms provide vein lining images to the physicians and nurses. These vein illumination mobile apps
can be used by nursing practices and educational institutes.
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Vein Finder Market Analysis
Increased Opportunities in the Cosmetic Industry
Over the past years, the number of cosmetic surgeries among the aging population has increased.
Procedures like tightening of the skin, facelift, facial & body contouring, eyelid lift, brow lift, etc. are very
popular. Based on the data by the International Society of Aesthetic Plastic Surgery, cosmetic procedures
and cosmetic surgery injectable increased by around 8% and 11%, respectively, in 2016. This rise in the
no. of procedures increases the need for vein finder devices. However, the venipuncture technique is
fairly common for cosmetic surgeries. There is a need for vein finder devices to improve their efficiency
and reduce the probability of error. Vein finders help to locate facial veins to avoid bruising while
performing procedures such as facial injectable.
Competitive Landscape of the Global Vein Finder Market
The section of the vein finder market features the profiles of the key players competing in the vein finder
market based on their dcompetition ifferential market strategies, market shares, product offerings,
marketing approach, and company dashboard. Some of the key players featured in this report include
AccuVein Inc., Christie Medical Holdings, Koninklijke Philips N.V, Osang Healthcare Co. Ltd, Teleflex Inc.
(Acq. VueTek Scientific, LLC.), TransLite, LLC, ZD Medical, Vivolight, Venoscope LLC, and Shenzhen
Bestman Instruments Co., Ltd.
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Vein Finder Market Analysis
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The key manufacturers offer advanced vein finders. AV400 vein illuminator by AccuVein Inc. allows
healthcare professionals to map veins on the patient’s skin by improving vascular access procedures such
as IV insertion, blood drawing for testing and blood donation and avoiding veins for patients undergoing
cosmetic injectable procedures.
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The vein finder market is largely dominated by few major manufacturers who are competing on the basis of advancement and pricing in the vein finder market. The fragmented nature of the vein finder market decreases the profitability of the business. However, the introduction of the novel device by manufacturers and the growing patient and healthcare professional satisfaction with the use of vein finder, are factors expected to boost the growth of the vein finder market. Companies such as Accuvein, Christie Medical Holdings, and OSANG Healthcare Co., Ltd. hold 56% of the revenue share in the global vein finder market.

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