Global vein illuminator device market is expected to flourish at 24.3% CAGR over the forecast period. Moreover, the global vein illuminator device market was valued at USD 38.2 Million in 2016.
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The global vein illuminator device market is segmented into end user such as hospitals, blood donation banks, rehabilitation centers, nursing homes, academic institutions and others. Among these segments, hospitals segment is anticipated to occupy top position in global vein illuminator device market.
Further, rising adoption of advanced healthcare equipment by the hospitals is believed to propel the growth of the vein illuminator device market. Further, rising competition among the hospitals has increased the demand and adoption of advanced healthcare equipment such as vein illuminator device.
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Factors such as rising spending on healthcare, favorable government policies, increasing number of hospitals in developing nations are expected to rapidly trigger the growth of the global vein illuminator device market.
In 2016, North America grabbed the highest percentage of market share in overall vein illuminator device market. Further, North America is expected to continue its dominance over the forecast period.
This can be attributed to the high healthcare expenditure in the region. Moreover, rising old age population has escalated the demand for vein illuminator device.
Asia Pacific is anticipated to showcase a significant rise in the demand for vein illuminator device over the forecast period. Rapid development of healthcare infrastructure and favorable government initiatives are some of the key factors fuelling the demand for vein illuminator device market in the region.
Rising Old Age Population
Increasing old age population in various nations such as U.S., Japan and others has led to the increased demand for access to advanced healthcare equipment. Moreover, rising geriatric population has resulted in spiked growth spending on medicare.
These factors are believed to impel the growth of the global vein illuminator market.
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Innovations and Technological Advancement
Advances in the vein detection technology such as detection of obese person veins are likely to foster the growth of the global vein illuminator market. Moreover, wide scale application of vein illuminator devices for various procedures such as diagnosis, treatment and therapeutic purposes is envisioned to bolster the growth of the vein illuminator device market during the forecast period.
Although, high cost of vein illuminator device and lack of awareness about vein illuminator device in undeveloped regions are some of the factors which are likely to inhibit the growth of the global vein illuminator device market.
The report titled “Global Vein Illuminator Device Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global vein illuminator device market in terms of market segmentation by type, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global vein illuminator device market which includes company profiling of AccuVein Inc., Infrared Imaging Systems Inc., VueTek Scientific LLC, Venoscope LLC, Christie Medical Holdings Inc., Near Infrared Imaging Inc., Sharn Anesthesia, TransLite LLC, Venoscope LLC and Aimvein Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the global vein illuminator device market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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