Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Vein finders are the specialized tools which are utilized by medical service providers during the time of venipuncture and hence facilitate the detecting of invisible veins without causing any discomfort to the patients. Additionally, the equipment is used for identifying veins that are below the skin. Thus, these devices help in finding veins which are difficult to recognize, thereby offers assistance for drawing blood IV access in many groups of patients which comprised of obese individual & the elderly patients. The primary objective of the vein finder tools is to offer superior healthcare services to patients.
The vein finder market is anticipated to grow at CAGR of 12.34% during forecast period of 2021 to 2027. The vein finders are one of the beneficial tools gaining attention in the market owing to different advantages offered by the vein finder tool. The major factors such as surge in aging population affected by chronic illness is boosting the growth of vein finder market. Increasing cases of hospitalizations is also refuelling the growth of vein finder market. High customer satisfaction gained by hospitals and clinics is also propelling the growth of vein finder market. However, lack of skilled professionals is hindering the growth of vein finder market.
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 3600 analysis of micro and macro-economic factors on the vein finder market. In addition, complete analysis of changes on vein finder organizations expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on Global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. The COVID-19 has almost affected every market is healthcare industries positively or negatively. Medical device companies initially focused on the immediate crisis response such as keeping employees safe, ensuring business continuity and rapid changes in the healthcare ecosystems. Owing to drastic drop in elective medical procedures, many of which are being postponed or cancelled so that hospitals can focus on treating COVID-19 patients, results in drop in use of other products. Thereby, the vein finder market is get hampered by the COVID-19 pandemics.
The vein finder market is segmented into the type, application, product, technology, end user and geography.
The vein finder market is comprised of various type of vein finder such as active vein finder and passive vein finder. In which active vein finders is expected to dominate the market in 2020. The rising adoption of vein finder tools is propelling the growth of vein finder tool. Increased applications of active vein finder in hospitals and nursing homes for venipuncture procedures and IV access is also boosting growth of vein finder market.
The vein finder market is comprised of various application vein finder tools such as blood draw/vein puncture and IV access. In which IV access is estimated to dominate the market in 2020. The rising applications of vein illuminators for IV nutritional support, IV fluid administrations is propelling growth of vein finder market. Rising administrations of IV chemotherapy is also boosting the growth of vein finder market. The technological advancement in IV canulation techniques is also refuelling growth of vein finder market.
The vein finder market is comprised of various vein finder products such as benchtop and handheld. In which handheld is expected to dominate the market in 2020. The rising exigency for easy handling tools is propelling the growth of vein finder market. The rising demand for advanced technology in the healthcare industry is also refuelling growth of vein finder market. The growing adoption of handheld vein finder is also driving the growth of vein finder market.
The vein finder market is comprised of various technologies such as infra-red, ultra-violet and ultrasound. In which infra-red is accounted for the major market share in 2020. The infra-red projections are absorbed by the blood and surroundings tissue. This information is then captured and projected on the skin surface in real time. This makes them more demandable in the market.
The vein finder market is comprised of end users such as hospitals, ambulatory surgical centres, specialized clinics and blood donation centres. In which hospitals are expected to dominate the market in 2020. The high usage rate in hospitals is propelling the growth of vein finder market. Rising focus on delivery of advanced healthcare facilities is boosting the growth of vein finder market. The high patient outflow is also refuelling growth of vein finder market.
The vein finder market is studied for key countries of regions such as North America, Europe, Asia Pacific and Rest of the World. The North America is anticipated to dominate the market in 2020. The rising economic development is propelling the growth of vein finder market. The growing adoption advanced technology in healthcare industry is also refuelling growth of vein finder market. The rising exigency advanced medical devices in hospitals is also boosting the growth of vein finder market.
The major key players in vein finder market are Christie Medical Holdings Inc., Accuvein Inc., Translite Llc, Near Infrared Imaging Inc., Teleflex Incorporated (Vuetek Scientific Llc), Venoscope, Koninklijke Philips N.V., B. Braun Melsungen Ag, Vino Optics and Becton, Dickinson And Company among others.
June 2019: CARE stream group announced their acquisition of Christie Medical Holdings, Inc., of Memphis, TN. Chirstie Medictal Holdings is a leader in vein visualization that operates in 50 countries worldwide.
February 2018: AccuVein AV 400 was issued a medical device license for its usage in Canada.
The report analyses the vein finder market based on type, application, product, technology, end user and geography. The report also imparts the dominating segments of the market. The type segment is dominated by the active vein finder. The application segment is dominated by IV access. Likewise, the product segment is leaded by handheld and technology segment is dominated by infra-red. Furthermore, the end user segment is dominated by the hospitals. The North America is anticipated to dominate the market in 2020. The report also comprised of the impact of COVID-19 on vein finder market. The COVID-19 has almost affected every market is healthcare industries positively or negatively. Medical device companies initially focused on the immediate crisis response such as keeping employees safe, ensuring business continuity and rapid changes in the healthcare ecosystems. Owing to drastic drop in elective medical procedures, many of which are being postponed or cancelled so that hospitals can focus on treating COVID-19 patients, results in drop in use of other products. Thereby, the vein finder market is get hampered by the COVID-19 pandemics. The report also covered the major key players operating in the market.
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