How big is the Vein Illuminator Market?

The Vein Illuminator Market size is expected to reach USD 339.29 million in 2024 and grow at a CAGR of 22.77% to reach USD 946.29 million by 2029. Read More

What is the current Vein Illuminator Market size?

In 2024, the Vein Illuminator Market size is expected to reach USD 339.29 million. Read More

Who are the key players in Vein Illuminator Market?

AccuVein Inc, VueTek Scientific LLC, Venoscope LLC, Christie Medical Holdings Inc. and Sharn Anesthesia are the major companies operating in the Vein Illuminator Market. Read More

Which is the fastest growing region in Vein Illuminator Market?

North America is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Vein Illuminator Market?

In 2024, the North America accounts for the largest market share in Vein Illuminator Market. Read More

What years does this Vein Illuminator Market cover, and what was the market size in 2023?

In 2023, the Vein Illuminator Market size was estimated at USD 276.36 million. The report covers the Vein Illuminator Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Vein Illuminator Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Vein Illuminator Market Trends

Statistics for the 2023 & 2024 Vein Illuminator market trends, created by Mordor Intelligence™ Industry Reports. Vein Illuminator trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of Vein Illuminator Industry

This section covers the major market trends shaping the Vein Illuminator Market according to our research experts:

Growing Healthcare Spending and Equipment Market Expected to Drive the Market

Based on Centers for Medicare & Medical Services data the US government's national healthcare spending is projected to grow at an average rate of 5.5% per year from 2018-27 and reach nearly USD 6 trillion by 2027. This is expected to drive the market.
The Indian healthcare industry is experiencing rapid changes and growth and has become the country's one of the largest sectors. According to the International Trade Association, India's USD 150 billion healthcare market in 2018 is expected to reach USD 280 billion. Healthcare in India consists of hospitals, medical devices, clinical trials, outsourcing, telemedicine, medical tourism, health insurance, and medical equipment.
The rise of medical procedures is expected to drive the market demand positively. According to the American Society of Plastic Surgeons, almost 18 million people underwent surgical and minimally invasive cosmetic procedures in the US during 2018.
Companies, such as AccuVein, have been increasingly suggesting the need for such technologies. The use of AccuVein technologies has increased the chance of a successful first-time stick by about 3.5 times the existing success rate.

Vein Illuminator Market - Expenditure on Surgical and Non-Surgical Cosmetic Procedures, In SD Billions, US, 2018

Understand The Key Trends Shaping This Market

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North America Holds A Significant Share of the Market

According to the CDC report, the prevalence of obesity among adults aged 20 and over in the US during fiscal 2018 stood at 31.7%. These factors further emphasize the need for vein visualization techniques for accurate procedures.
The US is currently a prominent market for medical equipment for both imports and exports. According to MFDS, Korea exported USD 618.69 million worth of medical equipment to the US during fiscal 2018.
Canada is one of the significant markets for the healthcare industry, during fiscal 2018 the number of procedures submitted to CJRR stood at 94,439. The growth in the number of procedures done is expected to drive the market for vein illuminators.
Canada has a prominent medical device market; according to EMERGO Canada's medical device market is expected to reach USD 8.6 billion by 2020 and device imports account for 80% of the medical device market.