Global Portable Vein Finder Market 2023-2030

Global Portable Vein Finder Market 2023-2030

Global Portable Vein Finder Market reached US$ YY million in 2022 and is expected to reach US$ YY million by 2030 growing at a CAGR of YY% during the forecast period 2023-2030.

Portable vein finder locates veins by showing real-time images of veins on the patient's skin. Vein finders are not often portable, but portable ones are easy to carry around during the venipuncture techniques for different patients in hospital settings. These are also called vein illuminators, as they use trans-illumination technology to view the veins on the skin's surface.

Vein viewers enhance accuracy, minimize discomfort, and reduce the risk of venipunctures. Phlebotomists mainly use vein viewers to help locate veins for blood draws, which improves the procedure's success rate. Vein finders reduce complications, increase patient satisfaction, and increase first-attempt success.

Market Dynamics: Drivers & Restraints

Increasing hospital admissions

The number of hospitalizations and regular healthcare checkups increased during the pandemic. The growing awareness about health among people is making people regularly visit doctors. Vein finders are used for patients to draw blood, venipuncture, etc., which is done to patients for diagnosis, monitoring, and treatment purposes. Increased hospital admissions increase the use of vein finders, further driving the market.

For instance, according to the American Hospital Association, 2023, per the data provided by over 6,200 hospitals and 400 healthcare systems, total admissions in all U.S. hospitals are 34,011,386.

Furthermore, according to the World Health Organization, 2023, At the global level, during the past 28 days (August to September 2023), a total of 95 999 new hospitalizations and 985 new ICU) admissions were reported, an increase of 42% and 12% respectively, compared to the previous 28 days (July to August 2023).

According to the Australian Institute of Health and Welfare, 2023, there were 11.6 million public and private hospital admissions in 2021–22, a 2.1% decrease from the previous year. This followed a 6.3% increase from 2019–20 to 2020–21.

First attempt failure in dark-skinned people

Patients with medium or dark skin color had a first IV attempt success rate of 57% for PIV catheter insertions, while fair skin color patients had a rate of 78%. The success rate for patients with dark or medium skin color was nearly 57.1%, which was 21% less than the success rate for those with light skin color (78%). According to Accuvein, the first stick attempt failure rate is up to 21% higher in patients with dark skin pigmentation. Vein finders are not so feasible on dusky and dark skin tones because the illuminated light is not visible in dark-skin-toned people.



Segment Analysis

The global portable vein finder is segmented based on product type, technology, end-user and region.

The transillumination segment accounted for approximately 47.3% of the market share

Transillumination uses light to illuminate the veins. The image is due to deoxyhemoglobin in the venous blood, which absorbs red light and radiates the veins as dark lines on the skin's surface. This is the easiest and most reliable way of accessing the vein on the skin's surface. Launching the vein finders using transillumination technology makes the work of clinicians easy due to its efficiency.

In April 2022, ImmunoTek Bio Centers launched the first blood plasma collection centers using VeinViewer, developed by Christie Medical Holdings, which provides phlebotomists with real-time images of the donor's veins before needle insertion.

In September 2021, NextVein LLC launched a product that makes vein visualization affordable for every clinician. The NextVein system is designed from the ground up to be a simple-to-use, cost-effective solution for successful vein access.

Geographical Analysis

North America accounted for approximately 40.2% of the market share in 2022

Hospital admissions in the U.S. increased drastically in 2021; there were over 34 million hospital admissions in the United States. The number of hospitals in the U.S. has decreased in recent years, although the country faces an increasing elderly population. Predictably, the elderly account for the largest share of hospital admissions in the U.S.

For instance, according to the report published in 2023 by the Centers for Disease Control and Prevention (CDC), the total number of hospitalizations from COVID-19, flu, and syncytial virus infections this year, similar to last year, higher than pre-pandemic levels.

Although COVID-19 hospitalizations have drastically decreased since 2022, there is an increase in awareness about healthcare checkups after the pandemic. Moreover, there is an increased geriatric population in the United States and the rest of the world; hence, North America holds the largest share of the market.

COVID-19 Impact Analysis

Covid 19 created a surge in the portable vein finder market. The number of patients visiting hospitals increased during the pandemic, which increased the use of hospital equipment and medical devices. Vein finders allow physicians to access veins easily within less time, which is less time-consuming than manually finding them on patients' skin. For almost all patients, these medical devices are used to access the vein quickly. This has increased the demand for portable vein finders during the pandemic period.

Competitive Landscape

The major global players in the portable vein finder market include AccuVein, Inc, Christie Medical Holdings Inc., Novarix, TransLite, Vuetek, AMBULANC (SHENZHEN) TECH. CO. LTD.ZD Medical, BLZ Technology, B. Braun Medical Inc., ThermoFisher Scientific Inc, Delta Medical International Ltd among others.

Key Developments
• In October 2022, Right Way Medical, a medical device distributor is in partnership with NextVein, to increase patient satisfaction. It uses augmented reality to project the vein pattern on patient skin, bringing clarity and simplicity to clinicians.

Why Purchase the Report?
• To visualize the global portable vein finder market segmentation based on product type, technology, end-user and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of portable vein finder market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global portable vein finder market report would provide approximately 61 tables, 51 figures, and 195 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies