Vein finder is a device used for detecting vein in patients without causing any discomfort. The hemoglobin present in the blood absorbs the light rays emitted by the device and the vein appears visibly different than its surrounding tissues. Vein finder device help health professionals in drawing blood or in intra-venous therapy. The device can be helpful in cases where it is difficult to find veins such as elderly patients, obese, dark skinned, and burnt patients, and drug abusers.
Global Vein Finder Market Drivers
Key players in the market are focused on adapting strategies such as partnerships and collaborations to enhance their market share, which in turn is expected to boost the global vein finder market growth over the forecast period. For instance, in April 2017, Christie Medical Holdings Inc., a company focused on developing medical technology, collaborated with B. Braun Medical Inc., a manufacturer of medical products. Under the collaboration, both the companies are focused on combining their intravenous therapy related products - Introcan Safety IV catheter and STEADYCare extension set with Wedge catheter stabilizer (manufactured by B. Braun Medical Inc.) and the Vein Viewer (developed by Christie Medical Holdings, Inc.).
Furthermore, key players are actively focused on participating conferences, events, and exhibitions related to vein finder, which is expected to have a positive impact on the global vein finder market growth. For instance, in September 2018, AccuVein Inc. participated in annual scientific meeting of the Association of Vascular Access (AVA) held in Columbus, Ohio. The company exhibited its AV400, a vein viewing system. It is designed especially for children with special healthcare need and is light-weight and portable. It immediately maps the veins when held on the surface of the skin. Therefore, such events may broaden the exposure of emerging technology in vascular access, thereby driving the global vein finder market growth.
Advantages of vein finder over venipuncture (the conventional method of vascular access) is expected to accelerate the global vein finder market growth. Venipuncture attempts can fail leading to discomfort and pain in patients. It may also lead to bleeding complications such as hematoma (blood clotting under the skin), infections such as cellulitis can occur in tissues on the puncture site, and accidental pricking of a nerve may lead to injuries. It can operate even in dark environment and can help healthcare professionals to accurately find the right vein. Therefore, such benefits of vein finder over venipuncture are expected to boost the global vein finder market growth.
Global Vein Finder Market Regional Analysis
North America is expected to hold dominant position in the global vein finder market. Factors such as initiatives taken by governments and other organizations related to vein finder devices are expected to have positive influence on North America vein finder market growth. For instance, in September 2018, Charlotte Eleanor Englehart Hospital Foundation based in Ontario, Canada, started the ‘Smile Cookie Campaign’, a fund raising event. The raised fund was used for purchasing vein finders for Charlotte Eleanor Englehart Hospital. Similarly, in November 2018, NEO Kids Foundation based in Sudbury, Canada, organized a campaign to raise funds for vein viewer. This vein viewer was offered for the kids receiving treatments from the Health Sciences North hospital. Therefore, such initiatives are expected to fuel the global vein finder market growth.
Global Vein Finder Market Restraints
High prices of advanced devices may obstruct the global vein finder market growth. For instance, Veinlite LEDX, designed by TransLite LLC specifically for sclerotherapy and phlebectomy, costs around US$ 629. Therefore, high prices of vein finders may limit the global vein finder market growth in emerging regions such as Africa, Latin America, and Asia Pacific.
Global Vein Finder Market Key Players
Some of the major players operating in the global vein finder market include, AccuVein Inc., Christie Medical Holdings, Inc., VueTek Scientific, LLC, Shenzhen Bestman Instrument Co., Ltd., AIMVEIN LTD ., Koninklijke Philips N.V., Venoscope, BLZ Technology Inc., iiSM Inc., and R B Incorporation Healthcare LLC
Global Vein Finder Market Taxonomy
The global vein finder market is segmented on the basis of product type, technology, end user, and region.
By Product Type
By End User