ALBANY, N.Y., Feb. 3, 2021
- Rising influence of vein finders in clinics and hospitals on a massive scale is expected to work in favor of the market in the forthcoming years
- The prevailing threat of COVID-19 has propelled patient self-care to the forefront; Hence, a combination of vein finders and mHealth could generate growth opportunities for the market
ALBANY, N.Y., Feb. 3, 2021 /PRNewswire/ -- Healthcare professionals use vein finders during the procedure of venipuncture and it allows detection of invisible veins sans any discomfort for the patients. These high-end devices are utilized for detecting veins below the skin for IV access and drawing blood in different groups of patients. Technological progress made in the healthcare industry has resulted in healthcare professionals using more of technologically advanced tools, such as vein finders. With the use of such tools, it would be possible to offer improved healthcare services to patients. This factor is likely to foster growth of the global vein finders market over the forecast timeline, from 2019 to 2027.
Vein finders have many benefits, which is why they are increasingly being preferred in the healthcare industry. Hassle-free operation of vein finders makes it suitable for use in the venipuncture process. As such, increasing popularity of this product amongst the healthcare experts is anticipated to generate immense growth opportunities for the market in the near future.
With the outbreak of global pandemic, Covid-19, there has been a considerable surge in the number of laboratory testing procedures globally. This has created lucrative growth opportunities for the participants of the global vein finders market.
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The global vein finders market is expected to register high growth rate of ~17% CAGR over the analysis timeframe, from 2019 to 2027. The market is anticipated to exhibit lucrative growth opportunities in the near future, thanks to the augmented use of vein finders in nursing homes and hospitals worldwide
Key Findings of Vein Finders Market Study
Technological Developments and Innovations Accentuate Demand in the Market
The expansion of the global vein finders market is likely to be influenced by the technological innovations in the field. Innovations have become a common phenomenon in the vein finders sector as several healthcare professionals are increasingly depending on this device. They are using vein finders for correct detection and treatment of several medical conditions worldwide. Players in the global vein finders market are developing novel technologies to accelerate the its adoption and increase market revenue in the years to come.
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Different technologies, such as vein visualization are coming up as major innovations for the market. A case in point is the use of vein visualization technology by AccuVein Vein Finder. Utilizing the NIR (Near-infrared technology) imaging for detection of veins, this highly advanced device causes correct visualization of veins just below the skin. Real-time picture of the subcutaneous vasculature is provided as two lasers work together effectively.
Expansion of Ageing Population to Open Plentiful Opportunities for the Market
Vein finders already have a prominent position in the healthcare industry. It is an essential tool for venipuncture procedures and the demand for this device is foreseen to witness constant rise in the near future. Rise in the incidences of obesity and ageing population are expected to play important role in the growth of the global vein finders market. In according to World Population Ageing 2019 (United Nations 2019), one in every 6 people will be aged 65 years and above by 2050. The same report also mentions that around 62 billion people will fall in the age group of 62 years and above. Such huge presence of elderly people is expected to result in more diseases, pathological testing, and hospitalizations. This factor is likely to play an important role in the development of the global vein finders market over the analysis timeline, from 2019 to 2027.
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Vein Finders Market: Key Driving Factors
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