Europe Vein Finder Market

Europe Vein Finder Market Size (2023 to 2028)

The vein finder market size in Europe is expected to grow from USD 92.89 million in 2023 to USD 192.97 million by 2028, growing at a CAGR of 15.74% from 2023 to 2028.

The growing prevalence of chronic diseases among the geriatric population of Europe is one of the major factors driving the growth of the Europe vein finder market. As the aging population increases, individuals are affected by various ailments such as cancer, cardiovascular diseases, arthritis, and diabetes. Accurate diagnosis and monitoring of these conditions often require frequent blood tests. However, the aging process can make it challenging for healthcare providers to locate veins in older patients due to changes in the skin's appearance and texture. Incorrect needle placement or difficulty in finding veins can lead to complications during treatment. To address these challenges, healthcare providers are increasingly adopting vein finder devices. These devices utilize infrared light technology to quickly locate and display veins on the surface of the skin, enabling healthcare professionals to locate veins efficiently and with ease.

The growing number of surgical procedures and blood tests in the pediatric population and rising growing awareness about the benefits of vein finder devices further contribute to the growth of the Europe vein finder market. In infants, veins are often not easily visible to the naked eye, making it challenging to perform necessary tests and procedures. To overcome this challenge, healthcare providers are utilizing vein finder devices to locate veins and facilitate the collection of blood samples or administration of intravenous treatments. The convenience, safety, and accuracy offered by these devices have led to their widespread adoption among healthcare professionals in laboratories and hospitals, contributing to the growth rate of the European market.

The advancements in the manufacturing of vein finder devices with manufacturers prioritizing the development of devices equipped with advanced technologies, improved screen quality and portable designs promote the growth of the Europe vein finder market. Favorable government support, the involvement of public and private sector organizations, ongoing research and development initiatives and increased product approvals support the European market growth.

The high cost of vein finder devices is one of the major factors hampering the Europe vein finder market. Factors such as limited awareness about the devices in rural areas, a shortage of skilled professionals, prolonged approval processes for novel vein finder devices and limited availability of the devices hinder the growth of the European vein finder market.

This research report on the Europe vein finder market has been segmented and sub-segmented into the following categories.

By Type:

• Active Vein Finders
• Passive Vein Finders

By Product:

• Benchtop
• Handheld

By Technology:

• Infra-Red
• Ultra-violet
• Ultrasound

By Application:

• Blood Draw
• Venipuncture
• IV Access

By End User:

• Hospitals
• Ambulatory Surgical Centers
• Specialized Clinics
• Blood Donation Centers
• Others

By Country:

• UK
• France
• Spain
• Germany
• Italy
• Russia
• Sweden
• Denmark
• Switzerland
• Netherlands
• Turkey
• Czech Republic
• Rest of Europe

The Europe region accounted for the second largest share of the global market in 2022 and is estimated to capture a notable share of the worldwide market during the forecast period owing to the presence of a skilled healthcare workforce and the widespread acceptance of vein finder devices by numerous hospitals in the region. Government and healthcare organizations have undertaken effective awareness campaigns and advertisements to promote the use of vein finder devices contributing to the regional market growth.

Germany led the market in Europe in 2022 and is estimated to grow at a healthy CAGR during the forecast period due to the presence of substantial manufacturing facilities and focus from the manufacturers of vein finder devices to develop cost-effective devices that can be readily adopted by hospitals, clinics and laboratories.

The UK is expected to capture a noteworthy share of the European market during the forecast period due to the presence of numerous clinical trial centers in the region and the growing number of mergers and partnerships among companies.

KEY MARKET PLAYERS:

AccuVein LLC, Christie Medical Holdings, Inc., Venoscope LLC, Infrared Imaging Systems Inc. and VueTek Scientific LLC are some of the major companies in the Europe vein finder market.