The vein finders market promises robust growth as chronic illnesses and IV annulation promise considerable increase in the near future. The vein finder market reported a robust growth and registered an evaluation of $150.9 mn in 2018. This is expected to rise at 17.0% CAGR during 2019-2027.
On the basis of type, the global vein finders market witnessed highest growth in active vein finders in 2017. The rising demand for portability and interconnectivity with other IoT technologies remain key to future growth for both types. Additionally, hand-held and active use to delve deep into tissues and help healthcare provider locate veins efficiently promise more growth for the active vein finders in the near future.
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Chronic Illnesses and Obesity Promise to Drive More Opportunities for Accurate Testing
Vein finders are in rising demand in the healthcare sector, thanks to their growing accuracy and reliability in finding veins. Moreover, these are ideal during emergency procedures to treat victims of accidents, wherein large blood flow can delay the necessary blood infusion. Moreover, in the future , possibilities of mandatory use of vein finders can also be on the cards to treat the growing diabetic and obese urban population globally. Finding veins of obese patients is a challenge for professionals in the healthcare people.
Additionally, limitations in IV access can be fatal to health in some cases. Moreover, rising demand for treat elderly correctly in regards to chronic ailments like cancer, cardiovascular diseases, and HIV is rising in major regions like North America. The rising demand for safe and accurate medical practices, the low-cost reliable options available in the market, and growth of supporting infrastructure like Big Data, and Cloud will drive robust growth for the vein finds market in the near future.
Cosmetic Procedures to Promise New Avenues of Growth
Changing lifestyles are driving significant growth for vein finders market, particularly in aesthetic advancements. In 2018, over 1.8 million cosmetic surgeries were conducted in United States. This includes major cosmetic makeovers including breast implantation, which witnessed a 5% increase. Additionally, vein finders promise a potent application in face enhancement procedures like dermal fillers, skin tightening, and sclerotherapy.
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The high costs of these procedures, and their importance with self-esteem as well as their strong association with socio-economic status are also expected to drive significant opportunities for adoption of new technology like vein finders devices. According to International Society of Aesthetic Plastic Surgery, the total number of cosmetic surgeries globally amounted to 10.8 million. The growth of these surgeries in Asia Pacific region, and changing conception of lifestyle, and expectations are expected to drive robust growth for the vein finders market in the near future.