Using an infrared camera, the robot identifies a suitable vein and accesses the vein with ultrasound guidance.
A second video, not embedded in this post, explains that the robot is about 83% successful at drawing blood which compares favorably to the success rate of experienced human phlebotomists. The robot's inventor hopes to refine the procedure to get the success rate up to 90%.
It also says that there are 9 billion blood draws per year in the United States suggesting that a market is certainly there.
The second video also mentions the discomfort patients experience when a phlebotomist misses or damages the vein.