Tip location devices are used to
guide PICC in the lower 1/3rd part of superior vena cava, which is the most
appropriate location for PICC tip placement owing to large vein diameter,
superior infusate distribution and dilution and high velocity of blood flow
The global Tip
Location Devices Market is estimated to account for US$ 33.5 Mn in terms of
value in 2019 and is expected to reach US$ 57.0 Mn by the end of 2027.
Global Tip Location Devices
Market: Drivers
Increasing adoption of PICC
procedures is expected to propel growth of the global tip location devices
market over the forecast period. PICC insertion procedure is used to provide
extended antibiotic therapy, long chemotherapy regimens or total parenteral nutrition
to patients. It is an effective and safe means of venous access. PICC is used
in delivery of various treatment modalities, particularly chemotherapy.
Global Tip Location Devices
Market: Opportunities
A significant amount of time is
required for tip location confirmation through x-ray and fluoroscopy.
Therefore, decrease in time for initiation of infusion therapy is expected to
offer lucrative growth opportunities for players in the global tip location
devices market. Central veins are target for placement of central venous
catheters and their tips. Large number of central venous catheter placement
procedures are performed annually in order to administer drugs, measure central
venous oxygen saturation (Scvo2), and monitor central venous pressure.
Global Tip Location Devices
Market: Restraints
Lack of trained professionals to
perform PICC insertion is also expected to hamper growth of the market.
Confirmation of PICC tip location through tip location devices is relatively
new process. The number of trained professionals to perform the protocol
efficiently is low. PICC nurses and radiologists usually perform PICC insertion
through tip location devices. The protocol is specific and requires a trained
professional to carry out the procedure in order to obtain the desired results
with minimum manual error. Therefore, low availability of skilled professionals
is expected to hamper growth of the market.
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Key Takeaways:
Tip location systems segment in
the global tip location devices market was valued at US$ 23.7 Mn in 2018 and is
expected to reach US$ 44.6 Mn by 2027 at a CAGR of 6.8% during the forecast
period.
Surgical procedures such as
cardiovascular surgeries require high precision, and accuracy in
placing/guiding PICC’s. Tip location devices help in guiding PICC’s in lower
part of superior vena cava. These factors are expected to support growth of the
segment over the forecast period.
The hospitals segment held
dominant position in the global tip location devices market in 2018, accounting
for 57.0% share in terms of value, followed by ambulatory surgical centers and
catheterization labs, respectively. Procedures for several diseases such as
cardiovascular conditions, and cancer are carried out in hospitals. Increasing
number of surgical procedures, in turn high demand for placing PICC’s is
expected to support growth of the market over the forecast period.
North America region held
dominant position in the global tip location devices market in 2018, accounting
for 43.2% share in terms of value, followed by Europe, and Asia Pacific
respectively. Factors such as customer base, presence of leading manufacturers
in the region, and product launches is expected to support growth of the region
over the forecast period.
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Market Trends
Major players in the market are
focused on attending various conferences. For instance, in August 2018, Becton,
Dickinson and Company announced to present at the Morgan Stanley 2018 Global
Healthcare Conference in September 2018.
Players in the market are also
offering optical tip tracker technology. For instance, Teleflex Incorporated
offers Arrow VPS Rhythm Device with optional TipTracker Technology.
Regulations
European Medical Device
Regulatory Approval Process
Global Tip Location Devices Market:
Competitive Landscape
Major players operating in the
global tip location devices market include, Teleflex Incorporated,
AngioDynamics Inc., Becton, Dickinson and Company, Vygon S.A., and CORPAK
MedSystems
Global Tip Location Devices
Market: Key Developments
Major players in the market are
focused on adopting M&A strategies to expand their product portfolio. For
instance, in October 2019, Vygon Group acquired Pilot, an Italy-based firm that
specializes in ECG guidance devices.
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