The global tip location device/equipment market is segmented into technology such as ECG tip confirmation, ECG with magnetic tracking and ECG and intravascular doppler. Among these segments, ECG and intravascular doppler segment is projected to be the fastest growing segment by 2024. Likely, rising demand for tip location device/equipment owing to it reduce the cost of catheterization which is predicted to propel the growth of global tip location device/equipment market. Moreover, rising adoption of technological advanced treatment options is also positively impacting the growth of tip location device/equipment market.
Global tip location device/equipment market is projected to register a 6.4% CAGR over the forecast period i.e. 2016-2023. Moreover, the global tip location device/equipment market is anticipated to reach at noteworthy revenue by 2023. The market is expected to expand on the back of developing healthcare infrastructure of developing nations.
The hospitals segment by end use industry is projected to mask a remarkable CAGR during the forecast period. In terms of regional platform, North America captured the biggest market of tip location device/equipment in 2016 and is projected to witness a CAGR of 7.2% by 2023. Moreover, this growth is attributed to the strong growth of medical facilities in U.S. and Canada. Apart from this, Asia- Pacific is likely to have less contribution in terms of market share due to lack of advance medical facilities, however the market is estimated to show a promising growth owing to the emerging economies.
Rising Occurrence of Long Term Disease
Growing number of people affected with chronic diseases such as cancer and others is believed to be the major factor fuelling the growth of tip location device/equipment market. Further, wide usage of tip location device/equipment for the administration of antibiotics, parenteral nutrition and for chemotherapy is also predicted to foster the growth of tip location device/equipment market across the globe.
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Growing Demand for advanced Techniques
Increasing number of cases witnessed while catheterization such as hematoma, infiltration, phlebitis or embolism due to malpositioning of catheters during a surgical process. Likely, tip location device/equipment reduces the occurrence of incidences of catheter malpositioning by around 10 % to 16%. This factor is projected to propel the growth of tip location device/equipment market.
On the contrary, presence of other alternatives such as traditional chest X-ray technique and fluoroscopy is anticipated to hamper the growth of tip location device/equipment market.
The report titled “Tip Location Device/Equipment Market: Global Demand Analysis & Opportunity Outlook 2023” delivers detailed overview of the global tip location device/equipment market in terms of market segmentation by product, by technology, By end-use-industry and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global tip location device/equipment market which includes company profiling of C.R. Bard Inc., Teleflex Incorporated, AngioDynamics Inc., Vygon S.A, CORPAK MedSystems and FloMedica. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global tip location device/equipment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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