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.
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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.
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.
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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.
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.
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.
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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.
- By Product Type
- Tip Location Systems
- ECG Cables
- ECG Clip Cables
- ECG Lead Set
- By Technology
- ECG Tip Confirmation
- ECG with Magnetic Tracking
- ECG and IV Doppler
- By End-User
- Ambulatory Surgical Centers
- Catheterization Labs
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