Tip location devices are used toguide PICC in the lower 1/3rd part of superior vena cava, which is the mostappropriate location for PICC tip placement owing to large vein diameter,superior infusate distribution and dilution and high velocity of blood flow
The global TipLocation Devices Market is estimated to account for US$ 33.5 Mn in terms ofvalue in 2019 and is expected to reach US$ 57.0 Mn by the end of 2027.
Global Tip Location DevicesMarket: Drivers
Increasing adoption of PICCprocedures is expected to propel growth of the global tip location devicesmarket over the forecast period. PICC insertion procedure is used to provideextended antibiotic therapy, long chemotherapy regimens or total parenteral nutritionto patients. It is an effective and safe means of venous access. PICC is usedin delivery of various treatment modalities, particularly chemotherapy.
Global Tip Location DevicesMarket: Opportunities
A significant amount of time isrequired for tip location confirmation through x-ray and fluoroscopy.Therefore, decrease in time for initiation of infusion therapy is expected tooffer lucrative growth opportunities for players in the global tip locationdevices market. Central veins are target for placement of central venouscatheters and their tips. Large number of central venous catheter placementprocedures are performed annually in order to administer drugs, measure centralvenous oxygen saturation (Scvo2), and monitor central venous pressure.
Global Tip Location DevicesMarket: Restraints
Lack of trained professionals toperform PICC insertion is also expected to hamper growth of the market.Confirmation of PICC tip location through tip location devices is relativelynew process. The number of trained professionals to perform the protocolefficiently is low. PICC nurses and radiologists usually perform PICC insertionthrough tip location devices. The protocol is specific and requires a trainedprofessional to carry out the procedure in order to obtain the desired resultswith minimum manual error. Therefore, low availability of skilled professionalsis expected to hamper growth of the market.
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Key Takeaways:
Tip location systems segment inthe global tip location devices market was valued at US$ 23.7 Mn in 2018 and isexpected to reach US$ 44.6 Mn by 2027 at a CAGR of 6.8% during the forecastperiod.
Surgical procedures such ascardiovascular surgeries require high precision, and accuracy inplacing/guiding PICC’s. Tip location devices help in guiding PICC’s in lowerpart of superior vena cava. These factors are expected to support growth of thesegment over the forecast period.
The hospitals segment helddominant position in the global tip location devices market in 2018, accountingfor 57.0% share in terms of value, followed by ambulatory surgical centers andcatheterization labs, respectively. Procedures for several diseases such ascardiovascular conditions, and cancer are carried out in hospitals. Increasingnumber of surgical procedures, in turn high demand for placing PICC’s isexpected to support growth of the market over the forecast period.
North America region helddominant position in the global tip location devices market in 2018, accountingfor 43.2% share in terms of value, followed by Europe, and Asia Pacificrespectively. Factors such as customer base, presence of leading manufacturersin the region, and product launches is expected to support growth of the regionover the forecast period.
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Market Trends
Major players in the market arefocused on attending various conferences. For instance, in August 2018, Becton,Dickinson and Company announced to present at the Morgan Stanley 2018 GlobalHealthcare Conference in September 2018.
Players in the market are alsooffering optical tip tracker technology. For instance, Teleflex Incorporatedoffers Arrow VPS Rhythm Device with optional TipTracker Technology.
Regulations
European Medical DeviceRegulatory Approval Process
Global Tip Location Devices Market:Competitive Landscape
Major players operating in theglobal tip location devices market include, Teleflex Incorporated,AngioDynamics Inc., Becton, Dickinson and Company, Vygon S.A., and CORPAKMedSystems
Global Tip Location DevicesMarket: Key Developments
Major players in the market arefocused on adopting M&A strategies to expand their product portfolio. Forinstance, in October 2019, Vygon Group acquired Pilot, an Italy-based firm thatspecializes in ECG guidance devices.
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