The Global Tip Location Device market is majorly driven by increasing prevalence of chronic disease and increasing complications by use conventional techniques according to our research report “Global Tip Location Device Market Outlook 2021”.
Regionally, the tip location device market is segmented into North America, Europe, Asia-Pacific and Rest of World (ROW). Among these, North-America is anticipated to witness a significant growth and occupy the largest share of the tip location device market by 2021.
Global tip location device/ equipment market is anticipated to reach USD 48 million by 2023 owing to the adoption of tip location device technique especially in hospitals. North-America market is expected to dominate the global tip location market in terms of revenue owing to the strong growth of advanced medical facilities in the region.
Asia- Pacific is likely to be on lower side 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 of developing nations such as India and China and the government initiatives of the respective countries to improve the medical facilities of the countries.
Increasing Prevalence of Chronic Disease: Thrust
Tip location devices are widely used for the treatment of chronic diseases such as cancer. Increasing adoption of tip location devices in peripherally inserted central catheters (PICCs) technique will further boost the growth of tip location device market across the globe. Use of tip location devices reduces vein damage and spams as the devices are technological advanced with 98% accuracy in navigation and targeting for the catheter in comparison to the conventional techniques.
Increasing Complications Using Conventional Techniques: Momentum
Catherization often results in complications such as hematoma, infiltration, phlebitis or embolism due to malpositioning of catheters during a surgical process. Use of tip locator devices reduces the incidences of catheter malpositioning by around 10 % to 16%. Tip location devices and systems reduce the cost of catheterization and have a higher edge over the convention technique of X-rays in determination of catheters malpositioning during surgical process.
The report titled “Global Tip Location Device Market Outlook 2023” delivers detailed overview of the tip location device in terms of market segmentation by regions, by types, by end use industry applications.
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 tip location device industry which includes company profiling of C.R. Bard Inc., Teleflex Incorporated, AngioDynamics Inc., Vygon S.A, CORPAK MedSystems. etc. 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 on the global tip location device 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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