Tip Location Device/Equipment Market Size & Share - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023

  • Report ID: 197
  • Published Date: Feb 14, 2023
  • Report Format: PDF, PPT

Global Tip Location Device Market Overview

Tip location devices and system are commercialized as a solution to the complication of catheters malpositioning. Catheters are thin tube medical devices which are inserted in human body during surgical procedure and the process is known as catherization. During catherization, malpositioning of catheters is commonly observed in the technique of peripherally inserted central catheters (PICCs) use of tip locator devices reduces the incidences of catheter malpositioning by around 10 % to 16%. Catheters position determination can be done by chest X-ray but the process is considered as time consuming due to poor image quality and repetition of the process to determine the exact catheters position. 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. Tip location devices and systems use micro sensors to indicate right and wrong position of catheters.

                            Tip Location Device Market Demand & Revenue Opportunity

Get more information on this report: Download Sample PDF

Market Size & Forecast

Global tip location devices and systems market is anticipated to project a brandish growth over the period of forecast; the market is estimated to reach USD 48 million by 2023 owing to the adoption of tip location device technique especially in hospitals.

Geographically, North America is anticipated to dominate the global tip location market in terms of revenue witnessing a compound annual growth rate of 7.2%, North America tip location market accounted for 45% of the revenue share to the global market in 2015 owing to the strong growth of medical facilities in U.S and Canada.

Asia-Pacific is anticipated to account 10% of the global market share in 2016 due to lack of technological advanced medical facilities, however Asia-Pacific tip location market is likely to expand at a promising compound annual growth rate over the period of forecast. 

 North America and Europe are introduced to the tip location devices technology but the developing regions still require advancement in medical devices market to overcome the traditional chest x-rays for locating catheters. 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.

Demand Analysis By Market Segmentation

By Product

By product type, the market can be segmented in to following categories:-

  • Tip location devices and systems
  • Tip location system accessories
  • ECG Cables
  • ECG Clip cable
  • ECG Lead Set

By Technology

On the basis of technology used in tip location devices and systems, the market can be segmented into following categories:-

  • ECG Tip confirmation
  • ECG with magnetic tracking
  • ECG and intravascular Doppler

By End-Use-Industry

Tip location devices and systems find their application in following segments:-

  • Hospitals
  • Ambulatory surgical centers
  • Catheterisation labs

By Region

Global Tip Location Devices Market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Western and Eastern Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Western Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa

Growth Drivers and Challenges

The Tip location market is mainly driven by increasing prevalence of chronic disease which results in the adoption of peripherally inserted central catheters (PICCs) technique, the technique is popular for treatment of cancer used for administration of antibiotics, parenteral nutrition and for chemotherapy across the globe.

Increasing demand for technological advanced treatment options across the globe is expected to be the key factor that will boost the growth of tip location device market over the period of forecast.

Catherization often results in complications such as hematoma, infiltration, phlebitis or embolism. Increasing complications due to the use of conventional catheters position determination techniques will force the hospitals towards the use of tip location device and systems and further increase the demand of tip location device across the globe.

Use of traditional chest X-ray technique and fluoroscopy is considered to be the main factor restraining the growth of global tip location device market.

Top Featured Companies Dominating the Market

  • C.R. Bard, Inc.
  • Teleflex Incorporated
  • Angio Dynamics Inc.
  • Vygon S.A.
  • CORPAK MedSystems.     


In the News

Author Credits:  Radhika Gupta, Shivam Bhutani

  • Report ID: 197
  • Published Date: Feb 14, 2023
  • Report Format: PDF, PPT

FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.

 Request Free Sample Copy

Have questions before ordering this report?

Inquiry Before Buying