An Incisive, In-depth Analysis on the Tip Location Devices Market
This study offers a comprehensive, 360 degree analysis on the Tip Location Devices market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Tip Location Devices market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Tip Location Devices Market Outlook & Key Findings
- Tip location devices market was valued at nearly US$ 34.1 Bn in 2019 and it is expected to grow at a CAGR of 6.4% over the forecast period
- Cost-effectiveness offered by tip location devices in case of PICC tip confirmation as compared to X-Ray and fluoroscopy, and increased precision of PICC placement further fueling revenue growth of the tip location devices market
- North America accounts for more than 40% of revenue share and is projected to register a CAGR of 5.3% in terms of value during forecast period
Tip Location Devices Market: Precision to be the Booster
The tip location system facilitates real-time visual navigation. It helps in confirming the ultimate placement of PICC (peripherally inserted central catheter) tip using ECG in superior vena cava’s lower one-third part.
The tip location system, along with its accessories, comply with AVA and INS guidelines with respect to PICC tip placement. Ambulatory surgical centres, catherisation labs, and hospitals are home to PICCs, which are used for obtaining access to the patients’ central venous. PICCs prove to be one of the most reliable alternatives to the non-tunneled central venous catheters as they have lower potential complications and are cost-effective.
PICCs enable parenteral nutrition, administration of antibiotics, and chemotherapy as well. Tip location confirmation via fluoroscopy and X-Ray takes good amount of time, whereas infusion therapy through tip location devices gets done in no time. This factor is expected to offer rewarding opportunities for market players.
Tip Location Devices Market Driven by Inorganic Treatment
Increasing adoption of ECG and IV Doppler-based tip location system in developed economies is expected to fuel the tip location devices market during the forecast period
Various new developments are taking place across the globe on this count. For instance, – in Oct 2019, acquisition of Italy-based Pilot by France-based Vygon was announced. The objective of this acquisition was to get the ECG location/navigation technology of Pilots TLS product. This enhanced Vygon’s portfolio to intravascular therapies like PICC lines, implantable ports, central venous catheters and midlines, and equipment like ECG Pilot TLS system and Vysion XS ultrasound system.
Developments like these are also expected to drive the market during the forecast period. The revenue share of ECG tip confirmation is expected to decline over the forecast period as compared to ECG with magnetic tracking and ECG and IV Doppler. These are expected to take the centre-stage in the forecast period, as ECG with magnetic tracking is reported to show stronger correlation amongst the ischemic regions in heart. ECG and IV Doppler help in detecting abnormal blood flow which could indicate issues with one/more than one valves of the heart.
Tip Location Devices Market Regional Analysis
ECG with magnetic tracking is expected to account for a higher market share as compared to ECG tip confirmation in 2020 due to its higher sensitivity with respect to detection of anomalies in the functioning of heart.
ECG and IV Doppler are expected to take over in the upcoming period, as even the slightest of diversion in the functioning of heart can’t be missed herein.
North America is the leading market for tip location devices globally This could be attributed to rapidly evolving reimbursement scenario followed by increasing incidences of cancer amongst the geriatric population.
North America, along with Europe, collectively account for around 75% of market revenue. Increase in the number of PICC procedures, coupled with new product launches, have placed Europe as the second most lucrative market for tip location devices.
For instance – In Sep 2019, Philips and B. Braun launched Onvision needle tip tracking to empower anesthesiologists to carry out regional anesthesia procedures like peripheral nerve blocks with greater amount of safety and efficiency. Plus, since 2019, POCUS (Point of Care Ultrasound) started getting implemented as a rapid procedural and diagnostic tool; especially in NICU for facilitating lumbar puncture completion and central catheter insertion; and, not to forget – identifying positioning of central catheter.
Extensive research is being carried out to come up with more portable ultrasound devices to boost the healthcare infrastructure in Asia Pacific. This factor is expected to boost tip location device sales in Asia Pacific.
Tip Location Devices Market Trends
Product innovation on continuous basis does help manufacturers increase their customer base. For instance – Bard, a known name in tip location devices, has recently launched Sherlock 3CG Tip Confirmation System (TCS); which has ECG-based PICC and fully integrated magnetic tracking technology. It comes across as Sherlock II Tipp Location System’s modified version. Besides, considering the ongoing Covid-19 pandemic, experts from GAVeCeLT (Long Term Central Venous Access Group) have stated that those suspected or confirmed of Covid-19 but not requiring hospitalization could be administered drugs/solutions through peripheral venous route wherein tip location devices would come into picture. So, apart from the long-term trends, this short-term boost would also keep the market in sync with growth.
Tip Location Devices: Key Players
The global market is dominated by top 5 manufacturers- C.R. Bard, Inc., Teleflex Incorporated, AngioDynamics Inc., Vygon S.A., and CORPAK MedSystems. They are focusing on advancement in tip location devices used specifically for PICC procedure.
For instance – a PICC nurse takes close to 62.4 minutes to insert a blind PICC; whereas Sherlock 3CG Tip Confirmation System takes around 57.5 minutes. This 5-minute reduction was recorded by NICE (National Institute For Health and Care Excellence).
Tip Location Devices Market: The Way Forward
The research report related to tip location devices gives an overview and estimation of market growth between 2020 and 2030. North America and Europe hold a substantial share due to feasible reimbursement scenario in the former and new product launches on the part of latter.
Strategic acquisitions are also likely to play an important role in tip location market growth. Sustenance of the organizations would be greatly dependent on incorporation of technical advancements and innovations. As of now, the tip location devices that are available are being placed bedside. If manufacturers think of miniaturization with the same precision regarding tip replacement, the market could get catalyzed in the forecast period
Tip Location Devices Market Analysis 2020-2030
A recent market study published by Future Market Insights (FMI) on the Tip Location Devices market including global industry analysis for 2015-2019 & opportunity assessment for 2020-2030 delivers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historical as well as current growth parameters of the market, growth prospects are obtained with utmost precision.
Tip Location Devices Market: Segmentation
The global Tip Location Devices is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
Chapter 01 – Executive Summary
The report initiates with the executive summary of the Tip Location Devices market, which includes a snapshot of key findings and statistics. It also includes market size and revenue distribution of the market.
Chapter 02 – Market Overview
Readers can find the definition and a detailed segmentation of the Tip Location Devices market in this chapter, which will help them understand about the basics of the market.
Chapter 03 – Key Market Trends
This chapter highlights the key trends impacting the growth of the Tip Location Devices market over the forecast period. It helps readers understand both - supply side and demand side trends of market.
Chapter 04 – Key Success Factors
This chapter explains the macroeconomic factors, drivers, restraints, and opportunities that are expected to influence growth of the Tip Location Devices market over the forecast period. Moreover, in-depth information about the market dynamics and their impact analysis on the market have been provided in the successive section.
Chapter 05 – Global Tip Location Devices Market – Pricing Analysis
This section includes premium insights such as product adoption analysis, application road map, key promotional strategies, regulations, and many more. It helps readers understand the key factors associated with the market.
Chapter 06 – Global Tip Location Devices Market Demand (in Volume or Size in US$ Mn) Analysis 2015-2019 and Forecast, 2020-2030
This section explains the global market volume analysis and forecast for the market between 2020 and 2030. It includes a detailed analysis of the volume by equipment type.
Chapter 07 – Global Tip Location Devices Market Demand (in Value or Size in US$ Mn) Analysis 2015-2019 and Forecast, 2020-2030
This section highlights the global market pricing analysis by equipment type. It helps reader understand the pricing variation regarding tip location devices in various geographies.
Chapter 08 – Market Background
This section explains the global market value analysis and forecast for the Tip Location Devices between 2020 and 2030. It includes a detailed analysis of the historical Tip Location Devices market, along with an opportunity analysis of the future. Readers can also find the absolute $ opportunity for the current year (2020), and an incremental $ opportunity for the forecast period (2020–2030).
Chapter 09 – Covid-19 Crisis Analysis
This chapter throws light on the ongoing and future impact of Covid-19 on GDP and also gives the economic projection in this regard.
Chapter 10 – Global Tip Location Devices Analysis 2015-2019 & Opportunity Assessment 2020-2030, by Product Type
Based on product type, the market is segmented into tip location system and accessories. In this chapter, readers can find information about the key trends and developments in Tip Location Devices and market attractiveness based on product type.
Chapter 11 – Global Tip Location Devices Analysis 2015-2019 & Opportunity Assessment 2020-2030, by Technology
This chapter provides details about the Tip Location Devices based on technology, and has been classified into ECG tip confirmation, ECG with Magnetic tracking, and ECG with intravascular Doppler. The readers can understand the market attractiveness based on technology.
Chapter 12 – Global Tip Location Devices Analysis 2015-2019 & Opportunity Assessment 2020-2030, by End User
This chapter provides details about the market based on end user, and has been classified into hospitals, ambulatory surgical centres, and catheterization laboratories. The readers can understand the market attractiveness based on end user.
Chapter 13 – Global Tip Location Devices Analysis 2015-2019 & Opportunity Assessment 2020-2030, by Region
This chapter explains how the market will grow across various regions such as North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East & Africa (MEA).
Chapter 14 – North America Tip Location Devices Analysis 2015-2019 & Opportunity Assessment 2020-2030
This chapter includes a detailed analysis of growth of North America’s Tip Location Devices market, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find the regional trends, and market growth based on the application and countries in North America.
Chapter 15 – Latin America Tip Location Devices Analysis 2015-2019 & Opportunity Assessment 2020-2030
This chapter provides the growth scenario of the market in Latin American countries such as Argentina, Brazil, Mexico, and the Rest of Latin America. Along with this, assessment of the market across target segments has been provided.
Chapter 16 –Europe Tip Location Devices Analysis 2015-2019 & Opportunity Assessment 2020-2030
This chapter provides the growth scenario of the market in Europe in several countries such as Germany, the U.K., France, Spain, Italy, Russia, and the Rest of Europe.
Chapter 17 – South Asia Tip Location Devices Analysis 2015-2019 & Opportunity Assessment 2020-2030
This chapter provides the growth scenario of the market in South Asia in several countries such as India, Thailand, Indonesia, Malaysia and rest of South Asia.
Chapter 18 – East Asia Tip Location Devices Analysis 2015-2019 & Opportunity Assessment 2020-2030
This chapter highlights the growth of the Tip Location Devices in East Asia by focusing on China, Japan & South Korea. It also help readers understand the key factors that are responsible for the growth of the market in East Asia.
Chapter 19 – Oceania Tip Location Devices Analysis 2015-2019 & Opportunity Assessment 2020-2030
This chapter highlights the growth of the Tip Location Devices in Oceania. It also helps readers understand the key factors that are responsible for the growth of the market in Australia and New Zealand.
Chapter 20 – MEA Tip Location Devices Analysis 2015-2019 & Opportunity Assessment 2020-2030
This chapter provides information about how the market will grow in the major countries in the MEA region such as GCC Countries, South Africa, Turkey and the Rest of MEA during the forecast period.
Chapter 21 – Emerging & Key Countries Tip Location Devices Market Analysis
This section includes deep dive analysis of the market for key and emerging countries. Readers can understand the market value and volume by product type, technology, and end user for key countries.
Chapter 22 – Market Structure Analysis
This chapter highlights the tier structure analysis, market concentration analysis and company share analysis along with sales footprint analysis of key player operating in the market.
Chapter 23 – Competition Analysis
In this chapter, readers can find a comprehensive list of all the prominent stakeholders in the Tip Location Devices market, along with a detailed information about each company, which includes company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are Teleflex Incorporated, AngioDynamics Inc., C.R Bard Inc., Vygon S.A., and CORPAk MedSystems among others.
Chapter 24 – Assumptions and Acronyms
This chapter includes a list of acronyms and assumptions that provides a base to the information and statistics included in the Tip Location Devices market report.
Chapter 25 – Research Methodology
This chapter helps readers understand the research component methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the Tip Location Devices market.
Sources and Primary Research Splits (%)