TIP LOCATION DEVICES MARKET ANALYSIS

Tip location devices comprise tip location systems and accessories. These devices are installed at bedside and assist physicians or peripherally inserted central catheter (PICC) nurses to comply with INS and AVA guidelines for PICC tip placement.

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

Tip location devices assist physicians to locate the peripherally inserted central catheter (PICC) tip accurately with relatively less radiation exposure to patients as compared to procedures such as chest X-ray. Such advantages of tip location devices are expected to boost growth of the global tip location devices market over the forecast period.

Moreover, use of tip location devices is less time consuming as compared to X-ray for confirmation of tip location, which is also expected to aid in growth of the market. On an average, time required by a PICC nurse for insertion of blind PICC is around 62.4 minutes as compared to PICC insertion with Sherlock 3CG Tip Confirmation System, which requires 57.5 minutes, a significant reduction of five minutes in completion of protocol as per National Institute for Health and Care Excellence (NICE)

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.

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Global Tip Location Devices Market: Restraints

There are some limitations in the use of tip location devices in certain patients, which is expected to hinder growth of the global tip location devices market. Tip location devices are not used in patients that show alterations of cardiac rhythm as various devices track P-wave generated by the heart. Presentation of the P-wave as in atrial fibrillation, atrial flutter, severe tachycardia, and pacemaker driven rhythm hampers accuracy of tip confirmation through tip location devices as these conditions cause alteration in the P-wave generated by the heart. In such conditions, use of chest X-ray or fluoroscopy is preferred for confirmation of PICC tip location.

Moreover, lack of clinical studies is restricting entry of new market players, which in turn is expected to hinder growth of the market.

Global Tip Location Devices Market: Opportunities

Increasing prevalence of cancer is expected to offer lucrative growth opportunities for players in the global tip location devices market. For instance, according to the World Health Organization, around 18.1 million new cases and 9.6 million deaths were registered due to cancer worldwide in 2018.

Majority of tip location devices available in the market are installed bedside. Miniaturization of these devices with the same level of precision in terms of catheter tip placement is also expected to aid in growth of the market. 

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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.

Market Trends/Key Takeaways

The market is witnessing increasing M&A activities. For instance, in January 2020, AngioDynamics  acquired C3 Wave PICC tip location system from Medical Components Inc. The wireless technology eliminates the need for a confirmatory chest x-ray of PICC tip placement.

The market is witnessing R&D of next generation, fully integrated magnetic tracking and ECG-based PICC. For instance, Becton, Dickinson and Company offers Sherlock 3CG Tip Confirmation System (TCS), a next generation, fully integrated magnetic tracking and ECG-based PICC tip confirmation technology.

Regulations

U.S. FDA Medical Device Regulatory Approval Process

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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

Global Tip Location Devices Market: Key Developments

Major players in the market are focused on attending various conferences. For instance, in September 2019, Teleflex Incorporated showcased its Peripheral Intervention product portfolio at the Cardiovascular and Interventional Radiological Society of Europe conference held in Barcelona, Spain.