Tip Location Device Market

Tip Location Device Market Outlook for 2024 to 2034

The tip location device market value is estimated to be worth USD 238.9 million in 2024. The demand for tip location devices is expected to develop at a CAGR of 4.2% during the projected period, reaching a valuation of USD 357.7 million by 2034.

Tip Location Device Market Trends & Analysis

• Healthcare providers are seeking devices that streamline procedures by providing continuous and immediate feedback on catheter positioning. Therefore, the growing demand for tip location devices with point-of-care monitoring features is driving the adoption of radiographic confirmation technologies.
• Companies dedicated to research and development initiatives are specifically focused on crafting imaging devices for infusion therapy equipped with advanced tools and features. These initiatives aim to introduce cutting-edge technologies capable of providing real-time, accurate information about catheter tip dislodgement.

Report Attribute	Details
Tip Location Device Market Size (2024)	USD 238.9 million
Forecasted Market Value (2034)	USD 357.7 million
Projected Growth Rate (2024 to 2034)	4.2% CAGR

Tip Location Device Market Historical Analysis Vs Forecast Outlook

In 2019, the tip location device market held a valuation of USD 198.6 million. Over the subsequent five years, from 2019 to 2023, sales of tip location devices experienced a sluggish CAGR of 3.2%. The industry's net worth surged to USD 228.3 million in 2023.

Attributes	Details
Tip Location Device Market Value (2019)	USD 198.6 million
Market Revenue (2023)	USD 228.3 million
Historical Growth Rate (CAGR 2019 to 2023)	3.2% CAGR

Prominent Factors Fueling the Tip Location Device Market Growth

The market stands to benefit significantly from ongoing innovations in analysis software and biosensors, particularly in enhancing the accuracy of central venous catheter placement. Companies actively investing in research and development of jugular venous catheterization or pediatric catheterization are likely to prefer the introduction of imaging devices and software featuring enhanced safety features.

Challenges Limiting the Market Growth of Tip Location Devices

Despite significant technological advancements in tip location devices, the limited availability of skilled individuals operating these devices acts as a constraint on the market expansion. This challenge is further exacerbated by the lack of resources for training programs, hindering the seamless integration of advanced technologies into healthcare practices, particularly in developing countries where trained professionals are scarce.

Catheter navigation systems often rely on the recognition of the P-wave generated by the heart for accurate placement confirmation. Conditions such as atrial fibrillation, atrial flutter, severe tachycardia, and pacemaker-driven rhythm can significantly alter the morphology and timing of the P-wave. This alteration complicates tip confirmation tools’ ability to provide precise information, posing challenges for accurate diagnosis and treatment.

Changes in the P-wave due to cardiac rhythm disturbances can compromise the accuracy of tip confirmation through wearable tip location devices. Inaccurate readings may lead to suboptimal catheter placement, potentially resulting in complications or the need for additional catheter position detection procedures.

Country-wise Insights

The table below lists the leading countries based on sales analysis of tip location devices.

Regional Market Comparison	Forecasted CAGR (2024 to 2034)
United States	2.7%
Germany	2.9%
United Kingdom	3.9%
France	8.1%
China	9.9%

Innovative Tip Location Devices are Fronted by Market Players in the United States

The United States dominates the intravascular location device market and is expected to exhibit a CAGR of 2.7% throughout the forecast period.

• The competitive landscape in the United States healthcare sector fosters innovation in medical navigation systems and maintains high standards of care.
• Regional companies supply leading medical research institutions, technology firms, and healthcare providers with vein visualization devices and vascular access technology.
• The well-established regulatory framework for healthcare technology overseen by the USFDA is often regarded as a benchmark for quality and safety globally.

The Medical Tourism Sector is Shaping the Market in the United Kingdom

Tip location device sales in the United Kingdom are expected to increase at a rate of 3.9% per year until 2034.

• A well-established healthcare infrastructure, with a focus on medical tourism, is driving the demand for adult and neonatal catheter placement treatments.
• Global reach and market access favor companies with a global presence. These leverage their distribution networks and market access to become leaders in the international medical device market.

China is the Leading Supplier of Tip Location Devices in Asia Pacific

China held the dominant revenue share in the East Asian market, contributing 70.8% share in 2023. The market is expected to propagate at a CAGR of 9.9% between 2024 and 2034.

• This forecast is attributed to the high utilization rates of intravascular location devices, particularly among patients aged over 50 years and female patients within the country.
• The higher prevalence of PICC procedures in higher age groups is driving sales in China, making it a focal point for the tip confirmation system market.

Tip Location Device Manufacturers are Gaining Ground in France

The demand for tip location devices in France is anticipated to develop at a CAGR of 8.1% through 2034.

• The collaborative environment and access to cutting-edge research can foster innovation in medical devices, including real-time catheter tip tracking.
• Companies that successfully navigate and comply with European healthcare regulations may gain a competitive edge.

The Supply of Tip Location Devices in Germany Rising with Prevalence of Chronic Diseases

Germany occupied around half of the revenue share in the Western Europe intravascular location device market in 2023. The tip location device market is expected to exhibit a CAGR of 2.9% during the forecasted period.

• Increased incidence of chronic diseases such as cancer, rheumatoid arthritis, and renal failure across different age groups is fueling the need for intravenous drug delivery systems and diagnostic services.
• Government-funded healthcare systems in the country are leading companies to pursue government contracts for the development of catheter guidance systems.

Category-wise Insights

Tip Location Systems are Gaining Traction over Accessories

Attributes	Details
Top Product Type	Tip Location System
Market Segment Growth Rate from 2024 to 2034	5% CAGR
Market Segment Growth Rate from 2019 to 2023	3.7% CAGR

Based on product type, the tip location system segment is anticipated to witness a higher CAGR of 5% from 2024 to 2034. The net worth of this segment was USD 119.8 million, representing a substantial 52.5% market share in 2023.

• The provision of real-time tip confirmation technology serves to enhance the accuracy of central line tip detection and catheter placement verification.
• Disposable tip location devices enhance patient safety and minimize exposure to radiation, thereby reducing the potential risks associated with misplacement and its ensuing complications.

ECG Tip Confirmation Technology is More Popular in the Market

Attributes	Details
Top Technology Type	ECG Tip Confirmation
Market Segment Growth Rate from 2024 to 2034	3.6% CAGR
Market Segment Growth Rate from 2019 to 2023	3.3% CAGR

Based on technology type, the ECG tip confirmation segment contributed to more than 90% of the market share in 2023. This segment is likely to retain its dominance throughout the projected period, with a projected CAGR of 3.6%.

• ECG tip confirmation technology provides prompt confirmation of the PICC tip location at the bedside, allowing for immediate release of the PICC line placement.
• ECG-guided catheter placement enhances efficiency and minimizes catheter manipulations compared to the traditional "blind" insertion method.
• Electrocardiography (ECG) eliminates expenses related to confirmatory chest X-rays and reduces the time previously spent waiting for X-ray confirmation readings.

Hospitals Remain the Proffered Choice for Catheter Placement Patients

Attributes	Details
Top End User Vertical	Hospitals
Market Segment Growth Rate from 2024 to 2034	4.4% CAGR
Market Segment Growth Rate from 2019 to 2023	3.6% CAGR

Based on different end users of intravascular location technology, the hospital segment accounted for more than 50% of catheter navigation system sales in 2023. This segment is projected to rise further, registering a CAGR of 4.4% through the forecast years.

• Medical imaging devices find widespread use in hospitals, especially in critical care settings that involve interventional radiology.
• Vascular access devices contribute to patient safety and the efficacy of vascular access procedures, ensuring that healthcare practitioners can navigate catheters with precision to prevent complications.

Competitive Landscape of the Tip Location Device Market

To strengthen their positions, leading companies are strategically collaborating and expanding their geographical reach. These companies promise better precision in minimally invasive procedures and aim to foster a transformative impact on the landscape of the tip location devices industry. Key market players are entering new areas to reach a larger consumer base and take advantage of new opportunities through geographical expansion.

Recent Developments in the Tip Location Device Market

• In May 2023, Teleflex Incorporated launched two groundbreaking devices set to transform PICC insertion procedures. The Arrow® VPS Rhythm® DLX device and NaviCurve™ Stylet together bring a new level of efficiency and predictability for vascular access specialists.
• In June 2023, BD inaugurated a state-of-the-art research and development center in Dublin, investing around USD 4.32 million. It also announced plans to allocate a further approximately USD 32.41 million to improve its manufacturing facility in Enniscorthy, Ireland.

Key Players Profiled in the Tip Location Device Market Report

• Becton, Dickinson and Company
• AngioDynamics
• B. Braun Melsungen AG
• Vygon (UK) Ltd.
• Teleflex Incorporated

Tip Location Device Market Report Scope

Attribute	Details
Estimated Market Size (2024)	USD 238.9 million
Projected Market Size (2034)	USD 357.7 million
Anticipated Growth Rate (2024 to 2034)	4.2%
Forecast Period	2024 to 2034
Historical Data Available for	2019 to 2023
Market Analysis	USD million or billion for Value and Units for Volume
Key Regions Covered	North America; Latin America; Europe; Middle East & Africa (MEA); East Asia; South Asia and Oceania
Key Countries Covered	United States, Canada, Brazil, Mexico, Germany, Spain, Italy, France, United Kingdom, Russia, China, India, Australia & New Zealand, GCC Countries, and South Africa
Key Segments Covered	By Product Type, By Technology Type, By End Use Verticals, and By Region
Key Companies Profiled	Becton, Dickinson and Company; AngioDynamics; B. Braun Melsungen AG; Vygon (UK) Ltd.; Teleflex Incorporated
Report Coverage	Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing	Available upon Request

Table of Content

• 1. Executive Summary
• 2. Market Overview
• 3. Key Market Trends
• 4. Value Added Insights
• 5. Market Background
• 6. Global Market Demand (in Volume) Analysis 2018 to 2023 and Forecast, 2024 to 2034
• 7. Global Market Pricing Analysis
• 8. Global Market Demand (in Value or Size in USD Million) Analysis 2018 to 2023 and Forecast, 2024 to 2034
• 9. Global Market Analysis 2018 to 2023 and Forecast 2024 to 2034, By Product
  • 9.1. Tip Location System
  • 9.2. Accessories
    • 9.2.1. Integrated Catheters
    • 9.2.2. ECG Cables
    • 9.2.3. ECG Clip Cables
    • 9.2.4. ECG Lead Sets
• 10. Global Market Analysis 2018 to 2023 and Forecast 2024 to 2034, By Technology
  • 10.1. ECG Tip Confirmation
  • 10.2. ECG with Magnetic Tracking
  • 10.3. ECG and Intravascular Doppler
• 11. Global Market Analysis 2018 to 2023 and Forecast 2024 to 2034, By End User
  • 11.1. Hospitals
  • 11.2. Ambulatory Surgical Centers
  • 11.3. Catheterization Labs
• 12. Global Market Analysis 2018 to 2023 and Forecast 2024 to 2034, By Region
  • 12.1. North America
  • 12.2. Latin America
  • 12.3. East Asia
  • 12.4. South Asia & Pacific
  • 12.5. Western Europe
  • 12.6. Eastern Europe
  • 12.7. Middle East & Africa
• 13. North America Market Analysis 2018 to 2023 and Forecast 2024 to 2034
• 14. Latin America Market Analysis 2018 to 2023 and Forecast 2024 to 2034
• 15. East Asia Market Analysis 2018 to 2023 and Forecast 2024 to 2034
• 16. South Asia & Pacific Market Analysis 2018 to 2023 and Forecast 2024 to 2034
• 17. Western Europe Market 2018 to 2023 and Forecast 2024 to 2034
• 18. Eastern Europe Market Analysis 2018 to 2023 and Forecast 2024 to 2034
• 19. Middle East & Africa Market Analysis 2018 to 2023 and Forecast 2024 to 2034
• 20. Market Structure Analysis
• 21. Competition Analysis
  • 21.1. Teleflex Incorporated
  • 21.2. Becton, Dickinson and Company
  • 21.3. AngioDynamics
  • 21.4. B. Braun Melsungen AG
  • 21.5. Vygon (UK) Ltd.
• 22. Assumptions and Acronyms Used
• 23. Research Methodology