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Tip Location Device Market Size

Report ID: GMI9542
Published Date: May 2024
Report Format: PDF

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Tip Location Device Market Size

Tip Location Device Market size was valued at around USD 219.1 million in 2023 and is estimated to grow at 4.3% CAGR from 2024 to 2032. Tip location device (TLD) is a medical device used during vascular access procedures to assist healthcare providers in accurately positioning the tip of a catheter within a patient's body. These devices are particularly useful for central venous catheterization, peripherally inserted central catheter (PICC) placement, and other vascular access procedures where precise catheter tip placement is critical for optimal clinical outcomes.

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The increasing prevalence of chronic diseases such as cardiovascular diseases, cancer, neurological disorders is a significant driver for tip location device market. For instance, according to the World Health Organization (WHO), in 2022, there were an estimated 20 million new cancer cases and 9.7 million deaths worldwide. Thus, this underscores the critical need for precise medical procedures, including the accurate placement of catheters, which is estimated to reach USD 54.7 billion by 2032, to effectively manage and treat these conditions.

Moreover, rising prevalence of vascular access complications, increasing demand for minimally invasive procedures, and technological advancement, are the spreading factors fostering the growth of the market.

Tip Location Device Market Report Attributes
Report Attribute	Details
Base Year:	2023
Tip Location Device Market Size in 2023:	USD 219.1 Million
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	4.3%
2032 Value Projection:	USD 317.3 Million
Historical Data for:	2021 - 2023
No. of Pages:	170
Tables, Charts & Figures:	222
Segments covered:	Product, Technology, End-use, and Region
Growth Drivers:	Increasing demand for minimally invasive procedures Rising prevalence of chronic diseases Technological advancement Rising prevalence of vascular access complications
Pitfalls & Challenges:	High cost of tip location devices Limited reimbursement policies

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Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Tip location device market size was valued at USD 219.1 million in 2023 and is estimated to grow at 4.3% CAGR from 2024 to 2032, driven by the increasing prevalence of chronic diseases, such as cardiovascular diseases.

The ECG with magnetic tracking technology segment of the market was valued at USD 68.2 million in 2023 and is set for rapid expansion through 2032 due to its high precision in determining and guiding catheter tip placement within the body.

U.S. tip location device market size will register 4.5% CAGR during 2024-2032, owing to a well-established ecosystem of companies, research institutions, and healthcare providers driving advancements in technology.

AngioDynamics, Inc., Avanos Medical, Inc., Becton, Dickinson and Company, B. Braun Melsungen AG, Boston Scientific Corporation, Cook Medical, Johnson & Johnson Services Inc., Medical Manufacturing Technologies, Navilyst Medical, Inc, Rose Medical, Sarstedt AG & Co. KG, and Smiths Group Plc among others.