PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1410526
PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1410526
Fairfield Market Research, a leading industry analyst, has released a comprehensive report on the global PICC tip placement systems market, forecasting robust growth over the next decade. According to the report, the market is estimated at US$ 128 million in 2024 and is expected to reach a valuation of US$ 202 million by 2031.
PICC tip placement systems have emerged as a vital solution in the field of vascular access, where precision is paramount. These systems help mitigate the incidence of radiographic malpositioning of catheters, a concern that affects approximately 3% of patients. Besides ensuring accurate placement, PICC tip placement systems offer a cost-effective alternative to traditional methods.
The components of these systems typically include tip location systems and associated accessories such as integrated catheters, ECG cables, ECG clip cables, and ECG lead sets. They play a pivotal role in addressing the common issue of catheter malpositioning in peripherally inserted central catheters (PICC) and central venous catheters.
The growing demand for PICC tip placement systems is driven by their precision, which surpasses that of conventional methods like chest X-rays. Moreover, as the global healthcare landscape evolves, manufacturers of vascular access devices are increasingly focusing on this technology to cater to the expanding market.
Advancements in imaging technologies have opened up new avenues for PICC tip placement system manufacturers. Improved sensors and innovative imaging software are enhancing the reliability and reproducibility of results. For example, the Arrow VPS G4 tip location device employs an algorithm based on blood flow physiology and intravascular ECG readings to deliver accurate results.
Innovation is also evident in the integration of technologies into advanced systems designed to provide guidance to physicians and PICC nurses during procedures. The Arrow® VPS Rhythm® device incorporates optional TipTracker™ Technology for real-time visual navigation, ensuring precise catheter tip placement.
Despite the promising outlook, challenges persist. The shortage of trained professionals capable of performing PICC tip placement procedures is a notable obstacle. Inadequate training and other hurdles may impede the adoption of PICC tip placement systems, particularly in developing countries.
Moreover, the usage of these systems is limited to specific patient groups. Conditions such as severe tachycardia, atrial fibrillation, and pacemaker-driven rhythm can alter the P-wave generated by the heart, making it challenging to confirm the PICC tip location using these systems. In such cases, chest X-rays or fluoroscopy remain preferred methods.
The COVID-19 pandemic brought unprecedented challenges to the healthcare system. To minimize patient exposure to the virus, strategies such as using long dwelling catheters, PICCs, and wireless probes were adopted. Alternatives to X-ray-based tip localization methods were explored, and barrier precautions were emphasized. This led to a positive impact on the demand for PICC tip placement systems and the overall medical devices market.
The United States stands as the largest and most lucrative PICC tip placement systems market within North America. It has consistently maintained a dominant market share, with a strong growth trajectory expected during the forecast period.
The U.S. market's continued prominence is attributed to efficient approval processes facilitated by the U.S. Food and Drug Administration (FDA). These processes expedite product adoption, particularly in the context of PICC placements.
Germany has emerged as a significant player in the European PICC tip placement systems market. This is driven by an increasing incidence of chronic diseases such as cancer, rheumatoid arthritis, and renal failure, leading to a rising demand for intravenous drug delivery systems.
Furthermore, the presence of partially government-funded healthcare systems in Germany has resulted in companies securing government contracts for the supply of PICC tip placement systems to public hospitals.
China is emerging as a prominent market in the East Asia PICC tip placement systems market. High adoption rates of these devices among specific patient groups are contributing to its growth.
China's PICC tip placement systems market is expected to maintain stability in terms of revenue contribution over the forecast period, with a consistent growth trajectory.
Leading companies in the PICC tip placement systems market are continuously enhancing their capabilities along the value chain, including distributor networks. Strategic acquisitions are also prevalent in the industry, expanding the scope of their businesses.
Integrated Catheters
ECG Cables
ECG Clip Cables
ECG Lead Sets