Picc Tip Placement Systems Market 2022 - Future Plans and Industry Growth with Quantitative And Qualitative Analysis

As per Persistence Market Research, the global PICC tip placement systems market was valued at US$ 114.9 Mn at the end of 2021 and is expected to exhibit a CAGR of 5.7% over the forecast period (2022-2032).

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PICC tip placement systems deal with detecting the location of catheter insertion to avoid multiple complications and reduce the error rate. These devices use magnetic tracking for peripherally-inserted central catheters and final confirmation for insertion is given using ECG. The use of PICC tip placement systems is less time-consuming as compared to X-rays for the confirmation of tip location.

Cases of wrong positioning of catheters using conventional methods such as X-rays are comparatively higher and also require reinsertion, which is time-consuming, whereas, in the case of PICC tip placement systems, instantaneous navigation of the PICC tip confirms the accuracy of the PICC tip position.

Application of PICC tip placement systems has enhanced the efficacy of PICC insertion by assisting doctors in positioning the PICC tip in proximity to the exact location. Physicians and PICC nurses need to follow guidelines established by the Association for Vascular Access (AVA) and Infusion Nurses Society (INS) for the proper placement of PICC tips to increase the accuracy of placing the catheter properly.

Competitive Landscape

Key players in the market are focused on increasing product features and are highly concentrated on acquisition activities to strengthen their position in the PICC tip placement systems market.

For instance, in January 2020, AngioDynamics Inc. announced the acquisition of the C3 Wave PICC tip location system product of the company Medical components Inc., to expand its product portfolio.

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Key Takeaways

Tip location systems hold 81.4% market value share and are expected to display a CAGR of 6.2% over the forecast period.
ECG tip confirmation held a higher share of 70.4% in 2021.
Hospitals accounted for a lucrative market share of 57.5% in 2021.
North America is slated to be the largest regional market and is predicted to register a CAGR of 5.6% through 2032.

"Increase in PICC insertions and with the high adoption rate of technology, PICC tip placement systems are expected to witness advancements over the coming years," says an analyst of Persistence Market Research.

 Key Questions Answered in This Report.

What are the Roadblocks for Picc Tip Placement Systems Suppliers?
What are the Key Opportunities for Picc Tip Placement Systems Manufacturers?
How is Focus on Safety Influencing Picc Tip Placement Systems Demand?
What is the Regulatory Impact on Global Sales of Picc Tip Placement Systems?
Which Region Offers the Largest Opportunity for Sales of Picc Tip Placement Systems?
Where Does the U.S. Stand in the Market for Picc Tip Placement Systems?
What Is the Outlook for Picc Tip Placement Systems Manufacturers in China?
Why is Germany a Lucrative Market for Picc Tip Placement Systems Manufacturers?
Why Will Belgium Outpace Other European Markets for Picc Tip Placement Systems?
Why is There High Demand for Tires in Picc Tip Placement Systems?
Why are Sales of Picc Tip Placement Systems Surging?

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