Tip Location Device Equipment Market Is Projected To Register A 6.4% CAGR Over The Forecast Period 2023

(MENAFN- America News Hour) Tip Location Device/Equipment market report delivers detailed overview of the global tip location device/equipment market in terms of market segmentation by product, by technology, By end-use-industry and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter's five force model.

Tip Location Device/Equipment Market Statistics –

  • The market size is projected to record a valuation of over USD 48 million by 2023
  • The Tip Location Device/Equipment industry is slated to observe 6.4% growth rate through 2016-2023

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The global tip location device/equipment market is segmented into technology such as ECG tip confirmation, ECG with magnetic tracking and ECG and intravascular doppler. Among these segments, ECG and intravascular doppler segment is projected to be the fastest growing segment by 2024. Likely, rising demand for tip location device/equipment owing to it reduce the cost of catheterization which is predicted to propel the growth of global tip location device/equipment market.

Moreover, rising adoption of technological advanced treatment options is also positively impacting the growth of tip location device/equipment market.

Global tip location device/equipment market is projected to register a 6.4% CAGR over the forecast period i.e. 2016-2023. Moreover, the global tip location device/equipment market is anticipated to reach at noteworthy revenue by 2023. The market is expected to expand on the back of developing healthcare infrastructure of developing nations.

The hospitals segment by end use industry is projected to mask a remarkable CAGR during the forecast period. In terms of regional platform, North America captured the biggest market of tip location device/equipment in 2016 and is projected to witness a CAGR of 7.2% by 2023. Moreover, this growth is attributed to the strong growth of medical facilities in U.S. and Canada. Apart from this, Asia- Pacific is likely to have less contribution in terms of market share due to lack of advance medical facilities, however the market is estimated to show a promising growth owing to the emerging economies.

Rising Occurrence of Long Term Disease

Growing number of people affected with chronic diseases such as cancer and others is believed to be the major factor fuelling the growth of tip location device/equipment market. Further, wide usage of tip location device/equipment for the administration of antibiotics, parenteral nutrition and for chemotherapy is also predicted to foster the growth oftip location device/equipment market across the globe.

According to recent study by Research Nester, the Tip Location Device/Equipment Market size is anticipated to surpass USD 48 Mn by 2023 and is projected to expand at CAGR of over 6.4% from 2016 to 2023.

Major players include in the global Tip Location Device/Equipment Market:

  • C.R. Bard Inc.
  • Teleflex Incorporated
  • AngioDynamics Inc.
  • Vygon S.A
  • CORPAK MedSystems
  • FloMedica.

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Growing Demand for advanced Techniques

Increasing number of cases witnessed while catheterization such as hematoma, infiltration, phlebitis or embolism due to malpositioning of catheters during a surgical process. Likely, tip location device/equipment reduces the occurrence of incidences of catheter malpositioning by around 10 % to 16%. This factor is projected to propel the growth of tip location device/equipment market.

On the contrary, presence of other alternatives such as traditional chest X-ray technique and fluoroscopy is anticipated to hamper the growth of tip location device/equipment market.

The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global tip location device/equipment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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About Research Nester:

Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.

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