Intraosseous Infusion Device Market is estimated to be 7.2 Billion by 2029 with a CAGR of 7.5% during the forecasted period.
Intraosseous Infusion Device Market accounted for US$ 3.7 billion in 2020 and is estimated to be US$ 7.2 billion by 2029 and is anticipated to register a CAGR of 7.5%.
The report " Intraosseous Infusion Device Market, By Product Type (FAST1 Device, Dieckmann Modified Needle, BIG Device, EZ-IO Device, Jamshidi Needle, FAST Responder, Fastx Device, and NIO), By Technology (Battery Powered Driver, Manual IO Needles, and Impact Driven Devices), By Route Of Administration (Distal Femur, Sternum, Distal & Proximal Tibia, Calcaneus, and Head Of Humerus), By End User (Hospitals, Emergency Medical Services, Ambulatory Surgical Centers, and Cardiac Care Centers), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.
Key Highlights:
· In October 2013, Teleflex Incorporated announced that it has entered into a definitive agreement to acquire privately-held Vidacare Corporation, the leading provider of intraosseous (IO), or inside the bone, access devices.
· On April 3, 2017, Teleflex Incorporated completed the acquisition of Pyng Medical, a medical device company that developed and marketed sternal intraosseous infusion products, which complements the Teleflex Incorporated’s anesthesia product portfolio.
Analyst View:
According to WHO Cardiovascular diseases (CVDs) are the number one cause of death globally, taking an estimated 17.9 million lives each year. Four out of 5CVD deaths are due to heart attacks and strokes, and one third of these deaths occur prematurely in people under 70 years of age. With the increasing cases of cardiovascular diseases, the demand for the fastest and effective treatment is increasing which in-turn has increased the demand for the Intraosseous Infusion device. Therefore, boosting the market.
Trauma and emergency cases are the major reasons for cardiovascular disease and death all over the world. Most of the time during such cases the patients does not have much time and require fast treatment. Intraosseous Infusion have been proven to be the most effective and adapted measure. Despite all the deaths, these emergency cases have been the driving factor for the global intraosseous infusion device market.
Key Market Insights from the report:
The global intraosseous infusion device market accounted for US$ 3.7 billion in 2020 and is estimated to be US$ 7.2 billion by 2029 and is anticipated to register a CAGR of 7.5%. The market report has been segmented on the basis of product type, technology, route of administration, end user, and region.
· Depending upon product type, the FAST Responder segment is projected to grow at highest CAGR over the forecast period due its fast and effective treatment
· Depending upon the technology, the Battery Powered Driver segment is projected to register highest share of the market due to its easy usage and less risk and more accuracy while doing the procedure.
· In terms of route of administration, the Head of Humerus route of administration segment is projected to witness a significant CAGR over the forecast period as they provide a quick, easy to use, and dependable route for administration of all resuscitation and anesthetic drugs.
· By end user, the emergency medical services segment accounted for the majority market share and dominate the market. Pre-hospital emergency care is referred to as emergency medical services (EMS), which is constituted by ambulances or mobile medical services. The high success rates of intraosseous infusion in emergency cases will propel the growth potential of this market’s segment.
· By region, North America dominates the global intraosseous infusion device market in terms of revenue as compared to other regions. The market is boosting in this region due to increased cases of cardiovascular diseases, trauma, vascular related diseases. Further the advancement in the technology, availability of the product and the expert techniques and medical staff are driving the market. The second largest intraosseous infusion device market is in the Asia Pacific region.
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Competitive Landscape:
The prominent player operating in the global intraosseous infusion device market includes include Pyng Medical Corp., Biopsybell, Cook Medical Incorporated, PAVmed, PerSys Medical, Aero Healthcare, Teleflex, Inc., and Becton Dickinson.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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