The intraosseous infusion devices market is predicted to be worth US$ 4.4 billion in 2023, rising to US$ 8.6 billion by 2033. During the projected period, sales of intraosseous infusion devices are expected to expand at a substantial CAGR of 6.9%.
The increasing number of emergency cases has been propelling the market growth. These cases include strokes, seizures, burns, sudden breathing difficulty, and other health concerns where the use of intraosseous infusion devices is of immense need. Intraosseous infusion devices come into practice when intravenous entry points are unavailable and so treatment is provided through an entry point on the bone marrow.
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Intravenous fluid and drug administration is a prime choice in the normal medical procedure as they are comparatively economic and less painful than intraosseous infusion. However, demand for intraosseous infusion is expected to increase on the back of the rise in the need for rapid and high volume infusions during an emergency.
According to a 2015 American Heart Association report compiled with data from the Centers for Disease Control and Prevention, the National Institutes of Health, and other government sources, cardiovascular disease is the leading cause of death globally, accounting for 17.3 million deaths per year and expected to rise to 23.6 million by the end of 2030.
Defibrillation is the primary resort for cardiac arrest for resuscitation on the failure of which titrated adrenaline is administered through the sternum using an intraosseous infusion device. The rising prevalence of cardiovascular disorder is expected to fuel the demand for IO infusion device market
Healthcare companies are constantly collaborating with healthcare professionals, healthcare service providers, and hospitals to improve quality care for the patients. Thus, delivering high quality care together with advanced technologies, which will further drive the overall market in the forecast period.
June 1, 2020, Becton, Dickinson and Company, acquired acquisition of Straub Medical AG which develops and sells medical atherectomy and thrombectomy devices that treat peripheral arterial disease (PAD) and venous disease. This helped BD explore advancing technologies driving the market.
To increase revenue share, the hospitals are focusing on increasing investment in research and development. It is thus, expected for market players to enjoy the lucrative growth of the investing in intraosseous infusion market in the forecast period.
Such developments not only strengthen the company’s existing portfolio but also help to increase their presence at the regional as well as global level, and help companies to sustain the increasing competitive pressure.
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Key Takeaways from Intraosseous Infusion Devices Market Study
- By product, EZ-IO holds the maximum share of 21.4% in the market in 2021, expanding at 7.6% CAGR during the forecast period.
- By route of administration, the sternum segment will account for 30.8% of the market share in 2021, indicating the highest demand.
- By technology, the automatic segment will account for more than 50% of the market share in 2021.
- By end user, EMS centers and Hospitals together account for more than 60% of the market share in 2021.
- By region, North America holds the largest share of 26.6% of the global intraosseous infusion devices market in 2021.
“Increasing demand in improving standards of pre-hospital emergency care settings will boost the intraosseous infusion devices market over the decade. Growth will continue as market players focus on automation to improve the overall quality of devices,” says a FMI Analyst
Who is winning?
Some of the leading companies operating in the intraosseous infusion device market are focusing on product launch, collaboration, and partnership strategies.
Cook Medicals: Every medical discipline we support shares two fundamental themes: Patients who wish to improve their health and professionals who seek tools that are easier to use. As a result, we devote significant resources to designing, manufacturing, and delivering a differentiated range of minimally invasive medical devices to healthcare systems worldwide.
Becton Dickinson and Company: With a product line that fulfils the needs of patients, we want to increase physician satisfaction while also assisting hospitals and surgery centres in improving results and lowering expenses. BD has refined surgical instruments and led to improved results for more than a century. has a substantial portfolio and a track reputation for offering products of the highest grade.
The key market players covered by FMI include
- Pyng Medical Corp.
- Biopsybell
- Cook Medical Incorporated
- PAVmed
- PerSys Medical
- Aero Healthcare
- Teleflex, Inc.
- Becton Dickinson and Company
- SAM Medical
- Cardinal Health, Inc.
Intraosseous Infusion Devices – Market by Category
Product:
- B.I.G
- FAST1
- EZ-IO
- FASTR
- IO Needles
- Others
By Route of Administration:
- Sternum
- Distal & Proximal Tibia
- Distal Femur
- Calcaneus
- Head of Humerus
By Technology:
- Manual
- Automatic
- Impact Driven
- Power Drill
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