Global Intraosseous Devices Market is anticipated to grow at a 5.0% CAGR from 2019 to 2030
Market Industry Reports (MIR) has published a new report titled “Global Intraosseous Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global Intraosseous Devices market was estimated to be over US$ 365 Mn in 2018. It is anticipated to grow at a CAGR of 5.0% from 2019 to 2030.
Rapid rise globally in number of trauma cases, cardiac arrest instances, ageing population, focus on research and development activities, chronic diseases that lead to emergency situations, and the general rise in public health awareness are factors that have boosted the Intraosseous device market. These factors also offer a promising opportunity to the key players in this market to provide solutions for easy, quick and effective modes of vascular access. Value added features proffered by the intraosseous devices are encouraging physicians globally for adopting intraosseous devices. Increase in the instances of emergency situations has prompted the key players in this market to work towards launching intraosseous devices that are technologically advanced, user friendly, have value added features. Increasing approvals by the regulatory bodies, mergers and acquisitions of key players, and a developing product pipeline are anticipated to augment the global intraosseous devices market.
Perpetually Rising Number of Trauma & Emergency Cases
Trauma remains one of the major causes of morbidity and mortality in both developed and developing Nations. According to the World Health Organization report on road safety, Road Traffic Accidents would be the fifth leading cause of death worldwide by the year 2030. According to Institute of Medicine Committee, traumatic injury is the leading cause of death under the age of 45 in the U.S. and worldwide. A majority of trauma and emergency cases warrant quick and efficient administration of life saving drugs to the patient. In such cases intravenous access is not always quickly available for desired infusion of required drugs. Furthermore traditional venous access methods can be time consuming and challenging in critical conditions. Intraosseous devices, in such situations furnish a safe and quick way to administer live saving drugs. Thus, the rising number of trauma and emergency cases is propelling the growth of the intraosseous devices market.
Browse key industry insights spread across 150 pages with market data tables & figures & charts from the report, Global Intraosseous Devices Market by Product Type (Manual, Semi-Automatic, Automatic), End User (Hospitals, Emergency Medical Services (EMS), Military) - Global Analysis & Forecast 2019-2030 in detail along with the table of contents: https://www.marketindustryreports.com/global-intraosseous-devices-market/52
Rise in the Prevalence of Cardiovascular Diseases
There has been a rise in the global prevalence of cardiovascular diseases. According to the World Health Organization (WHO) cardiovascular diseases are the number one cause of death annually. An estimated 17.9 million people died from CVDs in 2016, representing 31% of all global deaths. According to The American Heart Association, Cardiovascular disease (CVD), listed as the underlying cause of death, accounted for 840,678 deaths in the US in 2016, approximately 1 of every 3 deaths. Intraosseous access is achieved through medullary canals in the manubrium of the sternum, humerus, and tibia. These canals are highly vascular as well as non-collapsible, which is a certain advantage in a cases of emergency. In addition, blood flow from the medullary canals enters the central circulation rapidly aiding in dispersing medication in a quick and efficient manner. Since 2005, the American Heart Association (AHA) guidelines for CPR and emergency cardiovascular care have recommended an IO device as a safe and effective alternative to I.V. administration of both medications and fluids. In 2005, the American Heart Association (AHA) and the European Resuscitation Council (ERC) reconsidered their guidelines to incorporate advocating intraosseous infusion access in adults with cardiac arrest when there’s no availability of IV access. The fact that IO devices usually can be placed in less than 90 seconds and have up to a 95% success rate, according to manufacturer studies, makes them valuable critical care devices and are thus expected to fuel the growth of the intraosseous devices.
Extravasation of Medications & Fractures by Insertion
During the usage of Intraosseous devices there have been some contraindications that have been observed. Sometimes due to the force of intraosseous device there are fractures at the insertion site. There also is an extravasation of medications or drugs that are being administered, where the medication accidentally leaks into the surrounding tissues. Some other complications associated with the use of intraosseous devices are infections at the insertion site, restricted use by patients afflicted by hypovolemic conditions, severe osteoporosis, severe bone diseases or prosthetic joints. These are some factors that anticipated to impede the growth of the intraosseous device market.
North America A Major Market Share Holder
North America holds the major share of the global intraosseous devices market. The growth of the market in this region is bolstered by factors such as growing number of cardiac cases, trauma incidences, and various diseases needing instant vascular access. This growth is further fueled by adoption of advanced products, increase in number of medical professionals and trained staff, and the presence of prominent players in these regions. The intraosseous devices market in Asia Pacific is expected to expand at a significant growth rate during the forecast period.
Major Players in the Global Intraosseous Devices Market
The prominent players in the global intraosseous devices market are Teleflex Incorporated, PERSYS MEDICAL, Cook, BD, and Biopsybell, among others.
Market Industry Reports is a global leader in market measurement and advisory services. It is 100% subsidiary of Maniks Systems Pvt Ltd. The firm has always been at the forefront of innovation to address the worldwide industry trends and opportunities.
We offer our clients a unique depth of market intelligence in an actionable format to move their business forward. Our analysis incorporates the consumer study in more than 100 countries that provide a tactical approach to drive the sustained growth for the business. We continue to pioneer state-of the art approach in research & analysis that makes complex world simpler to stay ahead of the curve. By nurturing the perception of genius and optimized market intelligence we bring proficient contingency to our clients in the evolving world of technologies, megatrends and industry convergence. We empower and inspire Vanguards to fuel and shape their business to build and grow world-class consumer products.