The global Intraosseous Infusion Devices Market is poised for substantial growth, driven by the increasing prevalence of chronic conditions, the surge in emergency medical cases, and the impressive success rate of intraosseous devices. The market, valued at USD 829.5 million in 2021, is projected to expand at a CAGR of 5.1 percent during the forecast period.
Factors Driving Growth
The consistent growth of the worldwide intraosseous infusion devices market is attributed to various factors:
- Prevalence of Chronic Conditions: Traumatic injuries, cardiovascular illnesses, obesity, and severe burns have led to an increase in hospitalizations, fueling the demand for intraosseous infusion devices.
- Rise in Emergency Medical Cases: The escalating number of emergency medical cases, especially during the COVID-19 pandemic, has significantly driven the need for quick and efficient infusion methods.
- Success Rate of Intraosseous Devices: The remarkable success rate of over 97% for intraosseous devices has bolstered their adoption in medical settings.
Market Expansion through Procedure Advantages
Intraosseous infusion, a procedure recommended for cases when peripheral venous access fails or for cardiac resuscitation, is expected to drive the markets expansion. As the number of traumatic surgeries and cardiovascular disorders increases, the demand for intraosseous infusion devices is projected to rise.
COVID-19 Impact and Rising Demand for Emergency Care
The COVID-19 pandemic has significantly contributed to the growth of the intraosseous infusion devices market. The surge in emergency medical services required during the pandemic, coupled with the effectiveness of intraosseous devices in providing swift fluid and medication infusion, has increased the demand for these devices. COVID-19 has also highlighted the association between the virus and strokes, emphasizing the importance of prompt medical intervention.
Drivers of Market Growth
- Emergency Healthcare Demand: The need for effective emergency medical services has driven the demand for intraosseous infusion devices. These devices enable swift fluid and medication delivery in critical situations, such as severe burns, accidents, and trauma, where IV access may not be readily available.
- Rising Number of Traumatic Surgeries: An increasing number of traumatic surgeries, especially in children, has boosted the market for intraosseous infusion devices. This trend is expected to continue, further supporting market growth.
Restraints and Challenges
- Side Effects and Overuse Concerns: There is growing concern regarding the overuse of intraosseous procedures without sufficient evidence of their effectiveness. The potential side effects and lack of comprehensive research on rare emergency procedures pose challenges to the markets growth.
Segment Overview
- Automatic Segment Dominates: The automatic segment leads the intraosseous devices market due to its lower chances of error and higher efficiency.
Regional Landscape
- North America Takes the Lead: North America has emerged as the dominant region in the intraosseous devices market due to increased usage in ambulatory and emergency cases. The prevalence of chronic conditions, rising traumatic surgeries, and military applications have contributed to the regions growth.
- Asia-Pacifics Potential: The Asia-Pacific region holds significant growth potential for the intraosseous devices market. The expansion of high-quality medical devices developed in North America to markets like India, coupled with the increasing demand for emergency medical services, is anticipated to drive growth.
Key Players
- Pyng Medical Corp.: Focused on intraosseous devices, the company is expanding its dealer network globally to enhance patient care and access to its products.
- Cook Medical Incorporated: The companys acquisition of Whitaker Park Development Authority Inc. aims to produce intraosseous infusion devices to improve patient care.
Conclusion
The global intraosseous infusion devices market is on a trajectory of rapid growth, driven by the rising demand for emergency healthcare services, the increasing number of traumatic surgeries, and the successful application of intraosseous devices. However, challenges related to evidence-based practices and the potential overuse of these procedures must be addressed to ensure safe and effective patient care.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/intraosseous-infusion-devices-market
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COMTEX_438808623/2840/2023-08-21T09:32:01
