Intraosseous Devices Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3930
Intraosseous Devices Market size is expected to grow significantly from 2019 to 2025.
Intraosseous Devices market will witness lucrative growth over the forecast period due to growing prevalence of chronic diseases such as cardiovascular disease, diabetes, trauma injuries and severe burns. According to WHO, in 2016, nearly 17.9 million people died from CVDs that accounts for 31% of deaths worldwide. Intraosseous devices enable vascular access that may otherwise be difficult or impossible due to cardiovascular collapse and environmental challenges. Aforementioned applications of intraosseous devices coupled with its increasing demand will augment industry growth.
Technological advancements in intraosseous devices will enable reliable and rapid emergency vascular access than the conventional techniques available in the market. Industry players are increasingly investing in R&D to develop quality equipment to assist patients. These devices help in shortening the time to access circulatory system in comparison to other techniques that enhances patient outcome. Moreover, increasing geriatric population susceptible to various chronic conditions will surge demand for intraosseous devices, thereby escalating business revenue. However, complexities associated with intraosseous equipment may hamper industry growth to certain extent.
Automatic intraosseous devices segment will witness lucrative growth during the forecast period owning to several advantages associated with it. Launch of superior devices from leading industry players will further render a significant positive impact on segment growth. For instance, Persys medical has launch NIO Adult, an automatic intraosseous device that provides a platform for safe, quick, and easy vascular access in minimum time. Advent of such superior products will augment the segment growth.
Emergency medical services segment will experience robust growth over analysis period owning to increasing road accidents as well as prevalence various chronic diseases. Intraosseous devices can be of great help in emergency cases as they facilitate entry of fluids and medication if intravenous access is not feasible. Furthermore, these devices prove to be safe, reliable, and rapid means of introducing medications and blood products. Aforementioned factors coupled with the availability of advance products and skilled professionals will augment emergency medical services segment growth.
North America intraosseous devices market accounts for significant revenue share in 2018. Robust research and development practices along with widespread awareness towards advance technology will fuel the increasing demand. Moreover, improving regulatory environment, favorable demographic trends such as aging population and rising prevalence of chronic diseases will augment the regional industry growth over forecast timeframe.
Notable industry players operational in intraosseous devices market are Pyng Medical, Teleflex, Persys medical, Cook, Biopsybell, PAVmed, Aero Healthcare and Becton Dickinson. Industry players are implementing various strategic initiatives such as new geographic expansion, new product launch, joint partnerships, acquisitions and mergers to capture higher revenue share. For instance, in March 2019, PAVmed announced that it product PortIO requires no maintenance for around 60 years. Launch of such products will enable company to have quality products that will help it to capture more market share.
Intraosseous Devices Market, By Type, 2014-2025 (USD Million)
Intraosseous Devices Market, By End Users, 2014-2025 (USD Million)
- Emergency Medical services
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Pyng Medical
- Teleflex Incorporated
- Persys medical
- Aero Healthcare
- Becton Dickinson
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