Intraosseous Devices Market Size is expected to rise significantly between 2022 and 2028 due to the surge in emergency cases, including trauma-related and heart attacks. The spiraling fatality rate on account of the prevalence of cardiovascular diseases has led to the increasing number of government and regulatory approvals. The rising count of military engagements and mounting awareness pertaining to public health will act as significant boosters for the industry dynamics.
Intraosseous devices are emergency medical equipment primarily utilized for delivering fluids and medications during emergencies when venous access is not available or cannot be quickly established. The rise in the number of R&D activities along with the growing technological enhancements will also foster product adoption.
Based on type, the market is bifurcated into manual, semi-automatic, and automatic. Out of these, the semi-automatic segment is anticipated to rise driven by the recent developments and increasing preference over their manual counterparts. These devices are increasingly preferred as they offer relatively fast and easy vascular access. The influx of various innovative devices, like EZ-IO, to offer enhanced utility and safety in pediatric emergency departments will also play a crucial role in fostering market growth.
With respect to end-user, the intraosseous devices market size from emergency medical services (EMS) will grow substantially through 2028 owing to the higher availability of well-equipped and trained medical professionals. The increasing incidences of cardiac arrests, and emergencies, like road accidents, injuries, and trauma have led to the growth in patient population cases. The rising penetration of devices is another ideal factor impacting the segment progression.
North America intraosseous devices market will gain traction with the robust presence of some well-known industry players and their expanding networks in the region. The surging count of emergency and cardiac cases, as well as multiple diseases that need immediate vascular access, has brought a soaring number of medical practitioners and specialized personnel. The booming geriatric population has paved the path for an expanding patient pool and higher prevalence of several diseases. The surging number of R&D activities and rising acceptance of technologically advanced products will additionally foster the regional expansion.
The intraosseous devices market in Asia Pacific is likely to account for a significant revenue share due to the rise in number of R&D activities and fast-growing population. The increasing amount of government initiatives taken in the field of healthcare will also act as a significant driver for market penetration in the region.
The market is highly competitive and comprises the presence of players, like Pyng Medical (Teleflex), Aero Healthcare, Biopsybell, PAVmed, Becton Dickinson, Persys medical, Teleflex Incorporated, and Cook Medical.
Strategic growth initiatives, including partnerships, acquisitions, and mergers, together with novel product developments, innovations, and investments, are actively adopted by these firms for gaining competitive benefits.
For instance, in October 2020, Teleflex received the 510(k) clearance from the U.S. FDA (Food and Drug Administration) for expanding the indications for usage of the Arrow® EZ-IO®, its intraosseous vascular access system.
In another instance, in April 2019, PAVmed Inc. announced that its intraosseous infusion system, PortIO, consisting of an insertion kit and an implantable intraosseous vascular access device, attained a maintenance-free implant duration of around 60 days in pre-clinical animal testing.
The COVID-19 outbreak posed a major setback on the global economy whilst bringing multiple hurdles for numerous businesses. The demand for intraosseous devices, however, saw a noticeable rise during the pandemic to tend to the affected patients, on account of escalating infection rate. The growing acceptance of different intravascular access methods by nurses in simulated pediatric COVID-19 resuscitation also added positive impetus to the market expansion.
Market, By Type,
Market, By End Users
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