Intraosseous Devices Market Analysis: Growth Challenges, Opportunities
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Intraosseous Devices Market Prominent Players
The prominent players in the global intraosseous devices market are Teleflex Incorporated, PERSYS MEDICAL, Cook, BD, and Biopsybell, among others.
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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 substantial CAGR from 2019 to 2030.
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.
Based on the types, the Intraosseous Devices market has been further classified based on geography, application and consumption capability. On the basis of the product application, the industry is bifurcated taking into consideration those in demand and are an outcome of technology advancement. Region-wise, the performance of the industry along with the prominent vendors operating in the geography also illuminates stakeholders, business owners, and field marketing, executives. The different facets of the business based on parameters including new launches, acquisition and mergers and new entrants are discussed extensively during the study.
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Rise in the Prevalence of Cardiovascular Diseases
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.
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.
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