Intraosseous (IO) infusion involves injecting medication and fluids directly into the marrow of the bone by which rapid access to the vascular system can be gained. Intraosseous infusion offers several benefits when intravenous (IV) access is not possible and rapid vascular access is necessary. Moreover, any fluid or medication that can be administered through the IV route can be administered through the IO route as well. IO route offers the same or faster rate of drug/fluid administration as compared to IV route, and conditions such as cardiac arrest, arrhythmia, anaphylactic shock, and other commonly occurring medical conditions often require rapid medical attention and therapy administration.
The global intraosseous infusion devices market is estimated to be valued at US$ 916.9 Mn million in 2021 and is expected to exhibit a CAGR of 5.3% during the forecast period (2021-2028).
Figure 1.Global Intraosseous Infusion Devices Market Share (%) in Terms of Value, by Product Type, 2021
Increasing prevalence of cardiovascular disorders is expected to drive the market growth during the forecast period.
The increasing incidences of cardiovascular disorders is expected to drive the market growth during the forecast period. For instance, in 2019, according to the World Health Organization (WHO), it was found that around 17.9 million individuals died from cardiovascular diseases, which is around 32% of the global deaths.
|Base Year:||2020||Market Size in 2021:||US$ 916.9 Mn|
|Historical Data for:||2017 to 2020||Forecast Period:||2021 to 2028|
|Forecast Period 2021 to 2028 CAGR:||5.3%||2028 Value Projection:||US$ 1,317.6 Mn|
PerSys Medical, Aero Healthcare AU Pty Ltd, Teleflex Incorporated, PAVmed Inc., BIOPSYBELL S.R.L., Becton Dickinson Company, Cook Group, SAM Medical, Argon Medical Devices, Inc., Cardinal Health, Inc., StarFish Product Engineering Inc., and Medax SRL unipersonle
|Restraints & Challenges:||
Figure 2.Global Intraosseous Infusion Devices Market Share (%), by Technology, 2021
Increasing technologically advanced product launches is expected to drive the market growth during the forecast period.
The increasing launches of advanced products is expected to drive the market growth during the forecast period. For instance, PAVmed, Inc., a multi-product, commercial-stage technology medical device company, had an implantable intraosseous vascular access device, ‘PortIO’ in the development phase. Moreover, in November 2019, PAVmed completed a pre-clinical animal study of PortIO, which documented an implant duration for over six months without any maintenance. The company secured a pre-submission meeting with the U.S. Food and Drug Administration (FDA) scheduled on January 8, 2020.
Global Intraosseous Infusion Devices Market– Impact of Coronavirus (COVID-19) Pandemic
Supply chain and manufacturing activities in India, Italy, Spain, U.K., and the U.S. have been disrupted due to lockdowns implemented by governments since the past few months, while countries such as Saudi Arabia, UAE, Egypt, and others are facing problems with regards to transportation.
The coronavirus or COVID-19 outbreak that started from Wuhan, China has spread across continents, affecting various industries globally. Supply of key materials has been severely disrupted due to the forced quarantine, and lack of labor and raw materials. As the link between regional warehouses is not smooth, the transportation of raw materials between regions cannot be carried out successfully. This shortage of raw materials and components have affected the supply chain of the global intraosseous infusion devices market.
Moreover, the COVID-19 pandemic has impacted the global economy and in turn, the global intraosseous infusion devices market. Quarantines, traveling constraints, and social distancing measures are likely to lead to a steep decline in business and consumer spending.
Global Intraosseous Infusion Devices Market: Restraint
The major factor that hinders growth of the global intraosseous infusion devices market include presence of variety of alternative infusion options.
Major players operating in the global intraosseous infusion devices market include PerSys Medical, Aero Healthcare AU Pty Ltd, Teleflex Incorporated, PAVmed Inc., BIOPSYBELL S.R.L., Becton Dickinson Company, Cook Group, SAM Medical, Argon Medical Devices, Inc., Cardinal Health, Inc., StarFish Product Engineering Inc., and Medax SRL unipersonle.
The intraosseous route offers immediate vascular access during emergency administration of drugs such as during resuscitation. Intraosseous (IO) access is the most frequently used route for emergency care of children and critically ill infants when IV access cannot be achieved rapidly. Intraosseous infusion uses the rich vascular network of bones to transport drugs and fluids from the medullary cavity to the circulation. The response and distribution of drugs and fluid injected by the intraosseous route appears to be very similar to intravenous injection. The procedure should be limited to emergency situations when intravenous access (including umbilical vein catheterization) cannot be established in a required length of time, usually 2-5 minutes. Moreover, sternal route for IO administration of medication has shown to improve patient outcomes as compared to humeral and tibial IO administration. Furthermore, use of IO infusion in critical settings such as for patients who are obese, hypovolemic, or have poor cardiac output, and in military settings is beneficial. In such patients, administration through the IV route becomes difficult to use.
The key players operating in the market are focusing on growth strategies such as acquisitions, which is expected to boost the growth of the global intraosseous infusion devices market over the forecast period. For instance, in May 2018, PerSys Medical, a company that provides emergency medical devices worldwide, announced the completion of acquisition of MAS Med Global for production of a new smart tourniquet called ADAM. This acquisition is a significant addition to PerSys Medical’s hemorrhage control portfolio.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.