LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global intraosseous infusion devices market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The research study by Technavio on the global intraosseous infusion devices market for 2017-2021 provides a detailed industry analysis based on product type (automatic and manual), end-user (hospitals, pre-hospital emergency care, and military care), and geography (the Americas, EMEA, and APAC).
Intraosseous infusion devices are primarily used in medical emergencies to provide an easy and rapid flow of fluids, drugs, and medication through the bone marrow. The global intraosseous infusion devices market size is projected to grow to USD 439.8 million by 2021, at a CAGR of close to 5% over the forecast period.
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The top three emerging trends driving the global intraosseous infusion devices market according to Technavio healthcare and life sciences research analysts are:
- Growing use of intraosseous infusion devices in pediatric cases
- Growing adoption of automatic intraosseous access devices
- Use of product bundling strategy
Growing use of intraosseous infusion devices in pediatric cases
“Intraosseous infusion devices have become very safe and efficient while rapidly providing passage for medication and other fluids to the patient. These advances have paved the way for their use in pediatrics as well,” says Barath Palada, a lead analyst at Technavio for orthopedics and medical devices research.
To meet the demand from the pediatric segment, vendors are providing the EZ-IO needle in different gauges suitable for the younger patients. Both automatic and manual intraosseous needles are used by this sector, making way for quick intravascular infusion access.
Growing adoption of automatic intraosseous access devices
Automatic intraosseous needles are becoming increasingly popular due to the innovative features that provide appropriate access, space, depth, and high maneuverability. Also, automatic intraosseous access devices are user-friendly, compact, safe, reliable, provide high flow rates, and suitable for use in extreme conditions. For instance, BIG - the world's first automatic intraosseous infusion device, can establish access in less than 60 seconds. These features and characteristics of automatic intraosseous infusion devices will boost the market growth.
Use of product bundling strategy
“Various vendors in the intraosseous infusion devices market are adopting the product bundling strategy to overcome acquisition related costs, increase profits and product awareness, and encourage their increased use in healthcare centers,” says Barath.
Products such as infusion needles, hypodermic needles, surgical sets, and trays containing infusion devices are bundled together and sold at a lower price point to attract more customers. This strategy is gaining popularity in the healthcare sector since it allows vendors to sell multiple products together and helps reduce product compatibility complications, thereby increasing product penetration and driving market growth.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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