Closed System Transfer Devices Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3534
Closed system transfer devices size is expected to grow significantly from 2019 to 2025.
Closed system transfer devices (CSTDs) market is projected to witness significant growth during the forecast timeframe due to growing incidence of cancer coupled with rising number of oncology drug approvals. CSTDs are systems used in medication transmission from one reservoir to another although restraining the possible drug contamination, drug aerosolization, hazardous drug exposure and sharps exposure. Availability of CSTDs that offer enhanced protection from exposure to hazardous vapors during transporting, delivering hazardous drugs and compounding should enhance business growth.
Growing usage of CSTDs to combat hazardous effects of antineoplastic drugs will further foster closed system transfer devices industry growth. Technologically advanced CSTDs have led to user-friendliness along with improvement in design and has provided an advantage over old CSTDs. Aforementioned factors are expected to boost CSTDs market growth over the coming years. However, high cost of CSTDs implementation might hamper business growth.
Membrane-To-Membrane systems segment will grow substantially during the forecast timeline. Growth is attributable to low risk of infection associated with double membrane containment systems. As double membrane system provides an additional layer of shield as compared to needleless membranes that further boosts segmental growth.
Vial access devices segment accounted for significant revenue share in 2018 owing to surging adoption of vial access devices and CSTDs. These are widely used in oncology field to transfer harmful drugs from packaged vials to the patient or into infusion bag. Thus, increasing adoption of vial access devices boosts segmental growth.
Diaphragm-based devices segment is estimated to witness exponential growth over the coming years. Ease in operation and safety provided by diaphragm-based devices coupled with increasing demand for CSTDs should favor business growth.
Hospitals segment held considerable revenue share in 2018 and is projected to witness robust CAGR during the forecast timeline. High cost CSTDs are affordable to hospitals considering financial proficiencies that promotes segmental growth. Moreover, growing prevalence of cancer coupled with increasing awareness among people further accelerates the industry growth.
Asia Pacific closed system transfer devices market will grow significantly during the analysis period on an account of growing demand and rising adoption of CST devices. Furthermore, industry players focusing on emerging economies and development in healthcare infrastructure are factors that render a positive impact on Asia Pacific closed system transfer devices industry growth.
Some of the major industry players operating in the closed system transfer devices industry includes Baxter International, Becton, Dickinson and Company (BD), ICU Medical, B. Braun Medical, JMS North America Corporation, Equashield, Corvida Medical, Yukon Medical and Victus. Business players are emphasizing on R&D and new product launch to fulfil growing consumer demands. Collaboration, partnership and agreement are some of the key strategies adopted by business players to maintain their position in the market. For instance, in January 2018, Baxter International launched Arisure closed system transfer device to aid prevention of hazardous drug exposure and preserve medication sterility. This product assists in safe drug preparation, administration, disposal and transportation. It also helps to reduce risk of accidental contamination or exposure. Arisure launch has expanded Baxter’s product portfolio.
Closed System Transfer Devices Market By Closing Mechanism, 2014-2025 (USD Million)
- Color-to-Color Alignment Systems
- Push-to-Turn Systems
- Luer-Lock Systems
- Click-to-Lock Systems
Closed System Transfer Devices Market By Type, 2014-2025 (USD Million)
- Needleless Systems
- Membrane-to-Membrane Systems
Closed System Transfer Devices Market By Component, 2014-2025 (USD Million)
- Vial Access Devices
- Syringe Safety Devices
- Bag/Line Access Devices
Closed System Transfer Devices Market By Technology, 2014-2025 (USD Million)
- Diaphragm-based Devices
- Air Cleaning/Filtration Devices
- Compartmentalized Devices
Closed System Transfer Devices Market By End-use, 2014-2025 (USD Million)
- Oncology Centers & Clinics
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- B. Braun Medical Inc.
- Baxter International Inc.
- Becton, Dickinson and Company (BD)
- Caragen Ltd.
- Codan Medizinische Geräte GmbH & Co KG
- Corvida Medical
- Equashield LLC
- ICU Medical, Inc.
- JMS North America Corporation
- Yukon Medical
What Information does this report contain?
Customize this Report
Our Market Research Reports Include:
- Market snapshot
- Market Segmentation
- Value Chain Analysis
- Growth Dynamics
- Potential Market Opportunities
- Regulatory Overview
- Technology Evolution
- Innovation & Sustainability
Benefits of Association
Data Coverage & Quality
GMI reports provide the most comprehensive coverage of any focus industry, ensuring a holistic and deep understanding of the market, along with actionable and granular data. We also take pride in our commitment to quality and strive to ensure that our clients get their moneys worth.
Client Trust & Security
GMI maintains strict code of conduct as a business and is committed to ensure that the privacy and trust of our clients are always maintained. As an organization, we also strive to be fully compliant with privacy laws, PCI and information security guidelines.
Our customers rely on us to produce accurate, reliable and timely information. Service orientation is a key mission for us as an organization; our process is guided by the desire to ensure that our clients are provided the best possible solutions in optimal timeframe. GMI stands by its commitment to service, providing timely assistance in both pre-sales and post-sales support for our clients.