The Increasing Prevalence of Cancer is Anticipated to Boost the Growth of the Closed System Transfer Devices Market

Cancer is one of the most leading health problems globally. It is the primary cause of death in highly developed countries and the second main cause of death in developing countries. The varied improvements of the engineering applications to healthcare technologies also considerably impacted the country's economic growth. Though closed-system transfer devices initially intended only to protect healthcare professionals from exposure during the preparation and administration of hazardous drugs, they later helped reduce surface contamination in oncology settings.

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Data Bridge Market Research analyses that the Global Closed System Transfer Devices Market is expected to reach USD 2,257,886.64 thousand by 2028 from USD 576,350.50 thousand in 2020 growing with the healthy CAGR of 18.7% in the forecast period of 2021 to 2028. The increasing demand for closed system transfer devices across pharmaceutical sector will provide potential opportunities for the market growth in the forecast period.

Increased technological advancements is expected to drive the market's growth rate

The major improvements of the engineering applications to healthcare technologies hugely impacted the economic growth. Closed system transfer devices (CSTD) prevent drug leakage into the environment, protecting several healthcare professionals from potential exposure to the drug being handled. Lately, several clinical studies have assessed and showed the increased safety benefits of CSTD during drug preparation and administration for health care personnel.

For instance,

• B.D. launched the BD PhaSeal system, which helps in preventing microbial ingress and has also been documented in numerous journals to be used as part of a drug vial optimization program to help decrease drug waste

Report Scope and Market Segmentation

Segment Analysis:

Closed system transfer devices market is divided into six notable segments which are by type, component, closing mechanisms, technology, end user and distributional channel.

• On the basis of type, the closed system transfer devices market is segmented into membrane-to membrane systems and needle free closed system transfer device.

The membrane-to-membrane segment of type is anticipated to dominate the closed system transfer devices market

The membrane-to-membrane segment is expected to dominate the global closed system transfer devices with a CAGR of 18.2% in the forecast period of 2021 to 2028 because it is less susceptible to contamination and can be used with existing equipment, unlike needle-free closed system transfer devices.  

• On the basis of components, the closed system transfer devices market has been segmented into devices and accessories. Devices are further segmented into vial access devices, syringe safety devices, bag/line access devices, vented bag spike and others.

The devices segment of component type is anticipated to dominate the closed system transfer devices market

The devices segment is expected to dominate the global closed system transfer devices with a CAGR of 19.0% in the forecast period of 2021 to 2028 because of their high usage and pricing compared to accessories

• On the basis of closing mechanism, the closed system transfer devices market has been segmented into push-to-turn systems, color-to-color alignment systems, luer-lock systems and click-to-lock systems. The click-to-lock systems is expected to dominate the global closed system transfer devices with a CAGR of  19.5% in the forecast period of 2021 to 2028 because of its intuitive system design which requires no assembly of components.
• On the basis of technology, the closed system transfer devices market has been segmented into diaphragm-based, compartmentalized, and air cleaning/filtration devices. The diaphragm-based devices segment is expected to dominate the global closed system transfer devices with a CAGR of 19.3% in the forecast period of 2021 to 2028 because of the increased ease of operation and safety provided by it
• On the basis of end user, the closed system transfer devices market is segmented into hospitals, oncology centers & clinics, ambulatory surgical centers, academic and research institutes and others. The hospitals segment is expected to dominate the global closed system transfer devices with a CAGR of 19.4% in the forecast period of 2021 to 2028 due to its ease of operation and safety. 
• On the basis of distribution channel, the closed system transfer devices market are segmented into direct tender and retail sales. The retail segment is expected to dominate the global closed system transfer devices with a CAGR of 18.9% in the forecast period of 2021 to 2028 as the chances of causing hazards are more inclined to hospitals, and with the help of closed system transfer devices, healthcare professionals can prevent themselves from exposure to hazardous drugs.

Major Players

Data Bridge Market Research recognizes the following companies as the major closed system transfer devices market players in closed system transfer devices market are B. Braun Medical Inc. (U.S.), ICU Medical, Inc (U.S.), B.D. (U.S.), Corvida Medical (U.S.), YUKON MEDICAL (India), Caragen Ltd.(Ireland)., Baxter (U.S.), JMS North America Corporation (U.S.), Vygon (France), Epic Medical Corporation (Italy).

Market Development

• In 2021, Simplivia was awarded by the U.S. FDA product code ONB for Chemfort, its latest closed-system drug transfer device. It will help to prevent fluids, droplets, and aerosols from escaping, successfully decreasing the exposure of healthcare personnel to chemotherapy agents.
• In 2019, ICU Medical, Inc. and Scripps Health had signed an agreement describing the long-term purchase agreement which cover ICU Medical's full line of IV solutions and consumables, along with the Plum 360 infusion system with ICU Medical MedNet IV medication safety software.
• In 2019, EQUSHIELD partnered with Leaf Medical LTD to distribute its manual and automated Closed System Transfer Device solutions for safe compounding and administration of hazardous drugs

 Regional Analysis

Geographically, the countries covered in the closed system transfer devices market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

As per Data Bridge Market Research analysis:

North America is the dominant region in closed system transfer devices market during the forecast period 2023 to 2030

North America dominates the closed system transfer devices market because of the increased use of this type, as it provides a faster and more efficient way of administering vaccines. Furthermore, the U.S. dominates the North America region due to stringent medical regulations for hazardous drug safety in the region. 

Asia-Pacific is estimated to be the fastest-growing region in closed system transfer devices market the forecast period 2023 to 2030

Asia-Pacific is expected to grow from 2023 to 2030 because of the country's advanced healthcare infrastructure and research activities associated with oncology treatment. China dominates the Asia Pacific region because of the country's medical research and technology advancement.

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