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.
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Report Scope and Market Segmentation
Report Metric
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Details
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Forecast Period
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2021 to 2028
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Base Year
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2020
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Historic Years
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2019 (Customizable to 2013 - 2018)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Membrane-To Membrane Systems and Needle-Free Closed System Transfer Device), Component (Devices And Accessories), Closing Mechanism (Push-To-Turn Systems, Color-To-Color Alignment Systems, Luer-Lock System and Click-To-Lock Systems), Technology (Diaphragm-Based Devices, Compartmentalized Devices and Air Cleaning/Filtration Devices), End User (Hospitals, Oncology Centers & Clinics, Ambulatory Surgical Centers, Academic and Research Institutes), Distribution Channel (Direct Tender and Retail Sales)
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Countries Covered
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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
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Market Players Covered
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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)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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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.
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.
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
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
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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Global Closed System Transfer Devices Market – Industry Trends and Forecast to 2028
Europe Closed System Transfer Devices Market – Industry Trends and Forecast to 2028
North America Closed System Transfer Devices Market – Industry Trends and Forecast to 2028
Asia-Pacific Closed System Transfer Devices Market – Industry Trends and Forecast to 2028
Middle East and Africa Closed System Transfer Devices Market – Industry Trends and Forecast to 2028