North America Closed System Transfer Devices Market, By 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), Country (U.S., Canada And Mexico) Industry Trends and Forecast To 2028.
North America closed system transfer devices market is expected to gain significant growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyzes that the market is growing with a CAGR of 19.3% in the forecast period of 2021 to 2028 and is expected to reach USD 1,286,761.34 thousand by 2028. Technological advancements in the delivery of effective healthcare service is boosting the market.
Closed system transfer device or "CSTD" is a drug transfer device, which mechanically prohibits the transfer of environmental contamination in medical system and escape of hazardous drug or vapor concentrations outside the system. Open versus closed systems are commonly applied in medical devices to maintain the sterility of a fluid pathway. CSTDs work by preventing the uncontrolled inflow and outflow of contaminants and drugs, preserving the quality of solution to be infused into a patient. These devices ensure safety of healthcare workers during the usage of hazardous drugs or chemicals. Closed system transfer device designs and models have changed at a rapid rate in the recent years, resulting in the development of a number of independent testing methodologies to assess closed system transfer device performance. Currently, manufacturers in the closed system transfer devices market are focusing more on adhering to performance requirements, which largely focus on patient safety and sterile practices.
Rise in safety concerns of healthcare workers is the major driving factor in the market. Shortage of skilled personnel in healthcare sector can prove to be the major challenge for market growth. However, extensive research funding projects from government in safe handling of drugs prove to be an opportunity for the market. On the other hand, lack of compatibility between the biologic and construction material of the CSTDs is expected to restrain the growth of the market. In addition, challenges faced due to the impact of Covid-19 on supply chain of raw materials are expected to further limit market growth.
The closed system transfer devices market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the closed system transfer devices market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
North America closed system transfer devices market is segmented on the basis of type, component, closing mechanism, technology, end user, and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the North America closed system transfer devices market is segmented into membrane-to membrane systems and needle-free closed system transfer device. In 2021, membrane-to-membrane systems sub-segment is dominating the type segment as it is widely used in existing popular closed system transfer devices. Also it is less prone to contamination and can be used with existing equipment unlike needle-free closed system transfer devices. .
- On the basis of component, the North America closed system transfer devices market has been segmented into devices and accessories. In 2021, devices segment is expected to dominate the market as devices are major components of closed systems supported by their accessories. Also, devices are widely used and generate more revenue in the market.
- On the basis of closing mechanism, the North America closed system transfer devices market has been segmented into push-to-turn systems, color-to-color alignment systems, luer-lock system, and click-to-lock systems. In 2021, click-to-lock segment is expected to dominate the market because it is comparatively more effective and simpler to use than other mechanisms. That’s why it is widely used in most of the popular closed system transfer devices in the market.
- On the basis of technology, the North America closed system transfer devices market has been segmented into diaphragm-based devices, compartmentalized devices, and air cleaning/filtration devices. In 2021, diaphragm-based devices segment is expected to dominate the market because its sealing capability is more effective when compared with other technologies. Also, it does not require any additional accessories for administrating the solutions directly to patient through syringe unlike other technologies.
- On the basis of end user, the North America closed system transfer devices market is categorized into hospitals, oncology centers & clinics, ambulatory surgical centers, academic and research institutes. In 2021, hospital segment is expected to dominate the market as medical regulatory bodies in North America have made compulsion regarding usage of closed system transfer devices in hospitals to ensure the safety of healthcare workers while dealing with hazardous drugs for different treatments. This is fueling the growth in usage of CSTDs in hospitals to a great extent.
- On the basis of distribution channel, the North America closed system transfer devices market ais segmented into direct tender and retail sales. In 2021, retail segment is expected to dominate the market as most of manufacturers as the investment required to establish direct sale infrastructure is quiet more than retail sales channel..
The North America closed system transfer devices market is analyzed and market size information is provided based on country, type, component, closing mechanism, technology, end user, and distribution channel as referenced above.
Countries covered in the North America closed system transfer devices market report are the U.S., Canada, and Mexico. The U.S. dominates the market because of stringent medical regulations for hazardous drug safety result in higher demand in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Asia Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Increasing Number of Oncology Drug Approvals is Boosting the Market Growth of Closed System Transfer Devices Market.
North America closed system transfer devices market also provides you with detailed market analysis for every country growth in particular market. Additionally, it provides the detail information regarding the market players’ strategy and their geographical presence. The data is available for historic period 2010 to 2019.
Competitive Landscape and Closed System Transfer Devices Market Share Analysis
Closed system transfer devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to North America closed system transfer devices market.
Major companies operating in the closed system transfer devices market are ICU Medical, Inc., BD, B. Braun Medical Inc., Baxter, EQUASHIELD, Corvida Medical, YUKON MEDICAL, JMS North America Corporation, Vygon, Epic Medical, and others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many contracts and agreements are also initiated by the companies worldwide which are further accelerating the growth of the North America closed system transfer devices market.
- In April 2019, ICU Medical, Inc. and Scripps Health signed an agreement stating the long-term purchase agreement which covers ICU Medical’s full product line of IV solutions and consumables, along with other medication software. With this, there is an increased level of clinical and IT diligence that Scripps Health performed to evaluate the technology and capabilities as part of their robust value analysis process. This will also help the company to provide highest standard of patient care with advanced technology and solutions.
- In January 2018, Baxter announced a distribution agreement for the U.S. launch of the Arisure Closed System Transfer device for preventing contaminants from entering the delivery system and the escape of hazardous substances out of the system while handling. This device also helps to address multiple concerns of both healthcare professionals and patients, helping ensure safer drug preparation. With this, the company helped hospitals to comply with professional standards for safe handling of hazardous drug, thereby making a global footprint in expanding access to healthcare.
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