Closed System Drug Transfer Device (CSTD) Market Segmentation by End-Users (Academic & Research Institutes, Hospitals & Clinics, Oncology Centers, and Others); by Type (Needleless System, and Membrane-To-Membrane System); and by Technology (Air filtration, Compartmentalized, and Diaphragm-Based Devices)-Global Demand Analysis & Opportunity Outlook 2031

Global Closed System Drug Transfer Device (CSTD) Market Highlights Over 2022 - 2031

The global closed system drug transfer device (CSTD) market is estimated to grow at a CAGR of ~20% over the forecast period, i.e., 2022 – 2031. The market registered a revenue of approximately USD 553.0 Million in 2021. The growth of the market can be attributed to the increase in the use of antineoplastic drugs for the treatment of cancer that are hazardous in nature. Furthermore, there has been an increase in the cases of cancer for which closed-system drug transfer devices are used for the transfer of drugs into patients in a controlled manner. According to the International Agency for Research and Cancer, cancer new cases rose to 19.3 million and accounted for 10.0 million deaths in 2020. Moreover, there is a need to comply with the health and safety standards of healthcare workers, which is also expected to drive the growth of the market in the coming years.

GET A SAMPLE COPY OF THIS REPORT

The global closed system drug transfer device (CSTD) market is segmented by end-users into academic & research institutes, hospitals & clinics, oncology centers, and others, out of which, the hospitals & clinics segment is expected to hold the largest share over the forecast period in the global closed system drug transfer device (CSTD) market. This can be attributed to the better financial capability of hospitals for CSTD purchasing and the requirement to follow the statutory guidelines by the regulatory system. Moreover, there is a presence of a large number of cancer patients in hospitals for treatment, which is also expected to drive the growth of the segment in the coming years.

Global Closed System Drug Transfer Device (CSTD) Market Regional Synopsis

Regionally, the global closed system drug transfer device (CSTD) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. On the strength of advanced healthcare infrastructure and medical facilities, the market in the North America region is expected to hold the largest share over the forecast period. Moreover, the market in the Asia Pacific region is estimated to hold noteworthy growth over the forecast period on the back of an increase in the population base and a rise in cancer cases. According to the World Health Organization, 80 percent of cervical cancer happen in developing countries. Moreover, as per the World Bank, the China population has increased from 667,070,000 in 1960 to 1.41 billion in 2020.

Market Segmentation

Our in-depth analysis of the global closed system drug transfer device (CSTD) market includes the following segments:

By End-Users

• Academic & Research Institutes

• Hospitals & Clinics

• Oncology Centers

• Others

By Type

• Needleless System

• Membrane-To-Membrane System

By Technology

• Air filtration

• Compartmentalized

• Diaphragm-Based Devices

Growth Drivers and Challenges Impacting the Growth of the Global Closed System Drug Transfer Device (CSTD) Market

Growth Drivers

• Increase in the use of antineoplastic drugs

• Need to comply with the health and safety standards

Challenges

• High costs of CSTD

• Lack of awareness among healthcare workers

Key Companies Dominating the Global Closed System Drug Transfer Device (CSTD) Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global closed system drug transfer device (CSTD) market that are included in our report are Becton, Dickinson and Company, EquashieldMedical Ltd., Corvida Medical, Baxter International, Inc., ICU Medical, Inc., Caragen Ltd, Yukon Medical, Vygon, Simplivia Healthcare Ltd., Teva Pharmaceutical Industries Ltd., and others.

Latest Developments in the Global Closed System Drug Transfer Device Market:

• 6 January 2022:  ICU Medical announced the acquisition of Smiths Medical a subsidiary of Smiths Group plc. The Smith business involves vascular access, vital care products, syringe and ambulatory infusion devices.

• 11 January 2018: Baxter International, Inc., introduced Arisure Closed System Transfer Device to prevent the dangerous drug exposure and preserve medication sterility.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

.