New York, The global closed system transfer devices market was valued at USD 914.0 Million in 2021 and it is anticipated to grow at 18.1% CAGR during the forecast period to reach up to USD 4834.1 Million by 2031.
Global Closed System Transfer Devices Market report from Global Insight Services is the single authoritative source of intelligence on Closed System Transfer Devices Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
A closed system transfer device or “CSTD” is a drug transfer device, which mechanically restricts the transfer of environmental contamination in the medical system and the 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- uncontrolled inflow and outflow of contaminants and drugs, preserving the quality of the solution to be infused into a patient
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Market Trends and Drivers
The key factors such as rising use of CSTDs to combat the harmful effect of cytotoxic and antineoplastic drugs. Antineoplastic drugs are widely used in the treatment of cancer and are considered hazardous drugs. Healthcare workers involved in the preparation, transport, distribution, administration (pre and post-administration), and disposal of these drugs are at extremely high risk. The National Institute for Occupational Safety and Health (NIOSH) recommends the use of CSTDs to eliminate the harmful effects caused by exposure to hazardous substances that escape out of the system during drug preparation and administration. CSTDs act as a barrier and prevents the entry of contaminants prevent the transfer of contaminants from the atmosphere to a sterile environment. Due to these advantages, CSTDs are increasingly being used in healthcare facilities to combat the harmful effects of hazardous drugs.
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Global Closed System Transfer Devices Market Segmentation
The report analyses the global closed system transfer devices market based on closing mechanism, type, component, end user, and region.
Global Closed System Transfer Devices Market by Closing Mechanism
Based on the closing mechanism, it is segmented into the push to lock system, click to lock system, Luer lock system, and color to color alignment system. Color to color alignment system is likely to dominate the market during the forecast period. Owing to its unique structure that prevents leaks, spills, or the escape of vapors and aerosols. These devices equalize the pressure within the system when fluids are withdrawn or injected into vials. Additionally, the low cost of this system, along with its advantages, increased its adoption among pharmacists, oncologists, and nurses.
Global Closed System Transfer Devices Market by Component
Based on component, it is segmented into vial access devices, syringe safety devices, bag/line access devices, and accessories. The vial access devices segment is estimated to dominate the market during the forecast period. The key factors such as rising adoption of CSTDs products and vial access device by oncology nurses to transfer hazardous drugs from packaged vials to the infusion bag or the patient.
Global Closed System Transfer Devices Market by End User
Based on end user, it is segmented into hospitals & clinics, oncology centers, and other end users. The hospitals & clinics segment is likely to dominate the market during the forecast period. The large share and high growth of this segment are primarily owing to the strong financial capabilities of hospitals for purchasing high-priced CSTDs, the large cancer patient pool, and the need to comply with regulatory guidelines.
Geographical Analysis of Closed System Transfer Devices Market
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America is likely to dominate the market during the forecast period. The key factors such as easy accessibility to advanced technologies, high awareness about CSTD among oncologists, nurses, and pharmacists, and the presence of many CSTD manufacturing players in the region coupled with high incidences of cancer.
Major Players in Closed System Transfer Devices Market
The key players in the closed system transfer devices market are B. Braun Holding GmbH & Co. KG, Baxter International, Becton, Dickinson and Company, Caragen Ltd, Corvida Medical, Equashield, FIMI Opportunity Funds (Simplivia Healthcare), ICU Medical, JCB Co Ltd. (JMS Co Ltd.), Yukon Medical.
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