Global Closed System Transfer Device (CSTD) Market

Closed-system transfer devices are defined d as the systems which are used to transfer medication from one reservoir to another while prohibiting the potential for drug aerosolization, drug contamination, and hazardous drug exposure. These devices follow one of two design concepts, using either a physical barrier or an air-cleaning technology in order to prevent the escape of hazardous drugs into the work environment.

Market Drivers

The increase in focus on improving the overall safety of healthcare workers which are responsible for the administration & compounding of hazardous drugs is expected to drive the global closed system transfer devices market growth over the forecast period. Also, the growing production of medicines, higher availability of cytotoxic drugs in the workplace & technological advancements are the factors which are expected to boost the growth of the market.

Furthermore, the increase in approvals for oncological drugs as well as the growing prevalence of cancer are some of the prominent factors responsible for the proliferation of the global closed system transfer device (CSTD) market. Moreover, the increase in new innovation and launch of product will positively influence the market growth. For instance, in January 2018, Baxter International Inc had launched its new Arisure Closed System Transfer device, which comprises several components that work together to help prevent contaminants from entering the intravenous medication delivery system & the escape of hazardous substances out of the system during drug preparation and administration. This device is designed to be easy to use with an emphasis on safety. Arisure Closed System Transfer device includes a closed vial adapter which helps to provide closed access to liquid or powder vials for reconstitution.

Market Restraints

There are some restraints on the closed system drug transfer devices market such as leakage of harmful substance is the major restraint as well as the high implementation cost of the device is another restraining factor which are expected to hamper the market growth. Also, the device’s lack of standards, guidance, and requirements may hinder the market growth. Moreover, the outbreak of COVID-19 is expected to significantly affect the development of the closed system transfer devices (CSTD) during this forecast period.

Market Segmentation

The Global Closed System Transfer Device (CSTD) Market is segmented into type such as Membrane-To-Membrane Systems, and Needleless Systems. The Membrane-To-Membrane Systems segment is anticipated to account for the largest share of the market in 2020.Due to their ease of operation and the lower risk of contamination associated with double-membrane containment systems. On the basis of component market is segmented into Vial Access Devices, Syringe Safety Devices, Bag/Line Access Devices and Accessories. Based on the technology market is segmented into Diaphragm-Based Devices, Compartmentalized Devices, and Air Cleaning/Filtration Devices. The diaphragm-based devices segment accounted for the largest share of the market due to the ease of operation and safety provided by these devices. Also, the market is segmented into end user such as Hospitals, Oncology Centers & Clinics, Others.

Regional Analysis

The Global Closed System Transfer Device (CSTD) Market is segmented into five regions such as such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

The North America is the largest shareholder and is estimated to dominate the market till 2027, due to the development infrastructure, investment in research & development, technology advances, and awareness among the people regarding the Closed System Transfer Device (CSTD) products, and improved researches has propelling the growth of the market. The APAC region is expected to have the notable growth rate due to the factors like the growing cancer research, the increase in prevalence of cancer in developing & underdeveloped countries of the region. Also, the usage of the closed system transfer devices to combat the hazardous drugs in the region & continuous efforts by the public and private organizations anticipated to drive the regional growth.

Key Players

Prominent players in the global closed system transfer devices market includes ICU Medical, Inc., Equashield LLC, Becton, Dickinson and Company, B. Braun Melsungen AG, Yukon Medical, Corvida Medical, Baxter International Inc., Caragen Ltd, JMS CO., LTD., VICTUS, etc.

Market Taxonomy

By Type

• Membrane-To-Membrane Systems
• Needleless Systems

By Component

• Vial Access Devices
• Syringe Safety Devices
• Bag/Line Access Devices
• Accessories

By Technology

• Diaphragm-Based Devices
• Compartmentalized Devices
• Air Cleaning/Filtration Devices

By End User

• Hospitals
• Oncology Centers & Clinics
• Others

By Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

Key Questions Addressed by the Report

• What are the Key Opportunities in Global Closed System Transfer Device (CSTD) Market?
• What will be the growth rate from 2019 to 2027?
• Which segment/region will have highest growth?
• What are the factors that will impact/drive the Market?
• What is the competitive Landscape in the Industry?
• What is the role of key players in the value chain?
• What are the strategies adopted by key players?