Global Closed System Transfer Devices Market Size To Worth USD 3.35 Billion By 2033 l CAGR of 9.93%
Category: Automotive & TransportationGlobal Closed System Transfer Devices Market Size To Worth USD 3.35 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Closed System Transfer Devices Market Size is to Grow from USD 1.3 Billion in 2023 to USD 3.35 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 9.93% during the projected period.
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Browse key industry insights spread across 260 pages with 110 Market data tables and figures & charts from the report on the "Global Closed System Transfer Devices Market Size, Share, and COVID-19 Impact Analysis, By Type (Membrane-To-Membrane Systems and Needleless Systems), By Component (Bag Spikes, Male Luers, Female Components, Vial Access Devices, and Others), By Closing Mechanism (Click-To-Lock Systems, Color-To-Color Alignment Systems, Luer-Lock Systems, and Push-To-Turn Systems), By End User (Hospitals & Clinics, Oncology Centers, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/closed-system-transfer-devices-market
Specialized medical equipment known as closed system transfer devices (CSTDs) is made to properly handle and dispense hazardous medications, especially those used in chemotherapy and oncology. These devices minimize the possibility of contamination and offer a closed conduit for the delivery of pharmaceuticals, protecting medical personnel from exposure to hazardous materials. A closed system transfer device is a device that is used to transfer medication in a way that prevents impurities or pollutants from the atmosphere from entering a system. It is also known as a closed-system drug transfer device. This closed-system transfer equipment is said to preserve the quality of the solution that can be infused into a patient by preventing the uncontrolled input and outflow of contaminants and medications. Rising cancer rates are a primary factor driving the growth of the closed system transfer devices market globally. One of the most popular treatments for cancer is chemotherapy, which increases the need for CSTDs to transfer or administer antineoplastic chemicals. This might be dangerous for medical personnel. Patients and their family might be affected by surface pollution while receiving chemotherapy, in along with medical staff. As a result, it is anticipated that the number of cancer patients worldwide will increase the usage of chemotherapy. However, a major barrier to the widespread usage of closed system transfer devices is their high cost. Lack of funding and healthcare personnel's ignorance of the dangers of handling hazardous drugs are two main barriers to CSTD adoption that might impede the expansion of the closed-system transfer device industry.
The membrane-to-membrane systems is anticipated to hold the greatest share of the global closed-system transfer devices market during the projected timeframe.
Based on the type, the global closed-system transfer devices market is divided into membrane-to-membrane systems and needleless systems. Among these, membrane-to-membrane systems is anticipated to hold the greatest share of the global closed-system transfer devices market during the projected timeframe. Membrane-to-membrane systems use a double-membrane structure, generating a strong barrier that stops dangerous medications and pollutants from escaping. This design lowers the possibility of exposure to hazardous materials while ensuring optimal safety for patients and healthcare personnel during medication preparation and delivery.
The vial access devices segment is anticipated to hold the greatest share of the global closed system transfer devices market during the projected timeframe.
Based on the component, the global closed system transfer devices market is divided into bag spikes, male luers, female components, vial access devices and others. Among these, the vial access devices segment is anticipated to hold the greatest share of the global closed system transfer devices market during the projected timeframe. The typical pharmaceutical delivery tools used in healthcare settings, such as syringes, IV bags, and infusion pumps, are compatible with arterial access devices.
The luer-lock segment is anticipated to hold the greatest share of the global closed system transfer devices market during the projected timeframe.
Based on the closing mechanism, the global closed system transfer devices market is divided into click-to-lock systems, color-to-color alignment systems, luer-lock systems and push-to-turn systems. Among these, the luer-lock systems segment is anticipated to hold the greatest share of the global closed system transfer devices market during the projected timeframe. Luer-lock systems are designed to be universally compatible with various medical devices, including syringes, IV catheters, and infusion sets. This compatibility allows healthcare professionals to use luer-lock CSTDs seamlessly with existing equipment and workflows, minimizing the need for additional investments or modifications.
The hospitals & clinics segment is anticipated to hold the greatest share of the global closed system transfer devices market during the projected timeframe.
Based on the end user, the global closed system transfer devices market is divided into hospitals & clinics, oncology centers, and others. Among these, the hospitals & clinics segment is anticipated to hold the greatest share of the global closed system transfer devices market during the projected timeframe. Many dangerous medications, such as chemotherapy and other strong prescriptions, are handled by hospitals and clinics. In various healthcare settings, there is a demand for CSTDs due to the requirement to guarantee safe handling procedures and reduce the danger of exposure to hazardous compounds.
North America is expected to hold the largest share of the global closed system transfer devices market over the forecast period.
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North America is expected to hold the largest share of the global closed system transfer devices market over the forecast period. Strict regulatory requirements exist in North America, especially in the US, for handling hazardous medications. One such regulation is the usage of CSTDs in healthcare settings. The high frequency of cancer in North America makes the regular use of chemotherapy medications necessary. In oncology settings, the desire to reduce the dangers involved in handling hazardous pharmaceuticals feeds demand for CSTDs in the region.
Asia Pacific is predicted to grow at the fastest pace in the global closed system transfer devices market during the projected timeframe. Important companies from Asia and Pacific have contributed to the industry's growth in the region throughout the projection years. Also, the region's sector can increase due to improvements in healthcare facilities and a jump in the amount of money major product manufacturers invest in R&D initiatives to introduce new, useful items.
Major vendors in the global closed system transfer devices market include Becton, Dickinson and Company, B. Braun Melsungen, Baxter International, Corning Incorporated, Vygon SA, Victus, West Pharmaceuticals Services, Yukon Medical, Corvida Medical, Cardinal Health, CODAN Medizinische Geräte GmbH & Co KG, Caragen, Equashield, ICU Medical, JMS, Practivet, Simplivia Healthcare, Terumo Corporation, Others.
Recent Developments
- In October 2023, EQUASHIELD LLC. (US) Syringe Unit received additional FDA clearance for full-volume use. This approval results in a cost-effective solution for medication compounding & administrating requirements.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global closed system transfer devices market based on the below-mentioned segments:
Global Closed System Transfer Devices Market, By Type
- Membrane-To-Membrane Systems
- Needleless Systems
Global Closed System Transfer Devices Market, By Component
- Bag Spikes
- Male Luers
- Female Components
- Vial Access Devices
- Others
Global Closed System Transfer Devices Market, By Closing Mechanism
- Click-To-Lock Systems
- Color-To-Color Alignment Systems
- Luer Lock Systems
- Push-To-Turn Systems
Global Closed System Transfer Devices Market, By End User
- Hospitals & Clinics
- Oncology Centers
- Others
Global Closed System Transfer Devices Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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