Market Analysis
The worldwide closed system drug transfer device (CSDT) market is projected to touch USD 6,312.52 million at a 19.10% CAGR between 2018-2025, states the new Market Research Future (MRFR) report. A closed system drug transfer device simply put is a device which mechanically limits the outflow of vapor concentrations or hazardous drug outside the system at the time of the reconstitution and administration of the drug and the inflow of environmental contaminants. It allows the transfer of drugs sans, exposing the same to healthcare experts handling harmful drugs. In fact, it is extremely useful to transfer cytotoxic chemotherapeutic drugs and agents such as cancer-treating drug, antineoplastic.
Numerous factors are adding to the growth of the global closed system drug transfer device market. These factors, according to the latest Market Research Future report, include rising incidence of cancer, rising use of CSTDs for combating harmful effects of antineoplastic or cytotoxic drugs, rising number of approvals of oncology drugs, and need to prevent chromosomal abnormalities among physicians and their staff.
On the contrary, inadequate product efficiency, coupled with a lack of comprehensive guidelines, especially in emerging nations, are factors that may impede the global closed system drug transfer device market during the forecast period.
Market Segmentation
The Market Research Future report provides a complete segmental analysis of the global closed system drug transfer device market based on end user, delivery, and type.
By type, the global closed system drug transfer device market is segmented into barrier-type and filtration-type. Of these, the barrier-type segment will have the largest share in the market during the forecast period.
By delivery, the global closed system drug transfer device market is segmented into closed syringe safety devices, closed vial access devices, and closed bag/line access devices. Of these, the closed bag/line access devices will dominate the market during the forecast period.
By end users, the global closed system drug transfer device market is segmented into hospitals and clinics, specialty centres, and others (research & academic institutions and research laboratories). Of these, specialty centres will lead the market during the forecast period.
Regional Analysis
By region, the global closed system drug transfer device market report covers the latest trends and growth opportunities across the Americas, Europe, the Asia Pacific, and the Middle East and Africa. Of these, the Americas will command the largest share in the market during the forecast period. Numerous factors are adding to the growth of the closed system drug transfer device market in the region such as the increasing prevalence of cancer, increasing funding support for encouraging R&D infrastructure, advances in technology in the healthcare sector, and increasing awareness about closed system drug transfer devices. Moreover, increasing geriatric population, huge patient pool in the region undergoing cancer treatments, increase in research activities, developed healthcare infrastructure, and presence of key market players in the region are also adding to the market growth. Canada and the US are the leading market players in the region for the increasing adoption of CSTDs.
The worldwide closed system drug transfer device (CSDT) market in Europe will have healthy growth during the forecast period. Numerous factors are adding to the growth of the closed system drug transfer device market in the region, such as the presence of top pharma companies in the region, expanding life science industry, and flourishing medical device market. The region’s resurging economy plays a pivotal role in the growth of the market, enabling the expansion of the healthcare industry. Moreover, increasing investment in the development of a closed system drug transfer device is also adding to the market growth.
The worldwide closed system drug transfer device (CSDT) market in the APAC region will develop at a quick pace during the forecast period for the various investments made by new market players, rising incidence of cancer, initiatives undertaken by the government for encouraging the practices of safe drug handling in China, and India, rapidly developing healthcare technology, and growing need for quality devices in biotechnology.
The global closed system drug transfer device (CSDT) market in the MEA will have stable growth during the forecast period.
Key Players
Notable players profiled in the global closed system drug transfer device market report include Equashield LLC (US), ICU Medical Inc. (US), Yukon Medical (US), Corvida Medical (US), Dickinson and Company (US), Becton, and Teva Pharmaceutical Industries Ltd. (Israel).
Industry News
October 2019: Leading CSTD (closed system transfer devices) provider Equashield will introduce its automated and manual CSTD solutions in Netherlands with the help of direct sales channels.
January 2019: OnGuard CSTD from the renowned brand B. Braun has qualified as an efficient barrier for vapor release that is based on the NIOSH Draft Universal Protocol.
Read More @ https://www.marketresearchfuture.com/reports/closed-system-drug-transfer-device-market-7733
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