ALBANY, NY, 23 November 2021 / PRNewswire / – The growing adoption of closed system transfer devices in a plethora of drug safety programs, coupled with the increase in the use of oncology drugs, is expected to fuel the growth of the transfer device market in closed system (CSTD). The emergence of several regions as cancer research centers is expected to be a growth accelerator for the closed system transfer devices market during the forecast period 2020-2030.
The Transparency Market (TMR) research has conducted extensive research on various aspects associated with the growth of the Closed System Transfer Devices (CSTD) market. TMR analysts expect the global Closed System Transfer Device (CSTD) market to grow at a CAGR of 10.9% during the forecast period. The market for closed system transfer devices (CSTD) was valued at US $ 764.7 million in 2019 and extrapolated to cross US $ 2.37 billion by 2030.
Request Closed System Transfer Devices (CSTD) Market Research Report Brochure – https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=55230
The growing collaboration between pharmacists and researchers around the world to develop well-defined transfer protocols and standards will help drive demand for systems transfer devices. In addition, the ability of many system transfer devices to restrict contamination of parental drug products offers immense opportunities to enable beyond use (BUD) dating. All of these factors ensure promising growth for the Closed System Transfer Device (CSTD) market. However, to strengthen their position in the Closed System Transfer Devices (CSTD) market, players should focus on expanding their product portfolio.
Request for Analysis of the Impact of COVID-19 on the Closed System Transfer Devices (CSTD) Market – https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=55230
Main conclusions of the report
High need for chemotherapy to increase demand for closed system transfer devices
The incidence of cancer is increasing at an accelerating rate. Chemotherapy is an important part of many cancer treatments. During chemotherapy drugs such as doxorubicin are used. These drugs are harmful to the people who manipulate them. Frequent exposure can lead to hair loss, infertility, birth defects and cancer. In order to ensure complete safety and avoid side effects, safe handling is key. Therefore, this aspect ultimately maximizes the demand for closed system transfer devices.
TMR offers customized market research services that help clients gain insight into their required business scenario when syndicated solutions are not enough, Custom Research Request – https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=55230
North America to dominate the closed system transfer device (CSTD) market
In this study, the Closed System Transfer Devices (CSTD) market has been categorized into five regions: Asia Pacific, Latin America, North America, Europe, and Middle East & Africa. According to TMR, North America is expected to dominate the closed system transfer device (CSTD) market. The exposure of healthcare workers to harmful and toxic drugs has increased dramatically over the years. The Centers for Diseases Control and Prevention (CDC) estimates that about 8 million healthcare workers in North America are exposed to harmful drugs. Thus, these statistics reveal the need for safe drug transfer mechanisms. This factor ultimately helps to increase the growth rate of Closed System Transfer Device (CSTD) market by North America.
Buy Closed System Transfer Devices (CSTD) Market Report – https://www.transparencymarketresearch.com/checkout.php?rep_id=55230
Asia Pacific is also expected to experience steady growth over the forecast period. China could become the largest growth-generating country in the Asia Pacific Region. An increase in the target population requiring treatment and wide use of closed system transfer devices in China should stimulate the market in Asia Pacific.
Some well-established players in the closed system transfer device (CSTD) market are Dickinson and Company, ICU Medical, Inc., Corvida Medical, JMS Co. Ltd., Equashield LLC, and Becton.
Global Closed System Transfer Devices (CSTD) Market: Segmentation
- Closed System Transfer Devices (CSTD) Market, By Product
- Needle-free systems
- Needle systems
- Making up
- Bottle adapters
- Syringe adapters
- Tube sets and accessories
- Closed System Transfer Device (CSTD) Market, By Application
- Feeding with milk
- Closed System Transfer Devices (CSTD) Market, By Distribution Channel
- Direct sales
- Closed System Transfer Device (CSTD) Market, By Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
The modernization of healthcare in terms of infrastructure and services has pushed the healthcare industry to new heights, Stay up to date with Latest research reports on the health industry through the market study on transparency:
Biologics Contract Manufacturing Market: Companies in the Biologics Contract Manufacturing market are entering into multiple collaborations to increase the availability of ublituximab and enable its commercialization. Companies are reassessing their supply needs and ensuring long-term capacity to meet the global demand for oblituximab.
Bioanalytical Services Market: The bioanalytical services market is expected to grow at a CAGR of 8.2% during the forecast period. Pharmaceutical companies are increasing their production capacities in preclinical testing methods, drug safety, etc. with the evolution of directives from international organizations.
Enteral Feeding Device Market: Companies in the Enteral Feeding Device market are intensifying their research on systems consisting of electromechanical device with embedded software and enteral feeding tubes. They are redoubling their efforts to take advantage of the power of electromagnetic technology where the devices create a personalized body map of patients, allowing medical personnel to accurately place the tube into the stomach or small intestine orally or naso-enteric.
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our proprietary blend of quantitative forecasting and trend analysis provides forward-looking information to thousands of decision makers. Our experienced team of analysts, researchers and consultants use proprietary data sources and various tools and techniques to collect and analyze information.
Our data repository is continually updated and reviewed by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analytical capacity, Transparency Market Research uses rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
For more information on research on major industries, visit our YouTube channel and click Subscribe for the future update – https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ
Sir. Rohit Bhisey
Market research on transparency
90 State Street,
Albany NY – 12207
United States – Canada Toll Free: 866-552-3453
E-mail: [email protected]
Follow us: Twitter | LinkedIn
Browse public relations – https://www.transparencymarketresearch.com/pressrelease/closed-system-transfer-device-market.htm
SOURCE Transparency Market Research