The Closed System Transfer Device market is expected to witness notable growth owing to the increase in the use of oncology drugs and the emergence of new protocols in the pharmaceutical industry, according to TMR

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.

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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.

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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.

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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.

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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
    • Systems
      • Needle-free systems
      • Needle systems
    • Making up
      • Bottle adapters
      • Syringe adapters
      • Tube sets and accessories
  • Closed System Transfer Device (CSTD) Market, By Application
  • Closed System Transfer Devices (CSTD) Market, By Distribution Channel
    • Direct sales
    • Distributors
  • Closed System Transfer Device (CSTD) Market, By Region
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

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