Request Discount

Closed System Drug-transfer Devices Market (Type - Membrane-to-membrane Systems, and Needleless Systems; Component - Vial Access Devices, Syringe Safety Devices, Bag/line Access Devices, and Accessories; Technology - Diaphragm-based Devices, Compartmentalized Devices, and Air Cleaning/filtration Devices; End User - Hospitals, Oncology Centers & Clinics, and Other End Users): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : June, 2021

  • Rep Id : HC08676

  • Category : Healthcare & Medical Devices

  • Status : Published

A recent report published by Infinium Global Research on the closed system drug-transfer devices market provides an in-depth analysis of segments and sub-segments in the global as well as regional closed system drug-transfer devices market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional closed system drug-transfer devices market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global closed system drug-transfer devices market. According to the report, the global closed system drug-transfer devices market was nearly sized USD 400 million in 2020 and is expected to reach USD 1200 Million by 2026, growing with a CAGR of 19.6% over the forecast period of 2020-2026.

 

Market Insight

Closed system drug-transfer devices (CSTD) offer better protection against potentially dangerous exposures to healthcare workers during the handling and administration of hazardous drugs. CSTDs usually follow one of two design concepts which are either a physical barrier or an air-cleaning technology to prevent the escape of unsafe drugs into the work environment. Closed system drug-transfer devices are used in both compoundings in the pharmacy and bedside administration of chemotherapeutic drugs. Various purported CSTDs vary in several respects including ease of use and type of interface between the syringe and the infusion set or vial.

 

The growing adoption of chemotherapy and the improvement of regulatory guidelines regarding hazardous drugs is the primary growth factor for the global CSTD market. Healthcare and pharmaceutical workers are exposed during the preparation, administration, manufacturing, and disposal of hazardous medications. Closed system drug-transfer devices reduce contact of these workers to harmful agents as preventing workplace infectivity is the best tactic to reduce cytotoxic drug exposure in healthcare providers. Several reports have been published that explains the usefulness of CSTDs at lessening surface contamination and exposure of healthcare personnel after implementation of the devices.

 

Furthermore, the rising number of chemotherapeutic drug approvals is fueling the demand for CSTDs. In 2020, Cancer drugs represented the largest share of novel drug approvals with 21 new agents expected to be permitted. However, the lack of regulatory guidelines regarding health workers' safety in developing countries hampers the market growth. Moreover, the growth in the future potential of several market segments provides opportunities, based on the animal type, product type therapeutic area. The novel coronavirus pandemic had major effects on the health as well as the pharmaceutical sector. Increased hospitalization, the incidence of COVID-19-related pneumonia, and increased demand for related drugs. Hence the demand for closed system drug-transfer devices is also rapidly increased in 2020. As several companies are introducing the vaccine for coronavirus disease, the demand for closed system drug-transfer devices is expected to rise in the forecasted period.

 

The global closed system drug-transfer devices market has been dominated by the North America region over the historic period 2019 followed by Europe. Awareness among the people regarding the CSTD products with developed healthcare infrastructure is the key factor responsible for driving the growth of the pulmonary drug delivery devices market in this region. Also rising geriatric population in the U.S to augment the growth of the closed system drug-transfer devices market in this region. Asia-Pacific region is expected to be the fastest-growing region on account of developing healthcare infrastructure, increased spending on healthcare in developing countries like India, China, and other southeast Asian countries.

 

Segment Covered

The report on the global closed system drug-transfer devices market covers segments such as type, component, technology, and end user. On the basis of type, the sub-markets include membrane-to-membrane systems, and needleless systems. On the basis of component, the sub-markets include vial access devices, syringe safety devices, bag/line access devices, and accessories. On the basis of technology, the sub-markets include diaphragm-based devices, compartmentalized devices, and air cleaning/filtration devices. On the basis of end user, the sub-markets include hospitals, oncology centers & clinics, and other end users.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Equashield LLC., B. Braun Melsungen AG, Corvida Medical, Becton, Dickinson and Company, ICU Medical, Inc., Yukon Medical, JMS Co., Ltd., CODAN Medizinische Geräte GmbH & Co KG, Baxter International, Inc., and Caragen Ltd..

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of closed system drug-transfer devices market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


Other Reports in This Category
24 hour delivery through email
9923950043 Monday to Frieday 9am-7pm
looking for discount