Global Closed System Transfer Device (CSTD) Market Size, Trends & Growth Opportunity, By Type (Membrane-To-Membrane Systems, and Needleless Systems), By Component (Vial Access Devices, Syringe Safety Devices, Bag/Line Access Devices and Accessories), By T

Global Closed System Transfer Device (CSTD) Market Size, Trends & Growth Opportunity, By Type (Membrane-To-Membrane Systems, and Needleless Systems), By Component (Vial Access Devices, Syringe Safety Devices, Bag/Line Access Devices and Accessories), By Technology (Diaphragm-Based Devices, Compartmentalized Devices, and Air Cleaning/Filtration Devices), By End User, By Region and Forecast from 2022-2027.

Global Closed System Transfer Device (CSTD) Market

Global Closed System Transfer Device (CSTD) Market was valued at USD 401.23 million in 2021 which expected to reach USD 1851.3 million by 2027 at a CAGR 19.83%.

Devices that move medication from one reservoir to another while preventing the possibility of drug aerosolization, drug contamination, and dangerous drug exposure are known as closed-system transfer devices. These devices use one of two design principles, a physical barrier or air-cleaning technology, to stop dangerous medications from escaping into the workplace.

Market Drivers

Over the course of the forecast period, the expansion of the worldwide closed system transfer devices market is anticipated to be driven by the growing emphasis on enhancing the general safety of healthcare professionals who are in charge of administering and compounding dangerous pharmaceuticals. Additionally, the increased production of pharmaceuticals, the increased accessibility to cytotoxic drugs in the workplace, and technological improvements are all projected to support the market's expansion.

A few other significant factors driving the growth of the global closed system transfer device (CSTD) market include the rise in oncological drug approvals and the rising incidence of cancer. Additionally, the expansion of new innovations and product launches will favorably impact market expansion. For instance, Baxter International Inc. introduced its new Arisure Closed System Transfer device in January 2018. This device consists of a number of parts that work together to help prevent contaminants from entering the intravenous medication delivery system as well as the escape of hazardous substances from the system during drug preparation and administration. Safety is prioritized in the design of this device, which makes it simple to operate. A closed vial adapter is part of the Arisure Closed System Transfer device, which aids in providing secured access to liquid or powder vials for reconstitution.

Market Restraints

The market for closed system medication transfer devices is constrained by a number of factors, including high installation costs for the device and the risk of dangerous substance leakage, both of which are anticipated to impede market expansion. The absence of standards, guidelines, and criteria for the device may also impede market expansion. Additionally, throughout this prediction period, the development of closed system transfer devices (CSTD) is anticipated to be greatly impacted by the COVID-19 epidemic.

Market Segmentation

The Global Closed System Transfer Device (CSTD) Market is segmented into type such as Membrane-To-Membrane Systems, and Needleless Systems. The Membrane-To-Membrane Systems segment is anticipated to account for the largest share of the market in 2020.Due to their ease of operation and the lower risk of contamination associated with double-membrane containment systems. On the basis of component market is segmented into Vial Access Devices, Syringe Safety Devices, Bag/Line Access Devices and Accessories. Based on the technology market is segmented into Diaphragm-Based Devices, Compartmentalized Devices, and Air Cleaning/Filtration Devices. The diaphragm-based devices segment accounted for the largest share of the market due to the ease of operation and safety provided by these devices. Also, the market is segmented into end user such as Hospitals, Oncology Centers & Clinics, Others.

Regional Analysis

The Global Closed System Transfer Device (CSTD) Market is segmented into five regions such as such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

The market's growth has been primarily driven by the development of infrastructure, investments in R&D, technological advancements, consumer awareness of Closed System Transfer Device (CSTD) products, and improved researches, with North America holding the largest share and expected to continue to do so until 2027. Due to factors like expanding cancer research and rising cancer frequency in the region's developing & impoverished nations, the APAC region is anticipated to see a substantial growth rate. Additionally, the continued efforts by both public and private groups are expected to spur regional growth, as will the use of closed system transfer devices to curb the use of dangerous substances in the region.

Key Players

Prominent players in the global closed system transfer devices market includes ICU Medical, Inc., Equashield LLC, Becton, Dickinson and Company, B. Braun Melsungen AG, Yukon Medical, Corvida Medical, Baxter International Inc., Caragen Ltd, JMS CO., LTD., VICTUS, etc.

Market Taxonomy

By Type

• Membrane-To-Membrane Systems
• Needleless Systems