The global closed system transfer devices market was valued at $823.58 million in 2020, and is projected to reach $3,271.74 million by 2030, registering a CAGR of 15.4% from 2021 to 2030. Closed system transfer devices also known as CSTDs are among the systems used to transfer medication from one reservoir to another and limit the potential for drug aerosols, drug contamination, sharps exposure, and hazardous drug exposure. It mechanically prohibits the transfer of environmental contaminants into the system and the escape of hazardous drug or vapor concentrations outside the system.
The National Institute of Occupational Health and Safety (NIOSH) uses the term "hazardous drug" to designate medicines that may cause unfavorable mutagenic and reproductive reactions in the health of employees. As a result, many guidelines for safe handling of drugs categorized as hazardous by NIOSH have been created. For the protection of healthcare workers, several recommendations for biological and environmental monitoring of these hazardous medications have been put in place. In addition to monitoring requirements, one such engineering control that can assist protect personnel's health is the use of closed system transfer devices (CSTDs).
CSTDs are widely used in medical equipment to maintain the sterility of a fluid pathway. They function by limiting uncontrolled inflow and outflow of contaminants and medications, thereby maintaining the quality of the solution to be injected into a patient. It should provide total protection to healthcare personnel while handling hazardous medications; nevertheless, contaminants may still be identified despite the use of CSTDs owing to poor handling or inadequate product design.
Furthermore, when linked to the reservoir (usually a drug vial), CSTD devices balance the pressure gradient with the vessel carrying the drug as well as the syringe. Furthermore, without a pressure equalization system, pressure fluctuations can cause the formation of fine aerosols, which can escape into the air and expose the environment, patients, and healthcare workers to hazardous drugs. Other CSTDs use the inbuilt filter to cleanse escaping air that has been contaminated with hazardous drug vapors or aerosols.
The growth of the global closed system transfer devices market is majorly driven by rising prevalence of cancer. According to the American Cancer Society, in 2021, it is estimated that there will be 1.9 million new cancer cases diagnosed and 608,570 cancer deaths in the U.S. Chemotherapy, a major cancer treatment, utilizes one or more antineoplastic drugs to destroy abnormal cells in patients. CSTDs are beneficial in the delivery of cytotoxic chemotherapeutic agents and drugs, such as antineoplastic, a cancer-treating therapy.
For example, to prepare and deliver chemotherapy drugs containing hazardous antineoplastic agents, the drugs need to be transferred from vial to syringe and then from syringe to IV infusion bag. There is a chance of being exposed to harmful drugs with each transfer. The use of closed system transfer devices (CSTDs) in conjunction with other safety precautions such as gloves, gowns, masks, and vented preparation hoods is an efficient approach to enhance safety. CSTDs are used to avoid such exposures, which can result in significant health problems ranging from skin irritation to birth abnormalities and even cancer.
Cancer is among the leading causes of death worldwide. According to the International Agency for Research on Cancer and World Health Organization (WHO), based on the statistics of Global Cancer Observatory, in 2018, there were 18.1 million new cases and 9.5 million cancer-related deaths worldwide. By 2040, the number of new cancer cases per year is expected to rise to 29.5 million and the number of cancer-related deaths is expected to rise to 16.4 million. Thus, rise in prevalence of cancer is anticipated to drive the growth of the market.
In addition, increasing number of oncology approvals is also one of the drivers significantly boosts the market growth. Surge in demand for antineoplastic medications and personalization of therapies has led to the development of oncology sector. It is a prominent area of interest for pharmaceutical companies due to rising instances of cancer. Advances in the understanding of cancer biology and therapeutic strategies have resulted in increasing drug applications and approvals. Furthermore, new advancements in cancer will result in more treatment alternatives as well as increased safety concerns with regard to new medications. Thus, the aforementioned factors are anticipated to drive the growth of the market.
On the contrary, the high cost of CSTD implementation along with lack of reimbursement for CSTDs and compliance with regulatory requirements in developing countries impedes the adoption of these devices in hospitals and oncology centers as they are for single usage and costly than regular syringes. At the same time, lack of awareness of the use of CSTD among underdeveloped economies is also anticipated to hinder the growth of the market.
In addition, rising government initiatives to build high-quality hospital infrastructure and increasing technological advancements to help prevent contaminants from entering the intravenous (IV) medication delivery system to provide maximum safety to healthcare workers while transferring these hazardous drugs that may lead to certain abnormalities and cause gene mutations are expected to fuel the market growth.
Emerging markets and significant R&D to develop efficient closed system transfer devices, innovation of various systems, unmet demand in underdeveloped and developing countries are projected to provide substantial growth opportunities for key players in the closed system transfer devices market.
The global closed system transfer devices market is segmented on the basis of type, technology, end user, and region. On the basis of type, the market is categorized into membrane to membrane and needleless. By technology, the market is fragmented into diaphragm-based, compartmentalized, and filtration. By end user, the market is categorized into hospitals & clinics, oncology centers, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the global closed system transfer devices market are B. Braun Holding GmbH & Co. KG, Baxter International, Inc., Becton, Dickinson and Company, Caragen Ltd., Corvida Medical, Equashield LLC., FIMI Opportunity Funds (Simplivia Healthcare), ICU Medical, Inc., JCB Co., Ltd. (JMS Co., Ltd.), and Yukon Medical.
The National Institute of Occupational Health and Safety (NIOSH) uses the term "hazardous drug" to designate medicines that may cause unfavorable mutagenic and reproductive reactions in the health of employees. As a result, many guidelines for safe handling of drugs categorized as hazardous by NIOSH have been created. For the protection of healthcare workers, several recommendations for biological and environmental monitoring of these hazardous medications have been put in place. In addition to monitoring requirements, one such engineering control that can assist protect personnel's health is the use of closed system transfer devices (CSTDs).
CSTDs are widely used in medical equipment to maintain the sterility of a fluid pathway. They function by limiting uncontrolled inflow and outflow of contaminants and medications, thereby maintaining the quality of the solution to be injected into a patient. It should provide total protection to healthcare personnel while handling hazardous medications; nevertheless, contaminants may still be identified despite the use of CSTDs owing to poor handling or inadequate product design.
Furthermore, when linked to the reservoir (usually a drug vial), CSTD devices balance the pressure gradient with the vessel carrying the drug as well as the syringe. Furthermore, without a pressure equalization system, pressure fluctuations can cause the formation of fine aerosols, which can escape into the air and expose the environment, patients, and healthcare workers to hazardous drugs. Other CSTDs use the inbuilt filter to cleanse escaping air that has been contaminated with hazardous drug vapors or aerosols.
The growth of the global closed system transfer devices market is majorly driven by rising prevalence of cancer. According to the American Cancer Society, in 2021, it is estimated that there will be 1.9 million new cancer cases diagnosed and 608,570 cancer deaths in the U.S. Chemotherapy, a major cancer treatment, utilizes one or more antineoplastic drugs to destroy abnormal cells in patients. CSTDs are beneficial in the delivery of cytotoxic chemotherapeutic agents and drugs, such as antineoplastic, a cancer-treating therapy.
For example, to prepare and deliver chemotherapy drugs containing hazardous antineoplastic agents, the drugs need to be transferred from vial to syringe and then from syringe to IV infusion bag. There is a chance of being exposed to harmful drugs with each transfer. The use of closed system transfer devices (CSTDs) in conjunction with other safety precautions such as gloves, gowns, masks, and vented preparation hoods is an efficient approach to enhance safety. CSTDs are used to avoid such exposures, which can result in significant health problems ranging from skin irritation to birth abnormalities and even cancer.
Cancer is among the leading causes of death worldwide. According to the International Agency for Research on Cancer and World Health Organization (WHO), based on the statistics of Global Cancer Observatory, in 2018, there were 18.1 million new cases and 9.5 million cancer-related deaths worldwide. By 2040, the number of new cancer cases per year is expected to rise to 29.5 million and the number of cancer-related deaths is expected to rise to 16.4 million. Thus, rise in prevalence of cancer is anticipated to drive the growth of the market.
In addition, increasing number of oncology approvals is also one of the drivers significantly boosts the market growth. Surge in demand for antineoplastic medications and personalization of therapies has led to the development of oncology sector. It is a prominent area of interest for pharmaceutical companies due to rising instances of cancer. Advances in the understanding of cancer biology and therapeutic strategies have resulted in increasing drug applications and approvals. Furthermore, new advancements in cancer will result in more treatment alternatives as well as increased safety concerns with regard to new medications. Thus, the aforementioned factors are anticipated to drive the growth of the market.
On the contrary, the high cost of CSTD implementation along with lack of reimbursement for CSTDs and compliance with regulatory requirements in developing countries impedes the adoption of these devices in hospitals and oncology centers as they are for single usage and costly than regular syringes. At the same time, lack of awareness of the use of CSTD among underdeveloped economies is also anticipated to hinder the growth of the market.
In addition, rising government initiatives to build high-quality hospital infrastructure and increasing technological advancements to help prevent contaminants from entering the intravenous (IV) medication delivery system to provide maximum safety to healthcare workers while transferring these hazardous drugs that may lead to certain abnormalities and cause gene mutations are expected to fuel the market growth.
Emerging markets and significant R&D to develop efficient closed system transfer devices, innovation of various systems, unmet demand in underdeveloped and developing countries are projected to provide substantial growth opportunities for key players in the closed system transfer devices market.
The global closed system transfer devices market is segmented on the basis of type, technology, end user, and region. On the basis of type, the market is categorized into membrane to membrane and needleless. By technology, the market is fragmented into diaphragm-based, compartmentalized, and filtration. By end user, the market is categorized into hospitals & clinics, oncology centers, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the global closed system transfer devices market are B. Braun Holding GmbH & Co. KG, Baxter International, Inc., Becton, Dickinson and Company, Caragen Ltd., Corvida Medical, Equashield LLC., FIMI Opportunity Funds (Simplivia Healthcare), ICU Medical, Inc., JCB Co., Ltd. (JMS Co., Ltd.), and Yukon Medical.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides an extensive analysis of the current and emerging market trends and dynamics in the global closed system transfer devices market to identify the prevailing opportunities.
- This study presents the competitive landscape of the global market to predict the competitive environment across geographies.
- Comprehensive analysis of factors that drive and restrict the market growth is provided.
- Region- & country-wise analysis is provided to understand the market trends and dynamics.
KEY MARKET SEGMENTS
By Type
- Membrane-to-membrane
- Needleless
By Technology
- Diaphragm-based
- Compartmentalized
- Filtration
By End User
- Hospitals & Clinics
- Oncology Centers
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Saudi Arabia
- Rest of LAMEA
KEY MARKET PLAYERS
- B. Braun Holding GmbH & Co. KG
- Baxter International
- Becton, Dickinson and Company
- Caragen Ltd
- Corvida Medical
- Equashield
- FIMI Opportunity Funds (Simplivia Healthcare)
- ICU Medical
- JCB Co Ltd. (JMS Co Ltd.)
- Yukon Medical
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET LANDSCAPE
CHAPTER 4: CLOSED SYSTEM TRANSFER DEVICES MARKET, BY TYPE
CHAPTER 5: CLOSED SYSTEM TRANSFER DEVICES MARKET, BY TECHNOLOGY
CHAPTER 6: CLOSED SYSTEM TRANSFER DEVICES MARKET, BY END USER
CHAPTER 7: CLOSED SYSTEM TRANSFER DEVICES MARKET, BY REGION
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- B. Braun Holding GmbH & Co. KG
- Baxter International Inc.
- Becton
- Dickinson and Company
- Caragen Ltd.
- Corvida Medical
- Equashield LLC.
- FIMI Opportunity Funds (Simplivia Healthcare)
- ICU Medical Inc.
- JCB Co. LTD. (JMS Co. LTD.)
- Yukon Medical
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 222 |
| Published | October 2021 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 823.58 million |
| Forecasted Market Value ( USD | $ 3271.74 million |
| Compound Annual Growth Rate | 14.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
