Global Closed System Transfer Devices (CSTD) Market

The global closed system transfer devices (CSTD) market is anticipated to grow with a CAGR of 16.37% over the forecast period, i.e., 2021 - 2030. Factors such as the rising prevalence of cancer globally, and the need for chemotherapy drugs, which are also highly hazardous in nature, followed by the rising need amongst the healthcare workers to follow safety protocols during the drug delivery process of hazardous drugs, are anticipated to drive the growth of the market in the coming years. Moreover, factors such as the increasing healthcare expenditure worldwide, growing advancements in the field of medical science, increasing adoption of automated drug compounding robots, along with the wide application of CSTD in various therapeutic areas are also projected to contribute to the growth of the market in the years to come. The market is estimated to garner a revenue of about USD 3330 Million by the end of 2030, up from a revenue of around USD 730 Million in the year 2020.

The global closed system transfer devices (CSTD) market is segmented into numerous segments, which include segmentation by product type, component, closing mechanism, technology, end-user, and by region. Based on component, the market is segmented into vial access devices, syringe safety devices, bag/line access devices, and others. By the end of 2030, the vial access devices segment is anticipated to garner the largest revenue of near to USD 1170 Million, up from a revenue of more than USD 260 Million in the year 2020.

On the basis of regional analysis, the global closed system transfer devices (CSTD) market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market in North America, among the market in all the other regions, is anticipated to garner the largest revenue of near to USD 1170 Million by the end of 2030, up from a revenue of about USD 260 Million in the year 2020.

Some of the prominent industry leaders in the global closed system transfer devices (CSTD) market that are included in our report are Becton, Dickinson and Company, Yukon Medical, LLC, Caragen Ltd., ICU Medical, Inc., Vygon, JMS North America Corporation, CODAN Companies, Corvida Medical, Simplivia Healthcare Ltd., EquashieldMedical Ltd., and others.