Global Closed System Drug Transfer Device (CSTD) Market Research Report: by Type (Barrier-Type, Filtration-Type), by Delivery (Closed Bag/Line Access Devices, Closed Vial Access Devices, Closed Syringe Safety Devices), by End-user - Forecast till 2025
Market Highlights
The global closed system drug transfer device (CSTD) market size is poised to expand at 19.10% CAGR over the forecast period (2018-2025).
The market is driven by the prevalence of cancer cases globally. According to the Canadian Cancer Society in 2017, nearly 206, 200 instances were registered with 80,800 dying from the disease. CSTDs are required for protecting hospital staff from hazardous drugs and ensuring their safety. Furthermore, safety guidelines outlined by regulatory bodies for safe handling practices at hospitals and clinics is predicted to augur well for the closed system drug transfer device (CSTD) market.
The market is driven by the prevalence of cancer cases globally. According to the Canadian Cancer Society in 2017, nearly 206, 200 instances were registered with 80,800 dying from the disease. CSTDs are required for protecting hospital staff from hazardous drugs and ensuring their safety. Furthermore, safety guidelines outlined by regulatory bodies for safe handling practices at hospitals and clinics is predicted to augur well for the closed system drug transfer device (CSTD) market.
The developing countries of India and China offer ample opportunities for the market to expand over the forecast period. Investments by medical equipment manufacturers coupled with medical tourism are likely to elicit massive demand for CSTDs. In addition, a report published by the National Institute for Occupational Safety and Health (NIOSH) in 2015 substantiated the effectiveness of these equipment in containing leaks or spillage of dangerous chemicals.
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But high costs of implementing these medical devices can stultify the market growth.
Segmentation Analysis
The closed system drug transfer device (CSTD) market is segmented by type, delivery, and end-user.
By type, barrier-type was the largest shareholder in 2017, while the filtration-type held stood second in the global market. This can be attributed to the use of filtration systems for segregating hazardous materials to ensure the safety of hospital staff. By modes of delivery, closed bag/line access devices accounted for the largest share in the CSTD market (2017). Among end-users, specialty centers held 70.92% market share in 2017. This can be linked to high use of chemotherapy drugs by oncology professionals to treat patients suffering from cancer.
Regional Analysis
Geographically, the closed system drug transfer device (CSTD) market covers the upcoming trends in Europe, Asia Pacific (APAC), Americas, and the Middle East & Africa (MEA).
The Americas accounted for the largest market share in 2017 and was followed by Europe, APAC and MEA.
Europe has assumed the second position after the Americas mainly due to the sophisticated healthcare industry. Awareness of the adverse effects of drug exposure which may cause infertility coupled with availability of CSTD products for hospitals can evoke high market demand during the forecast period.
The MEA region is projected to experience a sluggish growth rate due to the underdeveloped healthcare sector and low adoption rate of latest technologies.
Competitive Analysis
Key players in the closed system drug transfer device (CSTD) market include Teva Pharmaceutical Industries Ltd. (Israel), Becton, Dickinson and Company (U.S.), Corvida Medical (U.S.), ICU Medical Inc. (U.S.), Yukon Medical (U.S.), and Equashield LLC (U.S.).
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The report for Global market by Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain a deeper insight of the market and industry performance. The report gives a clear picture of the current market scenario which includes past and estimated future market size with respect to value and volume, technological advancement, macro economical and governing factors in the market. The report provides detail information about and strategies used by top key players in the industry. The report also gives a broad study of the different market segments and regions.
The competition is highly intense in nature with domestic and global vendors vying for a larger market share. Development of products compatible with the latest technologies coupled with acquisitions are major strategies of these players.
- Oct 2018 – Equashield LLC has decided to enter into a distribution agreement with Max Care Medical, a Saudi Arabian company, to expand its reach in the Middle East.
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The "Closed System Drug Transfer Device (CSTD) Market" report is a profound study conducted based on the global market, which examines the ruthless structure of the general sector worldwide.
This will assist consumers to make decisive choices based on predicted chart.
The Closed System Drug Transfer Device (CSTD) market report also covers up major and leading players Equashield LLC, Teva Medical Ltd, Corvida Medical, BD Medical Inc, ICU Medical Inc in the Closed System Drug Transfer Device (CSTD) market.
The strike of the global Closed System Drug Transfer Device (CSTD) market is mentioned in the part of those areas, It demonstrates various segments Closed Vial Access Devices, Closed Syringe Safety Devices, Closed Bag/Line Access Devices and sub-segments Hospital, Clinic of the global Closed System Drug Transfer Device (CSTD) market.
Various properties of the Closed System Drug Transfer Device (CSTD) market such as growth drivers, upcoming aspects, and limitations of every section have been profoundly communicated.This report demos every aspect of the Closed System Drug Transfer Device (CSTD) market starting from the basic market info and moving forward to various essential standards, on the basis of which, the Closed System Drug Transfer Device (CSTD) market is segmented.
Furthermore, the geological segmentation is provided in the report.Read Detailed Index of full Research Study at:: https://www.syndicatemarketresearch.com/market-analysis/closed-system-drug-transfer-device-cstd-market.htmlThe report also mentions in depth analysis of current rules, regulations, and policies, and industrial chain for the Closed System Drug Transfer Device (CSTD) market.
The new research report titled "Closed System Drug Transfer Device Market, Global Industry Analysis, and Forecast to 2027" gives a detailed analysis and future forecasts of the market.
The report highlights the significant players, including market size, share, and demand, development.
This report further covers the latest trends, technological advancements, and growth opportunities.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the closed system drug transfer device market include BD Medical, Equashield, ICU Medical, Teva Medical Ltd., CorvidaMedical, B. Braun.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Closed System Drug Transfer Device Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/closed-system-drug-transfer-device-market/download-sampleMarket DynamicsThe global closed system drug-transfer device market is driven by an increased risk of chromosomal abnormalities associated with hazardous drug exposure in all healthcare workers, rising cancer cases, a growing number of oncology drug approvals, and restricting regulatory guidelines regarding the safe handling and use of hazardous drugs.
Rising awareness about CSTD products among end-users, especially in developing countries, will be expanding the growth at a significant pace during the forecast period.
