The global needlefree closed system transfer device (CSTD) market size was 1808.77 million in 2020. The global COVID-19 pandemic has inflicted unprecedented challenges on the global economic structure. The global needlefree closed system transfer device (CSTD) market has witnessed a limited impact of the humanitarian crisis.
COVID-19 IMPACT
"Market to Witness Robust Growth Post-Pandemic"
The humanitarian crisis has significantly impacted the global economic structure and stagnated the growth of several industries and markets. The needlefree closed system transfer device (CSTD) market has witnessed a limited impact of the COVID-19 pandemic. Due to the fear of contracting the virus at hospitals and clinics, the number of patients visiting hospitals and clinics declined. Cancer combined with the coronavirus can deteriorate the organs. This factor aggravated the situation and negatively impacted the market growth. However, the immense investments to bolster the healthcare sector has boosted the growth of the market. Moreover, the vaccines are now available to the masses, and nations around the globe have ramped up their vaccination drives. The market is anticipated to witness robust growth post-pandemic.
LIST OF KEY MARKET PLAYERS PROFILED:
BD Medical
Equashield
ICU Medical
Teva Medical
Corvida Medical
KEY INDUSTRY DEVELOPMENTS:
October 2018: Equashield LLC formed a strategic partnership with Max Care Hospital, Saudi Arabia to expand its CSTD distribution in the Middle East and Africa region.
REPORT COVERAGE
The global needlefree closed system transfer device (CSTD) market report offers a comprehensive assessment of the market and focuses on key factors, such as components, end-users, applications, and leading companies. Other than this, the report offers vital insights into the ongoing market trends and highlights key industry developments. In addition to the above-mentioned factors, the report envisages significant factors contributing to the market’s growth in recent years.
Market Key Players Teva Pharmaceutical Industries Ltd. (Israel), Becton, Dickinson and Company (U.S.)Corvida Medical (U.S.) ICU Medical Inc. (U.S.) Yukon Medical (U.S.)Equashield LLC (U.S.) 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.
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.Free sample copy is available  @ https://www.marketresearchfuture.com/sample_request/7733Segmentation AnalysisThe 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.
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 AnalysisGeographically, the closed system drug transfer device (CSTD) market covers the upcoming trends in Europe, Asia Pacific (APAC), Americas, and the Middle East & Africa (MEA).
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 2025Market HighlightsThe 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.
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.
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.Avail a Free Sample@Â https://www.marketresearchfuture.com/sample_request/7733But high costs of implementing these medical devices can stultify the market growth.Segmentation AnalysisThe 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.
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 AnalysisGeographically, 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.