The latest published report by Polaris Market Research The report “Closed System Drug Transfer Device Market Share, Size, Trends, Industry Analysis Report, By Type (Filtration, Barrier); By Component (Line Access, Syringe Safety, Vial Access, Others); By Closing Mechanism; By Technology; By End-Use; By Regions; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The global closed system drug transfer device (CSTD) market size was valued at USD 444.3 million in 2020 and is expected to reach USD 1.91 billion by 2028 to grow at a CAGR of 20.1% during the forecast period. [2021 – 2028]. The demand for closed system drug transfer devices is expected to increase during the forecast period owing to the increasing use of these machines for the treatment of diseases such as cancer, stringent regulations regarding safe handling of drugs, and technological advancements for the delivery of effective healthcare services drives the market growth. Governments across the globe are investing significantly in the development of advanced healthcare infrastructure, boosting market growth of closed system drug transfer devices system.
List of Key Players of Closed System Drug Transfer Device Industry
- Becton Dickinson and Company
- JMS Co., Ltd.
- Codan Medizinische Geräte GmbH & Co Kg
- Victus, Inc.
- Baxter International Inc.
- Teva Pharmaceutical Industries Ltd.
- Equashield LLC
- Braun Melsungen
- Caragen Ltd.
- Yukon Medical
- ICU Medical Inc.
- Corvida Medical
*Note: Additional companies can be included on request
The market is segmented into compartmentalized devices, air filtration devices, diaphragm-based devices, and others, based on technology. The diaphragm-based segment dominated the global market in 2020. The demand for compartmentalized segment is expected to increase during the forecast period owing to ease of use and lower prices. Compartmentalized machines are capable of containing, transfer, and equalizing the pressure within the system without any additional attachment to the system.
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The hospital segment dominated the global market in 2020. The increasing occurrence of cancer-related diseases coupled with government initiatives supports the growth of this segment. The growing geriatric population, and rising healthcare expenditure in developing countries, such as India, China, and Japan, boost the adoption of closed system drug transfer machines in hospitals.
The market in the Asia Pacific is projected to dominate the closed systems drug transfer devices market during the forecast period on account of the rise in cases of cancer resulted in increasing adoption of chemotherapies, which in turn helping the market to grow. In addition to this, increasing chemotherapeutic drug approvals and advancements in the handling of hazardous drugs are further propelling the regional market growth. North America dominated the global market in 2020 and is expected to maintain its dominance over the forecast period. However, Asia-Pacific is expected to experience significant growth during the forecast period owing to increasing health awareness, and rising spending on healthcare.
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Table of Contents
Chapter 1. Introduction
Chapter 2. Executive Summary
Chapter 3. Research Methodology
Chapter 4. Closed System Drug Transfer Device Market Insights
Chapter 5. Global Closed System Drug Transfer Device Market, by Type
Chapter 6. Global Closed System Drug Transfer Device Market, by Component
- Line Access
- Syringe Safety
- Vial Access
Chapter 7. Global Closed System Drug Transfer Device Market, by Closing Mechanism
Chapter 8. Global Closed System Drug Transfer Device Market, by Technology
- Compartmentalized Devices
- Air Filtration Devices
- Diaphragm-Based Devices
Chapter 9. Global Closed System Drug Transfer Device Market, by End-User
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