According to The Insight Partners market research study of “Closed System Drug Transfer Devices Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Closing Mechanism, Type, Technology, Component, and End User,” the global closed system drug transfer devices market is expected to reach US$ 1,661.83 million by 2027 from US$ 374.48 million in 2019. The market is estimated to grow at a CAGR of 20.5% from 2020 to 2027. The report highlights trends prevailing in the global closed system drug transfer devices market and the factors driving market along with those that act as hindrances.
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The closed system drug transfer devices market is expected to grow owing to factors such as growing adoption of chemotherapy and improvement of regulatory guidelines regarding hazardous drugs. However, the lack of regulatory guidelines regarding health workers’ safety in emerging countries is expected to restrict the market growth during the forecast period.
Based on technology, the global closed system drug transfer devices market is segmented into diaphragm-based devices, compartmentalized devices, and air cleaning/filtration devices. The diaphragm-based devices segment held the largest share of the market in 2019. Certain factors, such as superior protection from hazardous drugs and increase in adoption of the devices due to pressure equalization techniques, are responsible for considerable share of the segment in the global market. However, the compartmentalized devices segment is anticipated to register the highest CAGR during the forecast period.
The COVID-19 outbreak has also affected the closed system drug transfer devices market across the globe. At present, majority of the manufacturing companies and research institutes and centers are involved in diagnosing the coronavirus and vaccines to treat the deadly virus. Thus, the shift of medical device and research centers and diagnostics laboratories toward the COVID-19 pandemic has hindered the market growth. It is expected that the impact of the pandemic is likely to be seen for a few years.
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BD, B. Braun Medical Inc., ICU MEDICAL INC., EQUASHIELD, Corvida Medical, Yukon Medical, Caragen Ltd., Simplivia Healthcare Ltd., JMS CO., LTD., and Victus, Inc. are some of the leading companies operating in the closed system drug transfer devices market.
The report segments the global closed system drug transfer devices market as follows:
By Closing Mechanism
- Push-to-Turn Systems
- Color-to-Color Alignment Systems
- Luer-Lock Systems
- Click-to-Lock Systems
By Type
- Membrane-to-membrane Systems
- Needleless Systems
By Technology
- Diaphragm-Based Devices
- Compartmentalized Devices
- Air Cleaning/Filtration Devices
By Components
- Vial Access Devices
- Syringe Safety Devices
- Bag/Line Access Devices
- Accessories
By End User
- Hospitals & Clinics
- Oncology Centers
- Others
By Geography
· North America
o
§ US
§ Canada
§ Mexico
· Europe
o
§ France
§ Germany
§ UK
§ Spain
§ Italy
· Asia Pacific (APAC)
o
§ China
§ India
§ Japan
§ Australia
§ South Korea
· Middle East & Africa (MEA)
o
§ Saudi Arabia
§ U.A.E
§ South Africa
· South & Central America (SCAM)
o
§ Brazil
§ Argentina
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The global Closed System Transfer Devices Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.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 transfer devices market include Becton, Dickinson and Company, ICU Medical, Inc., Equashield LLC., B. Braun Melsungen AG, Corvida Medical, Yukon Medical, JMS Co., Ltd., CODAN Medizinische Geräte GmbH & Co KG, Baxter International, Inc., VICTUS, and Caragen Ltd.
This section consists of 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 Transfer Devices Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/closed-system-transfer-devices-market/download-sampleMarket DynamicsThe market is primarily driven by the rising prevalence of cancer, the increasing number of oncology drug approvals, the growing use of closed system transfer devices to combat the harmful effects of cytotoxic or antineoplastic drugs, and enhancing regulatory guidelines regarding the safe handling and use of hazardous drugs.
Further, growing investments in recent years toward developing an efficient drug-handling chain are projected to boost the market's growth.
Moreover, the rise in the inclusion of closed system transfer devices in many drug safety programs in conjunction with many other engineering controls is another factor likely to propel the market during the forecast period.
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.
