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 2027
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Closed System Drug Transfer Devices Market Overview
The CAGR for the closed system drug transfer devices market is projected to be 19.10% until 2027. The market value is projected to be USD 8954.9 million by 2027.
COVID-19 analysis
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Overview
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.
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.
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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