Closed System Transfer Devices Market Size, Share and Global Trend By Type (Membrane-To-Membrane Systems, Needleless Systems), By Component (Vial Access Devices, Syringe Safety Device), By Closing Mechanism (Color to Color Alignment, Push toLock), By Technology (Diaphragm-Based Devices, Compartmentalized Devices), By End User (Hospitals & Clinics, Ambulatory Surgery Centers), and Regional Forecast, 2024-2032

In the era where the number of healthcare activities and medical procedures such as treatments are increasing, patient safety is as critical as healthcare worker safety. Closed system transfer devices are used in order to avoid contamination in drugs, drug aerosolization, and hazardous drug exposures. Safety of drug experts, caregivers, nurses, pharmacists, and other clinical staff is also one of the main important concern in utilizing closed system transfer devices. The need for the closed system transfer devices was especially realized when there were risks of the spread of infection from these hazardous sources. There were often short term and long term repercussions of these risks and often undermined the healthcare professionals ability to do effective service. These infections also often posed risks to the patient’s health and recovery process. CTSD falls into two categories: those which are closed systems and those who employ air cleansing technology that prevents the flow of contaminants. In May 2018, Birmingham City University and Vygon launched Cytotoxic Systemic Anti-Cancer Therapy (SACT) Safety Campaign, in order to spread the awareness and to promote the utilization of closed system transfer devices amongst the chemotherapy nurses which are frequently in contact with hazardous cancer treatment drugs.

The growing emphasis on implementation of safety measures for laboratory personnel is expected to boost the growth of the global closed system transfer devices market during the forecast period. Moreover, a higher prevalence of fatal accidents due to exposure to hazardous drugs is projected to offer a higher opportunity for increased adoption of closed system transfer devices.

Lack of reimbursement policies and lack of awareness about closed system transfer devices in emerging nations is expected to restrain the growth of the global closed system transfer devices market.

Key Players Covered

Some of the major companies that are present in the global closed system transfer devices market are EQUASHIELD, BD (Becton, Dickinson, and Company), B. Braun Melsungen AG, JMS Co.Ltd., Yukon Medical, Teva Pharmaceutical Industries Ltd., Corvida Medical, Baxter, ICU Medical Inc., VICTUS, CODAN Medizinische Geräte GmbH & Co KG and others.

SEGMENTATION 

Among the segmentation, hospitals in the end user segment are projected to hold a considerable share of the global closed system transfer devices market owing to higher utilization of closed system transfer devices due to exhaustive research activities and illustrations are taking place at research laboratories.

Key Insights

• Key Mergers and Acquisitions
• PORTER’s Five Forces Analysis
• New Product Launches
• Key Strategies Employed by Leading Market Players

Regional Analysis

North America is expected to register comparatively higher share of the global closed system transfer devices market owing to higher utilization of closed system transfer devices, which is mainly due to a comparatively higher amount of awareness amongst healthcare resources. Moreover, the rising emphasis on strict implementation of healthcare labor safety programs in North America is expected to boost the adoption of closed system transfer devices market during the forecast period. Though presently the Asia Pacific is expected to hold a considerably lower share of the global closed system transfer devices market, the Asia Pacific is expected to register comparatively higher CAGR owing to a larger number of research activities being conducted at laboratories and spreading awareness about closed system transfer devices amongst healthcare resources.

Key Industry Developments

• In January 2018, Baxter announced the launch of Arisure, a new closed system transfer device in the U.S. market
• In June 2018, JMS North America Corporation got FDA approval to commercialize its new closed system transfer device, known as NEOSHIELD
• In November 2018, Equashield announced the launch of CSTD-enabled Equashield Pro Robot at upcoming American Society of Health-System Pharmacists meeting. Equashield Pro is an advanced automated pharmacy compounding system which is developed with aim to offer safe environment for preparation of injectable hazardous drugs.