Closed System Drug Transfer Device Market 2022 Competition Dynamics and Growth Objectives by 2027 – Teva Pharmaceutical Industries Ltd. (Israel), Corvida Medical (U.S.), Becton, Dickinson and Company (U.S.)
Research Reports
Apr 14, 2022
Market Scope:
Market Research Future (MRFR) studied the global closed system drug transfer device (CSTD) market for the review tenure till 2027. As per MRFR analysis, the closed system drug transfer device market is expected to rise at 19.10?GR over the assessment tenure till. By 2027, the closed system drug transfer device (CSTD) market can garner decent revenue.
The growth of the closed system drug transfer device market can be attributed to the increasing prevalence of cancer across the globe. CSTDs are used for protecting hospital staff from exposure to hazardous drugs, thus ensuring their safety. Moreover, safety guidelines provided by regulatory authorities for safe handling practices at clinics and hospitals is predicted to prompt the rise of closed system drug transfer device (CSTD) market. Some developing economies offer several opportunities for the CSTD marketer to expand their businesses over the forecast term as investments by top-notch medical equipment manufacturers is observed. The expansion of medical tourism is contributing to the increasing demand for CSTDs, which, in turn, can favor the market in the years to come. In addition, the rise in awarness about effectiveness of CSTDs in containing spillage or leaks of dangerous chemicals can improve the impetus of the market. On the contrary, the closed system drug transfer device market can experience restrain due to high installation cost of such medical devices.
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The design of CSTDs basically includes two features. They are; the physical barrier technology and air cleaning technology. The upgradation of technologies governing these features can add to the rise of the market. The growing concern about healthcare workers engaged in compounding and administration of dangerous drugs and the adoption of closed system drug transfer device (CSTD) to prevent hazards can improve the impetus of the market over the forecast tenure.
Closed System Drug Transfer Device Market Top Companies:
Becton – USA
Dickinson and Company (U.S.)
Teva Pharmaceutical Industries Ltd. (Israel)
Equashield LLC (U.S.)
ICU Medical Inc. (U.S.)
Yukon Medical (U.S.)
Corvida Medical (U.S.)
Closed System Drug Transfer Device Market Segmental Analysis:
The segment study of the global closed system drug transfer device (CSTD) market is based on type, end-user, and delivery.
The delivery-based segments of the global closed system drug transfer device market study are closed bag/line access devices, closed syringe safety devices, and closed vial access devices.
The type-based segments of the closed system drug transfer device (CSTD) market are barrier-type and filtration-type. The segment of barrier-type can garner decent revenue owing to the high sales of barrier-type CSTDs.
The end-user-based segments of the closed system drug transfer device (CSTD) market study are specialty centers, and hospitals and clinics.
Closed System Drug Transfer Device Market Regional Overview:
The regional study of the closed system drug transfer device (CSTD) market covers upcoming trends across Europe, Asia Pacific (APAC), the Middle East Asia and Africa (MEA), and Americas. The closed system drug transfer device market in the Americas can secure the largest share of the worldwide market, followed by Europe, Asia Pacific, and MEA. In Europe, the CSTD market can garner decent revenue over the analysis tenure owing to the expansion of healthcare industry. The growing awareness about adverse effects of drug can cause infertility in staffs. Thus, the adoption and easy availability of CSTD products in hospitals can boost the growth of closed system drug transfer device (CSTD) market in Europe during the analysis term. The CSTD market in MEA region can experience sluggish rise owing to the presence of an underdeveloped healthcare sector and decline in adoption rate of modern technologies.
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