The global demand for Closed System Drug Transfer Device Market is presumed to reach the valuation of nearly USD XX MN by 2026 from USD XX MN in 2019 with a CAGR of XX% under the study period of 2020 - 2026. Whereas with regards to volume, the market was calculated XX Kilo Units in 2019 and foreseen to touch XX Kilo Units by 2026 with a CAGR of XX% during 2020-2026.
Closed system drug-transfer device refers to a drug transfer device that mechanically denies the exchange of foreign contaminants into the system and the escape of the hazardous drug or vapor concentrations outside the system. It follows one of two design concepts, using either a physical hindrance or an air-cleaning technology to prevent hazardous drugs' escape into the work environment. It offers upgraded assurance against conceivably perilous presentations to medicinal services laborers during the exacerbating and organization of risky medications.
The 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. Many hazardous cancer drugs used to treat cancer may have toxic properties such as alkylating antineoplastic agents that may bind to and cause irreversible DNA damage in humans. 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. Meanwhile, limited technological progress and underdeveloped healthcare industry in some regions are projected to hamper the closed system transfer device (CSTD) market.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of closed system drug transfer device.
The entire closed system drug transfer device market has been sub-categorized into type, delivery and end-user. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
- Closed Vial Access Devices
- Closed Bag/Line Access Devices
- Closed Syringe Safety Devices
- Specialty Centers
- Hospitals & Clinics
This section covers regional segmentation which accentuates on current and future demand for closed system drug transfer device market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Europe Closed System Drug Transfer Device Market By Revenue (USD MN)
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.
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.