Global Closed System Transfer Devices Market - 2022-2029

Market Overview

The global closed system transfer devices market size was valued at US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

Closed System Drug Transfer Device (CSTD) is a device that mechanically restricts the inflow of environmental contaminants and outflow of hazardous drug or vapor concentrations outside the system during drug reconstitution and administration. CSTD enables to transfer of drugs without exposing them to be healthcare personnel handling the harmful drugs. CSTDs are useful in transferring cytotoxic chemotherapeutic agents and drugs such as antineoplastic cancer-treating drugs.

Market Dynamics

The global closed system transfer devices market growth is driven by the rising prevalence of cancer, increasing number of oncology drug approvals, improving regulatory guidelines regarding the safe handling and use of hazardous drugs, and technological advancements.

The increasing number of oncology drug approvals is driving the market growth

Oncology drug development is a prominent area of interest for pharmaceutical companies. Advances in the understanding of cancer biology and therapeutic strategies have resulted in increasing drug applications and approvals. With the increasing number of indications for previously approved oncology drugs, the target patient population is expected to increase, which boosts the uptake of hazardous oncology drugs. Furthermore, new developments in oncology will lead to more treatment options and more safety issues with respect to new medicines. In addition to this, recent advances in clinical drug development, resulting from advances in the molecular understanding of cancer with associated targeted pharmacological interventions and the need to bring effective drugs efficiently, fuel innovation in oncology drug development. With the increasing number of oncology drug approvals, the need to use safety precautions, including CSTDs, is increasing, this factor will drive the growth of the market.

The number of healthcare workers exposed to cytotoxic drugs is on the rise. Cytotoxic drugs are designed to destroy cells that grow rapidly and uncontrolled, preventing their replication or growth. Globally, these drugs are increasingly being used in various healthcare settings, most prominently in cancer treatment. They also treat non-cancerous diseases such as rheumatoid arthritis, multiple sclerosis, psoriasis, and systemic lupus erythematosus.

These hazardous drugs are used in organ transplantation procedures and the treatment of collagen vascular disorders. Their use in other hospital departments such as immunology, infectious diseases, rheumatology, nephrology, dermatology, obstetrics/gynecology, and radiology is rising. As various regulatory bodies recommend CSTDs for the safe handling of such hazardous drugs, the increase in the therapeutic applications of these drugs drives the growth of the market in the forecast period.

Lack of compliance with regulatory guidelines in developing countries will hamper the market growth

The use of CSTDs for handling hazardous drugs is not mandatory in some European, Asia Pacific, Latin American, Middle Eastern, and African countries. However, in the US, various regulatory bodies have issued guidelines for the safe handling of hazardous drugs and to reduce the potential risks of occupational exposure. However, compliance with these regulations is low. According to a white paper published by ICU Medical, the adoption of CSTDs in US hospitals reached 41% in 2014. Lack of awareness regarding the risks involved with hazardous drug handling is a major factor limiting the adoption of CSTDs.

COVID-19 Impact Analysis

The COVID-19 pandemic is an unprecedented crisis that has significantly strained healthcare providers, facilities, and systems worldwide. The pandemic had a negative impact on the CSTD market. It caused the deferral of millions of elective procedures, resulting in a potential backlog of case volume. This was due to virus containment measures such as nationwide lockdowns and social distancing. Due to this, the average footfall in hospitals decreased drastically, and many hospitals system postponed non-emergency procedures. In contrast, patient health-seeking behavior changed, with diagnosis and treatment becoming a greater concern.

Segment Analysis

The Luer-lock segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)

A Luer lock syringe enables a needle to be twisted onto the tip and be locked into place, providing a secure connection and preventing accidental removal of the needle as well as accidental injection of contents. The locking 'Luer-Lok' style is more secure, the needles are inserted into the syringe and twisted to form a locked connection; ensuring no liquids can leak and preventing accidental removal of the needle. Luer lock fittings have the addition of interlocking threads to hold the connection together. The male Luer lock has an external housing with internal threads, while the female Luer lock has the addition of an external thread added at the base of the taper. Luer Lock needle to be screwed onto the tip and securely locked in place ensuring no liquids can leak. So if looking for a more secure fitting with less chance of leakage and therefore more accurate measurement and Componentchoose the Luer lock tip.

Geographical Analysis

North America region holds the largest market share of the global closed system transfer devices market

North America is expected to have a significant market share in the closed system transfer devices market. The growth is attributed to initiatives taken by the U.S. Food and Drug Administration and other regulatory bodies in North America to ensure patient safety coupled with the increasing number of oncology drug approvals in the region. Many governments and non-government health organizations such as National Institute for Occupational Safety and Health (NIOSH) and Occupational Safety and Health Administration (OSHA) are working on creating awareness of the adverse effects due to hazardous drugs. According to a survey performed by Pharmacy Purchasing and Products magazine, approximately 49% of the hospitals and around 42% of nursing departments that responded, stated that their pharmacy departments were using CSTDs. Furthermore, the usage of closed system transfer devices to combat hazardous drugs in the region and continuous efforts by the public and private organizations are anticipated to boost regional growth.

Competitive Landscape

Closed System Transfer Devices Market is a moderately competitive presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Becton, Dickinson and Company, Caragen Ltd, Baxter International Inc., B. Braun Melsungen AG, ICU Medical, Inc., Corvida Medical, JMS CO., LTD., Equashield, LLC, Yukon Medical, LLC, Yukon Medical among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the Closed System Transfer Devices Market globally. For instance, in January 2018, Equashield announced the opening of a new $30 million manufacturing facility to accommodate future growth in product portfolio and increase production capabilities.

Becton, Dickinson, and Company

Overview:

Becton, Dickinson, and Company (BD) is a global medical technology company engaged in the development, manufacture, and sale of a range of medical supplies, devices, laboratory equipment, and diagnostic products. The Company operates through three business segments: BD Medical, BD Life Sciences, and BD Interventional.

Product Portfolio:

BD PhaSeal System: The BD PhaSeal system is a closed system drug transfer device (CSTD) that has been demonstrated to prevent exposure to hazardous drugs, from drug preparation to IV administration. It is an airtight, leak-proof system that utilizes membrane-to-membrane technology. It mechanically prohibits the transfer of environmental contaminants into the system and the escape of drug or vapor concentrations outside the system, thereby minimizing individual and environmental exposure to drug vapor aerosols and spills.

Why Purchase the Report?

• Visualize the composition of the global closed system transfer devices market segmentation by closing mechanism, technology, component, end-users, and region highlighting the key commercial assets and players.
• Identify commercial opportunities in the global closed system transfer devices market by analyzing trends and co-development deals.
• Excel data sheet with thousands of data points of global closed system transfer devices market-level 4/5 segmentation.
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the key product of all major market players

The global closed system transfer devices market report would provide access to approximately 40+ market data tables, 45+ figures, and in the range of 190 (approximate) pages.

Target Audience

• Service Providers/ Buyers
• Industry Investors/Investment Bankers
• Education & Research Institutes
• Research Professionals
• Emerging Companies
• Manufacturers

Market Segmentation

Global Closed System Transfer Devices Market- By Closing Mechanism

• Luer-Lock
• Color-to-Color
• Click-to-Lock
• Push-to-Turn

Global Closed System Transfer Devices Market- By Technology

• Diaphragm
• Compartmentalize
• Air Filtration

Global Closed System Transfer Devices Market- By Component

• Vial Access devices
• Syringe Safety devices
• Line Access devices
• Accessories

Global Closed System Transfer Devices Market- By End User

• Hospitals
• Clinics
• Other

Global Closed System Transfer Devices Market- By Region

• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• South America