Closed System Transfer Devices Market by Component, Type, Closing Mechanism, Technology, Usability, End-Use

Description

List of Tables

[195 Pages Report] The Closed System Transfer Devices Market size was estimated at USD 1.18 billion in 2023 and expected to reach USD 1.32 billion in 2024, at a CAGR 12.31% to reach USD 2.66 billion by 2030.

Closed system transfer devices (CSTDs) are designed to safely transfer medication from one reservoir to another while lowering the risk of exposure to potentially hazardous drugs or vapors to healthcare workers, patients, and the environment. These devices are integral in handling toxic substances, particularly in hospitals and healthcare settings where chemotherapy agents and other hazardous drugs are administered. The growth of the CSTD market is propelled by increasing awareness about occupational safety, stringent regulations for handling hazardous drugs, and the rising prevalence of cancer, necessitating chemotherapy treatments. However, high costs associated with adopting CSTDs can be a substaintial barrier for healthcare facilities, particularly in developing regions with more pronounced budget constraints. Additionally, the complexity of some devices may require extensive training for healthcare professionals, further impacting their widespread adoption. Opportunistic factors for the CSTD market include technological advancements and innovation, which can lead to more efficient, user-friendly, and cost-effective devices. Moreover, the expanding oncology sector worldwide presents significant opportunities for adopting CSTDs, given the critical need for safely handling chemotherapy drugs. The ongoing efforts to enhance workplace safety standards in healthcare settings across the globe further bolster the market's growth prospects, underscoring the importance of CSTDs in modern medical practices.

KEY MARKET STATISTICS
Base Year [2023]	USD 1.18 billion
Estimated Year [2024]	USD 1.32 billion
Forecast Year [2030]	USD 2.66 billion
CAGR (%)	12.31%

Component: Burgeoning use of bag access devices reduces the risk of spills or aerosolization

Bag access devices are designed to securely connect to intravenous (IV) bags. Their primary role is to safely transfer liquid medications or solutions into the IV bags without exposing healthcare workers or the surrounding environment to the medication. This is particularly important when handling medications that can be harmful if they come into contact with skin or are inhaled. Bag access devices employ a leak-proof and airtight mechanism to ensure the medication is contained within the system, reducing the risk of spills or aerosolization. Syringe safety devices are engineered to prevent needle-stick injuries, which can occur when healthcare professionals are drawing medication into a syringe or administering it to a patient. These devices come with a safety mechanism, such as a shield or a retractable needle, that activates automatically or manually. Once activated, the mechanism covers the needle, significantly reducing the risk of accidental needle-stick injuries. This protects healthcare workers and helps prevent the potential transmission of blood-borne diseases. Vial access devices are used to withdraw medication from vials safely. They ensure a sealed connection between the vial and the syringe or another closed system transfer device component. Like bag access devices, they aim to prevent exposure to hazardous drugs by providing an airtight and leak-proof transfer. These devices often come with a needle or a spike that pierces the vial's rubber stopper, allowing for safe medication withdrawal without opening the vial to the external environment.

End-Use: Evolving utilization of closed system transfer devices in oncology clinics & oncology centers

Hospitals constitute one of the primary settings where CSTDs are extensively used. The diverse and high-volume nature of drug-handling processes in hospitals necessitates stringent safety measures. CSTDs play a crucial role in protecting healthcare personnel from exposure to potentially harmful drug compounds. In a hospital setting, the utilization of CSTDs spans several departments, including pharmacies, oncology wards, and intensive care units. Oncology clinics and centers specialize in cancer treatment, where chemotherapy drugs are prevalent. Given the potent nature of chemotherapy agents and their potential adverse health effects upon exposure, employing CSTDs in these settings is crucial for the well-being of both healthcare workers and patients.

Regional Insights

In the Americas, there is a high awareness of and implementation of safety protocols in healthcare settings, including using CSTDs. Strong government regulations, such as the United States Pharmacopeia (USP) Chapter guidelines, bolstered this, which mandate using CSTDs when handling hazardous drugs. The region hosts several significant companies that manufacture and constantly innovate in the CSTD market, owing to robust funding and research initiatives. In the APAC region, the adoption of CSTDs is growing steadily, primarily driven by increasing awareness and gradually strengthening healthcare regulations. Countries such as Japan, China, and Australia are at the forefront, with governments supporting safer drug-handling practices. However, the level of government support and regulation is less comprehensive than in the Americas. European countries have shown a strong commitment to healthcare worker safety, with several nations incorporating guidelines recommending or mandating CSTDs. This has been coupled with active support from the European Union in some cases. However, the Middle East and Africa are still in the relatively early stages of adopting these devices, with varying degrees of government support and awareness. The production and availability of CSTDs in the EMEA region are primarily driven by European companies, with a growing presence of international firms looking to expand into these markets.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Closed System Transfer Devices Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Closed System Transfer Devices Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Closed System Transfer Devices Market, highlighting leading vendors and their innovative profiles. These include B. Braun AG, Baxter International Inc., Becton, Dickinson and Company, Caragen Limited, Cardinal Health, Inc., Epic Medical, Equashield LLC, Fresenius Kabi, ICU Medical, Inc., JMS Co., Ltd., Medline Industries, LP, Meissner Corporation, Nipro Corporation, Paragon Care Limited, Sartorius AG, Simplivia Healthcare Ltd., Vygon (UK) Ltd, and Yukon Medical, LLC.

Market Segmentation & Coverage

This research report categorizes the Closed System Transfer Devices Market to forecast the revenues and analyze trends in each of the following sub-markets:

Component
- Bag Access Devices
- Syringe Safety Devices
- Vial Access Devices

Type
- Membrane to Membrane Systems
- Needleless Systems

Closing Mechanism
- Click to Lock Systems
- Color to Colour Alignment Systems
- Lueker Lock Systems
- Push to Turn systems

Technology
- Air Filtration Devices
- Compartmentalize Devices
- Diaphragm Based Devices

Usability
- Reusable Devices
- Single-Use Devices

End-Use
- Hospitals
- Oncology Clinics & Oncology Centers

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Closed System Transfer Devices Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Closed System Transfer Devices Market?

3. What are the technology trends and regulatory frameworks in the Closed System Transfer Devices Market?

4. What is the market share of the leading vendors in the Closed System Transfer Devices Market?

5. Which modes and strategic moves are suitable for entering the Closed System Transfer Devices Market?

Product Code: MRR-732E7CFCB3BE

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Potential demand attributed to rising chronic diseased patients across the globe
  - 5.1.1.2. Proliferation in utilization of cytotoxic and harmful drugs for treatment of numerous diseases
  - 5.1.1.3. Emergence of advancement in closed system transfer devices
- 5.1.2. Restraints
  - 5.1.2.1. High cost associated with closed system transfer devices manufacturing
- 5.1.3. Opportunities
  - 5.1.3.1. Ongoing investments with governmental fundings to assist usage of closed system transfer devices
  - 5.1.3.2. Increasing government approvals of cancer treatments with closed system transfer devices
  - 5.1.3.3. Growing numbers of oncology treatment centres along with hospitals for cancer treatments
- 5.1.4. Challenges
  - 5.1.4.1. Lack of governmental standards coupled with less awareness among the hospital professionals
5.2. Market Segmentation Analysis
- 5.2.1. Component: Burgeoning use of bag access devices reduces the risk of spills or aerosolization
- 5.2.2. End-Use: Evolving utilization of closed system transfer devices in oncology clinics & oncology centers
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Closed System Transfer Devices Market, by Component

6.1. Introduction
6.2. Bag Access Devices
6.3. Syringe Safety Devices
6.4. Vial Access Devices

7. Closed System Transfer Devices Market, by Type

7.1. Introduction
7.2. Membrane to Membrane Systems
7.3. Needleless Systems

8. Closed System Transfer Devices Market, by Closing Mechanism

8.1. Introduction
8.2. Click to Lock Systems
8.3. Color to Colour Alignment Systems
8.4. Lueker Lock Systems
8.5. Push to Turn systems

9. Closed System Transfer Devices Market, by Technology

9.1. Introduction
9.2. Air Filtration Devices
9.3. Compartmentalize Devices
9.4. Diaphragm Based Devices

10. Closed System Transfer Devices Market, by Usability

10.1. Introduction
10.2. Reusable Devices
10.3. Single-Use Devices

11. Closed System Transfer Devices Market, by End-Use

11.1. Introduction
11.2. Hospitals
11.3. Oncology Clinics & Oncology Centers

12. Americas Closed System Transfer Devices Market

12.1. Introduction
12.2. Argentina
12.3. Brazil
12.4. Canada
12.5. Mexico
12.6. United States

13. Asia-Pacific Closed System Transfer Devices Market

13.1. Introduction
13.2. Australia
13.3. China
13.4. India
13.5. Indonesia
13.6. Japan
13.7. Malaysia
13.8. Philippines
13.9. Singapore
13.10. South Korea
13.11. Taiwan
13.12. Thailand
13.13. Vietnam

14. Europe, Middle East & Africa Closed System Transfer Devices Market

14.1. Introduction
14.2. Denmark
14.3. Egypt
14.4. Finland
14.5. France
14.6. Germany
14.7. Israel
14.8. Italy
14.9. Netherlands
14.10. Nigeria
14.11. Norway
14.12. Poland
14.13. Qatar
14.14. Russia
14.15. Saudi Arabia
14.16. South Africa
14.17. Spain
14.18. Sweden
14.19. Switzerland
14.20. Turkey
14.21. United Arab Emirates
14.22. United Kingdom

15. Competitive Landscape

15.1. Market Share Analysis, 2023
15.2. FPNV Positioning Matrix, 2023
15.3. Competitive Scenario Analysis
- 15.3.1. HMD Introduces Dispojekt: A Single-Use Syringe Enhancing Worker Safety
- 15.3.2. Innovating Pharmacy Compounding: EQUASHIELD's Launch of the Mundus Mini HD
- 15.3.3. New FDA Clearance: EQUASHIELD Syringe Unit Sets Unveils Improvements Hazardous Drug Handling
15.4. Strategy Analysis & Recommendation

16. Competitive Portfolio

16.1. Key Company Profiles
16.2. Key Product Portfolio