PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1724768
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1724768
The closed system transfer devices (CSTDs) market is projected to reach USD 2.09 billion by 2030, from USD 1.49 billion in 2025, at a CAGR of 7.0%.
Scope of the Report | |
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Years Considered for the Study | 2024-2030 |
Base Year | 2024 |
Forecast Period | 2024-2030 |
Units Considered | Value (USD billion) |
Segments | Component, Closing Mechanism, Type, Technology, End User, and Region |
Regions covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
With the increased consciousness and interest in the safety of healthcare workers, there is an increasing market demand for closed system transfer devices. Healthcare institutions are spending more on these devices to advance safety procedures and shield their workers against the dangers of working with unsafe drugs. This rising demand will, therefore, boost the growth of the closed system transfer devices market as healthcare facilities prioritize taking safety measures to secure their workforce.
Depending on the closing mechanism, the color-to-color alignment system segmented shall increase at the highest CAGR in the closed system transfer devices market.
On the basis of components, the vial access segment held the largest market share of the closed system transfer devices market. Vial access components have a crucial function in reducing the risk of needlestick injury among healthcare professionals and avoiding drug contamination while transferring. Additionally, ease of handling enables quick medication preparation and minimizes the risk of errors related to open systems. Thus, addressing safety and efficiency requirements, the vial access components segment is likely to drive the market.
Based on the end-user segment, the hospitals & clinics subsegment is dominated the closed system transfer devices market. In contrast to other medical facilities, hospitals and clinics have a bigger budget for medical equipment. This gives them the capability to spend on the newest CSTD technology while keeping abreast with regulations and best practices. Further, hospitals and clinics are under more rigid regulations on handling medication and employee protection. CSTDs assist them in fulfilling these needs by reducing the risk of exposure to dangerous drugs and avoiding medication errors.
North America is expected to account for the largest share of the closed system transfer devices market during the forecast period. This is due to the increased awareness by healthcare professionals towards the significance of the safe handling of drugs as well as a well-established infrastructure of healthcare and rigorous regulatory requirements. The region has been leading in the adoption of sophisticated medical technology to improve patient care and safety.
Prominent players in the closed system transfer device market are BD (US), ICU Medical, Inc. (US), EQUASHIELD (US), JMS Co. Ltd. (Japan), Baxter (US), B Braun Melsungen AG (Germany), West Pharmaceuticals Services, Inc. (US) and Terumo Corporation (Japan).
Research Coverage
The report evaluates the closed system transfer devices market and estimates the market size and future growth potential based on various segments, including closing mechanism, type, component, technology, end user, and region. The report also includes a competitive analysis of the major players in this market, along with company profiles, product offerings, recent developments, and key market strategies.
Reasons to Buy the Report
The report will assist the market leaders/new entrants with data on the nearest approximations of the revenue numbers for the overall closed system transfer devices market and the subsegments. The report will assist stakeholders in understanding the competitive landscape and gain further insights to better place their businesses and make appropriate go-to-market strategies. The report assists the stakeholders in understanding the market pulse and gives them data on influential drivers, hindrances, obstacles, and opportunities in the market.