Global Closed System Drug Transfer Device (CSTD) Market Size Study, by Type (Barrier Type, Filtration Type), by Closing Mechanism (Push to Turn System, Color-to-Color Alignment System, Leur Lock Systems, Others), by Component (Vial Access Devices, Syringe

Global Closed System Drug Transfer Device (CSTD) Market Size Study, by Type (Barrier Type, Filtration Type), by Closing Mechanism (Push to Turn System, Color-to-Color Alignment System, Leur Lock Systems, Others), by Component (Vial Access Devices, Syringe Safety Devices, Bag/Infusion Set Devices, Others), by Technology (Compartmentalize Devices, Diaphragm-based Devices, Air Filtration Devices), by End User (Hospitals & Clinics, Specialty Centers, Others), and Regional Forecasts 2022-2032

Global Closed System Drug Transfer Device (CSTD) Market is valued at approximately USD 874.23 million in 2023 and is anticipated to grow with a healthy growth rate of more than 17.32% over the forecast period 2024-2032. Closed System Drug Transfer Devices (CSTDs) play a critical role in mitigating exposure to hazardous drugs during preparation and administration, making them indispensable in modern healthcare settings. CSTDs effectively prevent the escape of hazardous drugs and vapor concentrations outside the system, thus ensuring safety for healthcare professionals and patients. The market's growth can be attributed to the increasing prevalence of chronic diseases, particularly cancer, which necessitates the use of potent and hazardous drugs, thus driving the demand for CSTDs.

The increasing use of hazardous drugs in healthcare settings is driving the demand for the Closed System Drug Transfer Device (CSTD) market. Hazardous drugs, including chemotherapy agents, antiviral drugs, and bioengineered medications, pose significant risks to healthcare workers due to their toxic nature. To mitigate these risks, CSTDs are essential as they prevent the escape of hazardous drug vapors and liquids during preparation, administration, and disposal processes. The growing awareness of occupational safety and stringent regulations by health authorities, such as the Occupational Safety and Health Administration (OSHA) and the National Institute for Occupational Safety and Health (NIOSH), have further propelled the adoption of CSTDs. Additionally, the increasing incidence of cancer and other chronic diseases requiring hazardous drug treatments has led to a higher volume of drug handling, thus boosting the demand for CSTDs to ensure a safe working environment for healthcare professionals.

The key region in the Global Closed System Drug Transfer Device (CSTD) Market includes North America, Asia Pacific Europe, Latin America, and Middle East & Africa. In 2023, North American region dominates the CSTD market in terms of revenue, driven by the increasing prevalence of cancer and robust research and development infrastructure. Additionally, Europe showcases substantial growth, propelled by its advanced healthcare industry and prominent research initiatives. The Asia-Pacific region is poised for significant growth, fueled by the increasing number of new vendors and the rising prevalence of chronic diseases. Countries such as China and India are anticipated to play pivotal roles in this growth trajectory.

Major market player included in this report are:

Becton, Dickinson and Company

BRAUN SE

Epic Medical

JMS Co. Ltd

Equashield

ICU Medical, Inc

Yukon Medical

Simplivia Healthcare, Ltd.

Caragen Ltd

Corvida Medical

Baxter International Inc.

Teva Pharmaceutical Industries Ltd.

Pfizer Inc.

Novartis AG

Sanofi S.A.

The detailed segments and sub-segment of the market are explained below:

By Type:

Barrier Type

Filtration Type

By Closing Mechanism:

Push to Turn System

Color-to-Color Alignment System

Leur Lock Systems

Others

By Component:

Vial Access Devices

Syringe Safety Devices

Bag/Infusion Set Devices

Others

By Technology:

Compartmentalize Devices

Diaphragm-based Devices

Air Filtration Devices

By End User:

Hospitals & Clinics

Specialty Centers

Others

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of Latin America

Middle East & Africa

Saudi Arabia

South Africa

RoMEA

Years considered for the study are as follows:

Historical year – 2022

Base year – 2023

Forecast period – 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.

Annualized revenues and regional level analysis for each market segment.

Detailed analysis of geographical landscape with Country level analysis of major regions.

Competitive landscape with information on major players in the market.

Analysis of key business strategies and recommendations on future market approach.

Analysis of competitive structure of the market.

Demand side and supply side analysis of the market.

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