Closed System Drug Transfer Device (CSTD) Market to Reach $3.6 Billion, Globally, by 2033 at 15.7% CAGR: Allied Market Research
Rise in incidence of cancer, enhanced focus on worker safety, and technological advancements are the major factors which drive the global market growth.
/EIN News/ -- Wilmington, Delaware, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Closed System Drug Transfer Device (CSTD) Market by Type (Membrane to membrane and Needleless), Component (Barrier type CSTDs and Air cleaning CSTDs), and End User (Hospitals and Clinics, Oncology Centers and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the closed system drug transfer device (CSTD) market was valued at $0.8 billion in 2023, and is estimated to reach $3.6 billion by 2033, growing at a CAGR of 15.7% from 2024 to 2033.
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Prime determinants of growth
Increasing prevalence of cancer cases and growing focus on worker safety are the major factors that drive the growth of the Closed System Drug Transfer Device (CSTD) market. However, high cost and maintain ace of devices hinders the market growth. Moreover, increased awareness of health risks offers remunerative opportunities for the expansion of the global Closed System Drug Transfer Device (CSTD) Market.
Report coverage & details
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $0.84 billion |
| Market Size in 2033 | $3.61 billion |
| CAGR | 15.7% |
| No. of Pages in Report | 216 |
| Segments Covered | Type, Component, End User, and Region |
| Drivers |
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| Opportunities |
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| Restraints |
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Segment Highlights
Membrane-to-membrane Closed System Drug Transfer Devices (CSTDs)
By type, Membrane-to-membrane Closed System Drug Transfer Devices (CSTDs) use a sealed, barrier membrane to connect two drug containers, ensuring that no contaminants enter or escape during drug transfer. This design minimizes exposure to hazardous drugs and protects healthcare workers from potential risks while maintaining sterile conditions.
Diaphragm based Component is preferred in Closed System Drug Transfer Devices (CSTDs)
By Component, Diaphragm-based Component in Closed System Drug Transfer Devices (CSTDs) is preferred due to its ability to provide a robust barrier against contamination and ensure secure drug transfer. The diaphragm acts as a seal between drug containers, preventing leaks and exposure to hazardous substances. This design enhances safety for healthcare workers and maintains the sterility of the medication.
Hospitals and clinics are the important end users of closed system drug transfer device (CSTD) 's
By end user, hospitals and clinics are key end users of Closed System Drug Transfer Devices (CSTDs) due to their critical role in handling and administering hazardous drugs. CSTDs are essential in these settings to protect healthcare workers from exposure to toxic substances, maintain drug sterility, and ensure patient safety. Their use is crucial for compliance with safety regulations and improving overall clinical outcomes.
Regional Outlook
Region wise, the Closed System Drug Transfer Device (CSTD) Market is expanding globally, with North America and Europe leading due to stringent regulations and high adoption rates. Asia-Pacific is witnessing significant growth driven by increasing healthcare infrastructure and rising awareness. Latin America and the Middle East are emerging markets, experiencing gradual adoption as regulatory frameworks strengthen and healthcare investments increase.
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Key Players
- B. Braun Holding GmbH & Co. KG
- Baxter International
- Becton, Dickinson and Company
- Caragen Ltd.
- Corvida Medical
- Equashield
- FIMI Opportunity Funds (Simplivia Healthcare)
- ICU Medical
- JCB Co Ltd. (JMS Co Ltd.)
- Yukon Medical
The report provides a detailed analysis of these key players in the global Closed System Drug Transfer Device (CSTD) Market. These players have adopted different strategies such as product launch, expansion, partnership, collaboration and others, to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Recent Developments in Closed System Drug Transfer Device (CSTD) Market Worldwide
- In December 2021, B. Braun Medical Inc., a leading provider of Closed System Drug Transfer Devices (CSTD), announced that the OnGuard 2 CSTD is now available in the U.S. OnGuard 2 incorporates all the current advantages of OnGuard, while offering upgraded materials and enhanced features to improve its usability.
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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