Global Closed System Transfer Devices Market Overview And Statistics For 2024-2033

The Business Research Company's Closed System Transfer Devices Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LANDON, GREATER LANDON, UK, July 26, 2024 /EINPresswire.com/ -- The closed system transfer devices market has experienced robust growth in recent years, expanding from $0.91 billion in 2023 to $1.04 billion in 2024 at a compound annual growth rate (CAGR) of 14.2%. The growth in the historic period can be attributed to increased oncology drug approvals, rise in focus on occupational safety, rise in need to curb needlestick injuries and exposure to hazardous drugs, increased awareness about potential dangers of cytotoxic drug exposure, growth in chemotherapy patient population.

Strong Future Growth Anticipated

The closed system transfer devices market is projected to continue its strong growth, reaching $1.78 billion in 2028 at a compound annual growth rate (CAGR) of 14.3%. The growth in the forecast period can be attributed to increasing occurrence of cancer, increasing need for monitoring compliance for safe management of injurious drugs, growing awareness regarding usage of closed system transfer devices, rising implementation of CSTDS for transporting hazardous medications, escalating quantity of drug sanctions for cancer.

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Growth Driver Of The Closed System Transfer Devices Market

The increasing occurrence of cancer is expected to propel the growth of the closed-system transfer devices market going forward. Cancer is a disease characterized by an uncontrolled division of abnormal cells, which can invade nearby tissues and spread to other body parts through the blood and lymph systems. The cases of cancer are on the rise due to various factors, such as lifestyle factors, environmental exposures, and increased infections. Closed-system transfer devices are essential tools in cancer treatment, protecting healthcare workers and patients from the risks associated with handling and administering chemotherapy drugs. Their use contributes to a safer healthcare environment and better treatment outcomes for cancer patients.

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Major Players And Market Trends
Key players in the closed system transfer devices market include Cardinal Health Inc., Becton Dickinson and Company, Baxter International Inc., Corning Incorporated.

Major companies operating in the closed-system transfer devices market are developing innovative closed-system transfer devices. Next-generation closed system transfer devices represent a proactive approach to addressing the evolving needs and challenges associated with the safe handling and administration of hazardous drugs in healthcare settings.

Segments:

1) By Type: Needleless Systems, Membrane-To-Membrane Systems
2) By Technology: Diaphragm-Based, Compartmentalized, Filtration
3) By Closing Mechanism: Color-To-Color Alignment Systems, Push-To-Turn Systems, Click-To-Lock Systems, Luer-Lock Systems
4) By End User: Hospitals And Clinics, Oncology Centers, Other End Users

Geographical Insights: North America Leading The Market

North America was the largest region in the closed system transfer device market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the closed system transfer devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Closed System Transfer Devices Market Definition

Closed system transfer devices (CSTDs) are specialized drug transfer devices designed to mechanically prevent environmental contaminants from entering the system and to stop hazardous drugs or vapor concentrations from escaping. These devices create a closed, leak-proof system to ensure the safe handling of hazardous substances in healthcare environments.

Closed System Transfer Devices Global Market Report 2024 from The Business Research Company covers the following information:

• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Closed System Transfer Devices Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on closed system transfer devices market size, closed system transfer devices market drivers and trends, closed system transfer devices market major players, closed system transfer devices competitors' revenues, closed system transfer devices market positioning, and closed system transfer devices market growth across geographies. The closed system transfer devices market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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