Closed System Transfer Device Market Size Poised to Hit USD 4,753.71 million by 2034, Driven by a 14.1% CAGR | PMR

New York, USA, Dec. 10, 2024 (GLOBE NEWSWIRE) — Market Overview

The global closed system transfer device market size is projected to grow from USD 1,098.72 million in 2024 to USD 4,753.71 million by 2034, at a CAGR of 14.1%, according to a new report by Polaris Market Research.

A closed system transfer device is a drug transfer device that mechanically prevents the transfer of ecological pollutants into the system and getting out of detrimental drug or vapor congregation outside the system. Presently, CSTDs normally ensue one of two outline notions utilizing either a tangible hurdle or an air filtering technology to prohibit the getaway of detrimental drugs into the work ambiance. When suitably utilized, CSTDs provide improved safeguarding against probable detrimental exposure to healthcare laborers during the compounding and managing of detrimental drugs.

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Key Insights from Report

• The market for closed system transfer devices is significantly shaped by their being important in healthcare settings, especially managing chemotherapy agents and alternative poisonous medicines.
• The closed system transfer device market segmentation is mainly based on type, component, technology, closing mechanism, end user, distribution channel, and region.
• Based on type, the needleless systems segment is expected to experience the highest CAGR during the forecast period.
• By region, the report provides market insights into Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.

Closed System Transfer Device Market Scope

Market’s Growth Drivers

Growing Consciousness of Occupational Security: Growing consciousness of occupational security and thrust for enhanced healthcare standards also play a notable part and growing acquire CSTDs to guarantee security and conformity to administrative needs. Also, configuring strategic alliances with healthcare donors, pharmaceutical firms, and alternate stakeholders generates contemporary avenues for development and contributes to the closed system transfer device market growth.

Growing Cases of Cancer: The market CAGR is being propelled by a growing aggregate of cancer cases worldwide. As cancer cases persists to escalate, there is an elevated demand for chemotherapy and other drugs utilized in the cure for blood cancer and others. CSTDs play an important part in this circumstance by sanctioning secure management and conveyance of these powerful medications.

Augmentation of Healthcare Facilities: The market is encountering notable growth propelled by the augmentation of healthcare facilities. As the aggregate of hospitals, outpatient clinics, and specialty cure centers persist to surge, so does the proportion of detrimental drugs managed in these cities. Contemporary and augmenting healthcare facilities are growingly acquiring CSTDs to sanction the secure and productive management of chemotherapy and other powerful medications, which are important for safeguarding healthcare laborers, patients, and the ambiance.

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List of Closed System Transfer Device Market Key Players

• B. Braun Medical Inc.
• Baxter
• BD
• Caragen Ltd.
• Cormed
• Epic Medical
• EQUASHIELD
• ICU Medical
• JMS North America Corporation
• Practivet, Inc.
• Simplivia
• Terumo Corporation
• Vygon

Geographical Analysis

North America accounted for the largest closed system transfer device market share owing to elevated healthcare standards and an extensive aggregate of healthcare facilities. The growing consciousness of drug security, administrative conformity, and growing cases of cancer and other conditions needing detrimental drug management contribute to the market’s growth.

Asia Pacific is also expected to grow at the highest CAGR during the forecast period. This is due to the growing aggregate of cancer cases, causing an elevated demand for chemotherapy and other drug cures.

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Market Segmentation

By Type Outlook

• Needleless Systems
• Membrane-to-Membrane Systems

By Component Outlook

• Vial Access Components
• Male Luers
• Bag Spikes
• Female Components
• Other Components

By Technology Outlook

• Air Cleaning/Filtration Devices
• Diaphragm-Based Devices
• Compartmentalized Devices

By Closing Mechanism Outlook

• Click-to-Lock System
• Luer Lock System
• Push-to-Turn System
• Color-to-Color Alignment System

By End User Outlook

• Hospitals
• Ambulatory Surgical Centers
• Oncology Centers & Clinics
• Academic and Research Institutes
• Others

By Distribution Channels Outlook

• Distributors
• Direct Sales

By Regional Outlook

• North America
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Netherlands
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Malaysia
  • South Korea
  • Indonesia
  • Australia
  • Vietnam
  • Rest of Asia Pacific
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Israel
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Rest of Latin America

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Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.

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