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Global Closed Drug Transfer Systems Market 2019 by Company, Regions, Type and Application, Forecast to 2024
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Closed Drug Transfer Systems is a drug transfer device that mechanically prohibits the transfer of environmental contaminants into a system and the escape of hazardous drug or vapor concentrations outside the system, which designed to prevent the escape of hazardous drug vapors into the environment during drug reconstitution and administration.
According to this study, global revenue of Closed System Drug Transfer Device (CSTD) was valued at 463.47 M USD in 2018, and is forecast to reach 1140.91 M USD by the end of 2023. Millions of healthcare workers are exposed to chemotherapy and other hazardous drugs annually.
Studies have shown that exposure to these hazardous drugs can cause serious health problems, “such as cancer, reproductive and development problems and other adverse effects that can be irreversible even after low-level exposures,” according to the Occupational Safety & Health Administration (OSHA), National Institute of Occupational Safety & Health (NIOSH), and Joint Commission. So, Potential market is huge in the future.
United States dominated the Closed System Drug Transfer Device (CSTD), and is the largest production base. In addition to United States, there are some other production areas, such as Europe. In consumption market, North America is the mainly consumption regions due to the bigger demand of downstream applications. In 2018, North America occupied 77.4% of the global revenue in total. But the above forecast is based on the current policy. If a country suddenly made the relevant policies, then the entire market will change.
Meanwhile, the government's attitude has a huge impact on the market. However, now, only the United States and some European and Asia countries have promulgated relevant policies. But, even in these countries, the level of promotion is still relatively low.
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