Closed System Transfer Devices Market to Maintain Healthy CAGR of of 18.0% In Coming Years

The global closed system transfer devices market was valued at USD 785.9 million in 2018 and is expected to reach USD 2,988.5 million in 2026, growing at a CAGR of 18.0% during the forecast period.

Worker exposure to chemotherapy and other hazardous drugs during preparation and administration has been a major concern for over decades. Guidelines for safer handling of these hazardous drugs are posed by the Oncology Nursing Society, the American Society of Health-System Pharmacists, among others. These healthcare groups have advocated personal protective equipment and safe work practices for reducing worker exposure to such hazardous drugs. CSTD can be considered as one such device that can play an increasing role in many health systems as part of an overall approach to reduce occupational exposure to hazardous drugs.

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As per the report published by the World Health Organization (WHO), cancer is the second leading cause of mortalities in 2018, with a continuous rise in the number of cancer patients across the globe. Furthermore, it is estimated that one out of six deaths occurs due to cancer every year across the globe. As per WHO, nearly one-third of the mortalities from cancer are due to five leading behavioral and dietary risk, which includes low fruit and vegetable intake, high body mass index, lack of physical activity, alcohol consumption, and tobacco use. According to World Health Organization (WHO), in 2018, around 18.1 million cases of cancer and nearly 9.6 million mortalities were recorded across the globe. Such increasing prevalence of cancer is posing the requirement of safe and effective devices, such as CSTD, for reducing drug exposure.

Key Findings:
-Based on the closing mechanism, the push-to-turn CSTD segment is accounted for the largest share in the market in 2018
-Based on product type, the membrane-to-membrane system segment is expected to grow at the highest CAGR of around 25% during the forecast period
-Based on technology, the diaphragm devices segment accounted for around 48% share in the global closed system transfer devices market in 2018
-North America accounted for around 40% market share of the global closed system transfer devices market in 2018

Recent News:
-In 2018, Equashield LLC signed a partnership agreement with Max Care Medical, a Saudi Arabia-based company, to distribute its CSTDs in Saudi Arabia and other economies of the Middle East and Africa.
-In 2018, Baxter International Inc. launched Arisure CSTD to aid the prevention of hazardous drug exposure and preserve medication sterility.
-In 2017, Equashield LLC launched Equashield Pro, a compounding Robot CSTD.

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