Closed System Transfer Devices Market SWOT Analysis, Dynamics, Drivers and Key Indicators | B. Braun Melsungen AG, Becton, Equashield LLC, Corvida Medical

The Closed System Transfer Devices Market is projected to reach USD 982 million by 2027 from USD XX million in 2020, at a CAGR of 20.3%.

The Latest released survey report on Global Closed System Transfer Devices Market aims to deliver an in-depth outline regarding the trends and market development scenario to outpace market with relevant strategies. To drive profitable and sustainable growth, Closed System Transfer Devices manufacturers need to develop strategies to appeal to consumers and leverage technology to enhance end users experience. A wide list of manufacturers are considered in the survey with company profiling of ICU Medical Inc., Baxter International, Inc., Simplivia, B. Braun Melsungen AG, Becton, Dickinson and Company, Equashield LLC, Corvida Medical, Yukon Medical, Caragen Ltd., and JMS Co. Ltd..

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Market Analysis:
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• E-mail survey and many more…

Market Research Methodology:

We define the research problem: The step defining the research problem exists of two main steps:
• Formulating the problem
• Establishing research objectives

Selecting and Establishing Research Design:
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• Select the research design
• Identify information types and sources
• Determine and design research instrument

MarketDigits offers four types of research design:
• Exploratory research design
• Descriptive research
• Quantitative research
• Causal research

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Growth in this market is mainly driven by the rising prevalence of cancer, increasing number of oncology drug approvals, increasing use of closed system transfer devices to combat the harmful effects of cytotoxic or antineoplastic drugs, and improving regulatory guidelines regarding the safe handling and use of hazardous drugs.

The membrane-to-membrane systems segment is expected to account for the largest share of the closed system transfer devices market in 2019

On the basis of type, the membrane-to-membrane systems segment is expected to account for the largest share of the market in 2019. The large share and high growth of this segment can be attributed to their ease of operation and the lower risk of contamination associated with double-membrane containment systems. Also, these systems use a double membrane junction between the syringe and the medication vial or container to help isolate medications. This double membrane containment system provides an added layer of protection compared to needleless membranes, which boosts growth in this segment.

The diaphragm-based devices segment is expected to account for the largest share of the market in 2019

Based on technology, the diaphragm-based devices segment accounted for the largest share of the market. The large share of this segment is mainly due to the ease of operation and safety provided by these devices. The compartmentalized devices segment is expected to grow at the highest CAGR of 23.6% during the forecast period due to their lower cost.

The hospitals segment accounted for the largest share of the closed system transfer devices market in 2019

Based on end user, the hospitals segment is expected to account for the largest share of the market in 2019. The large share and high growth of this segment are mainly due to the strong financial capabilities of hospitals for purchasing high-priced CSTDs as compared to oncology centers and clinics, large cancer patient pool, and the increasing need to comply with the regulatory guidelines established by the FDA and NIOSH regarding the safety of healthcare providers.

Asia Pacific is expected to grow at the highest CAGR during the forecast period

The market in the Asia Pacific is expected to grow at the highest CAGR during the forecast period. This is due to the rising incidence of cancer and the increasing demand for better healthcare services in developing economies such as India and China. In addition, the increasing focus of international players on emerging markets is further expected to drive the growth of this market in the APAC.

Prominent players in the global closed system transfer devices industry are Becton, Dickinson and Company (US), ICU Medical, Inc. (US), Equashield LLC. (US), B. Braun Melsungen AG (Germany), Corvida Medical (US), Yukon Medical (US), JMS Co., Ltd. (US), CODAN Medizinische Geräte GmbH & Co KG (Germany), Baxter International, Inc. (US), VICTUS (US), and Caragen Ltd. (Ireland).

Closed System Transfer Devices Market : Scope of the Report:

The research report categorizes the market into the following segments and subsegments:

Closed System Transfer Devices Market, by Closing Mechanism

Push-to-turn Systems
Color-to-color Alignment Systems
Luer-lock Systems
Click-to-lock Systems

Closed System Transfer Devices Market, by Type

Membrane-to-membrane Systems
Needleless Systems

Closed System Transfer Devices Market, by Component

Vial Access Devices
Syringe Safety Devices
Bag/Line Access Devices
Accessories

Closed System Transfer Devices Market, by Technology

Diaphragm-based Devices
Compartmentalized Devices
Air Cleaning/Filtration Devices

Closed System Transfer Devices Market, by End User

Hospitals
Oncology Centers & Clinics
Other End Users

Closed System Transfer Devices Market, by Region

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Closed System Transfer Devices Market Recent Developments

In 2018, Equashield LLC. (US) entered into a partnership with Max Care Medical (Saudi Arabia) to distribute its CSTDs in Saudi Arabia as well as the wider Middle East and Africa region.

In 2017, Equashield LLC. (US) launched Equashield Pro, a compounding Robot CSTD.

In 2017, ICU Medical, Inc. (US) acquired Medical Australia Limited to improve the distribution of its infusion therapy consumable products to the healthcare sector in Australia and New Zealand.

In 2017, ICU Medical, Inc. (US) signed an agreement with Terumo Corporation (Japan). According to this agreement, Terumo will distribute ICU’s IV therapy and CSTD products in Japan and other countries across Asia.

In 2017, Becton, Dickinson and Company (US) expanded its manufacturing site at Nebraska, US.

Some of the features of this Closed System Transfer Devices Market report:

Market size estimates: Closed System Transfer Devices market size estimation in terms of value ($M) shipment.Trend and forecast analysis: Market trend (2015-2020) and forecast (2021-2027) by end use and use industry.

Segmentation analysis: Closed System Transfer Devices market size by application and headset in terms of value and volume shipment.

Regional analysis: Closed System Transfer Devices market breakdown by key regions such as North America, Europe, and Asia & Rest of World.

Growth opportunities: Analysis on growth opportunities in different applications and regions in the Closed System Transfer Devices market.

Strategic analysis: This includes M&A, new product development, and competitive landscape in the Closed System Transfer Devices market.

Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

This report would help you answer the following questions:
1. What is the market size and forecast of the Global  Closed System Transfer Devices Market?
2. What are the inhibiting factors and impact of COVID-19 shaping the Global  Closed System Transfer Devices Market during the forecast period?
3. Which region outstands in the Global  Closed System Transfer Devices Market?
4. Which are the segments to invest in over the forecast period in the Global  Closed System Transfer Devices Market?
5. What is the competitive strategic window for opportunities in the Global  Closed System Transfer Devices Market?
6. What are the technology trends and regulatory frameworks in the Global  Closed System Transfer Devices Market?
7. What are the major company in the Global  Closed System Transfer Devices Market?

Table of Contents:
1 Introduction
2 Research Methodologies
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Compliance in Closed System Transfer Devices Market
8 Closed System Transfer Devices Market, By Service
9 Closed System Transfer Devices Market, By Deployment Type
10 Closed System Transfer Devices Market, By Organization Size
11 Closed System Transfer Devices Market Analyses, By Vertical
12 Geographic Analyses
North America
Europe
Asia-Pacific
South America
Middle East & Africa
13 Competitive Landscapes
14 Detailed Company Profiles
15 Related Reports

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This release was published on openPR.