Closed System Transfer Devices Market Demand Growth Size Analysis 2022-2029

The Closed System Transfer Devices Market is expected to grow at a CAGR of 18.5% during the forecast period 2022-2029. North America region has the highest market share in the Closed System Transfer Devices Market, and it is further continuing its dominance during the forecast period.

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Our research report gives wide perceptions of the latest trends and development prospects of the market analysis, detailed segmentation analysis, volume, size, share, growth drives, and opportunities in the market. In-depth regional and country-level illustration of the competitive landscape depends on several phases and status of clinical trials over the prominent economies of the globe, and also report contains a number of major companies profiled in the relevant market.

Market Drivers:

The growing number of oncology drug approvals, improved regulatory guidelines for the safe handling and use of hazardous drugs, and technological advancements are the primary factors driving market expansion. The World Cancer Research Fund estimates that approximately 50 million people worldwide have some form of cancer in 2017.

In 2012, the worldwide cumulative five-year prevalence of all cancers was estimated to be 32.6 million. A list of guidelines for safer handling of hazardous drugs has been developed by a number of government agencies, including ASHP, The Oncology Nursing Society, and The Occupational Safety and Health Administration, among others. This has led to an increase in the utilization of closed drug transfer systems. The market participants are constantly introducing novel devices or line extensions of existing products with cutting-edge features and technologies. For instance, the majority of the most recent CSTDs feature cutting-edge locking mechanisms that reduce the likelihood of coming into contact with dangerous drugs like ChemoClave and ChemoLock.

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Market Segmentation:

By Closing Mechanism:
• Luer-Lock
• Color-to-Color
• Click-to-Lock
• Push-to-Turn

By Technology:
• Diaphragm
• Compartmentalize
• Air Filtration

By Component:
• Vial Access devices
• Syringe Safety devices
• Line Access devices
• Accessories

By End User:
• Hospitals
• Clinics

Geographical Classification:
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East
• Africa

Major Companies Listed:
BD Medical, Inc., ICU Medical, Inc., Equashield, LLC, Corvida Medical and Teva Medical Ltd.

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DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year, we have secured more than 100 unique customers from established organizations all over the world.

We monitor and analyse the market by dissecting various market influencers, competitive intensity, innovations, trends, and emerging products. This aids us in providing a detailed scenario of the present and future of the market.

This release was published on openPR.