Closed System Drug Transfer Devices Market Size, Share, Growth Insights and Report 2024-2031 | JMS Co Ltd, Yukon Medical, Simplivia

Closed System Drug Transfer Devices Market is the focal point of DataM Intelligence's latest market research report, offering a comprehensive analysis of this dynamic sector. This in-depth study goes beyond a basic overview, exploring the intricate dynamics that shape the market. By examining regional trends, demand patterns, and potential breakthroughs, DataM Intelligence aims to empower businesses and stakeholders with valuable insights for navigating the evolving landscape. The insights from this report can illuminate pathways for informed decision-making and drive strategic growth in Closed System Drug Transfer Devices Market.

Will the Closed System Drug Transfer Devices Market become the sector's next big opportunity? To find out, delve into the analysis and projections for Closed System Drug Transfer Devices Market. This market research study offers in-depth insights into the opportunities, challenges, and trends currently shaping the machinery landscape, enabling industry participants to make informed decisions in a dynamic environment. Take advantage of the opportunity in the Closed System Drug Transfer Devices Market! (2031)

The Global Closed System Drug Transfer Devices Market reached US$ 1.25 billion in 2023 and is expected to reach US$ 4.37 billion by 2031 growing with a CAGR of 14.8% during the forecast period 2024-2031.

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Closed System Drug Transfer Devices (CSTDs) are specialized medical devices designed to prevent the escape of hazardous drugs, such as chemotherapy agents, into the environment during preparation, administration, and disposal. These systems create a sealed environment to protect healthcare workers from exposure to toxic substances by minimizing drug aerosolization, contamination, and leakage. CSTDs function by equalizing pressure within the system, ensuring that no air or liquid can escape, which also helps maintain drug sterility.

Commonly used in oncology and other settings where hazardous drugs are handled, CSTDs reduce the risk of accidental exposure, contamination, and workplace hazards associated with handling cytotoxic medications. They are integral to improving safety for healthcare providers and maintaining drug integrity throughout the medication delivery process. CSTDs are endorsed by safety organizations and regulatory bodies as a key measure in safe drug handling practices.

Key Growth Drivers in Closed System Drug Transfer Devices Market:

The rising prevalence of cancer and advancements in technology are key drivers for the global closed system drug transfer devices (CSTDs) market. As cancer cases surge globally, the demand for chemotherapy and other hazardous drugs has increased significantly. Closed system drug transfer devices are critical for protecting healthcare workers from exposure to these potent medications, especially chemotherapy drugs, which pose serious health risks if mishandled.

According to the World Health Organization (WHO), in 2022, approximately 20 million new cancer cases were reported worldwide, resulting in around 9.7 million deaths. The most prevalent cancers included lung cancer, accounting for 12.4% of all cases (2.5 million), breast cancer at 11.6% (2.3 million), and colorectal cancer at 9.6% (1.9 million). Lung cancer was also the leading cause of cancer-related deaths, with 1.8 million fatalities, followed by colorectal cancer (900,000 deaths) and liver cancer (760,000 deaths). With cancer cases projected to rise to 35 million by 2050, largely due to population growth, the need for safe handling of hazardous drugs through CSTDs is expected to increase.

In addition to the rising cancer incidence, technological advancements in CSTDs are further driving market growth. Innovations such as needle-free systems and enhanced sealing mechanisms have improved the usability and safety of these devices, making them more efficient in healthcare settings. These advancements, combined with efforts by key players in the industry to raise awareness and develop safer systems, are bolstering the adoption of CSTDs.

For example, in September 2022, during the Formulation UK 2021 event, Héloïse Audat, Drug Product Team Leader at Sanofi, presented the company's approach to evaluating CSTDs, emphasizing their importance in protecting healthcare workers. The first regulations governing CSTDs emerged in 2004, underscoring the need to minimize healthcare workers' exposure to hazardous drugs. With continuous advancements and growing awareness, the CSTDs market is expected to witness robust growth in the coming years.

DataM Intelligence profiles some of the most reputed organizations present in the Closed System Drug Transfer Devices market. They are as follows: BD, ICU Medical, Inc., EQUASHIELD, B. Braun Medical Inc., Yukon Medical, Simplivia, West Pharmaceutical Services, Inc., Baxter International Inc., JMS Co.Ltd., and Corning Incorporated.

Segment Covered in the Closed System Drug Transfer Devices Market:

By Type (Membrane-to-Membrane Systems, Needleless Systems)

By Component (Vial Access Devices, Syringe Safety Devices, Bag Spikes, Male and Female Luer Components)

By Closing Mechanism (Click-to-Lock Systems, Luer-Lock Systems, Push-to-Turn, Color-to-Color Systems)

By Technology (Diaphragm-Based Devices, Air Filtration Devices)

By End-User (Hospitals, Oncology Clinics and Centers, Others)

Regional Analysis:

The global Closed System Drug Transfer Devices Market report focuses on six major regions: North America, South America, Europe, Asia Pacific, the Middle East, and Africa.

Key Developments

In April 2023, EQUASHIELD, a leading provider of closed system transfer devices (CSTDs) for hazardous drugs, announced that its EQUASHIELD Syringe Unit has received FDA clearance for full-volume use. This means the system's closed Syringe Unit prevents intended and unintended syringe plunger detachment and can be used safely up to its maximal nominal volume when handling hazardous drugs.

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Regional Analysis:

The global Closed System Drug Transfer Devices Market report focuses on six major regions: North America, South America, Europe, Asia Pacific, the Middle East, and Africa. The report offers detailed insight into new product launches, new technology evolutions, innovative services, and ongoing R&D. The report discusses a qualitative and quantitative market analysis, including PEST analysis, SWOT analysis, and Porter's five force analysis. The Closed System Drug Transfer Devices Market report also provides fundamental details such as raw material sources, distribution networks, methodologies, production capacities, industry supply chain, and product specifications.

Points Covered:

⏩ Market Overview: It contains five chapters, as well as information about the research scope, major manufacturers covered, market segments, Closed System Drug Transfer Devices market segments, study objectives, and years considered.

⏩ Market Landscape: The competition in the Global Closed System Drug Transfer Devices Market is evaluated here in terms of value, turnover, revenues, and market share by organization, as well as market rate, competitive landscape, and recent developments, transaction, growth, sale, and market shares of top companies.

⏩ Companies Profiles: The global Closed System Drug Transfer Devices market's leading players are studied based on sales, main products, gross profit margin, revenue, price, and growth production.

⏩ Market Outlook by Region: The report goes through gross margin, sales, income, supply, market share, CAGR, and market size by region in this segment. North America, Europe, Asia Pacific, Middle East & Africa, and South America are among the regions and countries studied in depth in this study.

⏩ Market Segments: It contains the deep research study which interprets how different end-user/application/type segments contribute to the Closed System Drug Transfer Devices Market.

⏩ Market Forecast: Production Side: In this part of the report, the authors have focused on production and production value forecast, key producers forecast, and production and production value forecast by type.

⏩ Research Findings: This section of the report showcases the findings and analysis of the report.

⏩ Conclusion: This portion of the report is the last section of the report where the conclusion of the research study is provided.

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FAQ's

Q.1. What are the primary drivers of the Closed System Drug Transfer Devices Industry?

Q.2. What are the main factors propelling and impeding the growth of the Closed System Drug Transfer Devices market?

Q.3. What are the general structure, risks, and opportunities of the market?

Q.4. How do the prices, revenue, and sales of the leading Closed System Drug Transfer Devices market firms compare?

Q.5. What are the main segments of the market and how is it divided up?

Q.6. Which companies dominate the market, and what percentage of the market do they control?

Q.7. What trends are influencing the Closed System Drug Transfer Devices market now and in the future?

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