Closed System Transfer Devices Market by Type, Technology, Component, End User And Region - Global Forecast to 2026

The closed system transfer devices (CSTDs) market is projected to reach USD 2,002 million by 2026 from USD 814 million in 2021, at a CAGR of 19. 7% during the forecast period. Market growth is largely driven by the harmful effects (lingering role) of cytotoxic drugs, rising incidence of cancer, an increasing number of oncology drug approvals, and improving regulatory guidelines regarding the safe handling of hazardous drugs.

New York, Oct. 13, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Closed System Transfer Devices Market by Type, Technology, Component, End User And Region - Global Forecast to 2026" - https://www.reportlinker.com/p05744695/?utm_source=GNW


Colour-to-colour alignment system is expected to witness the fastest growth in the forecast period.
Based on the closing mechanism, the market is segmented into Luer-lock systems, color-to-color alignment systems, click-to-lock systems, and push-to-turn systems. In 2020, the Luer-lock systems segment accounted for the highest share of 32.5% of the market. This segment is expected to reach USD 636.8 million by 2026 from USD 264.1 million in 2021, at a CAGR of 19.2%. However, the color-to-color alignment systems segment is expected to grow at the highest rate because of its higher efficiency due to pressure equalization mechanisms and low cost.

Membrane-to-membrane systems is expected to witness the fastest growth in the forecast period.
Based on device type, the market is segmented into membrane-to-membrane systems and needleless systems. In 2020, the membrane-to-membrane systems segment accounted for the largest share of 71.01% of the CSTDs market. This segment is expected to reach USD 1,488.9 million by 2026 from USD 583.1 million in 2021, at a CAGR of 20.6%. The large share and high growth of this segment are attributed to their ease of operation and lower risk of contamination associated with double-membrane containment systems.

Diaphragm-based devices segment accounted for the largest share of closed system transfer devices market in 2020
Based on technology, the CSTDs market is segmented into diaphragm-based devices, compartmentalized devices, and air cleaning/filtration devices. In 2020, the diaphragm-based devices segment accounted for the largest share of 43.63% of the market. This segment is expected to reach USD 829.4 million by 2026 from USD 353.1 million in 2021, at a CAGR of 18.6%. 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 23.8% during the forecast period due to their lower cost.

Vial access devices segment accounted for the largest share of closed system transfer devices market in 2020
Based on components, the CSTDs market is segmented into vial access devices, syringe safety devices, bag/line access devices, and accessories. In 2020, the vial access devices segment accounted for the largest share of 33.08% of the market. The large share of this segment is mainly due to the increasing adoption of CSTD products and vial access devices by oncology nurses to transfer hazardous drugs from packaged vials to the infusion bag or the patient.

Hospitals & Clinics accounted for the largest share of closed system transfer devices market in 2020
Based on end users, the market is segmented into hospitals & clinics, oncology centers, and other end users. In 2020, hospitals & clinics accounted for the largest share of 84.41% of the CSTDs market. The large share and high growth of this segment are mainly due to the strong financial capabilities of hospitals for purchasing high-priced CSTDs, the large cancer patient pool, and the need to comply with regulatory guidelines.

North America accounted for the largest share of the closed system transfer devices market in 2020
In 2020, North America accounted for the largest share of the market.The market in North America is characterized by easy accessibility to advanced technologies, high awareness about CSTD among oncologists, nurses, and pharmacists, the presence of many CSTD manufacturing players in this region, and the high incidence and prevalence of cancer.

However, the APAC market is expected to witness the highest CAGR of 22.1% during the forecast period. The rising incidence of cancer, increasing demand for better healthcare services in developing economies, and increasing focus of international players on emerging markets such as India and China drive the growth of the Asia Pacific market.

A breakdown of the primary participants (supply-side) for the closed system transfer devices market referred to for this report is provided below:
• By Company Type: Tier 1–42%, Tier 2–37%, and Tier 3–21%
• By Designation: C-level–39%, Director Level–33%, and Others–28%
• By Region: North America–64%, Europe–17%, Asia Pacific–7%, Latin America- 6%, and Middle East and Africa– 6%
Some of the key players in the closed system transfer device market are Becton, Dickinson and Company (US), ICU Medical (US), B Braun Melsungen (Germany), JMS (Japan), Equashield (US), Baxter International (US), West Pharmaceuticals Services (US), Simplivia Healthcare (Israel), Corvida Medical (US), Yukon Medical (US), CODAN Medizinische Geräte GmbH & Co KG (Germany), Victus (US), Caragen (Ireland), Vygon SA (US), Practivet (US), Corning Incorporated (US), Terumo Corporation (Japan), Cardinal Health (US), Eraser Medical (Turkey) and Insung Medical (South Korea) among others. The study includes an in-depth competitive analysis of these key players in the closed system transfer devices market, along with their company profiles, recent developments, and key market strategies.

Research Coverage:
The market study covers the closed system transfer devices market across various segments.It aims at estimating the market size and the growth potential of this market across different segments by closing mechanism, type, component, technology, end user, and region.

The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report:
The report will help market leaders/new entrants in this market and provide information regarding the closest approximations of the closed system transfer devices market and its segments.This report will help stakeholders understand the competitive landscape, gain insights to position their businesses better, and plan suitable go-to-market strategies.

The report will also help stakeholders in understanding the pulse of the market and gaining information on key market drivers, restraints, opportunities, and challenges.
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