Closed Systems Drug Transfer Devices Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Closing Mechanism ; Type ; Technology ; Component ; End User, and Geography

The closed system drug transfer devices market was valued at US$ 374. 48 million in 2019 and is projected to reach US$ 1,661. 83 million by 2027; it is expected to grow at a CAGR of 20. 5% from 2020 to 2027.

New York, Oct. 21, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Closed Systems Drug Transfer Devices Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Closing Mechanism ; Type ; Technology ; Component ; End User, and Geography" - https://www.reportlinker.com/p05967877/?utm_source=GNW


Increase in adoption of chemotherapy and improvement of regulatory guidelines regarding hazardous drugs are the key factors fueling the market growth.Moreover, rising number of chemotherapeutic drug approvals is expected to foster the market growth during the forecast period.

However, the lack of regulatory guidelines regarding health workers’ safety in emerging countries hinders the growth of the closed system drug transfer devices market.Additionally, the COVID-19 outbreak has affected the market across all the regions.

At present, majority of the manufacturing companies and research institutes and centers are involved in diagnosing the coronavirus and vaccines to treat the deadly virus.Thus, the shift of medical device and research centers and diagnostics laboratories toward the COVID-19 pandemic has hindered the market growth.

It is expected that the impact of the pandemic is likely to be seen for a few years.

The closed system drug transfer device provides protection against hazardous drugs or vapors during drug preparation and administration.It comprises components which enable filtering of dangerous vapors out of the system.

Closed system drug transfer devices play a major role in protection of healthcare professionals from antineoplastic as well as other harmful medications. Growing emphasis on implementation of occupational health and safety standards by government authorities are offering lucrative opportunity for the growth of the market.
The global closed system drug transfer devices market is segmented based on closing mechanism, type, technology, component, and end user.Based on closing mechanism, the market is categorized into push-to-turn systems, luer-lock systems, color-to-color alignment systems, and click-to-lock systems.

The push-to-turn systems segment held the largest share of the market in 2019; however, the luer-lock systems segment is anticipated to register the highest CAGR during the forecast period.In terms of type, the closed system drug transfer devices market is segmented into membrane-to-membrane systems and needleless systems.

The membrane-to-membrane systems segment accounted for the largest share of the market in 2019.However, the needleless systems segment is expected to register the highest CAGR during the forecast period.

Based on technology, the closed system drug transfer devices market is categorized into diaphragm-based devices, compartmentalized devices, and air cleaning/filtration devices. The diaphragm-based devices segment held the largest share of the market in 2019. However, the compartmentalized devices segment is anticipated to register the highest CAGR during the forecast period. In terms of component, the closed system drug transfer devices market is segmented into vial access devices, syringe safety devices, bag/line access devices, and accessories. The vial access devices segment held the largest share of the market in 2019. However, the syringe safety devices segment is anticipated to register the highest CAGR during the forecast period. Based on end user, the closed system drug transfer devices market is segmented into hospitals and clinics, oncology centers, and others. The hospitals and clinics systems segment held the largest share of the market in 2019, and it is anticipated register the highest CAGR during the forecast period.
The World Health Organization (WHO), Centers for Disease Control and Prevention (CDC), and National Health Service are a few of the essential primary and secondary sources studied while preparing this report.
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