Global Closed System Transfer Devices Market Report 2021-2026 - Emerging Technologies for Rapid Detection Tests to Facilitate Routine Monitoring and Safe Handling of Hazardous Drugs

Dublin, Oct. 13, 2021 (GLOBE NEWSWIRE) -- The "Closed System Transfer Devices Market by Type (Membrane-to-Membrane, Needleless), Technology (Diaphragm Based, Compartmentalized, Filtration), Component, End User (Hospitals & Clinics, Oncology Centers), and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

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%

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.

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.

The diaphragm-based devices segment accounted for the largest share of the 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.

The vial access devices segment accounted for the largest share of the 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 the 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.

Competitive Landscape

Major players in the closed system transfer devices market include Becton, Dickinson and Company (US), ICU Medical (US), Equashield. (US), B. Braun Melsungen AG (Germany), Corvida Medical (US), Yukon Medical (US), JMS (US), CODAN Medizinische Gerate (Germany), Baxter International (US), and VICTUS (US).

Premium Insights

• The Rising Incidence of Cancer is Driving the Growth of the Closed System Transfer Devices Market

• Diaphragm-Based Devices Accounted for the Largest Share of the APAC Closed System Transfer Devices Market in 2020

• North America to Dominate the Market Throughout the Forecast Period

• China to Grow at the Highest CAGR During the Forecast Period

• Developing Markets to Register Higher Growth During the Forecast Period

Closed System Transfer Devices Market Dynamics

Drivers

• Rising Incidence of Cancer

• The Increasing Number of Oncology Drug Approvals

• Increasing Use of Cstds to Combat the Harmful Effects of Cytotoxic or Antineoplastic Drugs

• Growing Emphasis on the Implementation of Occupational Health and Safety Standards

Restraints

• High Cost of Implementation of Cstds and Lack of Reimbursement

• Lack of Compliance with Regulatory Guidelines in Developing Countries

Opportunities

• Increasing Application of Cstds in Other Therapeutic Areas

• Increasing Adoption in Emerging Economies due to Rising Healthcare Expenditure

Challenges

• Gaps with Existing Cstds

• Low Awareness Among Nurses About Cstds

Industry Trends

• Automated Compounding of Hazardous Drugs Using Robotic Systems

• Emerging Technologies for Rapid Detection Tests to Facilitate Routine Monitoring and Safe Handling of Hazardous Drugs

Companies Mentioned

• Advcare Medical

• B. Braun Melsungen

• Baxter International

• Becton, Dickinson and Company

• Caragen

• Cardinal Health

• Codan Medizinische Gerate

• Corning Incorporated

• Corvida Medical

• Edge Pharma

• Elcam Medical

• Epic Medical

• Equashield

• Eraser Medical

• ICU Medical

• Insung Medical

• JMS

• Needleless Corporation

• Practivet

• Simplivia Healthcare

• Terumo Corporation

• Victus

• Vygon Sa

• West Pharmaceuticals Services

• Yukon Medical

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