Closed System
Transfer Devices (CSTD) Market: Introduction
According to the report,
the global closed system transfer devices (CSTD)
market
Closed System
Transfer Devices (CSTD) Market Dynamics
In terms of product, the
global closed system transfer devices (CSTD) market has been divided into
systems (needle free systems and needle systems), component (vial adaptors and
syringe adaptors), tubing sets and accessories. New closed system transfer
devices are easy to operate and integrate into practice, are designed to reduce
waste, help make implementations easier, and reduce confusion. These factors
are expected to drive the segment. Based on application, the global closed
system transfer devices (CSTD) market has been categorized into pharmacy,
nursing, and veterinary. Increase in awareness to avoid occupational exposure
to drugs and availability of new closed system transfer devices in hospital
pharmacies are likely to drive the pharmacy segment during the forecast period.
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Pharmaceuticals and
biotechnology are large components of the healthcare system. Prices of drugs
continue to rise every year, especially intravenous antineoplastic agents,
cytotoxic antibiotics, alkylating drugs, and monoclonal antibodies. In 2017,
the global sales of oncology-related medications stood at around US$ 133 Bn,
with nearly US$ 50 Bn sales in the U.S. Devices such as closed system transfer
devices increase the lifeline of drugs by preserving the sterility of single
use medication vials for up to at least 1 week by preventing contamination.
According to the U.S. Pharmacopeia Chapter 797 (USP 797),
single-use vials should be used within six hours of opening, if maintained in
an International Organization for Standardization (ISO) 5 environment.
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North America to
Dominate Global Market
The global closed system
transfer devices (CSTD) market has been segmented into five major regions:
North America, Europe, Asia Pacific, Latin America, and Middle East &
Africa. North America accounted for major share of the global closed system
transfer devices (CSTD) market in 2019. Exposure to hazardous drugs can result
in adverse health effects in healthcare workers. Hence, increase in exposure of
healthcare workers to hazardous drugs at the workplace is likely fuel the
growth of the market in North America. According to the Centers for Diseases
Control and Prevention, nearly 8 million healthcare workers in North America
are potentially exposed to hazardous drugs.
China is likely to be a
highly lucrative market for closed system transfer devices (CSTD) during the
forecast period. Rise in the target population requiring treatment in developed
regions and higher utilization of CSTDs are expected to drive the global closed
system transfer devices (CSTD) market during the forecast period.
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Competition
Landscape
ICU Medical,
Inc., Baxter International, Inc., B. Braun Melsungen AG, and Equashield LLC are
the three major companies operating in the global closed system transfer
devices (CSTD) market. The global closed system transfer devices (CSTD) market
is fragmented in terms of number of players. Key players in the global market include
ICU Medical, Inc., Baxter International, Inc., B. Braun Melsungen AG, Becton,
Dickinson and Company, Equashield LLC, Corvida Medical, Yukon Medical, Caragen
Ltd., and JMS Co. Ltd.
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