Global Closed System Transfer Devices Market Analysis
According to Verified Market Research, The Global Closed System Transfer Devices Market was valued at USD 308.96 Million in 2018 and is projected to reach USD 1.35 Billion by 2026, growing at a CAGR of 20.2% from 2019 to 2026.
What is Closed System Transfer Devices?
Closed-system transfer devices (CSTDs) is defined as the systems that are used to transfer medication from one reservoir to another while prohibiting the potential for drug aerosolization, drug contamination, sharps exposure, and hazardous drug exposure. These devices usually follow one of two design concepts, using either a physical barrier or an air-cleaning technology in order to prevent the escape of hazardous drugs into the work environment. Increasing production of medicines, higher availability of cytotoxic drugs in the workplace, and technological advancements are the factors that have contributed in the growth of the market.
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Global Closed System Transfer Devices Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
Factors such as increasing incidence of cancer, growing number of oncology drug approvals and growing usage of closed system transfer devices in order to prevent the harmful effects of cytotoxic or antineoplastic drugs have been driving the global closed system transfer devices market. In contrast, high implementation cost of CSTDs, lacking reimbursement along with lack of compliance with regulatory guidelines in emerging countries have been restraining the growth at a global level.
Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global Closed System Transfer Devices Market” is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market.
Global Closed System Transfer Devices Market Competitive Landscape
The “Global Closed System Transfer Devices Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Equashield LLC., BD Medical, Inc, B. Braun Medical Inc., ICU Medical, Inc, Teva Medical Ltd, Corvida Medical, Hospira (acquired by Pfizer), Yukon Medical, and others. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above mentioned players globally.
Global Closed System Transfer Devices Market, By Closing Mechanism
• Push-To-Turn Systems
• Color-To-Color Alignment Systems
• Luer-Lock Systems
• Click-To-Lock Systems
Global Closed System Transfer Devices Market, By Type
• Membrane-To-Membrane Systems
• Needleless Systems
Global Closed System Transfer Devices Market, By Component
• Vial Access Devices
• Syringe Safety Devices
• Bag/Line Access Devices
Global Closed System Transfer Devices Market, By Technology
• Diaphragm-Based Devices
• Compartmentalized Devices
• Air Cleaning/Filtration Devices
Global Closed System Transfer Devices Market, By End user
• Oncology Centers & Clinics
• Other End Users
Global Closed System Transfer Devices Market Geographic Scope
• North America
o Rest of Europe
• Asia Pacific
o Rest of Asia Pacific
• Latin America
• Rest of the World
Research Methodology of Verified Market Research:
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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
• The current as well as future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis
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• Market dynamics scenario, along with growth opportunities of the market in the years to come
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