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| Closed System Transfer Device Market |
The closed system transfer device (CSTD) market has shown significant growth in recent years owing to the increased need for safety in the healthcare industry. CSTDs are designed to mechanically prohibit the transfer of environmental contaminants into a system and the escape of hazardous drug or vapor concentrations outside the system. They help contain and dispose of hazardous drugs safely during drug reconstitution or other transferring processes in hospitals and clinics. The growing risk of occupational exposure to hazardous drugs and increased safety regulations have boosted the demand for closed drug transfer systems.
The global closed system transfer device market is estimated to be valued at US$ 4.07 Bn in 2024 and is expected to
exhibit a CAGR of 16% over the
forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the closed system transfer device market are General
Electric, Molded Fiber Glass, Vesta, AREVA WIND, Bora Energy AVANTIS Energy,
DeWind, ENERCON, EWT, GBT Composites Technology, Xinjiang Goldwind Science and
Technology, Hexcel, Indutch composites technology, Inoxwind, Reliance
Industries, Leitner, NORDEX, ReGen Powertech, SR Fibreglass Auto, and Wind
World. These players are focusing on new product launches and strategic
collaborations to gain a competitive edge in the market.
The growing awareness about minimizing occupational exposure during drug
administration and recent regulatory guidelines mandating the use of Closed
System Transfer Device market Trends present significant growth opportunities for
players in the market. North America and Europe hold a major share of the
global CSTD market currently but the market is expected to witness high growth
in Asia Pacific as well driven by growing healthcare expenditure and increasing
number of hospitals in the region.
Market drivers:
1) Stringent safety regulations: Regulatory bodies like OSHA and NIOSH have
mandated the use of closed drug transfer systems for hazardous drugs to ensure personnel
safety. This is a major driver boosting the CSTD market.
2) Increasing risk of occupational exposure: Continuous exposure to hazardous
antineoplastic drugs can have damaging health effects on healthcare workers
like cancers. This high risk is augmenting the demand for closed drug transfer
devices for safe handling of such drugs.
Market Restraints:
1) High cost: CSTD devices are expensive compared to conventional drug vial
syringe transfer methods. This high cost can hamper their adoption in price
sensitive markets.
2) Lack of awareness: Limited awareness about hazardous drug exposure risks and
availability of advanced closed drug transfer technology can restrain market
growth in developing regions.
Segment Analysis
This market can be segmented by type, component, and end-user. The type segment
includes Closed Vial Access Devices and Closed Syringe Safety Devices. Closed
Syringe Safety Devices currently dominate the market due to the rising risk of
needlestick injuries among healthcare workers. These syringe devices provide
protection against accidental needles by preventing healthcare workers from
recapping used needles.
The component segment comprises a positive displacement system, needleless
components, vial access components, and syringe access components. Among these,
positive displacement system dominates as it ensures accurate transfer of
fluids without exposing them to the surrounding environment.
In terms of end-users, this market covers hospitals and clinics, diagnostic
centers, and pharmacies & drug stores. Hospitals and clinics account for
the largest share owing to the rising number of surgeries and increasing
implementation of safety norms to avoid infections.
Global Analysis
Regionally, North America holds the highest share in the closed system transfer device market due to favorable reimbursement policies and advanced healthcare infrastructure. However, Asia Pacific is emerging as the fastest-growing market due to the improving healthcare standards, growing medical tourism, and increasing government initiatives regarding patient safety in countries such as China, India, and Japan. The key players focus on expanding their manufacturing facilities and distribution networks in developing countries to capitalize on new growth opportunities.
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System Transfer Device Market
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