The global closed system transfer devices market was valued at USD 872 Million in 2022 and it is anticipated to grow at 18.1% CAGR during the forecast period to reach up to USD 3800 Million by 2032.
| Report Attribute | Details |
| Closed System Transfer Devices Market Anticipated Forecast Value (2022) | US$ 872 Million |
| Closed System Transfer Devices Market Anticipated Forecast Value (2032) | US$ 3800 Million |
| Closed System Transfer Devices Market Projected Growth Rate (2022-2032) | 18.1% CAGR |
A closed system transfer device or ‘CSTD’ is a drug transfer device, which mechanically restricts the transfer of environmental contamination in the medical system and the escape of hazardous drug or vapor concentrations outside the system. Open versus closed systems are commonly applied in medical devices to maintain the sterility of a fluid pathway. CSTDs work by preventing- uncontrolled inflow and outflow of contaminants and drugs, preserving the quality of the solution to be infused into a patient. These devices ensure the safety of healthcare workers during the usage of hazardous drugs or chemicals.
Closed system transfer device designs and models have changed at a rapid rate in recent years, resulting in the development of a number of independent testing methodologies to assess closed system transfer device performance. Currently, manufacturers in the closed system transfer devices market are focusing more on adhering to performance requirements, which largely focus on patient safety and sterile practices.
Request Sample @
https://www.futuremarketinsights.com/reports/sample/rep-gb-9654
Market Trends and Drivers: The key factors such as rising use of CSTDs to combat the harmful effect of cytotoxic and antineoplastic drugs. Antineoplastic drugs are widely used in the treatment of cancer and are considered hazardous drugs. Healthcare workers involved in the preparation, transport, distribution, administration (pre and post-administration), and disposal of these drugs are at extremely high risk.
The National Institute for Occupational Safety and Health (NIOSH) recommends the use of CSTDs to eliminate the harmful effects caused by exposure to hazardous substances that escape out of the system during drug preparation and administration. CSTDs act as a barrier and prevents the entry of contaminants prevent the transfer of contaminants from the atmosphere to a sterile environment. Due to these advantages, CSTDs are increasingly being used in healthcare facilities to combat the harmful effects of hazardous drugs. Chemotherapy, a widely adopted cancer treatment, uses one or more antineoplastic drugs, which destroy abnormal cells in patients. The use of closed system transfer devices (CSTDs) in conjunction with other safety precautions such as gloves, gowns, masks, and vented preparation hoods is an effective way to increase safety when preparing, transporting, administering, and disposing of hazardous drugs. With the increasing incidence of cancer and increasing adoption of chemotherapy treatments, the demand for CSTDs is expected to increase in the upcoming years.
Ask an Analyst @
https://www.futuremarketinsights.com/ask-question/rep-gb-9654
COVID-19 Impact: The outbreak of COVID-19 led to a decrease in the demand for CSTDs during the first two quarters of 2020. Due to the virus containment norms and nationwide lockdowns, there were limited patient footfalls in hospitals, mostly related to COVID-19 and emergency cases. The elective medical procedures are on hold thereby causing a negative shift in the demand for CSTDs. Still, with the decline in the number of active COVID-19 cases coupled with the economic recovery in developed nations, further utilization of these devices may be expected in the near future. Major Players in Closed System Transfer Devices Market: The key players in the closed system transfer devices market are B. Braun Holding GmbH & Co. KG, Baxter International, Becton, Dickinson and Company, Caragen Ltd, Corvida Medical, Equashield, FIMI Opportunity Funds (Simplivia Healthcare), ICU Medical, JCB Co Ltd. (JMS Co Ltd.), Yukon Medical.
Read Related Reports:
https://vocal.media/stories/liquid-biopsy-market-2022-scope-of-current-and-future-industry-2031
https://degentevakana.com/blogs/view/118096
https://degentevakana.com/blogs/view/118100
https://vocal.media/stories/dental-imaging-equipment-market-2022-scope-of-current-and-future-industry-2030
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
Report: https://www.futuremarketinsights.com/reports/closed-system-transfer-devices-market
For Sales Enquiries: sales@futuremarketinsights.com
Browse latest Market Reports: https://www.futuremarketinsights.com/reports
LinkedIn| Twitter| Blogs