Closed System Transfer Devices Market Statistics 2030-
The global closed system transfer devices market size was valued at $823.58 million in 2020, and is projected to reach $3,271.74 million by 2030, registering a CAGR of 15.4% from 2021 to 2030. Closed system transfer devices, or CSTDs, are a type of system used to transfer medication from one reservoir to another while minimizing the risk of drug aerosols, drug contamination, sharps exposure, and hazardous drug exposure. It prevents the transfer of environmental pollutants into the system as well as the escape of dangerous drug or vapor concentrations outside the system mechanically.
The National Institute for Occupational Safety and Health (NIOSH) defines a closed system drug-transfer device (CSTD) as a drug transfer device that mechanically prevents the transfer of environmental contaminants into the system while also assisting in the escape of hazardous drug or vapor concentrations outside the system. To prevent dangerous drugs from leaking into the environment, it generally employs one of two design approaches: a physical barrier or an air-cleaning device.
CSTDs are often used in medical equipment to keep a fluid pathway sterile. They work by restricting the uncontrolled entry and outflow of contaminants and drugs, thereby preserving the quality of the solution to be injected into a patient. Although it should give complete safety to healthcare professionals when handling hazardous drugs, contaminants may still be discovered despite the use of CSTDs due to improper handling or faulty product design.
The growth of the global closed system transfer devices market is majorly driven by the rising prevalence of cancer. Chemotherapy is one of the most sought after procedures for cancer and thus leads to increased use of CSTDs for transferring or administering the antineoplastic agents, which may be potentially hazardous to healthcare workers. Surface contamination during chemotherapy treatment can have an impact not only on healthcare personnel but also on patients and their families. Thus, a growing number of cancer patients is expected to boost the global use of chemotherapies. Therefore, rise in prevalence of various cancers has led to surge in chemotherapy treatment, and thus led to rise in CSTDs by healthcare practitioners to avoid any hazardous effects of antineoplastic medications, thereby driving the growth of the market.
The rising requirement for monitoring compliance for safe pharmaceutical handling is driving the growth of the closed system transfer device market. Antineoplastic drugs can save or enhance a patient's survival, but they can also be detrimental to the health of medical workers. This can occur if medicines escape during compounding, administration, or patient delivery, or if there is surface contamination. Pharmacy professionals at the cancer center prepare all quantities of chemotherapy drugs under the supervision of a professional pharmacist.
Hazardous drugs can cause both acute and chronic health effects such as skin rashes, adverse reproductive outcomes (including infertility, spontaneous abortions, and congenital malformations), and possibly leukemia and other cancers. Thus, various initiatives by the government, SOPs for handling the hazardous drugs, and awareness among nurses and healthcare personnel regarding the safe usage of these medications are expected to contribute to drive the closed system transfer devices market.
However, the expensive cost of closed system transfer devices is a key impediment to their widespread use. Lack of awareness among healthcare workers regarding the risks involved with hazardous drug handling and lack of reimbursement are major factors that limit the adoption of CSTDs and may hinder the closed system transfer devices market growth
In addition, the COVID-19 pandemic led to decrease in chemotherapy procedures globally, as numerous clinics and hospitals across the globe were restructured to increase the hospital capacity for patients diagnosed with COVID-19. The non-essential procedures took a potential backlog due to rapidly rising COVID-19 cases and had a negative impact on the market.
Membrane to Membrane segment holds a dominant position in 2020 and would continue to maintain the lead over the forecast period.
Furthermore, opportunities in untapped, emerging markets with high potential are present due to improved healthcare infrastructure, increase in unmet healthcare needs, and rise in prevalence of cancer in populations. Availability of various facilities providing such procedures is an emerging opportunity for the key players of the market to invest in closed system transfer devices, and thus will further accelerate the expansion of the market offering. This is expected to result in significant growth opportunities for the closed system transfer devices market during the forecast period.
Closed System Transfer Devices Market Segmentation
The closed system transfer devices market is segmented onto the basis of type, technology, end user, and region. On the basis of type, the market is categorized into membrane-to-membrane and needleless. The membrane-to-membrane segment is further divided into hospitals & clinics, oncology centers, and others. The needleless segment is further divided into hospitals & clinics, oncology centers, and others. By technology, the market is fragmented into diaphragm-based, compartmentalized, and filtration. By end user, the market is categorized into hospitals & clinics, oncology centers, and others.
Region wise, the closed system transfer devices market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and the rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea, and the rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and the rest of LAMEA).
Diaphragm Based segment is projected as one of the most lucrative segment.
Depending on type, the membrane-to-membrane segment dominated the market in 2020, and is expected to continue this trend during the forecast period, due to simplicity of use and lower risk of contamination associated with double-membrane containment systems.
On the basis of technology, the diaphragm based segment led the market in 2020, and is expected to retain its dominance during the forecast period, owing to ease of operation and safety provided by these devices.
By end user, the hospitals and clinics segment exhibited the highest growth in 2020, and is expected to continue this trend during the forecast period.
North America accounted for a majority of the global closed system transfer devices market share in 2020, and is anticipated to remain dominant during the forecast period. This is attributed to rise in prevalence of cancer cases, presence of key players, increase in healthcare expenditure, advancements in technology, and rise in government initiatives in the region. However, Asia-Pacific is anticipated to witness notable growth, owing to increase in overall population, surge in facilities offering closed system transfer devices services, and increased investments in healthcare sector in the region.
The key players operating in the global closed system transfer devices market are B. Braun Holding GmbH & Co. KG, Baxter International, Inc., Becton, Dickinson and Company, Caragen Ltd., Corvida Medical, Equashield LLC., FIMI Opportunity Funds (Simplivia Healthcare), ICU Medical, Inc., JCB Co., Ltd. (JMS Co., Ltd.), and Yukon Medical.
Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 17.7% during the forecast period.
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the closed system transfer devices market, and the current trends and future estimations to elucidate the imminent investment pockets.
- It presents a quantitative analysis of the market from 2021 to 2030 to enable stakeholders to capitalize on the prevailing closed system transfer devices market opportunities.
- Extensive analysis of the market based on procedures and services assists to understand the trends in the industry.
- Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the closed system transfer devices market.
Key Market Segments
- Hospitals & Clinics
- Oncology Centers
- Hospitals & Clinics
- Oncology Centers
By End User
- Hospitals & Clinics
- Oncology Centers
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South Africa
- Saudi Arabia
- Rest of LAMEA
Key Market Players
- B. Braun Holding GmbH & Co. KG
- Baxter International
- Becton, Dickinson and Company
- Caragen Ltd
- Corvida Medical
- FIMI Opportunity Funds (Simplivia Healthcare)
- ICU Medical
- JCB Co Ltd. (JMS Co Ltd.)
- Yukon Medical
Closed System Transfer Devices Market Report Highlights
By END USER
Key Market Players
FIMI OPPORTUNITY FUNDS (SIMPLIVIA HEALTHCARE LTD.), BAXTER INTERNATIONAL INC, BECTON, DICKINSON, AND COMPANY, B. BRAUN HOLDING GMBH & CO. KG, ICU MEDICAL INC., CARAGEN LTD., JCB CO., LTD. (JMS CO LTD), CORVIDA MEDICAL, INC., EQUASHIELD LLC., YUKON MEDICAL, LLC.
This section provides the opinions of the top level CXOs in the closed system transfer devices market. According to the insights of CXOs, increasing prevalence of cancer, rise in chemotherapy treatments, and development of new oncology drugs are all attributed to the growth of the closed system transfer devices market.
The CXOs further added that due to increase in prevalence of various cancer, their treatment, and rise in incidences of healthcare workers coming in contact with hazardous drugs while compounding or administering, medical practitioners have recognized the significance of using closed system transfer devices for transferring harmful or hazardous drugs and it is now an essential component of oncology centers & hospitals.
In addition, rising need for monitoring compliance for harmless handling of hazardous drugs is driving the growth of the closed system transfer device market. CSTDs are widely known for their effectiveness in reducing surface adulteration and contact with healthcare personnel after administration. As a result, CSTDs are required for such therapeutic compounds. The growing global frequency of cancer has significantly increased the demand for closed system drug transfer systems, wherein increasing incidence of harm caused due to hazardous drugs, for example, those used for cancer therapy, some antiviral drugs, hormone agents, and bioengineered drugs is anticipated to further drive the market.
Closed system transfer devices are used in manual as well as automated compounding of hazardous drugs. The market gains interest of healthcare companies, owing to focus on complying with the closed system transfer device performance standards that primarily focus on patient protection and sterile practices. This leads to increase in adoption of CSTDs in hospitals, clinics, and oncology centers providing therapies of such drugs, which is a great opportunity for further propelling the growth of the market.
North America is expected to witness highest growth, in terms of revenue, owing to rise in prevalence of cancer, presence of key players, and advancements in healthcare investments. Asia-Pacific was the second largest contributor to the market in 2020, and is expected to register the fastest CAGR during the forecast period, owing to increase in cancer prevalence, rise in R & D activities, increasing awareness in healthcare sectors. However, high cost of implementation and stringent government policies may restrain the market growth during the forecast period.