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Allied Market Research

Closed System Transfer Devices Market: Global Opportunity Analysis and Industry Forecast, 2019–2026

A11272
Pages: NA
Jul 2021 | 54 Views
 
Author(s) : Onkar Sumant
Tables: NA
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Closed-system transfer devices (CSTDs) are among the systems used to transfer medication from one reservoir to another and limiting the potential for drug aerosols, drug contamination, sharps exposure, and hazardous drug exposure. Furthermore, once connected to the reservoir (typically a drug vial), CSTD devices equalize the pressure gradient with the vessel containing the drug and also syringe. Also, without a pressure equalization system, differences in pressure can lead to the generation of fine aerosols that would escape into the air and expose the environment, patients, and among health care professionals to hazardous drugs. Other CSTDs use the integrated filter to cleanse escaping air contaminated with hazardous drug vapors or aerosols.

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2020–2027

  Base year considered

  2019

  Forecast period

  2021–2027

  Forecast units

  Value (USD)

  Segments covered

Closing Mechanism, Type, Component, Technology, End User and Region

  Regions covered

North America (U.S. and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), Latin America (Brazil, Mexico, and the Rest of LATAM) and The Middle East and Africa

  Companies covered

Major players analyzed include ICU Medical, Inc., Equashield LLC., Corvida Medical, B. Braun Melsungen AG, JMS Co., Ltd., CODAN Medizinische Geräte GmbH & Co KG, Baxter International, Inc., VICTUS, Yukon Medical, Caragen Ltd. and Becton, Dickinson and Company.

 

COVID-19 scenario analysis:

The demand for the medical supplies is increasing, in order to treat the infected population. There are various respiratory support devices such as life-support machine, atomizer, oxygen generator, and monitor are among the majorly utilized medical devices in primary clinical treatment. Furthermore, COVID-19 has led to a huge increase in demand for medical supplies such as personal protective equipment including gloves, masks, and protective eyeglasses. With increase in number of COVID-19 cases worldwide, the need for medical supplies keeps on growing among both from healthcare professionals and civil population for precautionary measures. There are various manufacturers of these products and have a chance to take advantage of this amplified demand of medical supplies to ensure adequate and also continuous supply of personal protective equipment in the market.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

The major factors that are anticipated to help the market include increase in prevalence of cancer, rise in number of oncology drug approvals, surge in use of closed system transfer devices to combat the harmful effects of the cytotoxic or antineoplastic drugs would help the market propel in the near future. The improvement in the regulatory guidelines regarding safe handling and use of hazardous drugs would boost the market in the near future.

New product advancements to flourish the market

The major factors that are expected to boost the market in coming years. For instance, in January 2018, Baxter International Inc., which is among the leader in innovative technology for medication delivery. It announced that it had made a distribution agreement for the U.S. launch of the Arisure Closed System Transfer device, consisting of various components that work together to assist in preventing contaminants from entering into the intravenous (IV) medication delivery system and also from the escape of hazardous substances out of the system while drug preparation and administration.

In January 2019, B. Braun Medical Inc. announced that OnGuard Closed System Transfer Device (CSTD), which is useful for effective barrier performance under the National Institute for Occupational Safety and Health (NIOSH) Draft Protocol for CSTD used during pharmacy compounding and the administration of hazardous drugs.

Surge in mergers and acquisitions to boost the market

In October 2018, Equashield, which is among the leading provider of Closed System Transfer Devices (CSTDs) for the hazardous drugs, announced about a distribution partnership made with Saudi Arabia-based Max Care Medical. Furthermore, Max Care will market and sell Equashield’s Closed System Transfer Device to ensure the safe compounding of hazardous drugs.

In January 2017, Terumo Corporation announced that it has completed its acquisition of certain assets owned by Abbott and St. Jude Medical (North American Central Standard Time). Terumo acquired the Anglo-Seal and FemoSeal vascular closure product lines and Kalila Medical, Inc., company developing next-generation access technologies, the first being the Vado Steerable Sheath, used in cardiac electrophysiology procedures.

Key segments covered:

Segments

Sub-segments

  Closing Mechanism

  • Push-to-turn Systems
  • Color-to-color Alignment Systems
  • Luer-lock Systems
  • Click-to-lock Systems

  Type

  • Membrane-to-membrane Systems
  • Needleless Systems

  Component

  • Vial Access Devices
  • Syringe Safety Devices
  • Bag/Line Access Devices
  • Accessories

  Technology

  • Diaphragm-based Devices
  • Compartmentalized Devices
  • Air Cleaning/Filtration Devices

  End User

  • Hospitals
  • Oncology Centers & Clinics
  • Other End Users

 

Key benefits of the report:

  • This study presents the analytical depiction of the global closed system transfer devices industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global closed system transfer devices market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global closed system transfer devices market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed global closed system transfer devices market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the closed system transfer devices market research report:

  • Which are the leading market players active in the closed system transfer devices market?
  • What current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in tasking further strategic steps?
 
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