As per Zion market research, the global market for closed system transfer devices is predicted to cross USD 1000 million by 2025 from USD 370 million in 2019 with a CAGR of 19.9%. Development in this market is majorly powered by the increasing cases of cancer, rising employment of closed system transfer machines to deal with the side effects of antineoplastic or cytotoxic drugs, rising number of oncology drug approvals, and enhancing regulatory rules related to the secure use and handling of hazardous drugs.
Major players in the global market for closed system transfer devices are Dickinson and Company, Becton, Equashield LLC., ICU Medical, Inc., Corvida Medical, B. Braun Melsungen AG, JMS Co., Ltd., Yukon Medical, Baxter International, Inc., CODAN Medizinische Geräte GmbH & Co KG, Caragen Ltd., and VICTUS.
Diaphragm-Based Devices Segment Projected To Add Up For The Biggest Share Of The Global Market
On the basis of tech, the diaphragm-based devices section added up for the biggest share of the global market. The huge share of this section is majorly owing to the safety provided by these machines and ease of operation. The compartmentalized machine section is projected to develop at the max CAGR during the years to come owing to their lower price.
Hospitals Segment Added Up For The Biggest Share Of The Global Market In 2019
On the basis of their end user, the hospitals section is predicted to add up for the biggest share of the market in the coming years. The high growth and huge share of this section are majorly owing to the huge cancer patient pool, solid financial abilities of hospitals for buying high-cost CSTDs in comparison to oncology clinics and centers, and the rising requirement to obey with the regulatory laws set by the NIOSH and FDA related to the security of healthcare providers.
Asia Pacific Projected To Develop At The Maximum CAGR In The Years To Come
The Asia Pacific market is predicted to develop at the max CAGR in the years to come. This is owing to the increasing cases of cancer and the rising requirement for better healthcare offerings in developing nations such as China and India. Moreover, the rising aim of global players on up-and-coming markets is additionally projected to power the growth of closed system transfer devices market in the Asia Pacific region.
This review is based on a report by Zion Market Research, titled “Closed System Transfer Devices Market by Technology (Compartmentalize, Diaphragm, Air Filtration), Closing Mechanism (Push-to-Turn, Luer-Lock), Type (Needleless, Membrane-to-Membrane), Component, End User (Clinic, Hospital) – Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 – 2025”
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