$982 Mn Closed System Transfer Devices Market - Global Forecast to 2024: Increasing Use of Closed System Transfer Devices to Combat the Harmful Effects of Cytotoxic Or Antineoplastic Drugs

DUBLIN, Feb. 22, 2019 /PRNewswire/ -- The "Closed System Transfer Devices Market by Closing Mechanism (Luer-Lock, Push-to-Turn), Type (Membrane-to-Membrane, Needleless), Technology (Diaphragm, Compartmentalize, Air Filtration), Component, End User (Hospital, Clinic) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering. 

The closed system transfer devices market is projected to reach USD 982 million by 2024 from USD 390 million in 2019, at a CAGR of 20.3%.

Factors such as the rising incidence of cancer, an increasing number of oncology drug approvals, increasing use of closed system transfer devices to combat the harmful effects of cytotoxic or antineoplastic drugs, and improving regulatory guidelines regarding the safe handling and use of hazardous drugs are driving the growth of the closed system transfer devices market. However, market growth is mainly restricted by the high cost of implementation of CSTDs and lack of reimbursement as well as lack of compliance with regulatory guidelines in developing countries.

Compartmentalized devices to witness the highest growth during the forecast period.

On the basis of technology, the closed system transfer devices market is segmented into diaphragm-based devices, compartmentalized devices, and air cleaning/filtration devices. The compartmentalized devices segment is expected to grow at the highest CAGR during the forecast period. Compartmentalized devices are priced at a lower cost as compared to diaphragm-based devices. Also, these systems are truly closed in nature, providing maximum safety to healthcare workers and patients. These factors are driving the adoption of compartmentalized devices in the CSTDs market.

Membrane-to-membrane systems to witness the highest growth during the forecast period.

By type, the closed system transfer devices market is segmented into membrane-to-membrane systems and needleless systems. In 2018, the membrane-to-membrane systems segment accounted for the largest share of the closed system transfer devices market. The large share and high growth of this segment can be attributed to their ease of operation and the lower risk of contamination associated with double-membrane containment systems.

Hospitals to register the highest CAGR during the forecast period.

On the basis of end users, the market is segmented into hospitals, oncology centers & clinics, and other end users. Hospitals are expected to show significant growth opportunities during the forecast period. The high growth of this segment is mainly due to the strong financial capabilities of hospitals for purchasing high-priced CSTDs as compared to oncology centers and clinics, large cancer patient pool, and the increasing need to comply with the regulatory guidelines established by the FDA and NIOSH regarding the safety of healthcare providers.

Asia Pacific is projected to witness the highest growth during the forecast period.

Asia Pacific is expected to witness the highest CAGR during the forecast period. The rising incidence of cancer, increasing demand for better healthcare services in developing economies, and increasing focus of international players on emerging markets such as India and China are driving the growth of the closed system transfer devices market in the Asia Pacific.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Closed System Transfer Devices Market Overview
4.2 Asia Pacific: Market, By Technology
4.3 Geographic Snapshot of the Market (2018)
4.4 Geographic Mix: Market, 2019-2024 (USD Million)
4.5 Closed System Transfer Devices Market: Developing vs Developed Markets, 2019 vs 2024 (USD Million)

5 Market Overview
5.1 Introduction
5.2 Market Dynamics: Impact Analysis
5.2.1 Drivers
5.2.1.1 Rising Incidence of Cancer
5.2.1.2 Increasing Number of Oncology Drug Approvals
5.2.1.3 Increasing Use of Closed System Transfer Devices to Combat the Harmful Effects of Cytotoxic Or Antineoplastic Drugs
5.2.1.4 Improving Regulatory Guidelines Regarding Safe Handling and Use of Hazardous Drugs
5.2.2 Restraints
5.2.2.1 High Cost of Implementation of CSTDs and Lack of Reimbursement
5.2.2.2 Lack of Compliance With Regulatory Guidelines in Developing Countries
5.2.3 Opportunities
5.2.3.1 Use of CSTDs in Other Therapeutic Areas
5.2.3.2 Rapid Growth in Emerging Markets
5.2.4 Challenges
5.2.4.1 Gaps With Existing CSTDs
5.2.4.2 Low Awareness Among Nurses About CSTDs

6 Industry Insights
6.1 Introduction
6.2 Industry Trends
6.2.1 Automation in CSTD
6.3 Product Features and Pricing Analysis
6.4 Utilization/Adoption of CSTD, By Region
6.5 Regulatory Guidelines
6.5.1 Usp <_00> Regulations
6.5.2 National Institute for Occupational Safety and Health (NIOSH)
6.5.3 American Society of Health-System Pharmacists (ASHP)
6.5.4 International Society of Oncology Pharmacy Practitioners (ISOPP)
6.6 Regulatory Analysis

7 Closed System Transfer Devices Market, By Closing Mechanism
7.1 Introduction
7.2 Push-To-Turn Systems
7.2.1 High Adoption Of Phaseal, A Pioneer In the CSTD Market - A Key Market Driver
7.3 Color-To-Color Alignment Systems
7.3.1 Low System Cost, Along With the Advantages Offered, Increases the Adoption of These Systems Among Pharmacists, Oncologists, and Nurses
7.4 Luer-Lock Systems
7.4.1 Luer-Lock Mechanisms Reduce the Risk of Exposure, Require Fewer Components, and Generate Less Biohazardous Waste - Key Advantages Driving Growth
7.5 Click-To-Lock Systems
7.5.1 The User-Friendly Nature of Click-To-Lock Mechanisms Drives Their Adoption Among End Users

8 Closed System Transfer Devices Market, By Type
8.1 Introduction
8.2 Membrane-To-Membrane Systems
8.2.1 Membrane-To-Membrane Systems Provide A Double Layer of Protection for the Safe Transfer of Hazardous Drugs
8.3 Needleless Systems
8.3.1 Chemolock is the First Fda Approved Needleless CSTD System

9 Closed System Transfer Devices Market, By Component
9.1 Introduction
9.2 Vial Access Devices
9.2.1 Increasing Regulatory Compliance to Drive the Adoption of Vial Access Devices in Hospitals & Oncology Centers
9.3 Syringe Safety Devices
9.3.1 Advantages Such as Ease of Use and Leak Prevention are Driving the Adoption of These Devices Globally
9.4 Bag/Line Access Devices
9.4.1 Compatibility of Bag/Line Access Devices With Both Types of CSTDs Drives Market Growth
9.5 Accessories
9.5.1 Major CSTDs Such as Phaseal, Onguard, and Chemoclave Require Dedicated Administration Sets, Which Drives Growth in the Accessories Market

10 Closed System Transfer Devices Market, By Technology
10.1 Introduction
10.2 Diaphragm-Based Devices
10.2.1 Diaphragm-Based Devices Dominate the Market Due to the Ease of Use & Safety Provided During the Handling of Hazardous Drugs
10.3 Compartmentalized Devices
10.3.1 Compartmentalized Devices to Witness the Highest Growth in the Market During the Forecast Period
10.4 Air Cleaning/Filtration Devices
10.4.1 Air Cleaning Devices Incorporate an Activated Carbon Or Hydrophobic Filter to Help Reduce the Outflow of Contaminants

11 Closed System Transfer Devices Market, By End User
11.1 Introduction
11.2 Hospitals
11.2.1 Hospitals Form the Largest End-User Segment of the Market
11.3 Oncology Centers & Clinics
11.3.1 Increasing Regulatory Mandates to Drive the Adoption of CSTDs in Oncology Centers & Clinics
11.4 Other End Users

12 Closed System Transfer Devices Market, By Region
12.1 Introduction
12.2 North America
12.2.1 US
12.2.1.1 US Dominates the North American Market Primarily Due to the Presence of Leading CSTD Manufacturing Companies & High Burden of Cancer
12.2.2 Canada
12.2.2.1 Increasing Prevalence of Cancer to Drive the Growth of the Canadian Market
12.3 Europe
12.3.1 Germany
12.3.1.1 Germany to Witness the Highest Growth in the European Closed System Transfer Devices Market
12.3.2 UK
12.3.2.1 High Cost of CSTDs to Restrain Market Growth
12.3.3 France
12.3.3.1 High Cancer Prevalence and the High Healthcare Expenditure in the Country to Drive Market Growth in France
12.3.4 Spain
12.3.4.1 Lack of Specific Regulations About CSTDs is Restraining the Growth of This Market
12.3.5 Italy
12.3.5.1 Increasing Geriatric Population and the Subsequent Increase in the Prevalence of Cancer to Drive the Market for Closed System Transfer Devices in Italy
12.3.6 Rest of Europe
12.4 Asia Pacific
12.4.1 Japan
12.4.1.1 Japan to Dominate the APAC Market
12.4.2 China
12.4.2.1 Untapped China Market With Large Patient Pool Provides Significant Growth Opportunities for Market
12.4.3 India
12.4.3.1 Low Manufacturing Cost and Skilled Workforce are Attracting Outsourcing and Investment to India
12.4.4 Rest of APAC
12.5 Latin America
12.5.1 Rising Cancer Incidence to Drive Market Growth in Latam
12.6 Middle East and Africa
12.6.1 MEA Market to Grow at A Slower Rate Than Latin America

13 Competitive Landscape

• B. Braun Melsungen
• Baxter International Inc.
• Becton, Dickinson and Company (BD)
• Caragen Ltd.
• Codan Medizinische Gerte GmbH & Co Kg
• Corvida Medical
• Equashield LLC.
• ICU Medical, Inc.
• JMS Co., Ltd.
• Teva Pharmaceutical Industries Ltd.
• Victus, Inc.
• Yukon Medical

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