Closed System Transfer Devices Market (CSTD) Market to Reach US$2.4 Bn by 2030: TMR Study

News provided by

Oct 11, 2022, 13:30 ET

Rising investment in development of efficient drug-handling chain expected to trigger growth in closed system transfer devices (CSTD) market during forecast period
Increasing need to reduce wastage and expenditure could propel overall market
North America emerged as prominent market in 2019 due to increase in patient population suffering from cancer in the U.S.

WILMINGTON, Del., Oct. 11, 2022 /PRNewswire/ -- The last decade has witnessed an increased need to reduce the presence of hazardous contaminants at healthcare infrastructure facilities such as hospitals and clinics.

The global closed system transfer devices (CSTD) market is projected to advance at compound annual growth rate of 11% during the forecast period, starting in 2020 and ending in 2030.

Leading closed system transfer devices (CSTD) market players are launching new products which are helping the players in gaining an edge over other players and generate new revenue streams.

Yukon Medical, in March 2021, received approval from the U.S. food and drug administration for the use of its new closed system transfer device under ONB product classification.

Get Exclusive PDF Sample Copy of Closed System Transfer Devices Market (CSTD) Market – https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=55230

Prominent market players are also looking to expand their presence in overall market and boost their revenue, by signing collaborative agreements with smaller players.

Key Findings of Closed System Transfer Devices (CSTD) Market Study

Growing Need to Decrease Wastage and Expenditure Could Stimulate Growth in Closed System Transfer Devices (CSTD) Market: Closed system transfer devices have shown the ability to reduce the impurity of parental drugs. This aspect of closed system transfer devices has helped in decreasing wastage and expenditure, in future. The capability of closed system transfer devices to decrease contamination of parental drugs is expected to fuel product demand and boost growth in closed system transfer devices (CSTD) market during the forecast period
Increasing R&D Activities Could Augment Growth in Overall Market: Research and development undertakings are expected to play an important role in the growth of closed system transfer devices (CSTD) market, during the forecast period. Leading players in global market are looking to expand their product portfolios in a bid to strengthen their position in overall market. Increasing research and development activities to produce improved products could fuel demand and trigger the market growth for closed system transfer devices (CSTD) during the forecast period

Ask for References – https://www.transparencymarketresearch.com/sample/sample.php?flag=ARF&rep_id=55230

Closed System Transfer Devices (CSTD) Market: Key Drivers

Increasing investments in the development of efficient drug-handling chain is expected to emerge as one of the key driving factors of global closed system transfer devices (CSTD) market, during the forecast period
Rising focus on improving safety of healthcare personnel who help in administration and compounding of harmful drugs is anticipated to fuel the growth in closed system transfer devices (CSTD) market during the forecast period
Increasing product demand in drug safety programs is projected to augment the market growth for closed system transfer devices (CSTD) during the forecast period

Closed System Transfer Devices (CSTD) Market: Regional Market Insights

Globally, North America emerged as the major market in 2019. Increase in patient population suffering from cancer and prominent presence of well-established market players in countries such as the United States of America were the key factors, driving the growth in closed system transfer devices (CSTD) market in the region.

Make an Enquiry Before Buying – https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=55230

Closed System Transfer Devices (CSTD) Market: Key Players

Competition landscape in global closed systems transfer devices (CSTD) market is fragmented, with the presence of several leading players. Entry of new players, during the forecast period, could further intensify the competition in global market.

Few prominent players in global closed system transfer devices (CSTD) market include Baxter International, Dickinson and Co., Becton, ICU Medical Inc., and Equashield LLC.

The global closed system transfer devices (CSTD) market is segmented as follows:

Product

Systems
Needle Free Systems
Needle Systems

Component

Vial Adaptors
Syringe Adaptors
Tubing Sets and Accessories

Application

Pharmacy
Nursing
Veterinary

Distribution Channel

Direct Sales
Distributors

Region

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Research Reports by Transparency Market Research:

Mice Model Generation Market: The global mice model generation market is anticipated to reach more than US$ 918.4 Mn by 2031 at a CAGR of 8.1% from 2022 to 2031.

Cancer Biomarkers Market: The global cancer biomarkers market is anticipated to reach more than US$ 31.4 Bn by 2031 at a CAGR of 9.9% from 2022 to 2031.

Analytical Standards Market: The global analytical standards market is anticipated to reach more than US$ 2.29 Bn by the end of 2031 at a CAGR of 6.7% from 2022 to 2031.

Mice Model Technologies Market: The global mice model technologies market is anticipated to reach US$ 3.2 Bn by 2031 at a CAGR of 7.4% from 2022 to 2031.

Soft Tissue Allografts Market: The global soft tissue allografts market is anticipated to reach more than US$ 6.3 Bn by the end of 2031 at a CAGR of 5.5% from 2022 to 2031.

Animal Genetics Market: The global animal genetics market is anticipated to reach more than US$ 9.1 Bn by the end of 2031 at a CAGR of 6.7% from 2022 to 2031.

Transplant Drug Monitoring Assay Market: The global transplant drug monitoring assay market is anticipated to reach more than US$ 542 Mn by the end of 2031 at a CAGR of 11.0% from 2022 to 2031.

PRP and PRF in Cosmetics Market: The global PRP and PRF in cosmetics market is anticipated to exceed US$ 483 Mn by 2031 at a CAGR of 12.6% from 2022 to 2031.

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

For More Research Insights on Leading Industries, Visit Our YouTube Channel and hit subscribe for Future Update - https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ

Contact

Rohit Bhisey
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: [email protected]