Closed System Transfer Device Market (2023 to 2032) – Growing Trend of Products across the World

The globa closed system transfer devices market was USD 656.64 million in 2022 and is anticipated to reach USD 3,388.12 million by 2032, marking a significant revenue Compound Annual Growth Rate (CAGR) of 20% during the forecast period. Key factors propelling the growth in market revenue include the increasing emphasis on the safe handling of hazardous drugs and the rising prevalence of oncology and chronic diseases.

A major driver behind the increased revenue growth in the closed system transfer device market is the heightened awareness of the risks associated with handling hazardous drugs in healthcare settings. Closed System Transfer Devices (CSTDs) create a sealed and controlled environment for the transfer of medications, thereby reducing the potential for exposure to toxic substances for healthcare workers, patients, and the environment. As safety regulations become more stringent, healthcare facilities are increasingly adopting CSTDs to ensure compliance and safeguard the well-being of their staff.

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Rising incidences of oncology and chronic diseases are creating a high demand for closed-system transfer devices. Chemotherapy and other hazardous drug treatments are common in cancer care, and ensuring safety of both patients and healthcare workers during drug preparation and administration is of paramount importance. CSTDs enable the safe delivery of these therapies, minimizing the risk of contamination and exposure.

Strategic Development:

  • In 2021, Becton, Dickinson and Company (BD) announced the acquisition of Velano Vascular, a medical technology company that focuses on patient-centered blood collection. This acquisition is expected to expand BD’s medication management and patient care solutions.
  • In 2020, ICU Medical, Inc. announced the acquisition of Pursuit Vascular, a medical device company that specializes in catheter securement and stabilization devices. This acquisition is expected to expand ICU Medical’s product portfolio and provide a more comprehensive solution to healthcare facilities.
  • In 2020, Corvida Medical announced a partnership with ICU Medical to develop and commercialize a new line of CSTDs. This partnership aims to provide a safer and more effective solution for handling hazardous drugs in healthcare facilities.

Key Players covered in this report are

  • Becton, Dickinson and Company (BD)
  • ICU Medical, Inc.
  • Baxter International Inc.
  • Teva Pharmaceutical Industries Ltd.
  • JMS Co., Ltd.
  • Equashield LLC
  • Pharmaceutical Systems, Inc.
  • ICU Medical, Inc.
  • Corvida Medical
  • Arxium Inc.

Segments Covered in Report

By Type Outlook
  • Membrane-to-Membrane Systems
  • Needleless Systems
  • Diaphragm-based Systems
  • Other Systems
By End-Use Outlook
  • Hospitals
  • Clinics
  • Ambulatory Surgical Centers
  • Other End-users

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Based on Region market is segmented into:

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East & Africa

Major Points covered in this report are as below:

  • An analysis of Closed System Transfer Device industry development trends and marketing channels, as well as an assessment of the feasibility of new investment projects, is presented in the study.
  • In addition to providing key statistics on the industry, the report provides valuable guidance and direction for companies and individuals interested in this market through tables and figures.
  • In addition to developing policies and plans, this report analyzes manufacturing processes and cost structures. It also provides information about import/export demand, costs, prices, revenues, and gross margins.
  • This report provides information on the market status of Closed System Transfer Device manufacturers and provides valuable insight into the market for companies and individuals.

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