The global closed system drug transfer device market will exhibit a high CAGR of 10.2% during the forecast period of 2021-2028

CLEVELAND, OHIO, USA, December 15, 2021 /EINPresswire.com/ --

Industry Overview
Closed System Drug Transfer Devices Market is a device (CSTDs) is used during drug reconstitution and administration. CSTD allows for the transmission of pharmaceuticals without exposing them to the dangerous drugs being handled by healthcare staff. It is excellent for transporting cytotoxic chemotherapeutic chemicals and medications like antineoplastic, which is a cancer-fighting therapy. Chemotherapy could be one of many uses for CSTDs because it is one of the most popular cancer treatments, which leads to an increase in the usage of CSTDs for transferring or delivering antineoplastic drugs, which could be dangerous for healthcare personnel. The rising prevalence of people affected by cancer is one of the main reasons for the growth of CSTDs. According to the World Cancer Research Fund, over 50 million people worldwide are affected by cancer in 2017. According to World Health Organisation (WHO), in 2020 there were around 10 million fatalities worldwide due to cancer.

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Segment Analysis
The Closed System Drug Transfer Devices Market has been segmented based on closing mechanism, technology, component, and end-users.
Closed System Drug Transfer Device – By Closing Mechanism
Luer-Lock
Color-to-Color
Click-to-Lock
Push-to-Turn
The closed system drug transfer devices market is divided into push-to-turn systems, color-to-color alignment systems, Luer-lock systems, and click-to-lock based on the closing mechanism segment. Earlier in 2019, the push-to-turn systems segment had a major market share. Now, on the other hand, the Luer-lock segment is expected to grow during the forecast period.

Closed System Drug Transfer Device – By Technology
Diaphragm
Compartmentalize
Air Filtration
The closed system drug transfer devices market is divided into the diaphragm, compartmentalize, and air filtration based on the technology segment. In 2020 the diaphragm segment held the major share of the closed system drug transfer devices market across the globe.
Closed System Drug Transfer Device – By Component
Vial Access devices
Syringe Safety devices
Line Access devices
Accessories
Based on the component the closed system drug transfer devices market is divided into vial access devices, syringe safety devices, line access devices, and accessories. The syringe safety devices market is estimated to grow during the forecast period. However, in 2019 vial access devices had a major market share and it is also estimated to grow significantly due to increased drug administration.

Closed System Drug Transfer Device – By End User
Hospitals
Clinics
Based on end-users the closed system drug transfer devices market is segmented into hospitals and clinics. In 2020, the hospital segment held the major market share of the closed-system drug transfer devices market and one of the various factors for the growth of the hospital segment is a large number of cancer patients. The hospital segment is estimated to continue the growth further also.
Regional Analysis
Geographically, North America is the dominating region for the closed system drug transfer devices market. It is controlling over 50% of the global CSDTs market. One of the major factors for the growth of the market in the region is the well-established healthcare infrastructure improved access to healthcare services, and ample reimbursement for various healthcare treatments.

The European market is estimated to grow at a CAGR of 9.52% over the forecast period. The various major factors that are driving the growth of the closed-system drug transfer devices market in Europe are the increased use of closed-system drug transfer devices for chemotherapy as well as advancements in regulatory rules for hazardous medications. Chemotherapy is one of the most widely used cancer therapies in Europe, with the UK having the largest demand in the region.

The closed-system drug transfer devices market in the Asia Pacific region is estimated to grow during the forecast period due to various factors such as the developing healthcare facilities and rising use of chemotherapy for the treatment of cancer.
Latin America is expected to have constant market growth in the closed-system drug transfer devices market. The market in this region is driven by factors such as the increase in the use of chemotherapy and improved regulatory requirements for dangerous medications. The shortage of legal requirements for the safety of health workers in emerging nations, on the other hand, limits the market's expansion.
The closed-system drug transfer devices market in Middle East & Africa is believed to have the least share. It is estimated that the market will grow at a significant pace due to the increasing usage of chemotherapy and closed system drug transfer devices. However, the lack of regulatory rules addressing the safety of health professionals in emerging nations is one of the major factors affecting market growth.

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Recent Market Developments
On 11 Jan 2018, Baxter International Inc. announced a distribution agreement for the Arisure Closed System Transfer device in the United States. It consists of several components that work together to help prevent contaminants from entering the intravenous (IV) medication delivery system and hazardous substances from escaping the system during drug preparation and administration.

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Sai Kiran
DataM Intelligence 4Market Research LLP
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