Closed System Transfer Device (CSTD) Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

A closed system drug transfer device (CSTD) is a device that mechanically prevents the transfer of environmental contaminants into a system and the escape of hazardous drug or vapor concentrations outside the system. Open versus closed systems are usually applied in medical devices to maintain the sterility of a fluid pathway.

MARKET SCOPE

The "Global Closed System Drug Transfer Device Market Analysis to 2031" is a specialized and in-depth study of the healthcare IT industry with a special focus on the global market trend analysis. The report aims to provide an overview of the Closed system drug transfer device market with detailed market segmentation by type, application, and geography. The report provides key statistics on the market status of the leading Closed system drug transfer device market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•  Based on type, the global Closed system drug transfer device market is segmented into closed vial access devices, closed syringe safety devices, closed bag/line access devices.
  
•  On the basis of application, the market is segmented into hospital, clinic.
  

MARKET DYNAMICS

Drivers:

•  Rise in the incidences of cancer.
  
•  Growing number of oncology drug approvals.
  
•  Growing usage of closed system transfer devices in order to prevent the harmful effects of cytotoxic or antineoplastic drugs
  
•  Advancement in new technology.
  

Restraints:

•  The high cost of implementation of CSTDs, along with a lack of reimbursement for CSTDs are the major restraining factor for this market.
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Closed system drug transfer device market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Closed system drug transfer device market in these regions.

IMPACT OF COVID-19 ON ZOMBIE MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

MARKET PLAYERS

The report covers key developments in the Closed system drug transfer device market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Closed system drug transfer device market are anticipated to lucrative growth opportunities in the future with the rising demand for Closed system drug transfer device in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Closed system drug transfer device market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•  B. Braun Medical Inc.
  
•  BD Medical, Inc.
  
•  Cardinal Health
  
•  Carmel Pharma, Inc.
  
•  Corvida Medical
  
•  Equashield LLC.
  
•  Hospira (acquired by Pfizer)
  
•  ICU Medical, Inc.
  
•  Teva Medical Ltd
  
•  Yukon Medical
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Closed System Transfer Device (CSTD) Report Scope