closed systems drug transfer devices Market

The closed system drug transfer devices market was valued at US$ 374.48 million in 2019 and is projected to reach US$ 1,661.83 million by 2027; it is expected to grow at a CAGR of 20.5% from 2020 to 2027.

Increasing adoption of chemotherapy and the improvement of regulatory guidelines regarding hazardous drugs are the key factors fueling market growth. Moreover, the rising number of chemotherapeutic drug approvals is expected to foster market growth during the forecast period. However, the lack of regulatory guidelines regarding health workers' safety in emerging countries hinders the development of the closed system drug transfer devices market. Additionally, the outbreak of pandemic has also affected the CSTD market across the region. At present, the majority of the manufacturing companies and research institutes and centers are involved in diagnosing the coronavirus and vaccines to treat the deadly virus. Thus, the shift of medical device and research centers and diagnostics laboratories towards the COVID19 pandemic has hindered the market growth. However, it is expected that the impact of the pandemic is likely to be seen for a few years.

The closed system drug transfer devices protect hazardous drugs or vapors during drug preparation and administration. It comprises components that enable the filtering of dangerous vapors out of the system. Closed system drug transfer devices play a significant role in the protection of healthcare professionals from antineoplastic as well as other harmful medications. The growing emphasis on the implementation of occupational health and safety standards by government authorities is offering lucrative opportunities for the market's growth.

The global closed system drug transfer devices market is segmented based on closing mechanism, type, technology, component, end user. Based on the closing mechanism, the market is segmented into push-to-turn systems, Luer-lock systems, color-to-color alignment systems, and click-to-lock systems. The push-to-turn systems segment held the largest share of the market in 2019; however, the Luer-lock systems segment is anticipated to register the highest CAGR during the forecast period. The closed system drug transfer devices market is segmented into membrane-to-membrane systems and needleless systems based on type. The membrane-to-membrane systems segment held the largest share of the market in 2019. However, the needleless systems segment is anticipated to register the highest CAGR during the forecast period. Based on technology, the closed system drug transfer devices market is segmented into diaphragm-based devices, compartmentalized devices, and air cleaning/filtration devices. The diaphragm-based devices segment held the largest share of the market in 2019. However, the compartmentalized devices segment is anticipated to register the highest CAGR during the forecast period. Based on component, the closed system drug transfer devices market is segmented into vial access devices, syringe safety devices, bag/line access devices, and accessories. The vial access devices segment held the largest share of the market in 2019. However, the syringe safety devices segment is anticipated to register the highest CAGR during the forecast period. The closed system drug transfer devices market is segmented into hospitals and clinics, oncology centers, and others based on end users. The hospitals and clinics systems segment held the largest share of the market in 2019, and also is anticipated to register the highest CAGR during the forecast period.

The World Health Organization (WHO), Centers for Disease Control and Prevention (CDC), and National Health Service are a few of the essential primary and secondary sources studied while preparing this report.