Closed system drug transfer device (CSTD) prevents the transfer of environmental contaminants into the system and the release of hazardous drugs or vapor concentrations outside the system. The exposure of healthcare personnel such as pharmacists, technicians, and ancillary pharmacy staff to hazardous antineoplastic drugs (AHD), has been a great concern for several decades. Many AHDs are carcinogenic, and their prolonged exposure could lead to skin rashes, infertility, miscarriages, congenital disabilities, and possibly leukemia or other cancers. Organizations such as the National Institute for Occupational Safety and Health (NIOSH) and the United States Pharmacopeia have recommended the use of specialized IV equipment called CSTD along with personal protective equipment (PPE) such as gloves, masks, gowns, and biological safety cabinets to minimize the exposure of patients and clinicians to hazardous drugs. The global CSTD market is emerging due to the rising prevalence of cancer cases along with an increased risk of exposure to hazardous drugs for healthcare personnel and several safety guidelines and legislation for the use of CSTDs. However, high cost and adverse events and statutory warnings by the Food and Drug Administration (FDA) for the use of CSTDs are hampering the growth of the market.
The global closed system drug transfer device (CSTD) market has been segmented, by type, delivery, and end user.
Based on type, the global closed system drug transfer device (CSTD) market has been categorized as barrier-type and filtration-type.
Based on delivery, the global closed system drug transfer device (CSTD) market is further sub-segmented into closed bag/line access devices, closed vial access devices, and closed syringe safety devices.
Based on end user, the market has been classified as specialty centers and hospitals & clinics.
The global closed system drug transfer device (CSTD) market was valued at USD 1,523.81 million in 2017 and is expected to register a CAGR of 19.10% during the forecast period of 2018 to 2025.
Some of the key players in the global closed system drug transfer device (CSTD) market are Becton, Dickinson and Company, Teva Pharmaceutical Industries Ltd, Equashield LLC, ICU Medical Inc, Yukon Medical, and Corvida Medical.
Objectives of the Study
• To provide a detailed analysis of the market structure along with a forecast of various segments and sub-segments of the global closed system drug transfer device (CSTD) market
• To provide insights into factors influencing and affecting market growth
• To provide historical and forecast revenue of market segments and sub-segments with respect to countries
• To provide strategic profiling of key players in the market and comprehensively analyzing their market share, core competencies, and drawing a competitive landscape for the market
• To provide economic factors that influence the global closed system drug transfer device (CSTD) market
• To provide a detailed analysis of the value chain and supply chain of the global closed system drug transfer device (CSTD) market
• Research and Development (R&D) Companies
• Academic Institutes and Universities
• Pharmaceutical Companies
• Raw Material Suppliers
• Suppliers and Distributors
• Potential Investors
• The global closed system drug transfer device (CSTD) market is expected to reach USD 6,312.52 million by 2025 at a CAGR of 19.10% from 2018 to 2025
• Based on type, the barrier-type segment holds the largest market share and is expected to reach USD 5,526.38 million by 2025 at a CAGR of 19.69% from 2018 to 2025
• The market in the Americas is expected to account for the largest share of the global closed system drug transfer device (CSTD) market and is projected to reach USD 2,880.78 million by 2025
• The closed system drug transfer device (CSTD) market in Asia-Pacific is projected to be the fastest-growing at a CAGR of 20.97% from 2018 to 2025
o North America
o Latin America
o Western Europe
Rest of Western Europe
o Eastern Europe
o South Korea
o Rest of Asia-Pacific
• Middle East & Africa
o Middle East