The Closed System Drug Transfer Device (CSTD) Market Research Report - Global Forecast till 2025 is poised to expand at 19.10% CAGR over the forecast period (2018-2025), Confirms MRFR
Leading Market Key Players
1. Teva Pharmaceutical Industries Ltd. (Israel),
2. Becton, Dickinson and Company (U.S.)
3. Corvida Medical (U.S.)
4. ICU Medical Inc. (U.S.)
5. Yukon Medical (U.S.)
6. Equashield LLC (U.S.)
Closed System Drug Transfer Device (CSTD) Market Overview
The market is driven by the prevalence of cancer cases globally. According to the Canadian Cancer Society in 2017, nearly 206, 200 instances were registered with 80,800 dying from the disease. CSTDs are required for protecting hospital staff from hazardous drugs and ensuring their safety. Furthermore, safety guidelines outlined by regulatory bodies for safe handling practices at hospitals and clinics is predicted to augur well for the closed system drug transfer device (CSTD) market.
The need to ensure drug transfer without the threat of environmental contaminants is favoring the expansion of the closed system drug transfer device market.Reports that evaluatethe healthcare industry have been made accessible by Market Research Future, which generates reports on several industry verticals that review the market growth and prospects. The market is projected to achievereturns worth USD 6,312.52 million while progressing with a 19.10% CAGR in the forecast period.
Segmentation :
The closed system drug transfer device (CSTD) market is segmented by type, delivery, and end-user.
By type, barrier-type was the largest shareholder in 2017, while the filtration-type held stood second in the global market. This can be attributed to the use of filtration systems for segregating hazardous materials to ensure the safety of hospital staff. By modes of delivery, closed bag/line access devices accounted for the largest share in the CSTD market (2017). Among end-users, specialty centers held 70.92% market share in 2017. This can be linked to high use of chemotherapy drugs by oncology professionals to treat patients suffering from cancer.
Regional Analysis
Geographically, the closed system drug transfer device (CSTD) market covers the upcoming trends in Europe, Asia Pacific (APAC), Americas, and the Middle East & Africa (MEA).
The Americas accounted for the largest market share in 2017 and was followed by Europe, APAC and MEA.
Europe has assumed the second position after the Americas mainly due to the sophisticated healthcare industry. Awareness of the adverse effects of drug exposure which may cause infertility coupled with availability of CSTD products for hospitals can evoke high market demand during the forecast period.
Global Closed System Drug Transfer Device (CSTD) Market Research Report: by Type (Barrier-Type, Filtration-Type), by Delivery (Closed Bag/Line Access Devices, Closed Vial Access Devices, Closed Syringe Safety Devices), by End-user - Forecast till 2025. To Know more visit @
https://www.marketresearchfuture.com/reports/closed-system-drug-transfer-device-market-7733
Drivers
Rising Prevalence of cancer cases
Increased risk of exposure to hazardous drugs for healthcare personnel
Several safety guidelines and legislation for the use of
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