Global Closed System Transfer Devices Market Report and Forecast 2024-2032

Global Closed System Transfer Devices Market Outlook

The global closed system transfer devices market size attained a value of USD 1,048.13 million in 2023. The rapid Growth in Hospitals and Clinics is the main reason to Fuel the Market Growth of Closed System Transfer Devices. The market is anticipated to grow at a CAGR of 19.2% during the forecast period of 2024-2032 to attain a value of USD 5,092.13 million by 2032.

North America to Hold Significant Share in the Market Growth of Closed System Transfer Devices

During the forecast period, the region of North America is expected to account for a significant market share on account of the high awareness regarding such devices among nurses, pharmacists, and oncologists. Cancer is highly prevalent  in the region, and there is a strong presence of various market players such as Baxter International Inc. and Becton, Dickinson, and Company, among others. Both these factors, as well as easy accessibility to advanced technologies, are expected to propel the growth of the closed system transfer devices market in North America.

Meanwhile, Asia Pacific is projected to bolster the market growth of closed system transfer devices during the forecast period on account of the surging utilisation in Asia Pacific. There is a rising demand for advanced healthcare services, an increase in the overall population, and increasing investments of international players in emerging economies like India and China.

Market Segmentation

A Closed System Drug-Transfer Device (CSTD) is primarily classified as a drug transfer device, used to mechanically excludes the transfer of environmental toxins into the system. They also evade harmful drug or vapor concentrations that maybe located outside the system. They usually feature one of two design concepts, utilising a physical barrier for transfer exclusion, or an air-cleaning technology to prevent escape of harmful drugs into the surrounding environments.

By type, the bifurcation of the market is into:

• Needleless

• Membrane to Membrane

Based on technology, the market is categorised into:

• Diaphragm Based

• Filtration

• Compartmentalised

On the basis of end uses, the closed system transfer devices market is segregated into:

• Hospitals and Clinics

• Oncology Centres

• Others

The EMR report looks into the regional markets of closed system transfer devices like Latin America, North America, Europe, the Asia Pacific, and the Middle East and Africa.

Rapid Growth in Hospitals and Clinics to Fuel the Market Growth of Closed System Transfer Devices

Based on end use, the segment expected to register robust growth market across the globe is hospitals and clinics. Hospitals have strong financial capabilities for acquiring high-priced devices, a large cancer patient population, and a requirement to obey with regulatory guidelines, bolstering market demand from hospitals.

Advancements in medical research and technology and the growing healthcare industry are expected to fuel the closed system transfer devices market growth globally. There is a surging usage of the needleless segment as it offers a faster and more efficient way of administering vaccines coupled. Strict medical guidelines for safe usage of harmful drugs is also likely to drive the market growth.

Key Players in the Global Market for Closed System Transfer Devices

The report presents a detailed analysis of the following key players in the global closed system transfer devices market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Baxter International Inc.

• B. Braun Holding Gmbh & Co. Kg

• Becton, Dickinson, and Company

• Corvida Medical, Inc.

• Caragen Ltd

• Others

The comprehensive report looks into the macro and micro aspects of the market. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report