Growing Emphasis on Improving Safety of Healthcare Workers to Drive Innovations

Closed system transfer device (CSTD), also known as the closed system drug-transfer device, is extensively used to prevent the transfer of harmful environmental contaminants into the system. It also restricts vapor concentrations of hazardous drugs from leaving the system. At present, closed system transfer devices primarily deploy two main design concepts– one that includes an air-cleaning technology and a physical barrier technology. The increasing focus on improving the overall safety of healthcare workers that are responsible for the administration and compounding of hazardous drugs is expected to play an instrumental role in augmenting the closed system transfer devices (CSTD) market during the forecast period.

Rising investments in recent years toward the development of an efficient drug-handling chain are projected to provide a considerable boost to the growth of the global closed system transfer devices (CSTD) market in the upcoming years. Moreover, rise in the inclusion of closed system transfer devices (CSTD) in various drug safety programs in conjunction with various other engineering controls is another factor likely to propel the global closed system transfer devices (CSTD) market during the assessment period.

At the back of these factors, the global closed system transfer devices (CSTD) market is expected to reach the US$ 2.4 Bn mark by the end of 2030.

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Establishing CSTD Performance Standards and Protocols to Remain Key Area of Focus

Over the past few years, closed system transfer device designs and models have evolved at a rapid pace due to which, a number of independent testing procedures to assess the closed system transfer device performance has gained popularity. At present, players involved in the current closed system transfer devices (CSTD) market are increasingly focusing on complying with the closed system transfer device performance standards that primarily focus on patient protection and sterile practices. Furthermore, a number of researchers involved in the current closed system transfer device market landscape are increasingly focusing on the development of test protocols that evaluate closed system transfer devices containment of hazardous drugs.

Researchers and pharmacists from around the world are working in tandem with each other to curate a well-defined closed system transfer device standard and protocol. A new protocol proposed by the scientists at NIOSH are likely to be used by consumers to make comparison of different closed system transfer device products and manufacturers to assess the prototype closed system transfer devices. In addition, the ability of the various closed system transfer devices to restrict the contamination of parental drug products offers tremendous potential to enable extended beyond use dating (BUD), which, in turn, is anticipated to minimize wastage and reduce expenditure in the long run. This factor is likely to contribute to the growth of the global closed system transfer devices (CSTD) market during the assessment period.

Market Players Eye Product Launch to Gain Advantage

Research and development activities are set to play a key role in the overall development of the global closed system transfer devices (CSTD) market during the assessment period. A number of market players are increasingly focusing on expanding their product portfolio to strengthen their foothold in the current closed system transfer devices (CSTD) market. For instance, in January 2018, Baxter announced that the company has reached a distribution agreement for the U.S. launch of Arisure closed system transfer device that is expected to assist in the prevention of contaminants from entering the intravenous medication delivery systems. Similarly, in April 2019, Equashild LLC announced the launch of the EQUASHIELD PRO robot, which was the first automated transfer robot.

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COVID-19 Impact: Market Growth to be Affected Due to Disruptions in Global Pharmaceutical Supply Chain

The outbreak of the COVID-19 pandemic is expected to have a strong impact on the overall development of the global closed system transfer devices (CSTD), especially in the first half of the forecast period. Fluctuating economies around the world, stringent border control, and lockdowns in several nations around the world have affected the global pharmaceutical supply chain in 2020. Although a majority of pharmaceutical lines across the world have resumed, market players are anticipated to focus on addressing the barriers across the supply chain in the upcoming months.

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Analysts’ Viewpoint                   

The global closed system transfer devices (CSTD) market is expected to expand at a CAGR of ~11% during the assessment period. The market growth can be primarily attributed to factors such as increase in the usage of oncology drugs to treat cancer, advent of new protocols, change in performance standards, research and development activities, and high demand for optimum cancer care. Players operating in the current market landscape should focus on addressing issues related to the supply chain mainly due to by the COVID-19 pandemic. Moreover, market players should also leverage collaboration opportunities and focus on expanding their product portfolio to improve their position in the market.

Closed System Transfer Devices (CSTD) Market: Overview

  • Closed system transfer devices (CSTDs) are used to transfer medication from one reservoir to another, while limiting the potential for drug aerosolization, drug contamination, sharps exposure, and hazardous drug exposure
  • Several regions have emerged as hubs of cancer research, drug development, and medical testing. This has fueled the growth of the closed system transfer devices (CSTD) market in the U.S. and Europe over the past few years.

Closed System Transfer Devices (CSTDs) Market: Drivers

  • Treatment of cancer patients requires compassion, and it should not take a toll on patients. Drugs such as doxorubicin used in chemotherapy is the backbone of medical oncology.
  • These drugs contain antineoplastic agents, which are extremely toxic to clinicians who handle them. Prolonged exposure could lead to hair loss, birth defects, infertility, and even cancer. Hence, safe handling of these drugs is required to ensure safety.
  • The Lancet Oncology Journal has projected that the number of patients needing chemotherapy each year will rise from 9.8 million in 2018 to 15 million to 2040 globally
  • Efforts taken by the World Health Organization (WHO) in promoting cancer research and drug development have contributed to the growth of the closed system transfer devices market

Law Enforcement to Handle Hazardous Drugs in Healthcare Settings

  • Government bodies such as the National Institute for Occupational Safety and Health (NIOSH) recommend (2004) that healthcare workers use a CSTD throughout the hazardous drug-handling chain, from pharmaceutical compounding to patient dose administration
  • Moreover, the United States Pharmacopeial Convention’s draft General Chapter USP 800 in 2016, under the guidance of (NIOSH), encourages healthcare professionals in early adoption and implementation of General Chapter <800>, which mandates the use of a closed system transfer devices (CSTD) for administration of hazardous drugs to ensure a safe environment and protection of healthcare practitioners. This is likely to drive the demand for closed system transfer devices.

Market Segmentation: Closed System Transfer Devices (CSTD) Market

  • In terms of product, the global closed system transfer devices (CSTD) market has been divided into systems (needle free systems and needle systems), component (vial adaptors and syringe adaptors), tubing sets, and accessories
  • Based on application, the global closed system transfer devices (CSTD) market has been categorized into pharmacy, nursing, and veterinary
  • In terms of distribution channel, the global closed system transfer devices (CSTD) market has been bifurcated into direct sales and distributors

Regional Overview: Closed System Transfer Devices (CSTD) Market

  • In terms of region, the global closed system transfer devices (CSTD) market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • The U.S. was the major market for closed system transfer devices (CSTD) in 2019 due to rise in cancer patient population and increase in demand for new products. Additionally, presence of leading players drives the closed system transfer devices (CSTD) market in the region.
  • The current and future market sizes in terms of value (US$ Mn) of these regional markets and major countries have been provided in the report for the period from 2018 to 2030, along with their CAGRs for the period from 2020 to 2030
  • The study also offers a list of recommendations, highlights, and useful insights of the market, which are estimated to help new companies willing to enter the closed system transfer devices (CSTD) market and existing companies to increase market share and in the decision-making process

Major Players

  • The report concludes with the company profiles section that includes key information about the major players in the global closed system transfer devices (CSTD) market
  • Leading players analyzed in the report are
    • ICU Medical, Inc.
    • Baxter International, Inc.
    • B. Braun Melsungen AG
    • Becton
    • Dickinson and Company
    • Equashield LLC
    • Corvida Medical
    • Yukon Medical
    • Caragen Ltd.
    • JMS Co. Ltd.
  • Each of these players has been profiled in the report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments

Closed System Transfer Devices (CSTD) Market – Scope of the Report

TMR’s report on the global closed system transfer devices (CSTD) market studies the past as well as the current growth trends and opportunities to gain valuable insights of these indicators for the market during the forecast period from 2020 to 2030. The report provides the revenue of the global closed system transfer devices (CSTD) market for the period 2018–2030, considering 2019 as the base year and 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR %) of the global closed system transfer devices (CSTD) market from 2020 to 2030.

The report has been prepared after extensive research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with key opinion leaders, industry leaders, and opinion makers. Secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global closed system transfer devices (CSTD) market.

Secondary research also included Internet sources, statistical data from government agencies, websites, and trade associations. Analysts have employed a combination of top-down and bottom-up approaches to study various attributes of the global closed system transfer devices (CSTD) market.

The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments and sub-segments included in the scope of the study. Moreover, the report sheds light on changing competitive dynamics in the global closed system transfer devices (CSTD) market. These serve as valuable tools for existing market players as well as entities interested in participating in the global closed system transfer devices (CSTD) market.

The report delves into the competition landscape of the global closed system transfer devices (CSTD) market. Key players operating in the global closed system transfer devices (CSTD) market have been identified and each one of these has been profiled in terms of various attributes. Company overview, financial standings, recent developments, and SWOT are attributes of players in the global closed system transfer devices (CSTD) market that have been profiled in this report.

Key Questions Answered in Closed System Transfer Devices (CSTD) Report

  1. What is the sales/revenue generated by closed system transfer device (CSTD) providers across all regions during the forecast period?
  2. What are the opportunities in the global closed system transfer devices (CSTD) market?
  3. What are the major drivers, restraints, opportunities, and threats in the global market?
  4. Which region is set to expand at the fastest CAGR during the forecast period?
  5. Which product segment is expected to generate the highest revenue globally in 2030? Which segment is projected to expand at the highest CAGR during the forecast period?
  6. What are the market positions of different companies operating in the global market?

Closed System Transfer Devices (CSTD) Market – Research Objectives and Research Approach

The comprehensive report on the global closed system transfer devices (CSTD) market begins with an overview, followed by the scope and objectives of the study. Following this, the report provides detailed explanation of the objectives behind this study and key vendors and distributors operating in the market and regulatory scenario for approval of products.

For reading comprehensibility, the report has been compiled in a chapter-wise layout, with each section divided into smaller ones. The report comprises an exhaustive collection of graphs and tables that have been appropriately interspersed. Pictorial representation of actual and projected values of key segments is visually appealing to readers. This also allows comparison of market shares of key segments in the past and at the end of the forecast period.

The report analyzes the global closed system transfer devices (CSTD) market in terms of product, application, distribution channel, and region. Key segments under each criteria have been studied at length, and the market share for each of these at the end of 2030 has been provided. Such valuable insights enable market stakeholders to make informed business decisions for investment in the global closed system transfer devices (CSTD) market.

Closed System Transfer Devices (CSTD) Market – Segmentation

TMR’s study on the global closed system transfer devices (CSTD) market includes information divided into four segments: product, application, distribution channel, and region. Changing industry trends and other crucial market dynamics associated with these segments of the global closed system transfer devices (CSTD) market have been discussed in detail.

Product

  • Systems
  • Needle Free Systems
  • Needle Systems
  • Component
  • Vial Adaptors
  • Syringe Adaptors
  • Tubing Sets and Accessories

Application

  • Pharmacy
  • Nursing
  • Veterinary

Distribution Channel

  • Direct Sales
  • Distributors

Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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