Closed System Transfer Devices Market Analysis | 2022-2028

"The Closed System Transfer Devices Market was estimated at US$ 823 million in 2021 and is expected to grow at a CAGR of 4.8% during 2022-2028 to reach US$ ~1140 million in 2028".

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Market Dynamics

Introduction

Closed system transfer devices (CSTD) are drug transfer devices that limit the exposure of toxic and damaging medications or vapors to the surrounding environment. These devices protect patients and healthcare staff while using dangerous drugs/chemicals.

Because of the potential harm that hazardous drugs/chemicals can bring to healthcare workers and patients in healthcare/clinical settings, limiting exposure to them is critical. Because of the rising frequency of dangerous medication exposures in many countries, regulatory authorities have made numerous steps to guarantee the safety of patients and healthcare personnel.

Market Drivers

The global closed system transfer devices (CSTD) market is predicted to rise significantly as a result of factors such as increased oncology drug approvals and growing knowledge about the use of closed system transfer devices. Additionally, technological advances in closed system transfer devices are expected to drive market expansion.

The high cost of implementing closed system transfer devices, on the other hand, directly raises the cost of treatment/products. Furthermore, inadequate regulatory guidelines in developing and implementing the same are hindering the market's growth for closed system transfer devices.

The prevalence of chronic diseases such as diabetes, cancer, heart disease, and stroke has increased. Other lifestyle diseases on the rise include chronic lung disease, chronic kidney disease, and Alzheimer's disease. According to the Centers for Disease Control and Prevention, six out of ten adults in the United States have at least one chronic disease, and four out of ten persons have two or more. According to a 2020 report by the Centers for Disease Control and Prevention, chronic lower respiratory disease affects around 15.7 million Americans. The increasing population impacted by chronic diseases, as well as the increased demand for new drug delivery technologies, are projected to drive market expansion. The rising prevalence of such chronic diseases has fueled advancements in needleless drug administration technology.

The high prevalence of chronic diseases such as cancer and diabetes is likely to drive market expansion throughout the predicted period. According to the International Diabetes Federation's IDF Diabetes Atlas Tenth Edition, diabetes will impact around 537 million persons by 2021. Cases are expected to increase to 643 million by 2030 and 783 million by 2045. Type 1 diabetics require insulin injections to control their blood sugar levels. Companies such as Insujet provide needle-free insulin therapy solutions, which are expected to contribute to the needleless systems segment's growth throughout the forecast period.

Several investments/guidelines in the industry have been directed in recent years, which would boost the overall market. Some of them are:

• The rising global prevalence of cancer, as well as an increase in the number of oncology product approvals, are important drivers driving the expansion of the studied industry. According to the GLOBOCAN 2020 estimate, the total number of cancer cases in the world in 2020 would be around 19,292,789 cases. The number of cases is expected to climb to 28,887,940 by 2040. The large number of cancer patients, which creates a desire for innovative medication delivery systems, is likely to contribute to the growth of the closed system transfer devices market.

Recent Developments

Closed system transfer devices are subject to fierce rivalry. The global market for this is relatively consolidated and competitive. Market participants are concentrating their efforts on new product releases, product innovations, and global expansion. Among the leading market participants are Becton, Dickinson and Company, ICU Medical, Inc., Caragen Ltd., Baxter International Inc., and B. Braun Melsungen AG. Additionally, a few notable industry mergers and acquisitions in recent years have had a big impact on the dynamics of competition.

• In May 2022, Pulse NeedleFree Systems introduced a disposable line of needle-free animal vaccination devices. The product combines the advantages of needle-free technology with the convenience of plug-and-play operation at a price comparable to conventional syringes and needles.
• In February 2022, Zydus Cadila began giving the government of India their needle-free anti-Covid vaccination ZyCoV-D.
• In December 2021, B. Braun Medical Inc. will commercialize the OnGuard 2 CSTD in the United States. The OnGuard 2 retained all of the prior OnGuard's benefits while providing improved materials and enhanced functions to improve usage.

Segments Analysis

By Type

"The needleless system category is expected to increase at a rapid pace during the forecast period".

The segment is bifurcated into needless systems, membrane to membrane systems. The needleless system category is expected to increase at a rapid pace due to benefits such as needle-free medicine transmission, new product launches, and safety. The benefits, such as ease of use and reduced risk of contamination, are expected to enhance the use of needleless transfer devices over the projected period.

By Closing Mechanism Type

The segment is divided into colour-to-colour alignment systems, Lueker lock systems, push-to-turn systems, and click-to-lock systems.

Regional Analysis

"North America dominated the market during the forecast period".

The market is broken down geographically into areas like North America, Europe, Asia-Pacific, and the Rest of the World (RoW). The market for closed system transfer devices is projected to be dominated by North America. The increase is ascribed to steps done by the US Food and Drug Administration and other North American regulatory authorities to enhance patient safety, as well as an increase in the number of oncology drug approvals in the region.

The Asia Pacific region is expected to rise at a significant rate due to reasons such as increased cancer research and rising cancer prevalence in the region's emerging and poor countries. Furthermore, the use of closed system transfer devices to combat dangerous drugs in the region, as well as ongoing initiatives by public and commercial groups, are expected to improve the regional economy.

The increasing prevalence of chronic diseases in North America is fueling the growth of the closed system transfer devices market. Cancer ranks among the top ten causes of death in the United States. According to the National Diabetes Statistics Report, approximately 37.3 million people in the United States will have diabetes by 2020, with approximately 96 million adults having pre-diabetes. The National Kidney Foundation estimates that around 36 million persons in the United States will have chronic kidney disease by 2020.

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Key Players

The following are the key players in the Closed System Transfer Devices Market (arranged alphabetically)

• B. Braun Melsungen AG
• Baxter International, Inc.
• Becton
• Caragen Ltd.
• Corvida Medical
• Dickinson and Company
• Equashield LLC
• ICU Medical, Inc.
• JMS Co. Ltd.
• Yukon Medical

Note: The above list does not necessarily include all the top players in the market.

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This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

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