Closed System Transfer Devices Market Size, Share Global Analysis Report, 2020–2026

Industry Insights

[188+ Pages Report] According to the report published by Facts Factors, the global closed system transfer devices market size was worth around USD 340 million in 2019 and is predicted to grow to around USD 1,185 million by 2026 with a compound annual growth rate (CAGR) of roughly 20% between 2020 and 2026. The report analyzes the global closed system transfer devices market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the closed system transfer devices market.

This specialized and expertise oriented industry research report scrutinizes the technical and commercial business outlook of the Closed System Transfer Devices industry. The report analyzes and declares the historical and current trends analysis of the Closed System Transfer Devices industry and subsequently recommends the projected trends anticipated to be observed in the Closed System Transfer Devices market during the upcoming years.

The closed system transfer devices market report analyzes and notifies the industry statistics at the global as well as regional and country levels in order to acquire a thorough perspective of the entire Closed System Transfer Devices market. The historical and past insights are provided for FY 2016 to FY 2019 whereas projected trends are delivered for FY 2020 to FY 2026. The quantitative and numerical data is represented in terms of value (USD Million) from FY 2016 – 2026.

Key Insights from Primary Research

• According to an interview with industry participants, increasing approvals of number of oncology drugs has been driving the target market growth
• Amplification of regulatory guidelines associated with the handling of hazardous drugs has been propelling the target market growth
• Target market generated revenue of around USD 325 Million in 2018
• North America was the major revenue generator in 2018
• Membrane to membrane system, push to turn systems, syringe safety devices, compartmentalized devices, and hospitals categories of type, closing mechanism, component, technology, and end-user segments were the leading ones in 2018

Key Recommendations from Analysts

• As per our analyst, growth in the number of cancer coupled with the necessity of usage of hazardous cytotoxic drugs is anticipated to propel the target market growth
• Target market is expected to generate revenue of around USD 1,185 Million in 2026
• Target market is anticipated to grow at CAGR of around 20%
• North America is estimated to continue its dominance in 2026 as well
• Membrane to membrane system, push to turn systems, syringe safety devices, compartmentalized devices, and hospitals categories of type, closing mechanism, component, technology, and end-user segments are anticipated to be the dominating categories in 2026

Company Market Share

The quantitative data is further underlined and reinforced by comprehensive qualitative data which comprises various across-the-board market dynamics. The rationales which directly or indirectly impact the Closed System Transfer Devices industry are exemplified through parameters such as growth drivers, restraints, challenges, and opportunities among other impacting factors.

Throughout our research report, we have encompassed all the proven models and tools of industry analysis and extensively illustrated all the key business strategies and business models adopted in the Closed System Transfer Devices industry. The report provides an all-inclusive and detailed competitive landscape prevalent in the Closed System Transfer Devices market.

The report utilizes established industry analysis tools and models such as Porter’s Five Forces framework to analyze and recognize critical business strategies adopted by various stakeholders involved in the entire value chain of the Closed System Transfer Devices industry. The Closed System Transfer Devices market report additionally employs SWOT analysis and PESTLE analysis models for further in-depth analysis.

The report study further includes an in-depth analysis of industry players' market shares and provides an overview of leading players' market position in the Closed System Transfer Devices sector. Key strategic developments in the Closed System Transfer Devices market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the Closed System Transfer Devices market are appropriately highlighted in the report.

Numerous states are passing new legislation related to the issue began to address occupational exposure to hazardous drugs. This has propelled the target market growth. Moreover, closed system transfer devices help in preventing environmental contamination with harmful drugs. This has led to the augmented adoption of these devices further boosting target market growth. However, inadequate product efficiency in developing nations as well as a dearth of reimbursement may hinder the target market growth over the forecast period.

Factors such as easy availability of technologically advanced products owing to the presence of CSTD companies and rising awareness associated with the usage of CSTDs among healthcare professionals have been augmenting the target market growth. Moreover, the presence of developed healthcare infrastructure, growing research and development of CSTDs, and technological advancements coupled with rising adoption of has surged the target market growth.

The Closed System Transfer Devices market research report delivers an acute valuation and taxonomy of the Closed System Transfer Devices industry by practically splitting the market on the basis of different types, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026.

Report Scope

The regional segmentation of the Closed System Transfer Devices industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for the Closed System Transfer Devices industry is provided for the leading economies of the world.

The Closed System Transfer Devices market is segmented based on Type, Closing Mechanism, Component, Technology, and End-User. On the basis of type segmentation, the market is classified into needleless systems and membrane-to-membrane systems. In terms of closing mechanism segmentation, the market is bifurcated into color-to-color alignment systems, push-to-turn systems, Luer-lock systems, and click-to-lock systems. In terms of components, the target market is categorized as syringe safety devices, bag/line access devices, accessories, and vial access devices. In terms of technology, the target market is categorized as air cleaning/filtration devices, compartmentalized devices, and diaphragm-based devices. In terms of end-user, the target market is categorized as hospitals, oncology centers & clinics, and others.

Some of the essential players operating in the Closed System Transfer Devices market, but not restricted to include

•  Becton
•  Dickinson & Company
•  CODAN Medizinische Geräte GmbH & Co. KG.
•  B. Braun Medical Inc.
•  Baxter
•  Equashield LLC
•  Victus
•  Corvida Medical
•  Yukon Medical
•  ICU Medical Inc.
•  JMS Co.Ltd
•  Caragen Ltd.

The taxonomy of the Closed System Transfer Devices industry by its scope and segmentation is as follows:

By Type Segmentation Analysis

• Needleless Systems
• Membrane-To-Membrane Systems

By Closing Mechanism Segmentation Analysis

• Color-To-Color Alignment Systems
• Push-To-Turn Systems
• Luer-Lock Systems
• Click-To-Lock Systems

By Component Segmentation Analysis

• Syringe Safety Devices
• Bag/Line Access Devices
• Accessories
• Vial Access Devices

By Technology Segmentation Analysis

• Air Cleaning/Filtration Devices
• Compartmentalized Devices
• Diaphragm-Based Devices

By End-Users Segmentation Analysis

• Hospitals
• Oncology Centers & Clinics
• Others

By Regional Segmentation Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • Germany
  • The UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa