Closed System Transfer Devices Market : Key Industry Insights

The closed system transfer devices market is projected to reach USD 982 million by 2024 from an estimated USD 390 million in 2019, at a CAGR of 20.3%. The major factors driving the growth of this market include the rising prevalence of cancer, an increasing number of oncology drug approvals, increasing use of closed system transfer devices to combat the harmful effects of cytotoxic or antineoplastic drugs, and improving regulatory guidelines regarding the safe handling and use of hazardous drugs.

By type, the membrane-to-membrane systems segment accounted for the largest share of the closed system transfer devices market

Based on type, the market is divided into membrane-to-membrane systems and needleless systems. The membrane-to-membrane systems segment accounted for the largest market share in 2018. Membrane-to-membrane systems are easy to operate, less prone to contamination, and can be used with existing equipment, unlike needle-free connectors. These advantages are driving the adoption of membrane-to-membrane systems during the forecast period.

Syringe safety devices to witness the highest growth in the closed system transfer devices market, by component

Based on component, the closed system transfer devices market is segmented into vial access devices, syringe safety devices, bag/line access devices, and accessories. In 2018, the vial access devices segment accounted for the largest share of the closed system transfer devices market. The large share of this segment is mainly due to the increasing adoption of CSTD products and vial access devices by oncology nurses for the transfer of hazardous drugs from packaged vials to the infusion bag or the patient. The syringe safety devices segment is expected to grow at the highest CAGR during the forecast period. Growth in this segment can be primarily attributed to the increasing administration of hazardous drugs directly to the patient via syringe injections.

Compartmentalized devices to witness the highest growth in the closed system transfer devices market, by technology

Based on technology, the closed system transfer devices market is segmented into diaphragm-based devices, compartmentalized devices, and air cleaning/filtration devices. In 2018, the diaphragm-based devices segment accounted for the largest share of the closed system transfer devices market. The large share of this segment is mainly due to the ease of operation and safety provided by these devices. The compartmentalized devices segment is expected to grow at the highest CAGR during the forecast period due to their lower cost.

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North America, the largest regional market for closed system transfer devices

North America accounted for the largest share of the closed system transfer devices market in 2018, followed by Europe and the Asia Pacific. The market in North America is characterized by the easy accessibility to advanced technologies; high awareness about CSTDs among oncologists, nurses, and pharmacists; the presence of a large number of CSTD manufacturing players in this region; and the high incidence and prevalence of cancer.

Becton, Dickinson and Company (US), Equashield LLC. (US), and ICU Medical, Inc. (US), B. Braun Melsungen AG (Germany), Corvida Medical (US), Yukon Medical (US), JMS Co., Ltd. (US), CODAN Medizinische Geräte GmbH & Co KG (Germany), Baxter International, Inc. (US), VICTUS (US), and Caragen Ltd. (Ireland) are some of the leading players in this market. These companies are focusing on increasing their presence in the high-growth markets through both organic as well as inorganic growth strategies such as product launches, approvals, expansions; collaborations and partnerships; and acquisitions.

Becton, Dickinson and Company is the leading player in the closed system transfer devices market. The firm’s leading position in this market can be attributed to its wide product portfolio, which includes hazardous drug safety products, such as the PhaSeal and Texium systems. The company has a wide geographic presence spanning across the US, Canada, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The adoption of BD’s PhaSeal system is higher as compared to other CSTDs in the US and other international markets. This is due to the compatibility of BD’s PhaSeal system with many chemotherapy drugs. The company has experienced steady revenue growth over the past three years. In 2018, BD reported a 29.6% increase in its medication delivery solutions segment’s revenue to reach USD 3.64 billion in 2018 from USD 2.81 billion in 2017. In order to sustain its leading position in the market, the company focuses on expansions.

Equashield held the second position in the closed system transfer devices market. The company offers closed syringes and adapters for accessing vials and IV bags in pharmacies as well as connectors and tubing sets for nursing departments. The company distributes its products in the US. Outside the US, Equashield distributes and provides services to customers in four continents through its international network of distributors. Equashield’s product suite includes EQUASHIELD I and II (its flagship CSTDs) and EQUASHIELD Pro (a system-enabled multi-station hazardous IV drug compounder). The company focuses on increasing its distribution network in the emerging markets to cater to the growing demand for CSTDs. In October 2018, the company signed a partnership with Max Care Medical (Saudi Arabia) to distribute and market its CSTD products in Saudi Arabia and MEA.

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