Market Overview
The market for Closed System Drug Transfer Devices was estimated to be worth USD 1.07 billion by 2023. The market is expected to increase from USD 1.20 billion in 2024 to USD 2.87 billion by 2032, with a compound annual growth rate (CAGR) of 10.17% for the forecast period (2024-2032). The rising incidence of cancer worldwide, combined with tight regulatory requirements in the healthcare industry, is propelling market expansion.
The rising incidence of cancer around the world is driving the global closed-system drug transfer device (CSTD) market. This is because cancer treatment frequently necessitates the use of toxic medications, which can be dangerous to healthcare professionals. The device creates a closed and leak-proof system to aid in the escape of these hazardous substances into the environment. Furthermore, the cancer burden is increasing globally as a result of reasons such as an aging population, environmental variables, improved diagnostic capabilities, and lifestyle changes, all of which are driving market expansion.

Marketing Segmentation

  • The global closed-system drug transfer device market is divided into two types: membrane-to-membrane systems and unnecessary systems.
  • The market is divided into four components: vial access devices, syringe safety devices, bag/line access devices, and accessories.
  • The market is divided into push-to-turn systems, color-to-color alignment systems, leur lock systems, and click-to lock systems according on the closing mechanism.
  • The Closed System Drug Transfer Device Market is divided into three technology segments: compartmentalized devices, diaphragm-based devices, and air filtration devices.
  • The market is split by end user, including hospitals, clinics, specialized centers, and others.

Regional insights

  • The Closed System Drug Transfer Device Market has been classified by region: North America, Europe, Asia-Pacific, and the Rest of the World. North America held the highest market share in 2023 and is expected to reach USD 9.92 billion by 2032, with a CAGR of 9.10% over the forecast period.
  • North America has the greatest market share of 38.14% and is expected to lead the global CSTD market. This huge market share is attributed to the rising number of cancer cases and the robust research and development infrastructure. For example, in 2020, the United States reported 1,603,844 new cancer cases and 602,347 cancer deaths.
  • Asia-Pacific is likely to have considerable growth and will be the fastest growing region over the projection period, owing to the increasing number of new vendors active in the drug-device system, as many regional/small market participants attempt to gain market share.
  • The Closed System Drug Transfer Device Market is distinguished by the presence of numerous global, regional, and domestic vendors. The market is extremely competitive, with all firms vying for the highest market share. Intense rivalry and frequent changes in government rules and regulations are major factors influencing market growth.

Major Players
Becton, Dickson, and Company, Inc., Baxter International Inc., ICU Medical, Inc., JMS Co.Ltd, B. Braun SE, Simplivia (Israel), Becton, Cormed (US), Yukon Medical (US), Caragen Ltd. (Ireland), Equishield, and others are among the major participants in the Closed System Drug Transfer Device Market.