Closed System Transfer Devices Market Forecast and Insights: Exploring Growth Trends, Market Size, and Emerging Opportunities
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
Which Major Market Drivers Are Expected to Boost the Growth Potential of the Closed System Transfer Devices Market?
The escalating prevalence of cancer is set to fuel the expansion of the closed-system transfer devices market. Cancer, the unbridled multiplication of abnormal cells that potentially invade adjacent tissues and metastasize to different parts of the body, is rising due to various reasons, inclusive of lifestyle choices, environmental exposures, and higher infection rates. Closed-system transfer devices play a vital role in tackling cancer, ensuring safety among healthcare professionals and patients while handling and administering chemotherapy medications. This results in a secure healthcare setting and improved treatment outcomes for those suffering from cancer. For example, the World Health Organization (WHO), a Switzerland-based intergovernmental organization, declared in February 2024 that projected cancer cases would surge by 77% to over 35 million by 2050, from an anticipated 20 million cases in 2022. This underscores the growing global impact of cancer. Moreover, according to the US-based National Center for Biotechnology Information in January 2023, projections were made for 1,958,310 new cancer cases and 609,820 cancer deaths to occur in the US alone in 2023. The rising rate of cancer occurrences is therefore spurring the growth of the closed-system transfer devices market.
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#What is the Projected CAGR for the Closed System Transfer Devices Market Size from 2025 to 2034?
The market size of closed system transfer devices has seen speedy advancement in the last few years. Its growth is expected to climb from $1.04 billion in 2024 to $1.19 billion in 2025, showcasing a compound annual growth rate (CAGR) of 14.5%. The historic period’s growth can be credited to factors such as the spike in oncological drug approvals, heightened focus on workplace safety and the escalating need to mitigate needlestick injuries and hazardous drug exposure. The increased cognizance about the possible risks of exposure to cytotoxic drugs and the rise in the chemotherapy patient community further fuel this growth.
The market size for closed system transfer devices is predicted to experience swift expansion in the upcoming years, reaching a size of $2.03 billion in 2029 with a compound annual growth rate (CAGR) of 14.3%. Factors contributing to this projected growth during the forecast period include an increase in cancer rates, heightened necessity for compliant monitoring to safely handle harmful drugs, growing recognition of the benefits of closed system transfer devices, increased use of CSTDS for the transportation of hazardous medications, and a rising number of approved drugs for cancer treatment. Key trends anticipated during the forecast period encompass fresh product introductions and safety measures, the creation of digital platforms and user-friendly devices, heightened activity in research and development, technological progress, and the adoption of membrane-to-membrane systems.
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What Are the Key Market Innovations in theClosed System Transfer Devices Market Over the Coming Years?
Key players within the closed system transfer devices (CSTD) market, like Equashield, are making strides in the innovation of syringe units, aiming to enhance safety protocols, maximize user comfort, attenuate contamination risks, and meet tough healthcare industry regulations. The concept of a syringe unit for full volume use refers to a uniquely designed syringe that can deliver or dispense an entire volume of a contained liquid or medication without any additional need to mix or dilute it. To illustrate this, in October 2023, Equashield, a household name in the American medical device market, rolled out its EQUASHIELD Syringe Unit. Receiving FDA approval for full-volume usage, this new design facilitates safer and more effective management of hazardous drugs. This innovative syringe prevents vapour from leaking and avoids plunger contamination, making it a financially smart solution for compounding and dispensing medications.
Who Are the Top Companies Driving Innovation and Growth in theClosed System Transfer Devices Market?
Major companies operating in the closed system transfer devices market are Cardinal Health Inc., Becton Dickinson and Company, Baxter International Inc., Corning Incorporated, B Braun Melsungen AG, Grifols SA, Terumo Corporation, ICU Medical Inc., Amsino International Inc., JMS Co. Ltd., Vygon SA, Codan Medical GmbH, Equashield LLC, Hospira Inc., Nipro Corporation, Simplivia Healthcare Ltd., Practivet Inc., Corvida Medical Inc., Yukon Medical, Caragen Ltd., Insung Medical Co. Ltd., Carmel Pharma AB, Aegis Medical Technologies, Epic Medical Pte Ltd., Smiths Medical
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Which Key Market Segments Comprise the Closed System Transfer Devices Market and Drive Its Revenue Growth?
The closed system transfer devices market covered in this report is segmented –
1) By Type: Needleless Systems, Membrane-To-Membrane Systems
2) By Technology: Diaphragm-Based, Compartmentalized, Filtration
3) By Closing Mechanism: Color-To-Color Alignment Systems, Push-To-Turn Systems, Click-To-Lock Systems, Luer-Lock Systems
4) By End User: Hospitals And Clinics, Oncology Centers, Other End Users
Subsegments:
1) By Needleless Systems: Closed Vial Systems, Closed Syringe Systems, Transfer Device Adapters
2) By Membrane-To-Membrane Systems: Membrane-To-Membrane Transfer Devices, Filtered Membrane Transfer Devices
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Which Regions Are Emerging as Leaders in the Closed System Transfer Devices Market?
North America was the largest region in the closed system transfer device market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the closed system transfer devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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