Analyzing the Future of Closed System Transfer Devices Market Dynamics 2025-2034: Growth Rate, Trends, and Major Opportunities
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What key factors are powering the surge in the closed system transfer devices market right now?
The closed system transfer devices market has experienced rapid growth in recent years. It will grow from $1.04 billion in 2024 to $1.19 billion in 2025, at a compound annual growth rate (CAGR) of 14.5%. This growth is due to the rising number of oncology drug approvals, increased focus on occupational safety, the need to reduce needlestick injuries and exposure to hazardous drugs, greater awareness of the dangers of cytotoxic drug exposure, and a growing chemotherapy patient population.
How fast Is the closed system transfer devices market expected to grow, and what’s its future value?
The closed system transfer devices market is projected to reach $2.03 billion by 2029 at a 14.3% CAGR. Growth is driven by the increasing occurrence of cancer, need for safe management of drugs, and the rise in drug sanctions for cancer. Trends include product launches, safety features, and membrane-to-membrane systems.
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What are the leading drivers of growth in the closed system transfer devices market?
The increasing occurrence of cancer is projected to boost the growth of the closed-system transfer devices market. Cancer, a condition marked by abnormal cell growth, is rising due to lifestyle, environmental factors, and infections. Closed-system transfer devices are essential for safely handling and administering chemotherapy drugs, protecting both healthcare workers and patients. In February 2024, the World Health Organization forecasted that global cancer cases would exceed 35 million by 2050, a 77% increase from 2022. This surge in cancer cases is expected to drive the demand for closed-system transfer devices.
What are the key segments defining the closed system transfer devices market?
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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Who are the key players steering the development of the closed 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
What emerging trends are influencing the growth of the closed system transfer devices market?
Leading companies in the closed system transfer devices (CSTD) market are focusing on creating advanced syringe units to improve safety, enhance user experience, reduce contamination risks, and comply with strict healthcare regulations. A syringe unit for full volume use is designed to deliver the entire amount of medication or liquid without requiring mixing or dilution. For example, in October 2023, Equashield, a US-based medical device company, introduced the EQUASHIELD Syringe Unit, which received FDA approval for full-volume use. This design ensures safer handling of hazardous drugs, preventing vapor escape and plunger contamination, making it an affordable solution for compounding and administering medications.
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Which regions are most influential in expanding 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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