Closed System Transfer Devices Market Size, Growth, Trends, Revenue and Forecast 2021-2030

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The global closed system transfer devices market was valued at US$ 765 Mn in 2020 and is expected to hit US$ 2.3 Bn by 2030 with a CAGR of 11.2% from 2021 to 2030. Closed system transfer devices (CSTDs) are used to transfer medication from one reservoir to another, while limiting the potential for drug aerosolization, drug contamination, sharps exposure, and hazardous drug exposure. The closed drug reconstitution and transfer system components allow safe reconstitution of liquid or pre?dissolved powder drugs into infusion bags, flexible bottles, or syringes. Single, partial, or multiple vials can be used for each infusion solution container. Components of CSTD system are vial adaptors, syringe adaptors, spike port adaptor, connecting set, Luer lock adaptor, and tubing sets & accessories. These products have shorter lifespan and are primarily single-use products.

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The closed system transfer devices market growth can be primarily attributed to factors such as increase in the usage of oncology drugs to treat cancer, advent of new protocols, change in performance standards, research and development activities, and high demand for optimum cancer care. Players operating in the current market landscape should focus on addressing issues related to the supply chain mainly due to by the COVID-19 pandemic. Moreover, market players should also leverage collaboration opportunities and focus on expanding their product portfolio to improve their position in the market.

Overview

  • Closed system transfer devices (CSTDs) are used to transfer medication from one reservoir to another, while limiting the potential for drug aerosolization, drug contamination, sharps exposure, and hazardous drug exposure
  • Several regions have emerged as hubs of cancer research, drug development, and medical testing. This has fueled the growth of the closed system transfer devices (CSTD) market in the U.S. and Europe over the past few years.

Drivers

  • Treatment of cancer patients requires compassion, and it should not take a toll on patients. Drugs such as doxorubicin used in chemotherapy is the backbone of medical oncology.
  • These drugs contain antineoplastic agents, which are extremely toxic to clinicians who handle them. Prolonged exposure could lead to hair loss, birth defects, infertility, and even cancer. Hence, safe handling of these drugs is required to ensure safety.
  • The Lancet Oncology Journal has projected that the number of patients needing chemotherapy each year will rise from 9.8 million in 2018 to 15 million to 2040 globally
  • Efforts taken by the World Health Organization (WHO) in promoting cancer research and drug development have contributed to the growth of the closed system transfer devices market

Establishing CSTD Performance Standards and Protocols to Remain Key Area of Focus

Over the past few years, closed system transfer device designs and models have evolved at a rapid pace due to which, a number of independent testing procedures to assess the closed system transfer device performance has gained popularity. At present, players involved in the current closed system transfer devices (CSTD) market are increasingly focusing on complying with the closed system transfer device performance standards that primarily focus on patient protection and sterile practices. Furthermore, a number of researchers involved in the current closed system transfer device market landscape are increasingly focusing on the development of test protocols that evaluate closed system transfer devices containment of hazardous drugs.

Researchers and pharmacists from around the world are working in tandem with each other to curate a well-defined closed system transfer device standard and protocol. A new protocol proposed by the scientists at NIOSH are likely to be used by consumers to make comparison of different closed system transfer device products and manufacturers to assess the prototype closed system transfer devices. In addition, the ability of the various closed system transfer devices to restrict the contamination of parental drug products offers tremendous potential to enable extended beyond use dating (BUD), which, in turn, is anticipated to minimize wastage and reduce expenditure in the long run. This factor is likely to contribute to the growth of the global closed system transfer devices (CSTD) market during the assessment period.

Market Players Eye Product Launch to Gain Advantage

Research and development activities are set to play a key role in the overall development of the global closed system transfer devices (CSTD) market during the assessment period. A number of market players are increasingly focusing on expanding their product portfolio to strengthen their foothold in the current closed system transfer devices (CSTD) market. For instance, in January 2018, Baxter announced that the company has reached a distribution agreement for the U.S. launch of Arisure closed system transfer device that is expected to assist in the prevention of contaminants from entering the intravenous medication delivery systems. Similarly, in April 2019, Equashild LLC announced the launch of the EQUASHIELD PRO robot, which was the first automated transfer robot.

Market Dynamics

In terms of product, the global closed system transfer devices (CSTD) market has been divided into systems (needle free systems and needle systems), component (vial adaptors and syringe adaptors), tubing sets and accessories. New closed system transfer devices are easy to operate and integrate into practice, are designed to reduce waste, help make implementations easier, and reduce confusion. These factors are expected to drive the segment.

Based on application, the global closed system transfer devices (CSTD) market has been categorized into pharmacy, nursing, and veterinary. Increase in awareness to avoid occupational exposure to drugs and availability of new closed system transfer devices in hospital pharmacies are likely to drive the pharmacy segment during the forecast period.

Pharmaceuticals and biotechnology are large components of the healthcare system. Prices of drugs continue to rise every year, especially intravenous antineoplastic agents, cytotoxic antibiotics, alkylating drugs, and monoclonal antibodies. In 2017, the global sales of oncology-related medications stood at around US$ 133 Bn, with nearly US$ 50 Bn sales in the U.S. Devices such as closed system transfer devices increase the lifeline of drugs by preserving the sterility of single use medication vials for up to at least 1 week by preventing contamination. According to the U.S. Pharmacopeia Chapter 797 (USP 797), single-use vials should be used within six hours of opening, if maintained in an International Organization for Standardization (ISO) 5 environment.

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North America to Dominate Global Market

The global closed system transfer devices (CSTD) market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for major share of the global closed system transfer devices (CSTD) market in 2020. Exposure to hazardous drugs can result in adverse health effects in healthcare workers. Hence, increase in exposure of healthcare workers to hazardous drugs at the workplace is likely fuel the growth of the market in North America. According to the Centers for Diseases Control and Prevention, nearly 8 million healthcare workers in North America are potentially exposed to hazardous drugs.

China is likely to be a highly lucrative market for closed system transfer devices (CSTD) during the forecast period. Rise in the target population requiring treatment in developed regions and higher utilization of CSTDs are expected to drive the global closed system transfer devices (CSTD) market during the forecast period.

Competition Landscape

ICU Medical, Inc., Baxter International, Inc., B. Braun Melsungen AG, and Equashield LLC are the three major companies operating in the global closed system transfer devices (CSTD) market. The global closed system transfer devices (CSTD) market is fragmented in terms of number of players. Key players in the global market include ICU Medical, Inc., Baxter International, Inc., B. Braun Melsungen AG, Becton, Dickinson and Company, Equashield LLC, Corvida Medical, Yukon Medical, Caragen Ltd., and JMS Co. Ltd.

Market Segmentation

By Product

    • Systems
      • Needle Free Systems
      • Needle Systems
    • Component
      • Vial Adaptors
      • Syringe Adaptors
      • Tubing Sets and Accessories

By Application

    • Pharmacy
    • Nursing
    • Veterinary

By Distribution Channel

    • Direct Sales
    • Distributors

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Scope of the Report

VRR's report on the global closed system transfer devices (CSTD) market studies the past as well as the current growth trends and opportunities to gain valuable insights of these indicators for the market during the forecast period from 2020 to 2030. The report provides the revenue of the global closed system transfer devices (CSTD) market for the period 2018-2030, considering 2021 as the base year and 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR %) of the global closed system transfer devices (CSTD) market from 2020 to 2030.

The report has been prepared after extensive research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with key opinion leaders, industry leaders, and opinion makers. Secondary research involved referring to key players' product literature, annual reports, press releases, and relevant documents to understand the global closed system transfer devices (CSTD) market.

Secondary research also included Internet sources, statistical data from government agencies, websites, and trade associations. Analysts have employed a combination of top-down and bottom-up approaches to study various attributes of the global closed system transfer devices (CSTD) market.

The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments and sub-segments included in the scope of the study. Moreover, the report sheds light on changing competitive dynamics in the global closed system transfer devices (CSTD) market. These serve as valuable tools for existing market players as well as entities interested in participating in the global closed system transfer devices (CSTD) market.

The report delves into the competition landscape of the global closed system transfer devices (CSTD) market. Key players operating in the global closed system transfer devices (CSTD) market have been identified and each one of these has been profiled in terms of various attributes. Company overview, financial standings, recent developments, and SWOT are attributes of players in the global closed system transfer devices (CSTD) market that have been profiled in this report.

Key Questions Answered in Closed System Transfer Devices (CSTD) Report

  1. What is the sales/revenue generated by closed system transfer device (CSTD) providers across all regions during the forecast period?
  2. What are the opportunities in the global closed system transfer devices (CSTD) market?
  3. What are the major drivers, restraints, opportunities, and threats in the global market?
  4. Which region is set to expand at the fastest CAGR during the forecast period?
  5. Which product segment is expected to generate the highest revenue globally in 2030? Which segment is projected to expand at the highest CAGR during the forecast period?
  6. What are the market positions of different companies operating in the global market?

Research Objectives and Research Approach

The comprehensive report on the global closed system transfer devices (CSTD) market begins with an overview, followed by the scope and objectives of the study. Following this, the report provides detailed explanation of the objectives behind this study and key vendors and distributors operating in the market and regulatory scenario for approval of products.

For reading comprehensibility, the report has been compiled in a chapter-wise layout, with each section divided into smaller ones. The report comprises an exhaustive collection of graphs and tables that have been appropriately interspersed. Pictorial representation of actual and projected values of key segments is visually appealing to readers. This also allows comparison of market shares of key segments in the past and at the end of the forecast period.

The report analyzes the global closed system transfer devices (CSTD) market in terms of product, application, distribution channel, and region. Key segments under each criteria have been studied at length, and the market share for each of these at the end of 2030 has been provided. Such valuable insights enable market stakeholders to make informed business decisions for investment in the global closed system transfer devices (CSTD) market.

Table of Content

  1. Preface

1.1. Market Definition and Scope

1.2. Market Segmentation

1.3. Key Research Objectives

1.4. Research Highlights

  1. Assumptions and Research Methodology
  2. Executive Summary: Global Closed System Transfer Devices (CSTD) Market

3.1. Market Overview

3.2. Introduction

3.3. Overview

3.4. Market Dynamics

3.4.1. Drivers

3.4.2. Restraints

3.4.3. Opportunities

  1. Global Closed System Transfer Devices (CSTD) Market Analysis and Forecast, 2018-2030

4.1. Key Insights

4.2. Pricing Analysis

4.3. Key Brands in Market

4.4. Key Industry Events

4.5. COVID-19 Pandemic Impact on Industry

  1. Global Closed System Transfer Devices (CSTD) Market Analysis and Forecast, by Product

5.1. Introduction & Definition

5.2. Key Findings / Developments

5.3. Market Value Forecast, by Product, 2018-2030

5.3.1. Systems

5.3.1.1. Needle Free Systems

5.3.1.2. Needle Systems

5.3.2. Component

5.3.2.1. Vial Adaptors

5.3.2.2. Syringe Adaptors

5.3.2.3. Tubing Sets and Accessories

5.4. Market Attractiveness Analysis, by Product

  1. Global Closed System Transfer Devices (CSTD) Market Analysis and Forecast, by Application

6.1. Introduction & Definition

6.2. Key Findings / Developments

6.3. Market Value Forecast, by Application, 2018-2030

6.3.1. Pharmacy

6.3.2. Nursing

6.3.3. Veterinary

6.4. Market Attractiveness Analysis, by Application

  1. Global Closed System Transfer Devices (CSTD) Market Analysis and Forecasts, by Distribution Channel

7.1. Introduction & Definition

7.2. Key Findings / Developments

7.3. Market Value Forecast, by Distribution Channel, 2018-2030

7.3.1. Direct Sales

7.3.2. Distributors

7.4. Market Attractiveness Analysis, by Distribution Channel

  1. Global Closed System Transfer Devices (CSTD) Market Analysis and Forecast, by Region

8.1. Key Findings

8.2. Market Value Forecast, by Region

8.2.1. North America

8.2.2. Europe

8.2.3. Asia Pacific

8.2.4. Latin America

8.2.5. Middle East & Africa

8.3. Market Attractiveness Analysis, by Country/Region

  1. North America Closed System Transfer Devices (CSTD) Market Analysis and Forecast

9.1. Introduction

9.2. Market Value Forecast, by Product, 2018-2030

9.2.1. Systems

9.2.1.1. Needle Free Systems

9.2.1.2. Needle Systems

9.2.2. Component

9.2.2.1. Vial Adaptors

9.2.2.2. Syringe Adaptors

9.2.2.3. Tubing Sets and Accessories

9.3. Market Value Forecast, by Application, 2018-2030

9.3.1. Pharmacy

9.3.2. Nursing

9.3.3. Veterinary

9.4. Market Value Forecast, by Distribution Channel, 2018-2030

9.4.1. Direct Sales

9.4.2. Distributors

9.5. Market Value Forecast, by Country, 2018-2030

9.5.1. U.S.

9.5.2. Canada

9.6. Market Attractiveness Analysis

9.6.1. By Product

9.6.2. By Application

9.6.3. By Distribution Channel

9.6.4. By Country

  1. Europe Closed System Transfer Devices (CSTD) Market Analysis and Forecast

10.1. Introduction

10.2. Market Value Forecast, by Product, 2018-2030

10.2.1. Systems

10.2.1.1. Needle Free Systems

10.2.1.2. Needle Systems

10.2.2. Component

10.2.2.1. Vial Adaptors

10.2.2.2. Syringe Adaptors

10.2.2.3. Tubing Sets and Accessories

10.3. Market Value Forecast, by Application, 2018-2030

10.3.1. Pharmacy

10.3.2. Nursing

10.3.3. Veterinary

10.4. Market Value Forecast, by Distribution Channel, 2018-2030

10.4.1. Direct Sales

10.4.2. Distributors

10.5. Market Value Forecast, by Country/Sub-region, 2018-2030

10.5.1. Germany

10.5.2. U.K.

10.5.3. France

10.5.4. Spain

10.5.5. Italy

10.5.6. Rest of Europe

10.6. Market Attractiveness Analysis

10.6.1. By Product

10.6.2. By Application

10.6.3. By Distribution Channel

10.6.4. By Country/Sub-region

  1. Asia Pacific Closed System Transfer Devices (CSTD) Market Analysis and Forecast

11.1. Introduction

11.2. Market Value Forecast, by Product, 2018-2030

11.2.1. Systems

11.2.1.1. Needle Free Systems

11.2.1.2. Needle Systems

11.2.2. Component

11.2.2.1. Vial Adaptors

11.2.2.2. Syringe Adaptors

11.2.2.3. Tubing Sets and Accessories

11.3. Market Value Forecast, by Application, 2018-2030

11.3.1. Pharmacy

11.3.2. Nursing

11.3.3. Veterinary

11.4. Market Value Forecast, by Distribution Channel, 2018-2030

11.4.1. Direct Sales

11.4.2. Distributors

11.5. Market Value Forecast, by Country/Sub-region, 2018-2030

11.5.1. China

11.5.2. Japan

11.5.3. India

11.5.4. Australia & New Zealand

11.5.5. Rest of Asia Pacific

11.6. Market Attractiveness Analysis

11.6.1. By Product

11.6.2. By Application

11.6.3. By Distribution Channel

11.6.4. By Country/Sub-region

  1. Latin America Closed System Transfer Devices (CSTD) Market Analysis and Forecast

12.1. Introduction

12.2. Market Value Forecast, by Product, 2018-2030

12.2.1. Systems

12.2.1.1. Needle Free Systems

12.2.1.2. Needle Systems

12.2.2. Component

12.2.2.1. Vial Adaptors

12.2.2.2. Syringe Adaptors

12.2.2.3. Tubing Sets and Accessories

12.3. Market Value Forecast, by Application, 2018-2030

12.3.1. Pharmacy

12.3.2. Nursing

12.3.3. Veterinary

12.4. Market Value Forecast, by Distribution Channel, 2018-2030

12.4.1. Direct Sales

12.4.2. Distributors

12.5. Market Value Forecast, by Country/Sub-region, 2018-2030

12.5.1. Brazil

12.5.2. Mexico

12.5.3. Rest of Latin America

12.6. Market Attractiveness Analysis

12.6.1. By Product

12.6.2. By Application

12.6.3. By Distribution Channel

12.6.4. By Country/Sub-region

  1. Middle East & Africa Closed System Transfer Devices (CSTD) Market Analysis and Forecast

13.1. Introduction

13.2. Market Value Forecast, by Product, 2018-2030

13.2.1. Systems

13.2.1.1. Needle Free Systems

13.2.1.2. Needle Systems

13.2.2. Component

13.2.2.1. Vial Adaptors

13.2.2.2. Syringe Adaptors

13.2.2.3. Tubing Sets and Accessories

13.3. Market Value Forecast, by Application, 2018-2030

13.3.1. Pharmacy

13.3.2. Nursing

13.3.3. Veterinary

13.4. Market Value Forecast, by Distribution Channel, 2018-2030

13.4.1. Direct Sales

13.4.2. Distributors

13.5. Market Value Forecast, by Country/Sub-region, 2018-2030

13.5.1. GCC Countries

13.5.2. South Africa

13.5.3. Rest of Middle East & Africa

13.6. Market Attractiveness Analysis

13.6.1. By Product

13.6.2. By Application

13.6.3. By Distribution Channel

13.6.4. By Country/Sub-region

  1. Competition Landscape

14.1. Market Player - Competition Matrix (by tier and size of companies)

14.2. Market Share Analysis, by Company, 2019

14.3. Company Profiles

14.3.1. ICU Medical, Inc.

14.3.1.1. Company Overview (HQ, Business Segments, Employee Strength)

14.3.1.2. Growth Strategies

14.3.1.3. SWOT Analysis

14.3.2. Baxter International, Inc.

14.3.2.1. Company Overview (HQ, Business Segments, Employee Strength)

14.3.2.2. Growth Strategies

14.3.2.3. SWOT Analysis

14.3.3. B. Braun Melsungen AG

14.3.3.1. Company Overview (HQ, Business Segments, Employee Strength)

14.3.3.2. Growth Strategies

14.3.3.3. SWOT Analysis

14.3.4. Becton, Dickinson and Company

14.3.4.1. Company Overview (HQ, Business Segments, Employee Strength)

14.3.4.2. Growth Strategies

14.3.4.3. SWOT Analysis

14.3.5. Equashield LLC

14.3.5.1. Company Overview (HQ, Business Segments, Employee Strength)

14.3.5.2. Growth Strategies

14.3.5.3. SWOT Analysis

14.3.6. Corvida Medical

14.3.6.1. Company Overview (HQ, Business Segments, Employee Strength)

14.3.6.2. Growth Strategies

14.3.6.3. SWOT Analysis

14.3.7. Yukon Medical

14.3.7.1. Company Overview (HQ, Business Segments, Employee Strength)

14.3.7.2. Growth Strategies

14.3.7.3. SWOT Analysis

14.3.8. Caragen Ltd.

14.3.8.1. Company Overview (HQ, Business Segments, Employee Strength)

14.3.8.2. Growth Strategies

14.3.8.3. SWOT Analysis

14.3.9. JMS Co. Ltd.

14.3.9.1. Company Overview (HQ, Business Segments, Employee Strength)

14.3.9.2. Growth Strategies

14.3.9.3. SWOT Analysis

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