The global closed system transfer devices market was valued at USD 872 Million in 2022 and it is anticipated to grow at 18.1% CAGR during the forecast period to reach up to USD 3800 Million by 2032.

A closed system transfer device or 'CSTD' is a drug transfer device, which mechanically restricts the transfer of environmental contamination in the medical system and the escape of hazardous drug or vapor concentrations outside the system. Open versus closed systems are commonly applied in medical devices to maintain the sterility of a fluid pathway. CSTDs work by preventing- uncontrolled inflow and outflow of contaminants and drugs, preserving the quality of the solution to be infused into a patient. These devices ensure the safety of healthcare workers during the usage of hazardous drugs or chemicals.

Closed system transfer device designs and models have changed at a rapid rate in recent years, resulting in the development of a number of independent testing methodologies to assess closed system transfer device performance. Currently, manufacturers in the closed system transfer devices market are focusing more on adhering to performance requirements, which largely focus on patient safety and sterile practices.

Request Sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-9654

Market Trends and Drivers: The key factors such as rising use of CSTDs to combat the harmful effect of cytotoxic and antineoplastic drugs. Antineoplastic drugs are widely used in the treatment of cancer and are considered hazardous drugs. Healthcare workers involved in the preparation, transport, distribution, administration (pre and post-administration), and disposal of these drugs are at extremely high risk.

The National Institute for Occupational Safety and Health (NIOSH) recommends the use of CSTDs to eliminate the harmful effects caused by exposure to hazardous substances that escape out of the system during drug preparation and administration. CSTDs act as a barrier and prevents the entry of contaminants prevent the transfer of contaminants from the atmosphere to a sterile environment. Due to these advantages, CSTDs are increasingly being used in healthcare facilities to combat the harmful effects of hazardous drugs. Chemotherapy, a widely adopted cancer treatment, uses one or more antineoplastic drugs, which destroy abnormal cells in patients. The use of closed system transfer devices (CSTDs) in conjunction with other safety precautions such as gloves, gowns, masks, and vented preparation hoods is an effective way to increase safety when preparing, transporting, administering, and disposing of hazardous drugs. With the increasing incidence of cancer and increasing adoption of chemotherapy treatments, the demand for CSTDs is expected to increase in the upcoming years.

Ask an Analyst @ https://www.futuremarketinsights.com/ask-question/rep-gb-9654

COVID-19 Impact: The outbreak of COVID-19 led to a decrease in the demand for CSTDs during the first two quarters of 2020. Due to the virus containment norms and nationwide lockdowns, there were limited patient footfalls in hospitals, mostly related to COVID-19 and emergency cases. The elective medical procedures are on hold thereby causing a negative shift in the demand for CSTDs. Still, with the decline in the number of active COVID-19 cases coupled with the economic recovery in developed nations, further utilization of these devices may be expected in the near future. Major Players in Closed System Transfer Devices Market: The key players in the closed system transfer devices market are B. Braun Holding GmbH & Co. KG, Baxter International, Becton, Dickinson and Company, Caragen Ltd, Corvida Medical, Equashield, FIMI Opportunity Funds (Simplivia Healthcare), ICU Medical, JCB Co Ltd. (JMS Co Ltd.), Yukon Medical.

Request Customization @ https://www.futuremarketinsights.com/customization-available/rep-gb-9654

Have a Look at Related Research Reports of Healthcare:   

Colorectal Cancer Molecular Diagnostics Market: The global colorectal cancer molecular diagnostics market garnered a market value of US$ 2.35 Billion in 2022 and is expected to accumulate a market value of US$ 5.07 Billion by registering a CAGR of 8% in the assessment period 2022-2032.

Hemostatic Gels Market: The global hemostatic gels market was valued at US$ 957.1 Mn in 2021, and is expected to expand at a CAGR of 6.8% to reach US$ 1.9 Bn by 2032.

Disposable Medical Sensors Market: The disposable medical sensors market is expected to grow at a CAGR of 8.1% over the forecast period, from USD 6.5 billion in 2021 to USD 9.4 billion in 2026.

Vertebroplasty And Kyphoplasty Devices Market: The vertebroplasty and kyphoplasty devices market is expected to record a CAGR of 4.4% during the forecast period.

Operating Room Equipment Market: The operating room equipment market is expected to register a CAGR of 4.5% during the forecast period, up from US$ 30.9 Bn in 2020 to reach a valuation of US$ 42 Bn by 2027.

About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Future Market Insights Inc.

Christiana Corporate, 200 Continental Drive,

Suite 401, Newark, Delaware - 19713, USA

T: +1-845-579-5705

Report: https://www.futuremarketinsights.com/reports/closed-system-transfer-devices-market

For Sales Enquiries: [email protected]

Website: https://www.futuremarketinsights.com

LinkedIn| Twitter| Blogs