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Increasing employment about Closed System Drug Transfer Devices (CSTDs) for combating hazardous cytostatic drugs is a significant factor driving market

VANCOUVER, BC, CANADA, June 8, 2023/EINPresswire.com/ -- The global Closed System Transfer Devices (CSTDs) market size is expected to reach USD 5.88 Billion in 2032 and register a steady revenue CAGR of 19.7%, according to latest analysis by Emergen Research. Increasing employment of CSTDs for combating hazardous cytostatic drugs is a major factor driving market revenue growth. Various current guidelines, regulations, or recommendations, such as National Institute for Occupational Safety and Health (NIOSH) warning on preventing occupational exposures to antineoplastic as well as other hazardous drugs in healthcare settings, have strongly encouraged adoption of CSTD.

Closed system transfer devices are becoming progressively more effective, compared to conventional ones, which lowers the danger of chemotherapeutic exposure. International Society of Oncology Pharmacy Practitioners (ISOPP) claims that CSTDs are the finest, highly efficient, and preventive approach for reducing exposure to contamination during administration and preparation of cytotoxics in their guidance for proper handling of cytotoxic medications.

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The report further studies the key companies operating in the industry and their company profiles, product portfolio, expansion strategies, and strategic alliances such as mergers and acquisitions, collaborations, and joint ventures, among others. It also offers insights into their market reach and global position, along with highlights about their achievements and financial standings.

Major Players/Manufacturers profiled in the report are:

Becton and Dickinson Company (BD), ICU Medical, EQUASHIELD, B. Braun SE, Baxter, Simplivia, Corvida Medical, Yukon Medical, LLC., CODAN Companies, and Caragen Ltd.

Some Key Highlights From the Report

On 16 March 2022, Simplivia Healthcare Ltd., a significant multinational medical device business, announced that Chemfort, a brand-new closed system transfer device, will soon be available. Chemfort reduces the risk of exposure for healthcare professionals when preparing and administering hazardous drugs. Peer-reviewed articles that support Chemfort demonstrate Toxi-Guard air cleaning technology from Simplivia's efficiency as well as product's user-friendly design.

The membrane-to-membrane systems segment is expected to account for largest revenue share during the forecast period. This is attributed to these systems offering a simple and secure approach for handling hazardous pharmaceuticals and preparing them with little chance of contamination. These systems further enhance their benefits by reducing human and environmental exposure to drug vapor aerosols and spills and physically preventing environmental contaminants from entering the system.

The air cleaning/ filtration devices segment is expected to register a steadily fast revenue growth rate during the forecast period. This is owing to simple use of these devices as well as improved technology introduced by primary market participants internationally. For instance, on 2 December, 2021, B. Braun Medical Inc., a reputable manufacturer of closed system transfer devices, announced that OnGuard 2 CSTD is now available in the U.S. This device includes all of the advantages of original OnGuard in addition to upgraded components and user-friendly capabilities. OnGuard 2 is the market leader in CSTD air-cleaning technology and was tested for vapor containment with real hazardous drugs.

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Emergen Research has segmented the global closed system transfer devices market based on closing mechanism, type, component, technology, end-use, and region:

Closing Mechanism Outlook (Revenue, USD Billion; 2019–2032)

Luer-Lock Systems

Push-To-Turn Systems

Click-To-Lock Systems

Color-To-Color Alignment Systems

Type Outlook (Revenue, USD Billion; 2019–2032)

Membrane-To-Membrane Systems

Needleless Systems

Component Outlook (Revenue, USD Billion; 2019–2032)

Vial Access Devices

Syringe Safety Devices

Bag/Line Access Devices

Accessories

Technology Outlook (Revenue, USD Billion; 2019–2032)

Diaphragm-Based Devices

Compartmentalized Devices

Air Cleaning/ Filtration Devices

End-Use Outlook (Revenue, USD Billion; 2019–2032)

Hospitals & Clinics

Oncology Centers

Others

 A closer look at the aspects including but not limited to market segmentation by the end-user, end-use, geography, type, and application forms an integral part of the research report. In addition, in-depth analysis of critical factors such as spending capability, gross margin, business environment and profit for the forecast period 2023 - 2032 holds critical information and is based on curated facts and logical arguments. Importantly, validation of statistics recent acquisitions and mergers, collaborations and product launches serve as testimonials for stakeholders, field marketing personnel, product manufacturers and business evangelists on how a product will be positioned in the real world in years to come.

Major Regions Covered in the Closed System Transfer Devices Market Report:

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

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The report covers key points of the market, including the standards, regulations, and policy changes applied by the government on the industry for the coming years. The report encompasses thorough research carried out by the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to pinpoint the growth trends and patterns. Factors likely to influence the growth of the market, current trends, opportunities, restraining factors, and business landscape are discussed in-depth in the market study.

Key Reasons to Buy This Report:

The report presents a thorough examination of the Closed System Transfer Devices market, elaborating on its core segments. The report conducts historical and future assessments of the market dynamics and offers precise data in a well-organized order.

The report evaluates the most prominent market growth potentials, dynamic market trends, driving factors, restraints, investment opportunities, and threats.

The report is inclusive of an in-depth study of the industry variables, manufacturers’ value chain, sales volume, market share, competitive landscape, and effective business tactics.

The report further identifies the key regions and segments dominating the market. These regions are foreseen to register fast-paced growth over the forecast duration.

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