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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 28, 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.

There has been numerous research and development activities are underway to enhance Closed System Transfer Devices products and new innovative technologies. The report deals with numerous research objectives, investments plans, business strategies, import-export scenario, and supply-demand scenario. To help in strategic planning, key stakeholders can use the tables and figures from this report to gather statistics. It provides insights into key production, revenue and consumption trends for players in order to increase sales and growth within the global Closed System Transfer Devices Market.

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Closed System Transfer Devices Market Report 2023 is one of a series of new reports from The Emergen Research Company that provides plant factory industry overview, Closed System Transfer Devices market analysis and forecasts market size and growth for the global plant factory market, Closed System Transfer Devices market segments and geographies, Closed System Transfer Devices market players, Closed System Transfer Devices market leading competitor revenues, profiles and market shares. The plant factory market research report identifies top countries and segments for opportunities and strategies based on market trends and key competitors’ approaches.

 Closed System Transfer Devices Market: Analysis by focusing on Competitive landscape and Key Developments

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.

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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

 The study segments the Closed System Transfer Devices industry in light of major classification such as product type, potential markets, application, and end-user. This industry assessment for the forecast period, 2022 – 2032 incorporates projections pertaining to the investment feasibility, gross margin, profits, consumption volume, production capability and major market vendors. Likewise, statistics associated with the competitive landscape, shifting consumer behaviour and spending power is showcased and well-explained with the help of treasured resources such as charts, graphs and graphic images, which can be easily incorporated in the business or corporate presentations.

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Key point summary of the report:

The report offers a comprehensive overview of the market size, share, and growth rate in the forecast duration.

It provides details about current scenario, historical data, giving an accurate market forecast for the coming years.

The study categorizes the market on the basis of product types, applications, end users, market value and volume, business verticals, and 5 major regions.

It also offers regional market analysis and forecast for prominent geographies in the sector viz., North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Industry supply chain, sourcing strategy, upstream feedstock, and downstream demand analysis has also been undertaken in the research report.

The study offers a comprehensive understanding of the demand and supply dynamics, including production and consumption rates, and mapping of the overall market.

The report employs different analytical tools including, SWOT analysis, Porter’s five forces analysis, and pricing analysis, to give precise market information.  

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