NEW YORK , March 8, 2023 /PRNewswire/ -- The size of the global closed-system transfer devices market will be USD 3,516 million in 2030, with the market growing at a 15.20% CAGR during 2022–2030, says P&S Intelligence.
The rising need for CSTDs to confront the damaging effects of cancer medication, including antineoplastic or cytotoxic agents; antivirals, bioengineered drugs, and hormone agents on healthcare providers is the key driver for the market. Nelaton Catheter Without X-Ray
Increasing Support for Oncology Drug R&D
Cancer medication is among the key R&D subjects for pharmaceutical businesses globally. With the advancements in the field of these drugs, more treatment choices will exist and more problems related to safety will come with the launch of every new drug.
The FDA says that 207 cancer medications were approved during 2016– 2021, 14% of which were first-line treatments that replaced treatments previously considered the standard treatment. With the growing count of medications for cancer, the need for protective solutions, such as CSTDs, is also increasing.
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Membrane-to-Membrane Type Is Highly Demanded
In 2022, membrane-to-membrane alternatives generated 63% of the market revenue, on the basis of type, and the situation will remain the same over this decade. This is because of the comfort that comes with using these devices and their lower possibility of contamination.
Additionally, the loss in volume in the membrane-to-membrane variant is less in comparison to the needleless alternative. Some such items available with the players are the PhaSeal, Halo, Equashield I and II, OnGuard Tevadaptor, and SureConnect.
Largest End Users Are Hospitals and Clinics
The hospitals & clinics category dominates the end user segment, as a result of the presence of a vast number of cancer patients, most of whom majorly visit clinics and hospitals. Therefore, the count of healthcare employees who come into direct contact with dangerous medications is quite high.
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Product Demand To Remain Highest in North America
North America was the largest market in 2022 because of the snowballing knowledge of healthcare employees regarding harmful therapeutics and their impact and the existence of key players in the continent. The U.S. generates the higher revenue in North America , credited to the rising cancer incidence in the nation.
Vial Access Components Witness Highest Sales
Among all the components, those used to access vials are sold the most. This is because these components are used extensively to transfer antineoplastics and other hazardous drugs to infusion chambers, which are further connected to the veins of patients via a needle and tube.
Closed-System Transfer Devices Market Segmentation Coverage in the Report
Closed-System Transfer Devices Market by Type
Closed-System Transfer Devices Market by Technology
Closed-System Transfer Devices Market by Closing Mechanism
Closed-System Transfer Devices Market by Component
Closed-System Transfer Devices Market by End User
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SOURCE P&S Intelligence
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