Global Closed System Transfer Devices Market to reach USD 2461.36 million by 2027. Global Closed System Transfer Devices Market is valued approximately at USD 686.92 Million in 2020 and is anticipated to grow with a healthy growth rate of more than 20.0% over the forecast period 2021-2027. A closed system transfer device is a kind of drug transfer device which mechanically prohibits transfer of contaminants present in environment into the system and also prevent the leakage of hazardous drug or the vapor concentrations outside the system. The global Closed System Transfer Devices market is being driven by increasing incidence of cancer and increasing number of oncology drug approvals. Furthermore, the increasing application of CSTDs in other therapeutic areas and increasing adoption in emerging economies due to rising healthcare expenditure, will provide new opportunities for the global Closed System Transfer Devices industry. For instance, according to the report of national cancer institute, in 2018, there were around 18.1 million new cases for cancer and 9.5 million cancer-related deaths across the world. Also, it is estimated that by year 2040, the number of new cancer cases is expected to reach 29.5 million per year and the number of cancer-related deaths is expected to reach 16.4 million by year 2040. As a result, increased incidences of cancer will serve as a catalyst for the Closed System Transfer Devices industry in the future. However, unstable raw material prices and rigorous regulations regarding quality standards may impede market growth over the forecast period of 2021-2027.

Asia Pacific, North America, Europe, Latin America, and Rest of the World are the key region considered for the regional analysis of global closed system transfer devices market. The presence of many market players, and the rising prevalence of cancer makes North America the leading region across the world. Whereas Asia pacific is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027, due to the growth in incidences of cancer and rising demand for better healthcare services in the region.
Major market player included in this report are:

Becton, Dickinson and company
ICU Medical
Equashield
Braun Melsungen
JMS
Baxter International
Simplivia Healthcare
Corvida Medical
Yukon Medical
Codan Medizinische Ger??te


The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product Type:
Membrane-to-membrane systems
Needleless systems
By Closing Mechanism:
Luer-lock systems
Push-to-turn systems
Click-to-lock systems
Color-to-color alignment systems
By Component:
Vial access devices
Syringe safety devices
Bag/line access devices
Accessories


By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027.

Target Audience of the Global Closed System Transfer Devices Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors