Market Overview:
The global closed system transfer device market is expected to grow at a CAGR of 7.5% from 2018 to 2030. The growth in the market can be attributed to the increasing incidence of hospital-acquired infections (HAIs) and rising demand for safer medical devices. In addition, the growing number of clinical trials is also contributing to the growth of this market. Closed vial access devices are expected to account for the largest share of the global closed system transfer device market in 2018. This segment is projected to grow at a CAGR of 7.8% from 2018 to 2030 due to their high adoption rates across hospitals and clinics worldwide.
Product Definition:
Closed system transfer devices are used to prevent the spread of infection between patients in a healthcare setting. They are important because they protect patients from exposure to potentially harmful pathogens.
Closed Vial Access Devices:
Closed vial access devices (CVAD) are used for the transfer of biologic samples in pharmaceutical and research settings. CVADs have a small internal volume, which helps to maintain sample integrity during transfer and processing. The device is portable, single-use, disposable & has no reagent costs associated with it. It also eliminates the risk of contamination that can be associated with open system transfer devices (OSTD).
Closed Syringe Safety Devices:
Closed syringe safety devices are used in closed system transfer device to avoid contamination and transmission of diseases from one patient to another during the administration of intravenous solutions. The basic purpose of these devices is to protect the health care professionals and patients from harmful bacteria, viruses, or other microorganisms that may be present in an open IV set up.
The major factor responsible for increasing demand for closed syringe safety devices is increase incidence rate of hospital acquired infections (HAIs).
Application Insights:
The hospital application segment led the global closed system transfer device market in 2017. The need for CSTD at hospitals has been rising due to various factors such as increase in number of patients, complexity of their medication and increasing awareness among healthcare professionals regarding safety protocols. Moreover, an increase in the incidence of cross contamination is also driving the adoption of these devices at hospitals.
Closed system transfer devices are used to reduce contamination risk during patient transfers from one environment to another especially within a hospital setting. These types of devices help avoid introduction or transmission via respiratory droplets or contact between external surfaces that may be contaminated with bacteria or viruses including influenza virus, adenovirus, rhinovirus and coronavirus which can cause disease transmission through human contact as well as by way of aerosolization during procedures such as intubation and ventilation using endotracheal tubes & masks among others (CDC 2016).
Regional Analysis:
North America dominated the global market in 2017. The presence of stringent regulatory guidelines and rising incidence of hospital-acquired infections are some factors responsible for the growth of this vertical. In addition, growing investments by key players in this region to improve product penetration is expected to drive demand over the forecast period.
Asia Pacific is anticipated to witness lucrative growth during the forecast period owing to increasing government initiatives for improving healthcare infrastructure coupled with rising awareness regarding SSTDs among patients and healthcare professionals. Moreover, economic development in countries such as India and China has led these nations being considered as potential markets for medical devices manufacturers; thus, it will have a positive impact on industry expansion over the next eight years or so.
Growth Factors:
- Increasing demand for Closed System Transfer Device due to rising number of surgeries and growing prevalence of chronic diseases.
- Technological advancements in Closed System Transfer Device products that offer better safety and efficiency.
- Rising number of private clinics and hospitals, which is expected to increase the demand for Closed System Transfer Device products.
- Growing awareness about the benefits of using Closed System Transfer Devices among healthcare professionals and patients alike is likely to boost market growth during the forecast period.
Scope Of The Report
Report Attributes
Report Details
Report Title
Closed System Transfer Device Market Research Report
By Type
Closed Vial Access Devices, Closed Syringe Safety Devices, Closed Bag/Line Access Devices
By Application
Hospital, Clinic
By Companies
BD Medical, Inc, Equashield, LLC, ICU Medical, Inc, Teva Medical Ltd, Corvida Medical, B. Braun, BD Medical, Inc
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
161
Number of Tables & Figures
113
Customization Available
Yes, the report can be customized as per your need.
Global Closed System Transfer Device Market Report Segments:
The global Closed System Transfer Device market is segmented on the basis of:
Types
Closed Vial Access Devices, Closed Syringe Safety Devices, Closed Bag/Line Access Devices
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hospital, Clinic
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- BD Medical, Inc
- Equashield, LLC
- ICU Medical, Inc
- Teva Medical Ltd
- Corvida Medical
- B. Braun
- BD Medical, Inc
Highlights of The Closed System Transfer Device Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Closed Vial Access Devices
- Closed Syringe Safety Devices
- Closed Bag/Line Access Devices
- By Application:
- Hospital
- Clinic
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Closed System Transfer Device Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A Closed System Transfer Device (CSTD) is a hardware device that allows for the secure transfer of data between two systems that are not connected to the internet. CSTD's are commonly used in regulated industries, such as healthcare and finance, where security and privacy are critical concerns.
Some of the key players operating in the closed system transfer device market are BD Medical, Inc, Equashield, LLC, ICU Medical, Inc, Teva Medical Ltd, Corvida Medical, B. Braun, BD Medical, Inc.
The closed system transfer device market is expected to grow at a compound annual growth rate of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Closed System Transfer Device Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Closed System Transfer Device Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Closed System Transfer Device Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Closed System Transfer Device Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Closed System Transfer Device Market Size & Forecast, 2020-2028 4.5.1 Closed System Transfer Device Market Size and Y-o-Y Growth 4.5.2 Closed System Transfer Device Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Closed Vial Access Devices
5.2.2 Closed Syringe Safety Devices
5.2.3 Closed Bag/Line Access Devices
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Hospital
6.2.2 Clinic
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Closed System Transfer Device Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Closed System Transfer Device Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Closed Vial Access Devices
9.6.2 Closed Syringe Safety Devices
9.6.3 Closed Bag/Line Access Devices
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Hospital
9.10.2 Clinic
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Closed Vial Access Devices
10.6.2 Closed Syringe Safety Devices
10.6.3 Closed Bag/Line Access Devices
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Hospital
10.10.2 Clinic
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Closed Vial Access Devices
11.6.2 Closed Syringe Safety Devices
11.6.3 Closed Bag/Line Access Devices
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Hospital
11.10.2 Clinic
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Closed Vial Access Devices
12.6.2 Closed Syringe Safety Devices
12.6.3 Closed Bag/Line Access Devices
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Hospital
12.10.2 Clinic
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Closed Vial Access Devices
13.6.2 Closed Syringe Safety Devices
13.6.3 Closed Bag/Line Access Devices
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Hospital
13.10.2 Clinic
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Closed System Transfer Device Market: Competitive Dashboard
14.2 Global Closed System Transfer Device Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 BD Medical, Inc
14.3.2 Equashield, LLC
14.3.3 ICU Medical, Inc
14.3.4 Teva Medical Ltd
14.3.5 Corvida Medical
14.3.6 B. Braun
14.3.7 BD Medical, Inc