Frequently asked questions
In 2022, the global Closed System Transfer Devices Market is expected to be worth USD 1124.8 million.
The Closed System Transfer Devices Market is estimated to increase at a CAGR of 20.30% between 2023 and 2030, reaching USD 4934.0 Million in 2030.
Hospitals held the largest share of the CSTDs market, accounting for 83.71%
Oncology Centres are another sector in high demand in the business.
The ‘Vial Access Devices’ sector accounted for around 32.53% of the market
North America had the highest revenue share in the Closed System Transfer Devices Market in 2022, accounting for 40%.
The top players include B. Braun Holding Gmbh & Co. Kg, Equashield Llc., Fimi Opportunity Funds (Simplivia Healthcare Ltd.)
The market is being driven by an increased emphasis on occupational safety and infection control measures, stringent regulations and guidelines for the safe handling of hazardous substances, and technological advancements and innovations in closed system transfer devices that improve their effectiveness and safety.
The high cost of closed system transfer devices limits their use in several healthcare settings.
The market’s possibilities include expansion in emerging markets, collaboration and collaborations between manufacturers and healthcare institutions, and rising demand for safe pharmaceutical handling and administration.