The total revenue generated by the closed system transfer devices market was USD 1,134 million in 2022, and it will grow at a CAGR of 15.20% in the years to come, to touch USD 3,516 million by 2030, as per a market research institution P&S Intelligence.

Healthcare experts have initiated the use of CSTDs in areas except cancer drugs. CSTDs are put to use for the reconstruction of risky drugs into infusion bags, though conserving the sterility of the products and stopping the outflow of aerosols and liquids into the environment. Now, they are used in hormone agents, antiviral drugs, and bioengineered drugs.

The membrane-to-membrane category had a larger share of revenue, of 63%, in 2022, and it will continue like this in the years to come as well. This is because the ease of use of these membranes and the less possibility of adulteration in these double-membrane devices.

Likewise, the volume loss in this category is tremendously less as opposed to needleless. Some products that are offered by companies are the PhaSeal, OnGuard Tevadaptor device, Halo, Equashield I and II, and the SureConnect products.

Hospitals & clinics were the major users. This is because of the huge population of cancer patients, cured and handled by numerous hospitals and clinics.

Owing to high volume of cancer cases and healthcare facilities, the healthcare workers count working directly with hazardous drugs is extremely high.

Furthermore, the high acquiring power of hospitals makes them the biggest users. Also, hospitals and clinics have to obey all regulations being given by regulatory bodies. Therefore, these factors power the requirement for CSTDs.

The vial access category dominated the closed system transfer devices market in 2022. This is because of the growing use of these devices for the transfer of unsafe drugs for instance antineoplastic drugs from vials into the infusion compartment of the patient.

North America dominated the industry because of the growing awareness of healthcare workforces toward harmful drugs and their effects, and major players manufacturing these devices. The U.S. leads the regional market, because of the increasing cases of cancer.

Alternatively, APAC market will grow the fastest in the years to come. This is because of the growing cases of cancer. Cancer is the second prime reason for death after CVDs in APAC.

Also, it has 50% of the global new cancer cases yearly. Furthermore, as a result of the growing healthcare investments and requirement for better services, key players are laying emphasis for snowballing the CSTD sales.

Because of the growing number of cancer cases all over the world, the demand for CSTDs will continue to rise in the years to come.

Read more: https://www.psmarketresearch.com/market-analysis/closed-system-transfer-device-market