The global closed system drug transfer device market size is expected to reach USD 1.91 billion by 2028 according to a new study by Polaris Market Research. The report “Closed System Drug Transfer Device Market Share, Size, Trends, Industry Analysis Report, By Type (Filtration, Barrier); By Component (Line Access, Syringe Safety, Vial Access, Others); By Closing Mechanism; By Technology; By End-Use; By Regions; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The demand for closed system drug transfer devices is expected to increase during the forecast period owing to the increasing use of these machines for the treatment of diseases such as cancer, stringent regulations regarding safe handling of drugs, and technological advancements for the delivery of effective healthcare services drives the market growth. Governments across the globe are investing significantly in the development of advanced healthcare infrastructure, boosting market growth of closed system drug transfer devices system.
On the basis of type, the market is segmented into filtration, and barrier machines. Filtration segment are equipped with technology to clean the air passing between the environment and the hazardous drug vial. The vial access devices segment dominated the global market in 2020. These machines enable safe drug transfer from vial to syringe.
The increasing occurrence of cancer, advanced healthcare services, and growing investments in the development of advanced healthcare equipment by governments and private organizations are some factors expected to fuel the demand during the forecast period.
On the basis of closing mechanism, the market is segmented into click-to-lock, Luer-lock, push-to-turn, color-to-color, and others. Click-to-Lock closed system drug transfer devices are used to prevent prolonged exposure to hazardous drug vapors. The increasing need for safe handling of hazardous drugs, ease of use, and protection from external contamination are some factors driving the growth of this segment.
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The market is segmented into compartmentalized devices, air filtration devices, diaphragm-based devices, and others, based on technology. The diaphragm-based segment dominated the global market in 2020. The demand for compartmentalized segment is expected to increase during the forecast period owing to ease of use and lower prices. Compartmentalized machines are capable of containing, transfer, and equalizing the pressure within the system without any additional attachment to the system.
The hospital segment dominated the global market in 2020. The increasing occurrence of cancer-related diseases coupled with government initiatives supports the growth of this segment. The growing geriatric population, and rising healthcare expenditure in developing countries, such as India, China, and Japan, boost the adoption of closed system drug transfer machines in hospitals.
North America dominated the global market in 2020 and is expected to maintain its dominance over the forecast period. However, Asia-Pacific is expected to experience significant growth during the forecast period owing to increasing health awareness, and rising spending on healthcare.
Some of the major market participants include Becton Dickinson and Company, JMS Co., Ltd., Codan Medizinische Geräte GmbH & Co Kg, Teva Pharmaceutical Industries Ltd., Victus, Inc., Baxter International Inc., Equashield LLC, B. Braun Melsungen, Caragen Ltd., Yukon Medical, ICU Medical Inc., and Corvida Medical.
Polaris Market Research has segmented the closed system drug transfer device market report on the basis of type, component, closing mechanism, technology, end-use, and region:
Closed System Drug Transfer Device Type Outlook (Revenue, USD Million, 2016 – 2028)
Closed System Drug Transfer Device Component Outlook (Revenue, USD Million, 2016 – 2028)
- Line Access
- Syringe Safety
- Vial Access
Closed System Drug Transfer Device Closing Mechanism Outlook (Revenue, USD Million, 2016 – 2028)
Closed System Drug Transfer Device Technology Outlook (Revenue, USD Million, 2016 – 2028)
- Compartmentalized Devices
- Air Filtration Devices
- Diaphragm-Based Devices
Closed System Drug Transfer Device End-User Outlook (Revenue, USD Million, 2016 – 2028)
- Oncology Diagnostic Centers
Closed System Drug Transfer Device Regional Outlook (Revenue, USD Million, 2016 – 2028)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa