Hazardous Drugs Closed System Transfer Device Market is projected to grow from USD 398.5 million in 2020 to USD 1,220.4 million by 2026 at a CAGR of over 20.6% during the forecast period.
The closed system drug transfer device provides protection against hazardous drugs or vapors during drug preparation and administration. It comprises components which enable filtering of dangerous vapors out of the system. Closed system drug transfer devices play a major role in protection of healthcare professionals from antineoplastic as well as other harmful medications.
According to The Insight Partners market research study of “Closed System Drug Transfer Devices Market to 2027 – Global Analysis and Forecast by Closing Mechanism, Type, Technology, Component, and End User,” the global closed system drug transfer devices market is expected to reach US$ 1,661.83 million in 2027 from US$ 374.48 million in 2019. The market is estimated to grow at a CAGR of 20.5% from 2020 to 2027. The report highlights trends prevailing in the global closed system drug transfer devices market and the factors driving market along with those that act as hindrances.
The closed system transfer devices (CSTDs) market is projected to reach USD 2,002 million by 2026 from USD 814 million in 2021, at a CAGR of 19.7% during the forecast period. Market growth is largely driven by the harmful effects (lingering role) of cytotoxic drugs, rising incidence of cancer, an increasing number of oncology drug approvals, and improving regulatory guidelines regarding the safe handling of hazardous drugs. However, the high cost of implementation of CSTDs, along with a lack of reimbursement for CSTDs and compliance to regulatory guidelines in developing countries, hampers the adoption of these products in hospitals and oncology centers to a certain extent.
Presented by Carolyn Albertson Gunter Frey Member, SG3 NEMA Medical device manufacturers are generally required to have a quality management system as well as ...
Medical Device Safety The importance of reporting adverse incidents What is an adverse incident? A device-related adverse incident is an event which can produce, or ...
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