Closed System Transfer Devices Market is Likely to Witness Steady Growth by 2032

The global Closed System Transfer Devices (CSTDs) Market is projected to witness a substantial growth in the coming years owing to technological advancements in healthcare service delivery. It is estimated to reach US$ 872 Million in 2022 and US$ 3800 Million by 2032, with a compound annual growth rate (CAGR) of 18.1% between 2022 and 2032, according to FMI.

The increasing prevalence of cancer is among the factors driving the growth of the closed system transfer devices market globally. As chemotherapy is the primary treatment for cancer, the use of CSTDs has surged for transferring or administering chemicals, which could pose a health risk to healthcare professionals. The risk of surface contamination during chemotherapy is also high, posing a threat not only to healthcare personnel but also to patients and their caregivers. As a result, the demand for closed system transfer devices has risen, along with the number of cancer patients undergoing chemotherapy.

North America is expected to have the largest market share in the closed system transfer devices market due to the increased awareness of CSTDs among oncologists. Numerous initiatives are being taken by regulatory bodies, such as the US Food and Drug Administration, to ensure patient safety and an increase in approvals for oncology medicines. Additionally, the region has access to advanced technologies, and healthcare professionals such as nurses and pharmacists are well-trained and knowledgeable in handling hazardous pharmaceuticals, contributing to the growth of the market in North America.

Closed System Transfer Devices Market Competition

Some of the most prominent companies in the global Closed System Transfer Devices market are ICU Medical, Inc., Equashield LLC, Becton, Simplivia Healthcare, Dickinson and Company, B. Braun Melsungen AG, Corvida Medical, Yukon Medical, Baxter International Inc., and others.

Simplivia Healthcare purchased a 70% share in NOVAMED, a diagnostic company that develops and manufactures a variety of diagnostic kits to address the growing trends in home care.

Browse Detailed Summary of Research Report@ https://www.futuremarketinsights.com/reports/closed-system-transfer-devices-market

Comments

Post a Comment

Popular posts from this blog

Targeted Therapies for Sandhoff Disease | Assessing the Global Market Landscape

Image
The global Sandhoff Disease Therapeutics Market Size is expected to be worth US$ 10 million in 2023 and US$ 17.91 million by 2033, with a CAGR of 6% from 2023 to 2033. From 2018 to 2022, the Sandhoff Disease Treatments market increased at a 4% CAGR. According to the most recent studies, Sandhoff sickness is a rare disorder that affects 1 in 1,000,000 people. The rising demand for these medications is projected to spur the discovery of novel therapies, propelling the market forward in the coming years. Gene therapy is being investigated as a potential treatment for Sandhoff disease. The therapy restores the ability to break down GM2 ganglioside by delivering a functional copy of the missing enzyme into the patient's cells. This has the potential to reduce or stop disease progression while also improving patient quality of life. Key Takeaways from the Market Study   The Sandhoff Disease Therapeutics market increased at a 4% CAGR from 2018 to 2022. From 2023 to 2033, the global Sandh
Read more

A Safer Tomorrow | Emerging Trends in Hospital-Acquired Infection Control Market

Image
According to Future Market Insights' recently released Hospital-acquired Infection Control Market analysis report, global Hospital-acquired Infection Control sales in 2023 are expected to be US$ 6.5 billion. The market is expected to increase at a CAGR of 7% between 2023 and 2033, reaching $12.7 billion by 2033. Hospitals and intensive care units are predicted to create significant income in the market, with a CAGR of 7.6%. The occurrence of hospital-acquired infections, increasing proportion of surgical procedures, growing geriatric population and increasing prevalence of chronic diseases, technological advancements in sterilisation equipment, and growing awareness of environmental and personal hygiene are the key factors driving the Hospital-acquired infection control market. The increased use of e-beam sterilisation, as well as the reintroduction of ethylene oxide sterilisation, is predicted to increase demand for hospital-acquired infection management. The percentage of treatm
Read more

Transforming Trauma | Emerging Therapies and Interventions in Post-Traumatic Stress Disorder Treatment Market

Image
According to Future Market Insights, the Post-Traumatic Stress Disorder (PTSD) Treatment Market Sales would grow at a 5% CAGR between 2023 and 2033. By 2033, the global market for post-traumatic stress disorder (PTSD) therapy is expected to reach US$ 27.37 billion. The market's growth might be attributed to the increased prevalence of PTSD globally. According to the National Centre for PTSD, approximately 7-8% of the US population will develop PTSD at some point in their lives, with greater percentages among military veterans and persons who have experienced sexual assault or other types of trauma. The COVID-19 pandemic has also been highlighted as a possible cause of PTSD, with healthcare workers, first responders, and people immediately impacted by the virus being especially vulnerable. In addition, there is a growing emphasis on using digital therapies and other non-pharmacological techniques to treat PTSD. For example, virtual reality exposure treatment (VRET) has shown potent
Read more