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Global Closed System Transfer Devices Market to reach USD 2461.36 million by 2027.

Global Closed System Transfer Devices Market Size study, by Product Type (Membrane-to-membrane systems, Needleless systems), by Closing Mechanism (Luer-lock systems, Push-to-turn systems, Click-to-lock systems, Color-to-color alignment systems), by Component (Vial access devices, Syringe safety devices, Bag/line access devices, Accessories), and Regional Forecasts 2021-2027

Product Code: ICTICTI-17420928
Publish Date: 2-09-2021
Page: 200

Global Closed System Transfer Devices Market is valued approximately at USD 686.92 Million in 2020 and is anticipated to grow with a healthy growth rate of more than 20.0% over the forecast period 2021-2027. A closed system transfer device is a kind of drug transfer device which mechanically prohibits transfer of contaminants present in environment into the system and also prevent the leakage of hazardous drug or the vapor concentrations outside the system. The global Closed System Transfer Devices market is being driven by increasing incidence of cancer and increasing number of oncology drug approvals. Furthermore, the increasing application of CSTDs in other therapeutic areas and increasing adoption in emerging economies due to rising healthcare expenditure, will provide new opportunities for the global Closed System Transfer Devices industry. For instance, according to the report of national cancer institute, in 2018, there were around 18.1 million new cases for cancer and 9.5 million cancer-related deaths across the world. Also, it is estimated that by year 2040, the number of new cancer cases is expected to reach 29.5 million per year and the number of cancer-related deaths is expected to reach 16.4 million by year 2040. As a result, increased incidences of cancer will serve as a catalyst for the Closed System Transfer Devices industry in the future. However, unstable raw material prices and rigorous regulations regarding quality standards may impede market growth over the forecast period of 2021-2027.

Asia Pacific, North America, Europe, Latin America, and Rest of the World are the key region considered for the regional analysis of global closed system transfer devices market. The presence of many market players, and the rising prevalence of cancer makes North America the leading region across the world. Whereas Asia pacific is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027, due to the growth in incidences of cancer and rising demand for better healthcare services in the region.
Major market player included in this report are:

Becton, Dickinson and company
ICU Medical
Braun Melsungen
Baxter International
Simplivia Healthcare
Corvida Medical
Yukon Medical
Codan Medizinische Geräte

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product Type:
Membrane-to-membrane systems
Needleless systems
By Closing Mechanism:
Luer-lock systems
Push-to-turn systems
Click-to-lock systems
Color-to-color alignment systems
By Component:
Vial access devices
Syringe safety devices
Bag/line access devices

By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.

Target Audience of the Global Closed System Transfer Devices Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
1.2.1. Closed System Transfer Devices Market, by region, 2019-2027 (USD Billion)
1.2.2. Closed System Transfer Devices Market, by Product Type, 2019-2027 (USD Billion)
1.2.3. Closed System Transfer Devices Market, by Closing Mechanism, 2019-2027 (USD Billion)
1.2.4. Closed System Transfer Devices Market, by Component, 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Closed System Transfer Devices Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Closed System Transfer Devices Market Dynamics
3.1. Closed System Transfer Devices Market Impact Analysis (2019-2027)
3.1.1. Market Drivers Rising incidence of cancer Increasing number of oncology drug approvals
3.1.2. Market Restraint High cost of implementation of CSTDs and lack of reimbursement Lack of compliance with regulatory guidelines in developing countries
3.1.3. Market Opportunities Increasing application of CSTDs in other therapeutic areas Increasing adoption in emerging economies due to rising healthcare expenditure
Chapter 4. Global Closed System Transfer Devices Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Closed System Transfer Devices Market, by Product Type
5.1. Market Snapshot
5.2. Global Closed System Transfer Devices Market by Product Type, Performance – Potential Analysis
5.3. Global Closed System Transfer Devices Market Estimates & Forecasts by Product Type 2018-2027 (USD Billion)
5.4. Closed System Transfer Devices Market, Sub Segment Analysis
5.4.1. Membrane-to-membrane systems
5.4.2. Needleless systems
Chapter 6. Global Closed System Transfer Devices Market, by Closing Mechanism
a. Market Snapshot
6.1. Global Closed System Transfer Devices Market by Closing Mechanism, Performance – Potential Analysis
6.2. Global Closed System Transfer Devices Market Estimates & Forecasts by Closing Mechanism 2018-2027 (USD Billion)
6.3. Closed System Transfer Devices Market , Sub Segment Analysis
6.3.1. Luer-lock systems
6.3.2. Push-to-turn systems
6.3.3. Click-to-lock systems
6.3.4. Color-to-color alignment systems
Chapter 7. Global Closed System Transfer Devices Market , by Component
b. Market Snapshot
7.1. Global Closed System Transfer Devices Market by Component, Performance – Potential Analysis
7.2. Global Closed System Transfer Devices Market Estimates & Forecasts by Component 2018-2027 (USD Billion)
7.3. Closed System Transfer Devices Market , Sub Segment Analysis
7.3.1. Vial access devices
7.3.2. Syringe safety devices
7.3.3. Bag/line access devices
7.3.4. Accessories
Chapter 8. Global Closed System Transfer Devices Market , Regional Analysis
8.1. Closed System Transfer Devices Market , Regional Market Snapshot
8.2. North America Closed System Transfer Devices Market
8.2.1. U.S. Closed System Transfer Devices Market Product Type breakdown estimates & forecasts, 2018-2027 Closing Mechanism breakdown estimates & forecasts, 2018-2027 Component breakdown estimates & forecasts, 2018-2027
8.2.2. Canada Closed System Transfer Devices Market
8.3. Europe Closed System Transfer Devices Market Snapshot
8.3.1. U.K. Closed System Transfer Devices Market
8.3.2. Germany Closed System Transfer Devices Market
8.3.3. France Closed System Transfer Devices Market
8.3.4. Spain Closed System Transfer Devices Market
8.3.5. Italy Closed System Transfer Devices Market
8.3.6. Rest of Europe Closed System Transfer Devices Market
8.4. Asia-Pacific Closed System Transfer Devices Market Snapshot
8.4.1. China Closed System Transfer Devices Market
8.4.2. India Closed System Transfer Devices Market
8.4.3. Japan Closed System Transfer Devices Market
8.4.4. Australia Closed System Transfer Devices Market
8.4.5. South Korea Closed System Transfer Devices Market
8.4.6. Rest of Asia Pacific Closed System Transfer Devices Market
8.5. Latin America Closed System Transfer Devices Market Snapshot
8.5.1. Brazil Closed System Transfer Devices Market
8.5.2. Mexico Closed System Transfer Devices Market
8.6. Rest of The World Closed System Transfer Devices Market
Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Becton, Dickinson and company Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.2.2. ICU Medical
9.2.3. Equashield
9.2.4. Braun Melsungen
9.2.5. JMS
9.2.6. Baxter international
9.2.7. Simplivia Healthcare
9.2.8. Corvida Medical
9.2.9. Yukon Medical
9.2.10. Codan Medizinische Geräte

Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
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Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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