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  • Published In : May 2024
  • Code : CMI6984
  • Pages :135
  • Formats :
      Excel and PDF
  • Industry : Biotechnology
Market Challenges: Lack of standardization and stringent regulations

Regulatory compliance is driving adoption but also increasing compliance costs for manufacturers. Healthcare facilities must invest in updating older equipment to be compatible with newer closed system technologies. Low awareness among healthcare workers regarding the safety benefits of closed systems hampers their full potential. Training medical staff takes time and resources, and achieving company-wide implementation presents logistical hurdles.

Market Opportunities: Potential in emerging markets

As regulations tighten around hazardous drug handling, the demand will continue growing. Larger hospitals and oncology centers in particular represent a sizable addressable market. Innovation in closed system designs may help reduce costs and complexity of use. Increasing compatibility of closed systems with existing medical equipment expands applicability. Rising awareness about occupational exposure risks also heightens the appeal of closed systems' safety benefits among hospitals and staff.

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