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  • Published In : May 2024
  • Code : CMI6984
  • Pages :135
  • Formats :
      Excel and PDF
  • Industry : Biotechnology

Market Size and Trends

The closed system transfer device market is estimated to be valued at USD 1.40 Bn in 2024 and is expected to reach USD 4.07 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 16.5% from 2024 to 2031.

Closed System Transfer Device Market Key Factors

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The market is driven by the need to curb needlestick injuries and exposure to hazardous drugs. Closed system transfer devices provide an extra layer of safety compared to traditional methods during drug preparation and administration.

The closed system transfer device market is expected to witness significant growth over the forecast period. With increasing awareness about potential dangers of cytotoxic drug exposure and regulatory mandates to curb occupational hazards, healthcare providers are widely adopting closed drug transfer systems. Also, growing chemotherapy patient population and cancer cases worldwide is further expected to drive the demand for safer handling of hazardous drugs. Market players are also launching innovative product variants to better address needs across various therapeutic areas.

Market Drivers: Safety regulations to prevent needlestick injuries

With the growing risk of infections associated with needlestick injuries, major regulatory bodies have introduced stringent safety norms and guidelines to curb this hazard in healthcare settings. The Centers for Disease Control and Prevention (CDC) in the U.S. has issued mandatory sharps injury prevention regulations via the Needlestick Safety and Prevention Act to protect healthcare workers from accidental needlestick injuries and exposure to bloodborne pathogens. Likewise, the European Union has rolled out several directives focusing on safe handling of sharps and injection devices.

The implementation of these regulations has posed immense pressure on healthcare facilities to phase out the use of conventional syringes and vials that may lead to needlestick injuries during the reconstitution or administration of drugs. This has boosted the demand for advanced closed drug transfer systems that enable contained operations and zero exposure risk. Unlike conventional open vial systems, closed drug transfer devices ensure complete protection against accidental pricks by encapsulating the needle or cannula and isolating the drug product from the external environment. The focus on safer handling of hazardous drugs like antineoplastic injectables has further stimulated the adoption of these engineered safety solutions across hospitals, clinics, and other healthcare settings.

Adoption of advanced technologies

Tremendous advancements in drug delivery technologies that enhance patient safety, therapeutic efficacy, and optimize workflows have been witnessed. Closed drug transfer systems are pioneering technologies that leverage engineering prowess to address one of the most pressing issues concerning hazardous drug exposures faced by healthcare professionals worldwide. Beyond fulfilling safety compliance requirements, these systems allow for more efficient large scale compounding operations as they automate transfer and eliminate spillage risks. Their seamless integration with robotic infusion technology and workflow automation modules have enabled next-generation pharmacy compounding centers to achieve higher throughput while guaranteeing sterility.

Growing oncology drug pipelines have catalyzed the demand for specialized injectable preparations in healthcare facilities. At the same time, rapid technological evolution has equipped clinical staff with more potent and precise options for administering cancer therapeutics. In this scenario, closed drug transfer equipment have emerged as an indispensable tool supporting safe and reliable reconstitution of antineoplastic drugs. Their sophisticated mechanical designs combining hermetically sealed enclosures, automated cannula shielding mechanisms, and fluid handling modules offer a robust platform for advanced compounding needs. As novel biologic therapies enter the scene, healthcare providers are willing to strengthen workflow safety with cutting-edge closed drug transfer solutions.

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