Albany, NY -- (SBWire) -- 01/03/2019 --According to the National Institute for Occupational Safety and Health, a closed system transfer device (CSTD) is a system that mechanically stops the environmental contaminants from entering into the system and removes hazardous drugs or vapor from the system. The concept of a closed system transfer device was developed when professional bodies (industry experts) and regulatory authorities discovered the risk of exposure of caregivers to antineoplastic agents other hazardous medicines.

The risks sometimes have short-term effects such as skin irritation. However, sometimes caregivers may experience long-term effects such as risk of miscarriage, infertility, congenital malformations, etc.. Health care professionals may face the risks of exposure during the manufacture, transport, distribution, storage, and even disposal of medicines. In the U.S., around 8 million workers have been found to be exposed to hazardous medicines in the workplace.

The global closed system transfer device (CSTD) market is primarily driven by an increase in the production of medicines, higher availability of cytotoxic drugs in the workplace, and technological advancements. However, stringent regulatory scenario and intellectual property rights are likely to restrain the global closed system transfer device (CSTD) market in the near future. Nevertheless, mergers and acquisitions of major players and increase in R&D investments by major companies are expected to provide attractive opportunities to the global closed system transfer device (CSTD) market during the forecast period.

The global closed system transfer device (CSTD) market can be segmented based on component, application, distribution channel, and region. In terms of component, the global closed system transfer device (CSTD) market can be categorized into pharmacy components and tubing sets and accessories. The pharmacy component segment can be further classified into syringe unit, vial adaptors, spike adaptor, syringe to syringe adaptor, and others.

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The tubing sets and accessories segment can be further categorized into luer lock connectors, catheter adapters, intravenous tubing sets, reconstitution tubing, and others. Based on application, the global CSTD market can be divided into nursing, veterinary, and pharmacy. In terms of distribution channel, the global closed system transfer device (CSTD) market can be classified into direct sales and distributors.

Based on region, the global closed system transfer device (CSTD) market can be categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America held a leading share of the global closed system transfer device (CSTD) market in 2017, owing to a highly developed health care industry, strong research and development infrastructure, well-established health care system, presence of major players, high awareness about CSTD products among end-users, and technological advancements in the region. Germany, France, and the U.K. constituted a major share of the closed system transfer device (CSTD) market in Europe in 2017. The market in Italy and Spain is expected to expand at a significant pace during the forecast period. The high share of the market in Germany, France, and the U.K was driven by a highly developed health care industry, prominent research and development infrastructure, availability of CSTD products, presence of major players, and contribution of small companies. The closed system transfer device (CSTD) market in Italy and Spain is expected to be propelled by developing health care infrastructure and technological advancements in the next few years.

China and Japan held a dominant share of the closed system transfer device (CSTD) market in Asia Pacific in 2017. The market in India is estimated to expand at a significant CAGR in the near future, owing to the emerging health care industry and the presence of well-established domestic players. An underdeveloped health care industry and lower technological progress are likely to hamper the closed system transfer device (CSTD) market in Latin America and Middle East & Africa during the forecast period.

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Key players operating in the global closed system transfer device market are Equashield LLC., BD Medical, Inc, B. Braun Medical Inc., ICU Medical, Inc, Teva Medical Ltd, Corvida Medical, Hospira (acquired by Pfizer), Yukon Medical, and others.

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