The Closed System Transfer Device Market is expected to reach USD 2,432.4 Million by 2025 from USD 921.2 Million in 2018, at a CAGR of 17.57% from 2019 to 2025. The Closed System Transfer Device Market is expected to grow at a CAGR of 17.57% during the forecast period of 2019-2025. The market growth is mainly driven by the rising number of patients requiring medical treatment and especially growing medical research activities. Increasing medicines production, better availability of cytotoxic drugs at the workplace or at hospital, along with advancements in the field of medical devices are also responsible for the exponential growth in the market. Further, in recent years rising cases of cancer, as well approval for the oncology drugs is also projected to drive the demand for such Closed System Transfer Device.
Key companies profiled in the report are Becton, Dickinson and Company, Equashield, LLC, Teva Pharmaceutical Industries Ltd, Corvida Medical, ICU Medical, Inc., B. Braun Melsungen AG, JMS Co. Ltd., Yukon Medical, Victus Inc, Caragen Ltd. The continuous research & development activities to address changing demand of the industry companies spend heavy on the R&D expenses. The intense new product launches continue to be a key driver for the major manufacturers of the CSTD providers in the market. Key players have adopted key strategies such as expansion, mergers, acquisition to increase its operational presence in recent years.
Closed System Transfer Device Market Segmentation:
Closed System Transfer Device Market Overview, By Component
Closed System Transfer Device Market Overview, By Types
Closed System Transfer Device Market Overview, By End Users
Closed System Transfer Device Industry, By Region