Global Closed System Transfer Devices (CSTD) Market Size

Closed System Transfer Devices (CSTD) Market Analysis

The closed system transfer devices are expected to project a CAGR of 18% over the forecast period (2022-2027).

The healthcare system has witnessed enormous challenges as a result of the COVID-19 pandemic. All outpatient treatments were postponed or restricted during the COVID-19 pandemic to reduce the risk of viral transmission as most chronic therapies were regarded as non-urgent. However, with the advent of the COVID-19 infection, large-scale vaccinations were performed all over the world, which majorly benefitted the closed system transfer devices market. An article titled 'A Needle-Free Jet Injection System for Controlled Release and Repeated Biopharmaceutical Delivery' published in the journal of Pharmaceuticals in November 2021 studied the successful design and working model of an air-driven needle-free jet injector, which is a type of needleless closed system transfer device, for use during the large-scale COVID-19 vaccinations. The model had a drug delivery efficiency of 96.7% for 0.2 mL/shot injections and 97.8% drug transfer efficiency at 0.5 mL/shot. The proposed model could be used commercially, as the WHO guidelines for injection devices require 86% or higher accuracy. Such developments in closed system transfer devices are likely to add to the growth of the market over the forecast period.

The increasing prevalence of cancer around the world and the rise in the number of oncology product approvals are major factors attributing to the growth of the studied market. According to the GLOBOCAN 2020 report, the total number of people in the world affected by cancer in 2020 accounts for around 19,292,789 cases. The number is estimated to rise to 28,887,940 cases by 2040. The huge number of people affected by cancer, creating a demand for innovative drug delivery technologies is expected to add to the growth of the closed system transfer devices market.

Limiting the exposure to hazardous drugs/chemicals is important due to the potential harm that might cause to healthcare workers and patients in healthcare/clinical setups. Due to the increased incidence of hazardous drug exposures in many countries, the regulatory authorities have taken many initiatives to ensure the safety of patients and healthcare workers. Owing to the factors such as growing awareness regarding usage of closed system transfer devices and increased oncology drug approvals global closed system transfer devices (CSTD) market is expected to grow significantly. Furthermore, the technological advancements in closed system transfer devices anticipated to boost the market growth.

However, the high cost involved in the implementation of closed system transfer devices directly increases the cost of treatment/products. Furthermore, improper regulatory guidelines in developing and underdeveloped countries may hamper market growth over the forecast period.