Europe Closed System Transfer Devices Market, By Type (Membrane-To Membrane Systems and Needle-free Closed System Transfer Device), Component (Devices and Accessories), Closing Mechanism (Push-To-Turn Systems, Color-To-Color Alignment Systems, Luer-Lock System and Click-To-Lock Systems), Technology (Diaphragm-Based Devices, Compartmentalized Devices and Air Cleaning/Filtration Devices), End User (Hospitals, Oncology Centers & Clinics, Ambulatory Surgical Centers, Academic and Research Institutes), Distribution Channel (Direct Tender and Retail Sales), Country (Germany, France, U.K., Italy, Spain, The Netherlands, Switzerland, Russia, Turkey, Belgium and Rest of Europe) Industry Trends and Forecast To 2028.
Market Analysis and Insights: Europe Closed System Transfer Devices Market
Europe closed system transfer devices market is expected to gain significant growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 18.4% in the forecast period of 2021 to 2028 and is expected to reach USD 502,571.95 thousand by 2028. Technological advancements in the delivery of effective healthcare service is boosting the market.
Closed system transfer device or "CSTD" is a drug transfer device, which mechanically prohibits the transfer of environmental contamination in medical system and escape of hazardous drug or vapor concentrations outside the system. Open versus closed systems are commonly applied in medical devices to maintain the sterility of a fluid pathway. CSTDs work by preventing the uncontrolled inflow and outflow of contaminants and drugs, preserving the quality of solution to be infused into a patient. These devices ensure safety of healthcare workers during the usage of hazardous drugs or chemicals. Closed system transfer device designs and models have changed at a rapid rate in recent years, resulting in the development of a number of independent testing methodologies to assess closed system transfer device performance. Currently, manufacturers in the closed system transfer devices market are focusing more on adhering to performance requirements, which largely focus on patient safety and sterile practices.
Rise in safety concerns of healthcare workers is the major driving factor in the market. Shortage of skilled personnel in healthcare sector can prove to be the major challenge for market growth. However, extensive research funding projects from government in safe handling of drugs prove to be an opportunity for the market. On the other hand, lack of compatibility between the biologic and construction material of the CSTDs is expected to restrain the growth of the market. In addition, challenges faced due to the impact of Covid-19 on supply chain of raw materials are expected to further limit market growth.
The closed system transfer devices market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the closed system transfer devices market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Europe Closed System Transfer Devices Market Scope and Market Size
Europe closed system transfer devices market is segmented on the basis of type, component, closing mechanism, technology, end user, and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the Europe closed system transfer devices market is segmented into membrane-to membrane systems and needle-free closed system transfer device. In 2021, membrane-to-membrane systems segment is expected to dominate the market due to its higher usage and effectiveness. This type is highly preferred by popular producers.
- On the basis of component, the Europe closed system transfer devices market has been segmented into devices and accessories. In 2021, devices segment is expected to dominate the market because it generates higher revenue when compared to accessories.
- On the basis of closing mechanism, the Europe closed system transfer devices market has been segmented into push-to-turn systems, color-to-color alignment systems, luer-lock system and click-to-lock systems. In 2021, click-to-lock segment is expected to dominate the market as it is highly effective in eliminating the contamination issues. Also its simpler mechanism makes it more popular among consumers.
- On the basis of technology, the Europe closed system transfer devices market has been segmented into diaphragm-based devices, compartmentalized devices, and air cleaning/filtration devices. In 2021, diaphragm-based devices segment is expected to dominate the market as this technology is widely used by most of dominating brands of CSTDs due to its sealing capability, which makes it less prone to contamination.
- On the basis of end user, the Europe closed system transfer devices market is categorized into hospitals, oncology centers & clinics, ambulatory surgical centers, academic and research institutes. In 2021, hospital segment is expected to dominate the market as hospitals are using more CSTD products to protect their staff as instructed by various regulatory bodies in Europe.
- On the basis of distribution channel, the Europe closed system transfer devices market is segmented into direct tender and retail sales. In 2021, retail sales segment is expected to dominate the market because producers are widely using this sales channel to expand their business throughout the world.
Europe Closed System Transfer Devices Market Country Level Analysis
The closed system transfer devices market is analyzed and market size information is provided by the country, type, component, closing mechanism, technology, end user and distribution channel as referenced above.
Countries covered in the closed system transfer devices market report are the Germany, France, U.K., Italy, Spain, The Netherlands, Switzerland, Russia, Turkey, Belgium, and Rest of Europe. Germany dominates the market due to its advanced healthcare infrastructure and research related to oncology treatment.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Europe brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Increasing Number of Oncology Drug Approvals is Boosting the Market Growth of Closed System Transfer Devices Market.
Europe closed system transfer devices market also provides you with detailed market analysis for every country growth in particular market. Additionally, it provides the detail information regarding the market players’ strategy and their geographical presence. The data is available for historic period 2010 to 2019.
Competitive Landscape and Closed System Transfer Devices Market Share Analysis
Closed system transfer devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, and technology lifeline curve. The above data points provided are only related to the companies’ focus related to the Europe closed system transfer devices market.
Major companies operating in the closed system transfer devices market are ICU Medical, Inc., BD, B. Braun Medical Inc., EQUASHIELD, YUKON MEDICAL, Simplivia, Caragen Ltd., Vygon, Epic Medical and others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many contracts and agreements are also initiated by the companies’ worldwide which are also accelerating the closed system transfer devices market.
For instance,
- In May 2021, BD announced its plan to build a USD 200.00 million high-tech manufacturing facility in Spain. It will also meet high sustainability and eco-efficiency standards, and will also incorporate with the latest autonomous technologies known as industry 4.0 solutions. This will help the company to produce easy drug delivery devices, mainly for pharmaceutical companies that supply the products throughout the European market.
- In October 2020, Vygon announced the distribution of Medovate’s SAFIRA (SAFer Injection for Regional Anaesthesia) device across 60 countries. SAFIRA was created in partnership with UK National Health Service clinicians to make peripheral nerve blockade a one-person procedure, allowing the anesthesiologist complete control over the injection at all times. With this acquisition, the company had marked a significant milestone in the launch of SAFIRA across Europe, the U.S. and a number of other market and was also recognized as a leading medical device developer & manufacturing in the market.
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