Market Trends of Global Closed System Transfer Devices (CSTD) Industry
This section covers the major market trends shaping the Closed System Transfer Devices (CSTD) Market according to our research experts:
Needleless System Transfer Devices Anticipated to Grow at Significant Rates during the Forecast Period
The Needleless system segment is anticipated to grow at notable rates owing to the advantages such as needle-free transfer of the medication, new product launches, and safety. The advantages such as ease of use, and low risk of contamination ensure the safety anticipated to increase the usage of the needleless transfer devices over the forecast period.
There has been a rise in the prevalence of chronic diseases such as diabetes, cancer, heart disease, and stroke. Other lifestyle diseases such as chronic lung disease, chronic kidney disease, and Alzheimer's disease have also been on the rise over the past decade. In 2021, the Center for Disease Control and Prevention has listed that in the United States, six in ten adults have at least one chronic disease and four in ten adults have two or more. The increasing prevalence of such chronic diseases has also augmented the innovations in the needleless drug delivery system.
The large prevalence of chronic diseases such as cancer and diabetes is expected to propel the growth of the market over the forecast period. The IDF Diabetes Atlas Tenth edition by the International Diabetes Federation showed that around 537 million adults are affected by diabetes as of 2021. The number of cases is projected to rise to 643 million by 2030 and to 783 million by 2045. The type 1 diabetic patients require insulin to be injected for controlling the blood sugar levels. Companies such as Insujet provide needle-free solution for insulin therapy, which are likely to add to the growth of the needleless systems segment over the forecast period.
Moreover, the growing incidence of cancer cases and awareness regarding the usage of closed system transfer devices anticipated to fuel the market growth.
North America Expected to have Significant Market Share over the Forecast Period.
North America is expected to have a significant market share in closed system transfer devices market. The growth is attributed to initiatives taken by the U.S. Food and Drug Administration and other regulatory bodies in North America to ensure patient safety coupled with the increasing number of oncology drug approvals in the region. The Asia Pacific region is projected to have a notable growth rate owing to the factors such as the increase in cancer research, the growing prevalence of cancer in developing and underdeveloped countries of the region. Furthermore, the usage of the closed system transfer devices to combat the hazardous drugs in the region and continuous efforts by the public and private organizations are anticipated to boost regional growth.
The rising number of chronic disease cases in the North American region is adding to the growth of the closed system transfer devices market. Cancer is one of the top ten leading causes of death in the United States. According to the GLOBOCAN 2020 report, the total number of people in the United States affected by cancer in 2020 accounts for around 2,281,658 cases. The number is estimated to rise to 3,123,452 cases by 2040. According to the National Diabetes Statistics Report, in 2020, around 37.3 million people in the United States were found to have diabetes; around 96 million adults were found to have pre-diabetes. The National Kidney Foundation in 2020 has estimated that about 36 million adults in the US have chronic kidney diseases. A report by the Center for Disease prevention and Control in 2020 showed that around 15.7 million Americans are affected by chronic lower respiratory Disease. The large population affected by the chronic diseases and the increase in the necessity of novel drug delivery systems are expected to significantly boost the growth of the market.
Several key market players in the North American region are also aiding the market growth. For instance, in December 2021, B. Braun Medical Inc. launched the OnGuard 2 CSTD in the United States. The OnGuard 2 incorporated all of the current advantages of the previously launched OnGuard while offering upgraded materials and enhanced features to improve its usability.Such product launches are expected to propel the market growth over the forecast period.
