Hazardous Drugs Closed System Transfer Device Market: Revenue and growth prediction till 2026 with covid-19 impact analysis

September 03, 2021

Sept 2^nd,2021/IndustryNewsGlobal/ -- The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Hazardous Drugs Closed System Transfer Device Market.

Hazardous Drugs Closed System Transfer Device Market  is projected to grow from USD 398.5 million in 2020 to USD 1,220.4 million by 2026 at a CAGR of over 20.6% during the forecast period. This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

Segment Analysis

End Use Trends

By end use, the hazardous drugs closed system transfer device market has been segmented into hospitals, oncology clinics and centers, and others.

Under these, the hospitals segment garnered the highest market share in 2020 and is projected to register the substantial CAGR during the review period.

This is mainly attributed to increasing cancer patient pool, robust financial capabilities of hospitals for purchasing high-priced CSTDs when compared to oncology centers, and the growing need to comply with the regulatory guidelines established by the NIOSH and FDA regarding the safety of healthcare providers.

Regional Trends

By region, the market in the North America accounted for the highest share in 2020 and is projected to grow at a steady CAGR during the assessment period. This is mainly ascribed to favourable initiatives taken by the U.S. Food and Drug Administration and other regulatory bodies in North America to ensure patient safety along with the rising number of oncology drug approvals, which further boosts the regional growth.

Key Players:           

• Becton, Dickinson, and Company (BD) (The U.S),
• ICU Medical, Inc. (The U.S),
• B. Braun Melsungen (Germany),
• JMS Co., Ltd. (Japan),
• Equashield LLC. (The U.S),
• Teva Pharmaceutical Industries Ltd. (Israel),
• Corvida Medical (The U.S),
• Yukon Medical (Canada),
• Codan Medizinische Geräte GmbH & Co Kg (Germany), and
• Victus, Inc. (The U.S).

Features of the Report

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

The Hazardous Drugs Closed System Transfer Device Market analysis report discusses the following heads in great detail:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• COVID-19 Impact Assessment
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors 

About Stratview Research

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Author : Emily