The Europe Closed System Transfer Devices Market would witness market growth of 13.8% CAGR during the forecast period (2024-2031).
The Germany market dominated the Europe Closed System Transfer Devices Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $176.1 million by 2031. The UK market would experience of 12.8% during (2024 - 2031). Additionally, The France market is exhibiting a CAGR a CAGR of 14.7% during (2024 - 2031).
Traditional methods of drug handling, such as open vial transfer and manual reconstitution, pose significant risks of contamination and exposure. The adoption of closed-system handling with CSTDs mitigates these risks by providing a sealed environment for drug transfer and administration. Healthcare facilities increasingly recognize the advantages of closed-system handling in minimizing the risk of exposure to hazardous drugs.
The rising incidence of cancer and other diseases requiring treatment with chemotherapy and biological drugs has contributed to the increased adoption of CSTDs. These potent and hazardous medications require careful handling to ensure patient and healthcare workers’ safety. As the use of chemotherapy and biological drugs continues to grow, so does the demand for CSTDs to facilitate their safe handling and administration.
With higher healthcare expenditure, European healthcare systems allocate more resources towards improving patient safety and minimizing risks associated with medical procedures. As per the data from the Organization for Economic Co-operation and Development, in 2020, an unprecedented 10.9% of the GDP of the European Union was devoted to health care. With health expenditures exceeding 12% of their GDP, Germany and France allocated the highest proportions. Belgium, Austria, Sweden, and the Netherlands spent more than 11 percent of their GDP on health. The growing investment in patient safety drives the adoption of CSTDs as an essential component of comprehensive safety protocols. Therefore, the pharmaceutical industry’s expansion and the healthcare sector’s high expenditure drive the market’s growth.
Free Valuable Insights: The Global Closed System Transfer Devices Market will Hit USD 2.9 Billion by 2031, at a CAGR of 14.2%
Based on Type, the market is segmented into Membrane-to-Membrane, and Needleless. Based on Component, the market is segmented into Vial access components, Female Components, Male Luers, Bag Spikes, and Others. Based on Technology, the market is segmented into Diaphragm-based devices, Compartmentalized devices, and Air cleaning/filtration devices. Based on Closing Mechanism, the market is segmented into Luer Lock System, Push-to-Turn System, Click-to-Lock System, and Color-to-Color alignment System. Based on End User, the market is segmented into Hospitals & Clinics, Oncology Centers, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Type
By Component
By Technology
By Closing Mechanism
By End User
By Country
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