The Latin America, Middle East and Africa Closed System Transfer Devices Market would witness market growth of 17.0% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA 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 $58.7 million by 2031. The Argentina market is showcasing a CAGR of 17.6% during (2024 - 2031). Additionally, The UAE market would register a CAGR of 16.6% during (2024 - 2031).
CSTDs are increasingly used in home infusion therapy settings. These devices enable safe drug administration by trained caregivers in the comfort of patients’ homes, improving convenience and adherence to treatment regimens. CSTDs allow for the safe transfer and administration of intravenous medications, including chemotherapy drugs, in home settings, ensuring patient safety and comfort.
CSTDs are used in veterinary medicine to safely handle and administer hazardous drugs in animal healthcare settings. Veterinarians use CSTDs to protect themselves and their animal patients from the risks associated with chemotherapy and other potent medications. These tools are essential for guaranteeing that animals receive safe and efficient care while lowering the possibility of exposure to potentially harmful medications.
There is a chance to increase oncology care services in Argentina as the country devotes more funds to healthcare to fulfill the rising need for cancer treatment. According to World Bank data, the World Bank Board of Directors authorized US$ 50 million in fresh funding for Argentina. This will aid in enhancing public healthcare service accessibility and guarantee continuous care provision for the 6.5 million inhabitants of the province of Buenos Aires who do not possess private health insurance. The expansion of oncology care services creates a greater demand for CSTDs, as these devices are essential for safely handling and administering chemotherapy drugs, thereby driving demand in Argentina. Thus, the increasing expenditure of the healthcare sector is driving the market’s growth.
Free Valuable Insights: The Worldwide Closed System Transfer Devices Market is Projected to reach 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Type
By Component
By Technology
By Closing Mechanism
By End User
By Country
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