Becton, Dickinson and Company (US), ICU Medical (US) and Equashield (US) Prominent Players in the Closed System Transfer Devices Market
The closed system transfer devices (CSTDs) market is projected to reach USD 2,002 million by 2026 from USD 814 million in 2021, at a CAGR of 19.7% during the forecast period. Market growth is largely driven by the harmful effects (lingering role) of cytotoxic drugs, rising incidence of cancer, an increasing number of oncology drug approvals, and improving regulatory guidelines regarding the safe handling of hazardous drugs. However, the high cost of implementation of CSTDs, along with a lack of reimbursement for CSTDs and compliance to regulatory guidelines in developing countries, hampers the adoption of these products in hospitals and oncology centers to a certain extent.
The prominent players in the closed system transfer device market are Becton, Dickinson and Company (US), ICU Medical (US), B Braun Melsungen (Germany), JMS (Japan), Equashield (US), Baxter International (US), West Pharmaceuticals Services (US), Simplivia Healthcare (Israel), Corvida Medical (US), Yukon Medical (US), CODAN Medizinische Geräte GmbH & Co KG (Germany), Victus (US), Caragen (Ireland), Vygon SA (US), Practivet (US), Corning Incorporated (US), Terumo Corporation (Japan), Cardinal Health (US), Eraser Medical (Turkey) and Insung Medical (South Korea) among others. These players have adopted various growth strategies such as acquisition, product launches, and expansion to increase their presence and reach in the medical device contract manufacturing market.
To know about the assumptions considered for the study download the pdf brochure
Becton, Dickinson and Company
BD’s leading position in this market is attributed to its wide product portfolio, including hazardous drug safety products, such as the PhaSeal and Texium System. The company has a wide geographic presence spanning over 50 countries. The adoption of BD’s PhaSeal system is higher than other CSTDs in the US and other markets due to its compatibility with many chemotherapy drugs. The company focuses on strengthening its product offerings and expanding its global presence. For instance, in 2021, the company expanded its medical facilities in Spain and Arizona, US. In addition to this, the company’s investment in R&D has increased from USD 10.0 million in 2018 to USD 10.9 million in 2020.
ICU Medical
ICU Medical offers a strong portfolio for the safe handling of hazardous IV drugs. Its product line includes needleless and automated drug compounding systems. To increase its geographic presence, the company entered into a long-term supply agreement with Terumo Corporation (Japan). According to this agreement, Terumo will distribute ICU’s entire product portfolio, including IV therapy and CSTD products, in Japan and Asia. The company’s infusion consumables segment has shown steady growth in the past three years, contributing ~USD 47.3 million to the total revenue and accounting for the largest share of 37% in the entire revenue mix.
Equashield
Equashield offers closed syringes and adapters for accessing vials and IV bags in pharmacy and connectors and tubing sets for nursing. The company distributes its products in the US. Outside the US, Equashield distributes and provides services to customers in four continents through its international network of distributors. Equashield’s product suite includes EQUASHIELD I, II, its flagship CSTD, and EQUASHIELD Pro, a system-enabled multi-station hazardous IV drug compounder. The company achieves its target by entering into partnerships to expand its global footprint. The company has expanded to countries like Brazil, the Netherlands, and the UK in the last three years.
Related Reports:
Closed System Transfer Devices Market by Type (Membrane-to-Membrane, Needleless), Technology (Diaphragm based, Compartmentalized, Filtration), Component, End User (Hospitals & Clinics, Oncology Centers), and Region - Global Forecast to 2026
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]
This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.
SEND ME A FREE SAMPLE
