The global closed system transfer devices market will touch USD 3,516 million by 2030, advancing at a CAGR of 15.20% during 2022–2030.
This growth can be credited to the growing need for CSTDs to confront the damaging effects of medications including antineoplastic or cytotoxic agents utilized to treat cancer, hormone agents, bioengineered drugs, and hormone agents.
Oncology drugs are the most vital extents of attention for pharmaceutical businesses globally. With new advancements in the field of the drug, there will be more treatment choices existing and more safety problems will come with every new drug.
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The hospitals & clinics category, generated the highest revenue share, based on the end users. This is because of the presence of a vast populace base of cancer patients, who are being cured and treated by a huge count of clinics and hospitals. Because of a high count of cancer cases and healthcare amenities, the count of healthcare employees who are at work directly in contact with dangerous medications is quite high.
North America had the largest market share in 2022, because of the snowballing knowledge of healthcare employees regarding harmful drugs and their impacts, and the existence of key players who are making these devices in the continent. In North America, the U.S. generates a higher revenue share, credited to the huge number of cancer cases in the nation.
Hence, the growing need for CSTDs to confront the damaging effects of medications including antineoplastic or cytotoxic agents utilized to treat cancer, hormone agents, bioengineered drugs, and hormone agents, these are the major factors contributing in the growth of the closed system transfer devices market.