The closed system drug transfer device market size is expected to reach USD 1.91 billion by 2028 according to a new study by Polaris Market Research. The report “Closed System Drug Transfer Device Market Share, Size, Trends, Industry Analysis Report, By Type (Filtration, Barrier); By Component (Line Access, Syringe Safety, Vial Access, Others); By Closing Mechanism; By Technology; By End-Use; By Regions; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The demand for closed system drug transfer devices is expected to increase during the forecast period owing to the increasing use of these machines for the treatment of diseases such as cancer, stringent regulations regarding safe handling of drugs, and technological advancements for the delivery of effective healthcare services drives the market growth. Governments across the globe are investing significantly in the development of advanced healthcare infrastructure, boosting market growth of closed system drug transfer devices system.
On the basis of type, the market is segmented into filtration, and barrier machines. Filtration segment are equipped with technology to clean the air passing between the environment and the hazardous drug vial. The vial access devices segment dominated the global market in 2020. These machines enable safe drug transfer from vial to syringe.
The increasing occurrence of cancer, advanced healthcare services, and growing investments in the development of advanced healthcare equipment by governments and private organizations are some factors expected to fuel the demand during the forecast period.
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The hospital segment dominated the global market in 2020. The increasing occurrence of cancer-related diseases coupled with government initiatives supports the growth of this segment. The growing geriatric population, and rising healthcare expenditure in developing countries, such as India, China, and Japan, boost the adoption of closed system drug transfer machines in hospitals.
North America dominated the global market in 2020 and is expected to maintain its dominance over the forecast period. However, Asia-Pacific is expected to experience significant growth during the forecast period owing to increasing health awareness, and rising spending on healthcare.
Some of the major market participants include Becton Dickinson and Company, JMS Co., Ltd., Codan Medizinische Geräte GmbH & Co Kg, Teva Pharmaceutical Industries Ltd., Victus, Inc., Baxter International Inc., Equashield LLC, B. Braun Melsungen, Caragen Ltd., Yukon Medical, ICU Medical Inc., and Corvida Medical.
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Polaris Market Research has segmented the closed system drug transfer device market report on the basis of type, component, closing mechanism, technology, end-use, and region:
Closed System Drug Transfer Device Type Outlook (Revenue, USD Million, 2016 – 2028)
- Filtration
- Barrier
Closed System Drug Transfer Device Component Outlook (Revenue, USD Million, 2016 – 2028)
- Line Access
- Syringe Safety
- Vial Access
- Others
Closed System Drug Transfer Device Closing Mechanism Outlook (Revenue, USD Million, 2016 – 2028)
- Click-to-Lock
- Luer-Lock
- Push-to-Turn
- Color-to-Color
- Others
Closed System Drug Transfer Device Technology Outlook (Revenue, USD Million, 2016 – 2028)
- Compartmentalized Devices
- Air Filtration Devices
- Diaphragm-Based Devices
- Others
Closed System Drug Transfer Device End-User Outlook (Revenue, USD Million, 2016 – 2028)
- Hospitals
- Clinics
- Oncology Diagnostic Centers
- Others
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Biologic Therapy Market Overview:Biologic therapy can be defined as a treatment that relies on living organisms to create products and invent a cure for various diseases.
The global Biologic Therapy Market size is banking on a CAGR of 6.1% between 2017 and 2023 that can be taken into consideration as the forecast period.
Market Research Future (MRFR) has explained in the report that the growth of the market would depend notably on funding and acceptance of the procedure.
But the biologic therapy market may find distraction in high cost, stringent regulations, and some adverse therapies.
These segments have significant market information regarding factors that can inspire the market growth in the coming years.
By product type, the biologic therapy market report can be segmented into kits & reagents, services, and instruments.By therapy, the global biologic therapy market can be segmented into protein therapy, vaccines therapy, cell therapy, and others.
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Food processors are investing significantly in food processing equipment to increase production efficiency and improve food quality.
Moreover, increasing health-consciousness is driving the demand for fortified food & beverages, which require advanced food processing technologies.
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Extrusion equipment assists in maintaining uniformity in the shapes and sizes of foodstuff throughout the food processing cycle.
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However, the stringent regulations and high cost of drugs are likely to hamper the growth of the global pain relief medication market.According to MRFR analysis, Pain Relief Medication Market Size is expected to register a CAGR of 4.73% during the forecast period of 2019 to 2025 and held a value of USD 55,275 million in 2018.Several market players currently dominate the global pain relief medication market.
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The opioids segment is predicted to be the fastest-growing due to the increasing awareness about the drugs in this class in the pain relief medication market.The global pain relief medication market has been segmented based on the indication, into cancer pain, neuropathic pain, musculoskeletal pain, inflammatory conditions, and others.
The neuropathic pain segment is expected to be the fastest-growing due to the rising patient population in different economies.The global pain relief medication market, by distribution channel, has been divided into hospital and retail pharmacies, and online pharmacies.
The hospitals and retail pharmacies segment is projected to hold the largest share of the market due to the increasing number of hospital in-visits.
Competitive Analysis:Some of the key players in the Global Heat Stabilizers Market Size are ADEKA CORPORATION (Japan), Clariant International AG (Switzerland), BASF SE (Germany), SONGWON (South Korea), Baerlocher GmbH (Germany), Oyak Group (Turkey), Galata Chemicals (U.S.), Reagens S.P.A. (Italy), Valtris Specialty Chemicals (U.S.), PMC Group, Inc. (U.S.), Ika Innovative Kunststoffaufbereitung GmbH & Co. Kg (Germany), Asúa Products, S.A. (Spain), Kisuma Chemicals (Netherlands), Vikas Ecotech Ltd. (India), and BRUNO BOCK Chemische Fabrik GmbH & Co. KG (Germany).Regional Analysis:Global Heat Stabilizers Market is spanned across five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa.Asia Pacific dominated the Global Heat Stabilizers Market in 2017 and is expected to continue dominating during the forecast period.
The growth is driven by the growing building & construction industry owing to the low production cost and cheap labor.
Furthermore, the automobile industry in China is driving strong demand for PVC in accordance with the growing trend towards replacing metal parts with plastic & composites to increase the fuel efficiency and is expected to continue growing at the same pace during the forecast period.
Moreover, the ‘Make in India’ initiative taken by the government is expected to augment the electrical & electronics, footwear industries in the country, which in turn drive the Heat Stabilizer Market over the forecast period.Europe is following Asia Pacific in terms of market size and is expected to show a considerable growth during the forecast period.
The established automotive industry is further contributing to the product market due to growing application of PVC in automotive components applications and is expected to exhibit a significant growth during the forecast period.
Furthermore, growing preference for mixed metals and organic Heat Stabilizers due to stringent regulations are further expected to stimulate the product market during the forecast period.Get Free Sample @ https://www.marketresearchfuture.com/sample_request/6129North America is another major market for Heat Stabilizer and is expected to exhibit steady growth during the forecast period.
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The rise in demand for disinfectants and sanitizers, owing to the current COVID-19 pandemic, is expected to drive the hypochlorous acid market in the U.K. during the forecast period.
The increase in the number of water & wastewater treatment plants, owing to a rise in the demand for clean and safe water for domestic as well as industrial usage is boosting the demand for hypochlorous acid in water & wastewater treatment plants.
The increase in awareness about healthy lifestyle and diet is fueling the trend of healthy eating.
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The rise in consumer awareness about the importance of clean water as well as enactment of stringent regulations on the supply of potable water by governments are anticipated to boost the consumption of hypochlorous acid in the near future.
