Closed system transfer devices market projected to reach USD 3.6 billion by 2034
Summary: The global market for closed system transfer devices (CSTD) is projected to grow from $1.2 billion in 2023 to $3.6 billion by 2034, with a compound annual growth rate of 10.0%. Increased awareness of hazardous medication risks is driving this growth.
North America currently leads the CSTD market, supported by strict regulations for handling dangerous drugs. The rising incidence of cancer in the region is also contributing to the demand for safe medication administration technologies.
Recent developments include EQUASHIELD's FDA clearance for its syringe unit, designed to enhance safety in handling hazardous drugs. This reflects a broader trend of healthcare facilities prioritizing worker safety and compliance with safety standards.
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