According to a recent market study published by Growth Market Reports, titled, "Global Drug Transfer Device Market by types, by components, by technologies, by end-users, and by regions: Size, Share, Trends and Opportunity Analysis, 2017-2027", the market was valued at USD 392.6 Mn in 2019 and is projected to reach USD 1,767.4 Mn by 2027, expanding at a CAGR of 21.2% during the forecast period.

Global Drug Transfer Device Market is anticipated to grow significantly during the forecast period. Increasing cancer patients and chemotherapy, increasing safety concerns of healthcare workers, growing use of drug transfer devices to combat effects of antineoplastic drugs, and increase in the approval of oncology drugs are some of the factors contributing to the market growth.

Global drug transfer device market has been segmented into types, components, technologies, end-users, and regions. In terms of types, the drug transfer device market is categorized as membrane-to-membrane systems and needleless systems. Based on components, the market is categorized as closed bag/line access devices, closed vial access devices, and closed syringe safety devices.

On the basis of technologies, the market is categorized as diaphragm-based devices, compartmentalized devices, and air cleaning/filtration devices. Based on end-users, the market is categorized as specialty centers, hospitals, clinics, and others. By regions, the IV Filter market is segmented as North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.

Request a free sample copy @ https://growthmarketreports.com/request-sample/2589  

Demographic changes characterized by decreasing fertility rates and increasing life expectancy in Europe and North America are boosting the aging population. Technological advancements are transforming the medical device industry by increasing the number of connected medical devices available to market and strengthening their role in healthcare. Significant innovations in wireless technology, small devices, and computing power are modernizing the landscape of the interconnectedness of medical devices and pave way for IoMT (Internet of Medical Things).

COVID- 19 has several positive and negative impacts on the world economy. Economic activities have come to a stand-still, as countries imposed harsh restrictions to curb the spread of coronavirus. This has left a long-lasting damage on the world economy. Government policies are expected to play a pivotal role in shaping the dynamics of the global drug transfer devices market during the forecast period. They provide guidance, efficiency, accountability, and clarity on the operation of DTD manufacturers in the industry.

Key Takeaways from the Study

  • Growing incidence of cancer is expected to drive the demand for membrane to membrane segment.
  • The capability of drug transfer devices to reduce aerosols, vapors and leakage caused by pressure while accessing the vial is subjected to boost the growth of closed vial access device segment.
  • The diaphragm-based device segment is anticipated to expand at a significant pace due to the safety and ease of operation provided by these devices.
  • The hospital segment holds a significant share of the market owing to increasing patient preference for hospitals.
  • Growing investments for purchasing drug transfer devices by hospitals is expected to boost the hospital segment.
  • North America - The closed bag/line access devices segment is expected to lose 29.1 BPS during forecast period 2020-2027. The closed vial access devices segment is anticipated to gain 63.3 BPS during forecast period.
  • Vented closed vial access devices are growing significantly owing to the availability of devices in various sizes.
  • North America - The largest bubble, i.e closed vial access devices segment is expected to hold significant market share position during forecast period.
  • The Specialty Centers segment was valued at USD 109.3 Million in 2019. The overall incremental opportunity between 2019 and 2027 is expected to be valued at USD 375.6 Million.
  • Hospitals segment total absolute $ opportunity is expected as USD 528.9 Million during the period of 2019 to 2027.

Report Scope

Report Metric

Details

Market Value in 2019

USD 392.6 Million

Market Growth Rate (from 2020 to 2027)

21.2%

Historical Data

2017 & 2018

Base Year

2019

Forecast Period

2020 – 2027

Market Segments

Types, Components, Technology, End-users, and Regions.

Region Scope

North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.

Key Companies Profiled

B. Braun Medical Inc., BD, Equashield LLC., ICU Medical, Inc., and JMS Co Ltd.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience

  • Demand Side: Specialty Centers, Hospitals, Clinics, among others.
  • Regulatory Side: Concerned government authorities, Central Drug Standards Control Organization (CDSCO), commercial research & development (R&D) institutions, and other regulatory bodies.
  • Associations and Industry Bodies: International Agency for Research on Cancer, Food and Drug Administration, among others.