The South & Central America closed systems drug transfer devices market is expected to reach US$ 118. 49 million by 2027 from US$ 28. 37 million in 2019; it is estimated to grow at a CAGR of 19. 6% from 2020 to 2027.
New York, Feb. 25, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "South & Central America Closed Systems Drug Transfer Devices Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Closing Mechanism, Type ; Technology ; Component ; End User ; and Country" - https://www.reportlinker.com/p06004237/?utm_source=GNW
The closed systems drug transfer devices market in South & Central America is primarily driven by rise in adoption of chemotherapy and improvement of regulatory guidelines regarding hazardous drugs.However, the lack of regulatory guidelines regarding the safety of health workers in emerging countries restricts the growth of the market.
Additionally, continuous technological advancements in handling of hazardous drugs and rising number of chemotherapeutic drug approvals are expected to fuel the growth of the South & Central America closed systems drug transfer devices market during the forecast period.
Closed system drug transfer devices provide protection against hazardous drugs or vapors during drug preparation and administration.These devices comprise components to filter dangerous vapors.
Closed system drug transfer devices play a major role in providing protection to healthcare professionals who are in close proximity to antineoplastic drugs and other harmful medications. Government authorities are emphasizing on the implementation of occupational health and safety standards, which, in turn, offers lucrative growth opportunities for the South & Central America closed systems drug transfer devices market.
Several hazardous drugs, such as monoclonal antibodies, antineoplastics, and antibiotics, are used during patient treatment protocols.Pharmacists, nurses, physicians, and other healthcare workers are at great risk of exposure to hazardous drugs.
The cancer treatment comprises utilization of antineoplastic drugs that can cause several health implications if ingested.The antineoplastic can have a severe impact during pregnancies, and the exposure can lead to chromosomal abnormalities.
The surface contamination of chemotherapy treatment can impact not only healthcare professionals but also patients and their families.Increasing number of cancer cases are anticipated to drive the adoption of chemotherapies.
For instance, according to Cancer Atlas, in 2018, approximately 1.3 million new cancer cases and 666,000 cancer deaths were estimated in Latin America. The five common cancers in 2018 were female breast cancer (200,000 new cases, 15% of all cancer cases), prostate cancer (190,000, 14%), colorectal (128,000, 9%), lung (90,000, 7%) and stomach cancer (67,000, 5%). Lung cancer is the leading cause of death (81,000, 12%), followed by colorectal cancer (65,000 10%), prostate (54,000, 8%), female breast (53,000, 8%) and stomach (52,000, 8%). Thus, the consequent surge in adopting chemotherapies would eventually drive the demand for closed systems drug transfer devices in the coming years.
The COVID-19 pandemic hit the South & Central American countries causing huge effect on the economy and society.Additionally, The COVID-19 pandemic has disrupted the spectrum of cancer care, including delaying diagnoses and treatment and halting clinical trials.
Along with this, many medical companies have shifted their focus of manufacturing from closed systems drug transfer devices to respiratory devices. Such problems are likely to have a negative impact on the research and development activities, which would directly restrain the growth of the closed system drug transfer device market in the region.
In 2019, the push-to-turn systems segment accounted for the largest share of the market.The growth of this segment is attributed to increasing preference for push-to-turn mechanism, as it offers superior protection and availability of the product incorporating push-to-turn mechanism.
Furthermore, the luer-lock systems segment is expected to register the highest CAGR in the closed systems drug transfer devices market during the forecast period.
A few major secondary sources referred while preparing the South & Central America closed systems drug transfer devices market report are the World Health Organization, Globocan Cancer Statistics 2018, Cancer Atlas organization, and Brazilian National Cancer Institute.
Read the full report: https://www.reportlinker.com/p06004237/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: firstname.lastname@example.org US: (339)-368-6001 Intl: +1 339-368-6001