Global Sternal Closure Systems Market Insights Forecasts to 2032

• The Global Sternal Closure Systems Market Size was valued at USD 2.8 Billion in 2022.
• The Market Size is Growing at a CAGR of 4.86% from 2022 to 2032.
• The Worldwide Sternal Closure Systems Market size is expected to reach USD 4.5 Billion by 2032.
• Asia Pacific is expected to Grow the fastest during the forecast period.

Get more details on this report -

Request Free Sample PDF

The Global Sternal Closure Systems Market Size is expected to reach USD 4.5 Billion by 2032, at a CAGR of 4.86% during the forecast period 2022 to 2032.

 

Market Overview

The term "sternal closure systems" refers to the techniques used to fixate and stabilize fractures of the anterior chest wall. The systems are frequently used in sternal fixation after sternal reconstructive surgeries to facilitate fusion. After a sternotomy, the sternum is stabilized and fixed with the help of orthopedic devices called sternal closure devices. The operation known as a sternotomy involves opening the chest cavity surgically to access the organ located behind the sternum or breast bone. To treat and manage cardiovascular disease, cardiac surgery is primarily performed. Sternotomy can, however, also be used to treat injuries brought on by accidents. The number of open heart surgeries has also increased as a result of the rising prevalence of the cardiovascular disease worldwide. Future sterna closure device usage is anticipated to be considerably boosted by this factor.

 

Report Coverage

This research report categorizes the global sternal closure systems market based on various segments and regions forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global sternal closure systems market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global sternal closure systems market. Technological innovation and advancement will further optimize the performance of the product, enabling it to acquire a wider range of applications in the downstream market.

 

Driving Factors

The market for sternal closure systems is expanding as a result of the rising number of senior people having open-heart surgery using median sternotomies, which is one of the main reasons driving the geriatric population expansion. Moreover, developing nations are spending a lot on public medical infrastructure as a result of the rise in non-communicable disease incidence and the number of people with major injuries, which will dramatically increase the number of surgical procedures here. Additionally, it is anticipated that the industry will grow rapidly due to helpful medical programs and advantageous reimbursement regulations. Governments have been increasingly concerned with healthcare, which has led to significant investments in medical infrastructure and treatments. As a result, there has been a global increase in the network of hospitals, which will have a significant favorable effect on this field.

 

Restraining Factors

For sternal closure following crucial surgical procedures (such as cardiac bypass surgery, acute traumatic heart surgeries, and cardiac valve repair surgery), surgeons throughout the world are using more and more specialized surgical devices with cutting-edge technology. In contrast, sternal closure procedures frequently result in several postoperative problems, including sternal dehiscence, deep wound infections, and chronic discomfort. Comparatively to adult patients, geriatric, diabetic, and obese individuals are more likely to develop post-operative sternal wound infections.

 

Market Segmentation

• In 2022, the closure devices segment is dominating the largest market share during the forecast period.

On the basis of product, the global sternal closure systems market is segmented into different segments such as closure devices and bone cement. Among these segments, the closure devices segment is expected to have significant development potential during the forecast period due to factors like product launches and increased per capita spending in both developed and emerging economies. In comparison to bone cement, these devices have shown advantages like a reduction in surgical problems and infections as well as a quicker recovery time. Additionally, increasing efforts being made by major market players to launch new methodologies and product lines are probably going to accelerate the segment's growth during the forecast period.

 

• In 2022, the median sternotomy segment is influencing the market with the largest market share during the forecast period.

Based on the procedure, the global sternal closure systems market is segmented into various types such as median sternotomy, hemisternotomy, bilateral thoracosternotomy, & others. Among these segments, the median sternotomy segment is dominating the market with the largest revenue share during the forecast period due to Due to the ease with which the heart, lungs, and surrounding structures can be reached during heart valve replacement and coronary artery bypass surgery, median sternotomies are regularly carried out osteotomies all over the world. Additionally lowering post-operative infections and complications, median sternotomies are in higher demand worldwide. Also, the demand for median sternotomies is predicted to increase as the aging population, which is more likely to acquire chronic cardiac conditions such CVDs, grows.

 

• In 2022, the titanium segment is influencing the market with the largest market share during the forecast period.

On the basis of material, the global sternal closure systems market is segmented into various types such as titanium, polyether ether ketone (PEEK), stainless steel, & others. Among these segments, the titanium segment is dominating the market with the largest revenue share during the forecast period owing to the benefits of titanium, including its biocompatibility, ability to efficiently join human bones, and corrosion resistance. These materials are also becoming more and more prevalent in the market thanks to their non-ferromagnetic properties, which enable patients with titanium implants to undergo safe MRI scans. Additionally, increased economic viability and increased affordability for the use of advanced titanium clips and plates in both developed and developing regions are projected to support the penetration of titanium-based sternal closure systems. These factors, along with the high efficacy, non-toxic nature of implants, stability of titanium products, and greater economic feasibility are all contributing to this. 

 

Regional Segment Analysis of the Sternal Closure Systems Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

North America led the market with the largest market share during the forecast period

 

Get more details on this report -

Request Free Sample PDF

North America is influencing significant market growth over the forecast period due to growing collaboration efforts made by key companies to enhance their product offerings and guarantee high-quality standards. Furthermore, the high prevalence of heart disease in North America might also be considered a key contributing factor. For instance, a survey by the CDC found that 28.1 million Americans have been diagnosed with a heart disorder, such as valvular heart disease or cardiac arrest.

 

Aisa Pacific is expected to experience high revenue market growth during the forecast period due to as major firms focus on commercializing their products at a reasonable cost and broadening their geographic footprint throughout the world. Additionally, it is projected that increasing infrastructure investment, an increase in cardiovascular disease awareness, and an increase in healthcare spending will all raise the market demand for sternal closure devices in the region.

 

Competitive Analysis

The report offers the appropriate analysis of the key organizations/companies involved within the global Sternal Closure Systems market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

• Zimmer Biomet
• Johnson & Johnson
• B. Braun Melsungen AG
• Orthofix Holdings, Inc.
• GE Healthcare
• KLS Martin Group
• A&E Medical Corporation
• Jace Medical, LLC
• Acute Innovations
• Abyrx, Inc.
• Kinamed Incorporated

 

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

 

Recent Development

• In February 2022, the startup CircumFix Solutions, based in Tennessee, created a sternal closure device to enhance patient recovery following open chest surgery. Evonik Venture Capital recently announced its investment in the company. Evonik's implant-grade polyetheretherketone (PEEK) was employed in the device to achieve improved results.

 

• In June 2021, The Valkyrie Thoracic Fixation System was introduced by Able Medical Devices. After open heart surgery, it is the first single-use radiolucent plating device created to span the osteotomy and close the sternum.

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the Global Sternal Closure Systems Market based on the below-mentioned segments:

 

Global Sternal Closure Systems Market, By Product

• Closure Devices
• Bone Cement

 

Global Sternal Closure Systems Market, By Procedure

• Median Sternotomy
• Hemisternotomy
• Bilateral Thoracosternotomy
• Others

 

Global Sternal Closure Systems Market, By Material

• Titanium
• Polyether Ether Ketone (PEEK)
• Stainless Steel
• Others

 

Sternal Closure Systems Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico

• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa