Global Sternal Closure Systems
Market Report
2024
The Global Sternal Closure System market was valued at USD 2,232.1 million in 2022 and is projected to reach USD 3,366.7 million by 2030, registering a CAGR of 5.3% for the forecast period 2023- 2030
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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The Global Sternal Closure System market was valued at USD 2,232.1 million in 2022 and is projected to reach USD 3,366.7 million by 2030, registering a CAGR of 5.3% for the forecast period 2023- 2030
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Sternal Closure Systems Market Sales Revenue 2022 | $ 2 Million |
Global Sternal Closure Systems Market Sales Revenue 2030 | $ 3 Million |
Global Sternal Closure Systems Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 5.3% |
Market Split by Type |
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Market Split by Procedure |
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Market Split by Material |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Sternal Closure Systems Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
A sternal closure system is designed for the fixation and stabilization of the sternum after a sternotomy. A sternotomy is a procedure where the chest cavity is surgically opened to access the organ beneath the breast bone or sternum. This cardiac surgery is performed to treat and manage cardiovascular disease. The sternal closure system consists of a biocompatible closure system made from polyether-ketone (PEEK) materials surrounding the sternum through intercostal space and offering a large implant-to-bone contact.
The sternal closure technique is used to fix, and stabilize the chest cavity and sternum, during a cardiac surgical procedure. This sternal closure system is employed in different cardiac surgery procedures. The application of different and advanced techniques offers accurate results regarding the rate of sternal wound infection and improved healing in cardiac patients. The sternal closure technique is associated with several complications such as instability of the sternum, dissection, mediastinitis, and bone destruction. This complication causes death after heart surgery. Thus, technological development or advancement in techniques improves the treatment of a patient.
The manufacturer employs several techniques, and technological advancement in sternotomy techniques drives the market. For instance, the use of Zip fix sternum technology reduced the repeated operation instead of standard equipment. The Zip fix sternum closure is made from biocompatible PEEK materials. This closure technique uses cable ties wrapped around the open sternum with a needle. The removal of the needle tightens the cable ties. The use of this technology during cardiac surgeries in Karolinska University Hospital, Sweden improves patient treatment and prevent mortality and further complication in a patient.
Sternotomy surgeries use a sternum closure system to stabilize the sternum. The increase in cases of COVID-19 delayed the surgical procedure of patients associated with heart-related conditions. The increase in cases of COVID-19 delayed sternotomy surgeries in hospitals. These delayed surgeries cause a reduction in the sale of the sternum closure system, which is expected to inhibit the growth of the sternum closure system market.
The COVID-19 cases had a negative impact on the market, as sternum closure systems were in less demand during the pandemic. The sternotomy surgeries were delayed during the pandemic, as it was a less priority for a healthcare professionals during the pandemic. Furthermore, the supply-chain disruption, results in challenges in the availability of devices. Moreover, the COVID-19 patients associated with the risk of heart-related conditions needed monitoring and medications, but the demand for sternum closure devices was less during the pandemic. This factor had a moderately negative impact on the growth of the sternum closure market.
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The key market players included in the report are Zimmer Biomet, Medical Device Business Services, Inc, Arthrex, Inc., Medicon eG, KLS Martin Group, Acumed LLC, Evonik Venture Capital, and others. These companies are striving to come up with new strategies such as joint ventures, mergers & acquisitions, and joint ventures to expand their footprints across the globe.
Evonik Venture Capital has done an R&D investment in CircumFix Solution to develop a new sternal closure system. The launch of the new sternal closure system enhances the product portfolio of the company and expanded its presence in the market.
Zimmer Biomet has engaged in the acquisition of A&E Medical Corporation, to expand the product portfolio of sternal closure products in the market. This acquisition has added sternal closure devices to a portfolio, which penetrates the portfolio in emerging regions.
Top Companies Market Share in Sternal Closure Systems Industry: (In no particular order of Rank)
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The Asia-Pacific region accounts for a significant share of the market, owing to the rise in cardiovascular surgeries conducted in hospitals. The increase in the number of surgeries conducted increases the usage of sternal closure systems. Osaka University in Japan conducted more than 1,300 cardiovascular surgeries in 2020, at a hospital. This hospital uses sternum closure devices for patients associated with cardiovascular surgeries to reduce further complications in patients. Thus, the rise in surgeries, and the upgradation in the hospital infrastructure, drive the sternum closure market in Asia Pacific.
The current report Scope analyzes Sternal Closure Systems Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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Global Sternal Closure Systems Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Sternal Closure Systems Industry growth. Sternal Closure Systems market has been segmented with the help of its Type, Procedure Material, and others. Sternal Closure Systems market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Based on present and future trends, the market size is estimated from 2019 to 2031. Moreover, study also provides quantitative and qualitative analysis of each type to understand the driving factors for the fastest growing type segment for Sternal Closure Systems market.
Type of Sternal Closure Systems analyzed in this report are as follows:
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The median sternotomy accounts for a significant share of the market, owing to an increase in demand for median sternotomy for cardiothoracic surgeries. The median sternotomy involves an incision made in the thorax cavity. The incision also allows access to both pleural spaces and makes it useful for thoracic operation. Median sternotomy is a preferred technique, which uses wire approximation techniques for a vast majority of patients. This procedure is useful in high-risk patients with complications. Thus, an increase in cardiac surgeries, increases the demand for median sternotomy, which further, boosts its demand in the market.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Sternal Closure Systems market report 2024 Edition by contacting our team.
Research Associate at Cognitive Market Research
Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the Pharmaceutical industry. With a keen analytical mind and a deep passion for healthcare advancements, she has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services.
Anushka is a highly motivated and detail-oriented research analyst with a passion for uncovering valuable insights from data. Her expertise in Market Research and business intelligence has equipped her with the skills necessary to analyze complex information and provide strategic recommendations. She thrives in dynamic environments where her analytical abilities and research expertise can contribute to informed decision-making for businesses
I played a pivotal role in conducting market research and competitive analysis. I have a demonstrated ability to synthesize diverse data sources, identify trends, and translate findings into actionable recommendations. My collaborative approach facilitated effective communication of insights, fostering a data-driven culture within the organization. I am committed to maintaining excellence through continuous learning and staying ahead of industry trends. Regular participation in conferences and professional development opportunities keeps my skills sharp and relevant.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Sternal Closure Systems Market is witnessing significant growth in the near future.
In 2023, the Closure Device segment accounted for noticeable share of global Sternal Closure Systems Market and is projected to experience significant growth in the near future.
The Median Sternotomy segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Depuy Synthes, KLS Martin and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Disclaimer:
Type | Closure Device, Wires, Plates, Screws, Others, Bone Cement, Others |
Procedure | Median Sternotomy, Bilateral Sternotomy, Hemisternotomy |
Material | Stainless-steel, PEEK, Titanium |
List of Competitors | Depuy Synthes, Zimmer Biomet, KLS Martin, Acute Innovations, Orthofix, A&E Medical, Idear SRL, Praesidia, Kinamed, Jacemed, Abyrx, Dispomedica, Jeilmed, Wastonchina |
This chapter will help you gain GLOBAL Market Analysis of Sternal Closure Systems. Further deep in this chapter, you will be able to review Global Sternal Closure Systems Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
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Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
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Qualitative Analysis for the North America Market: North America Sternal Closure Systems Market Trends North America Sternal Closure Systems Technological Road Map North America Sternal Closure Systems Market Drivers North America Sternal Closure Systems Market Restraints North America Sternal Closure Systems Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
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Chapter 3 Europe Market Analysis
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Chapter 4 Asia-Pacific Market Analysis
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Chapter 5 South America Market Analysis
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Chapter 6 Middle East and Africa Market Analysis
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Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
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Chapter 11 Market Split by Procedure Analysis 2019 -2031
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Chapter 12 Market Split by Material Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Sternal Closure Systems market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Closure Device have a significant impact on Sternal Closure Systems market? |
What are the key factors affecting the Closure Device and Wires of Sternal Closure Systems Market? |
What is the CAGR/Growth Rate of Median Sternotomy during the forecast period? |
By type, which segment accounted for largest share of the global Sternal Closure Systems Market? |
Which region is expected to dominate the global Sternal Closure Systems Market within the forecast period? |
Segmentation Level Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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