Sternal Closure Systems Market Growth Analysis | 2022-2028

"The Sternal Closure Systems Market is projected to grow from USD 2.28 billion in 2021 to USD 3.28 billion by 2028 at a CAGR of around 5.12% during the forecast period of 2022-2028".

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Market Dynamics

Introduction 

Sternal closure systems are medical devices used to close the sternum (breastbone) after it has been surgically divided during procedures such as open-heart surgery or thoracic surgery. These systems are designed to securely hold the sternum together during the initial healing phase, providing stability and support to promote proper bone fusion and overall healing.

Market Drivers

The sternal closure systems market has been pushed by technological developments in sternotomy methods. Since the early 1960s, median sternotomy operations have been the gold standard for opening the heart and lungs for cardiothoracic and cardiopulmonary treatments. The use of sophisticated sternal closure tools and methods, such as titanium and surgical-grade stainless steel, has increased dramatically since 2010. Clinical benefits of these sternal closure devices, which are titanium and stainless steel-based, include less discomfort, a decreased chance of sternal dehiscence, a decreased risk of wound infections, and a decreased risk of mediastinitis.

Market Challenges

The demand for doctors is expected to grow twofold from 2013 to 2025, driven by a shortage of skilled OR technicians and surgeons. The shortage is divided evenly between primary care physicians and specialists like surgeons, cardiologists, and oncologists. The growing geriatric population necessitates skilled professionals for interventional procedures, and the proper use of sternal closure devices requires expertise.

COVID-19 Impact 

The COVID-19 outbreak posed significant challenges across verticals worldwide. It impacted the growth of the sternal closure systems market negatively as supply disruptions affected product availability in the market.

Segment Analysis

Product Trend

"Closure devices segment accounted for the largest market share of more than 70.7% in 2021" 

By product, the sternal closure systems market has been bifurcated into closure devices and bone cement. The closure devices segment accounted for the largest market share in 2021 and is projected to register significant growth during the review period. Closure devices include wire, plate & screw, clips, and cable.

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Regional Trend

 "North American market accounted for the largest market share of more than 35% in 2021"

By region, the North American market accounted for the largest market share in 2021 and is projected to grow at a robust CAGR during the review period. This can be attributed to the established presence of the healthcare industry coupled with the expanding geriatric populace and the presence of key market players such as DePuy Synthes (US) and Zimmer Biomet (US). The market growth in Asia-Pacific is expected to be driven by increasing spending on healthcare infrastructure development coupled with the rising number of surgical procedures.

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Key Players

The following are the key players in the Sternal Closure Systems Market (arranged alphabetically)

• Acute Innovations LLC (US)
• Abyrx, Inc (US)
• A&E Medical (US)
• Dispomedica GmbH (Germany)
• DePuy Synthes (US)
• JACE Medical (US)
• Kinamed Inc (US)
• KLS Martin Group (Germany)
• Praesidia Srl (Italy)
• Orthofix (US)
• Waston Medical Corporation (China)
• Zimmer Biomet (US)

Note: The above list does not necessarily include all the top players in the market.

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This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

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