• Blog
  • Sternal Closure Systems Market Growth Analysis | 2022-2028

    Sternal Closure Systems Market Growth Analysis | 2022-2028

    Sternal Closure Systems Market Growth Analysis | 2022-2028
    Report code - SR1624 Delivery - 2 Weeks
    Sternal Closure Systems Market Size, Share, Trend, Forecast, & Industry Analysis: See more...

    "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".

    Sternal-Closure-Systems-Market-Size

    Wish to get a Free Sample? Register Here

    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.

    Sternal Closure Systems Market Report Overview

    Market Size in 2028

    USD 3.28 Billion

    Market Size in 2021

    USD 2.28 Billion

    Market Growth (2022-2028)

    CAGR of 5.12%

    Base Year of Study

    2021

    Trend Period

    2016-2020

    Forecast Period

    2022-2028

     

    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.

    Sternal-Closure-Systems-Market-Snapshot

    Wish to get a free sample? 

    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.

    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.

    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.

    Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    in-depth Analysis of the Service Robotics Market

    How lucrative is the future?

    The market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    Research Methodology

    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.

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

    Custom Research:

    Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    The sternal closure systems market size is expected to reach USD 3.28 billion in 2028.

    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.

    The sternal closure systems market is expected to grow at 5.12% CAGR during 2022-2028.

    The closure device segment is expected to register significant growth in the market in the next five years.

    DePuy Synthes (US), Zimmer Biomet (US), KLS Martin Group (Germany), Acute Innovations LLC (US), Orthofix (US), A&E Medical (US), Praesidia Srl (Italy), Kinamed Inc (US), JACE Med-ical (US), Abyrx, Inc (US), Dispomedica GmbH (Germany), and Waston Medical Corporation (China) are among the key players in the market.

    North America accounted for the largest share in the market in 2021.