Sternal Closure Systems Market, By Product (Wires, Plates and Screws, Bone Cement, Cable, Clips, Others), Procedure (Median Sternotomy, Hemisternotomy, Bilateral Thoracosternotomy), Material (Stainless Steel, Polyether Ether Ketone, Titanium), Fixation Techniques (Wiring Fixation Techniques, Plate-Screw Systems, Interlocking Systems, Cementing, Vacuum Assisted Closure), End Users (Hospitals, Specialized Surgical Centres) and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).
Sternal Closure Systems Market Overview
The global Sternal Closure Systems market size was estimated at USD 2.1 billion in 2023 and is projected to reach USD 3.17 billion in 2030 at a CAGR of 5.3% during the forecast period 2023-2030.
Sternal closure systems refer to the systems that are used in the fixation and stabilization of fractures of the anterior chest wall. The systems widely utilized in sternal fixation following sternal reconstructive surgical procedures for the purpose of promoting fusion.
The growth of the industry is driven by the increase in cardiac and thoracic surgeries, the introduction of innovative sternal closure systems and the increase in the number of elderly people worldwide. In addition, median sternotomy provides easy and quick access to heart valves and blood vessels, making it one of the most feasible sternal closure procedures.
The widespread use of innovative closure techniques due to the increase in the number of cardiothoracic surgical procedures can also be explained by the increase in the number of elderly people undergoing open heart surgery via median antrectomy. Because of its simplicity and rapid access to the valves and blood vessels, the median sternotomy remained the most commonly used method to expose the heart cavity. Accelerating technological improvements, including the use of biocompatible polymers such as polyether ether ketone (PEEK) and kryptonite bone cement, as well as pre-sternotomy plates and the emergence of minimally invasive median sternotomy procedures, are also likely to drive the expansion of the industry. The demand for surgical instruments has increased dramatically due to the increase in the number of surgical operations worldwide. In addition, the older population is at greater risk of cardiovascular disease due to poor diet and lack of exercise.
In addition, due to the increase in non-communicable diseases and serious injuries, developing countries also spend significantly on public medical infrastructure, which in turn significantly increases the number of surgical procedures here.
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COVID-19 significantly affected the growth of the sternal closure system market due to strict lockdown regulations and shortage of sternal closure products in the early stages of the pandemic. Healthcare providers were also working with COVID-19 patients, access was limited to primary care, and the temporary closure of cardiology centers severely limited sternal procedures. According to a BMC study published in March 2021, a global study showed a 50% reduction in cardiac surgery during the pandemic and a 50% reduction in cardiac and intensive care beds in 2020. So, the impact is significant, cardiac surgery also had a significant impact on the sternal closure system, which contributed to the growth of the market.
Delvens Industry Expert's Standpoint
The pandemic had a considerable impact on businesses globally, with nations like India and China bearing the brunt of the virus's outbreak. Yet The Closure Devices industry dominated the global sternal closure systems market in 2021 and is anticipated to maintain its dominance throughout the forecast period. In 2021, the titanium devices had a sizable market share and are anticipated to increase at the fastest rate throughout the projection period. In 2021, North America dominated the global sternal closure systems market due to the presence of leading companies and the high prevalence of CVDs such as cardiac arrest and valvular heart disease in the zone.
Key Findings
- The product segment is divided into closure devices and bone cement, with the former expected to maintain its dominant position in the industry; It also contributed the largest share of the revenue, 60% in 2022. The main drivers of that higher share are the introduction of new parts and the increase in surgical costs per capita in both developed and developing economies. Compared to bone cement, these devices had advantages such as reduced postoperative complications and infections. In addition, they have shown that patients recover faster. Moreover, this category is driven by the efforts of key players by introducing new technologies and products for breast closure.
- The procedure segment is divided into hemisternotomy, bilateral thoracosternotomy, median sternotomy, and others. Of these, mediasteronotomy accounted for the largest share, approximately 55% in 2022. This procedure is the most common osteotomy in the world to allow easy access to the heart, lungs and surrounding structures during heart valve surgery and coronary artery bypass grafting. This is because it reduces the likelihood of problems such as skeletal complications, hardware problems including wire rotation or displacement; and postoperative infections. The incision allows access to both pleural spaces, making it useful for several thoracic procedures, including sternal goitre and esophagectomy.
- The material segment is further bifurcated into stainless steel, polyether ketone and titanium. The titanium material dominated the demand for sternal closure systems, accounting for the majority of sales. Titanium's superiority can be attributed to its corrosion resistance, ability to efficiently enter human bones, and biocompatibility. Furthermore, titanium's non-ferromagnetic property, which enables patients with titanium implants to be examined safely under an MRI scan, is boosting the material's market penetration. Besides that, the high effectiveness, non-toxic quality, and reliability of titanium materials, and enhanced economic viability and profitability for innovative titanium clips and plates in both emerging and developed countries, are expected to boost the adoption of titanium-based sternal closure systems.
- The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. North America is estimated to account for the largest market share during the forecast period. With a large group of patients and well-established medical insurance programs, North America accounted for the largest significant market share. Additionally, the market for sternal closure systems is being fueled by an increase in joint efforts made by several key players to enhance their product offerings and maintain high-quality standards.
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Sternal Closure Systems Market Regional Analysis
North America to Dominate the Market
- North America is estimated to account for the largest market share during the forecast period because of the prevalence of heart-related disorders such as cardiac arrest and valvular heart disease within the region.
Sternal Closure Systems Market Competitive Landscape
- Johnson & Johnson
- DePuy Synthes
- Zimmer Biomet Holdings (A&E Medical)
- KLS Martin Group
- Stryker
- Acumed, LLC (Colson Medical, LLC)
- Figure 8 Surgical
- IDEAR S.R.L
- Praesidia SRL
- Kinamed Incorporated
- Jace Medical
- B Braun SE
- Orthofix Holdings Inc
- Abyrx Inc
- Medical Devices Business Services, Inc.
- Acute Innovations LLC
- A&E Medical Corporation
- Dispomedica
- JEIL MEDICAL CORPORATION
- Teleflex Incorporated
- Changzhou Waston Medical Appliance Co., Ltd
- Sklar Surgical Instruments
Sternal Closure Systems Market Recent Developments
• In 2022, Evonik Venture Capital announced its investment in CircumFix Solutions which is a Tennessee-based startup that developed a sternal closure device to improve patient recovery after open chest surgery. The device used n implant-grade polyetheretherketone (PEEK) from Evonik for better results.
• In 2021, NEOS Surgery presented their implantable surgical device known as STERN Fix which is made of a Carbon Peek Matrix at the 35th European Association for Cardio Thoracic Surgery (EACTS) annual meeting held from 13 to 16 October in Barcelona.
• In 2020, Zimmer Biomet announced the acquisition of A&E Medical for USD 250 Million which enhances Zimmer Biomet's Dental, Spine & Craniomaxillofacial, and Thoracic businesses.
Reasons to Acquire in the Sternal Closure Systems Market
- Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
- Gain authentic and granular data access for the Sternal Closure Systems Market to understand the trends and the factors involved in changing market situations.
- Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
- In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
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Sternal closure systems market are the collection of various products and solutions that are generally used in cardiac/cardiothoracic surgical procedures when carrying out sternotomy.
Sternal closure systems are designed specifically for the sternotomy procedure which sometimes involves removal of a sternum, while post the cardiac surgery the sternum is fixated and closed with the help of stainless-steel wires, with recently the most simplified and effective method of sternal closure being through stainless steel wires.Sternal closure systems market is expected to account to USD 3020.02 million by 2027 expanding at a rate of 5.63% in the forecast period of 2020 to 2027.
This market expansion has been caused by the growing volume of surgical procedures carried out amid increase in the prevalence of individuals suffering from the applicable disorders for these medical systems.Get a Sample Copy of Global Automation Testing Market Report to Understand the Complete Insights @https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-sternal-closure-systems-marketMarket Drivers and Restraints:On the basis of product, the sternal closure systems market has been segmented into closure devices and bone cement.
Closure devices have been sub-segmented as wires, plates & screws, cables and clips.Based on procedure, the sternal closure systems market has been segmented into median sternotomy, hemisternotomy and bilateral thoracosternotomy.Based on material, the sternal closure systems market has been segmented into stainless steel, polyether ether ketone (PEEK), titanium and others.
Others consist of tritium and nitinol.The major players covered in the Benign Sternal Closure Systems Market The major players covered in the report are Zimmer Biomet, Medical Devices Business Services, Inc., KLS Martin Group, Acute Innovations LLC, IDEAR S.R.L, A Medical Corporation, Praesidia, Kinamed Incorporated, JACE Medical, LLC, Dispomedica, ABYRX, INC., JEIL MEDICAL CORPORATION, Changzhou Waston Medical Appliance Co., Ltd., Teleflex Incorporated, B. Braun Melsungen AG, Sklar Surgical Instruments, Péters Surgical among other players domestic and global.
Market share data is available for Global, North America, Europe, Asia-Pacific, Middle East & Africa and South America separately.
