Global Sternal Closure Systems Market Size study & Forecast, by Product (Closure Devices, Bone Cement), by Procedure (Median Sternotomy, Hemi sternotomy, Bilateral Thoraco sternotomy), by Fixation Techniques (Wiring Fixation Techniques, Plate-Screw System

Global Sternal Closure Systems Market Size study & Forecast, by Product (Closure Devices, Bone Cement), by Procedure (Median Sternotomy, Hemi sternotomy, Bilateral Thoraco sternotomy), by Fixation Techniques (Wiring Fixation Techniques, Plate-Screw Systems, Interlocking Systems, Cementing, Vacuum Assisted Closure), by Material (Stainless Steel, Peek, Titanium, Others), by End Users and Regional Analysis, 2023-2030

Global Sternal Closure Systems Market is valued at approximately USD 2216.84 million in 2022 and is anticipated to grow with a healthy growth rate of more than 5.93% over the forecast period 2023-2030. Sternal closure systems are medical devices used to secure the sternum (breastbone) after open-heart surgery. These systems typically involve the use of wires, plates, or other fixation devices to bring the separated halves of the sternum together and promote proper healing and stability. Their primary purpose is to provide support, protect the surgical site, and prevent complications such as sternal dehiscence that could jeopardize the patient's recovery. The growth of the Sternal Closure Systems Market is driven by factors such as the increase in the geriatric population undergoing open-heart surgery, technological advancements in sternotomy techniques, and the rise in the number of surgical procedures. The growing elderly population opting for median sternotomy, which provides easy access to heart valves and vessels, contributes significantly to market expansion.

The growing number of open-heart operations, as well as the rising global elderly population, are important factors driving market expansion. For instance, according to an NIH report published in June 2022, more than 2 million individuals worldwide undergo open-heart surgery each year to treat various cardiac diseases. Furthermore, according to a WHO estimate issued in October 2022, the proportion of the world's population aged 60 and up and expected to rise to 1.4 billion by 2030 and 2.1 billion by 2050. Additionally, rise in the technological advancements and surge in the target patient population provide lucrative opportunities to the market. However, the increasing adoption of minimally invasive surgeries stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Sternal Closure Systems Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the escalating number of open-heart and coronary artery bypass grafting surgeries and the expanding geriatric population, coupled with the presence of advanced healthcare infrastructure. According to the Detroit Medical Center in 2022 reveals that around 500,000 individuals undergo open-heart surgery annually in the United States. Additionally, according to data released by the New Jersey Department of Health in August 2022, there were 17,291 open-heart surgeries performed in New Jersey in 2021. Asia Pacific is expected to grow significantly over the forecast period, owing to key players who are expanding their presence geographically and prioritizing the commercialization of their products at affordable prices. Additionally, the region is experiencing an increase in healthcare expenditure and improved infrastructure facilities, which, along with growing awareness about cardiac diseases and the availability of treatments contribute to further growth in the market.

Major market player included in this report are:
Zimmer Biomet
Medical Devices Business Services, Inc.
KLS Martin Group
Acute Innovations LLC
Stryker

JACE Medical, LLC
Abyrx, Inc.
Jeil Medical Corporation
Changzhou Waston Medical Appliance Co., Ltd.
Teleflex Incorporated

Recent Developments in the Market:
 In May 2022, Granulab (M) Sdn Bhd, a KPower Bhd subsidiary, unveiled Prosteomax, a synthetic bone cement certified halal. Prosteomax's halal certification was confirmed by the Malaysian Islamic Development Department, and the Malaysian Medical Device Authority registered it for use in maxillofacial, orthopaedic, and craniofacial applications.
 In February 2022, Evonik Venture Capital made an investment in CircumFix Solutions, a startup based in Tennessee. CircumFix Solutions has developed an innovative sternal closure device that aids in the recovery of patients following open chest surgery.

Global Sternal Closure Systems Market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Product, Procedure, Fixation Techniques, Material, End Users, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product:
Closure Devices
Bone Cement
By Procedure:
Median Sternotomy
Hemi sternotomy
Bilateral Thoraco sternotomy
By Fixation Techniques:
Wiring Fixation Techniques
Plate-Screw Systems
Interlocking Systems
Cementing
Vacuum Assisted Closure
By Material:
Stainless Steel
Peek
Titanium
Others
By End Users:
Hospitals
Specialized Surgical Centres

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
Zimmer Biomet
Medical Devices Business Services, Inc.
KLS Martin Group
Acute Innovations LLC
Stryker
JACE Medical, LLC
Abyrx, Inc.
Jeil Medical Corporation
Changzhou Waston Medical Appliance Co., Ltd.
Teleflex Incorporated

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