Sternal Closure Systems Market Size, Share & Trends Analysis Report By Type (Closure Devices, Bone Cement), By Procedure, By Material, By Region, And Segment Forecasts, 2024 - 2030
Sternal Closure Systems Market Growth & Trends
The global sternal closure systems market size is expected to reach USD 3.85 billion by 2030, expanding at a CAGR of 5.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market is driven by the growing number of surgeries undertaken to treat complex cardiovascular problems. For instance, according to the data published by the Centers for Disease Control and Prevention (CDC), around 30.3 million or 12.1% of the U.S. adults were diagnosed with heart disease in 2018.
The National Health Interview Survey conducted by Centers for Disease Control and Prevention (CDC) in 2016 concluded that 28.1 million people were diagnosed with heart-related disorders, including valvular heart disease and cardiac arrest. Moreover, technological advancements such as Talon systems, double sternal wires, and favorable reimbursement criteria would propel growth in the near future.
Mergers & acquisitions, new product development, and geographical expansion are key sustainability strategies adopted by players in the sternal closure systems market. For instance, in December 2020, Zimmer Biomet Holdings Inc., acquired A&E Medical Corporation to gain access to its sternal closure device portfolio, ensuring long-term growth.
Sternal Closure Systems Market Report Highlights
- North America dominated the market in 2023, attributed to the presence of a large number of players and high competition rivalry in the market
- By product, the closure devices segment held a majority share of the global market in 2023, owing to the introduction of technologically advanced clips and wires globally, and favorable reimbursement regulations offered by developed regions such as North America and Europe
- By procedure, the median sternotomy segment dominated the market in 2023, as it is among the most frequently performed osteotomies worldwide
- By material, the PEEK segment is anticipated to post significant growth over the coming years due to several benefits offered by the material, including biocompatibility, chemical resistance, end-product purity, high-temperature resistance, and thermoformable nature
- Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Research Methodology
- 1.3. Information Procurement
- 1.4. Information or Data Analysis
- 1.5. Market Formulation & Validation
- 1.6. Model Details
- 1.7. List of Data Sources
- Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
- Chapter 3. Sternal Closure Systems Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Parent Market Outlook
- 3.2. Market Dynamics
- 3.2.1. Market Driver Analysis
- 3.2.1.1. Rise in the number of cardiothoracic surgical procedure
- 3.2.1.2. Increasing geriatric population susceptible to chronic cardiovascular conditions
- 3.2.1.3. Rapid technological advancement due to high R&D
- 3.2.1.4. Favorable reimbursement scenario
- 3.2.2. Market Restraint Analysis
- 3.2.2.1. High cost of postoperative morbidity and mortality
- 3.3. Sternal Closure Systems Market Analysis Tools
- 3.3.1. Industry Analysis - Porter’s
- 3.3.1.1. Bargaining power of suppliers
- 3.3.1.2. Bargaining power of buyers
- 3.3.1.3. Threat of substitutes
- 3.3.1.4. Threat of new entrants
- 3.3.1.5. Competitive rivalry
- 3.3.2. PESTEL Analysis
- 3.3.2.1. Political & Legal Landscape
- 3.3.2.2. Economic and Social Landscape
- 3.3.2.3. Technological landscape
- Chapter 4. Sternal Closure Systems Market: Type Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Sternal Closure Systems Market: Type Movement Analysis
- 4.3. Sternal Closure Systems Market by Type Outlook (USD Million)
- 4.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
- 4.5. Closure Devices
- 4.5.1. Closure Devices Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.6. Bone Cement
- 4.6.1. Bone Cements Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- Chapter 5. Sternal Closure Systems Market: Procedure Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Sternal Closure Systems Market: Procedure Movement Analysis
- 5.3. Sternal Closure Systems Market by Procedure Outlook (USD Million)
- 5.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
- 5.5. Median Sternotomy
- 5.5.1. Median Sternotomy Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.6. Hemisternotomy
- 5.6.1. Hemisternotomy Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.7. Bilateral Thoracosternotomy
- 5.7.1. Bilateral Thoracosternotomy Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.8. Others
- 5.8.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- Chapter 6. Sternal Closure Systems Market: Material Type Estimates & Trend Analysis
- 6.1. Segment Dashboard
- 6.2. Sternal Closure Systems Market: Material Type Movement Analysis
- 6.3. Sternal Closure Systems Market by Material Type Outlook (USD Million)
- 6.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
- 6.5. Stainless Steel
- 6.5.1. Stainless Steel Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6. Polyether Ether Ketone (PEEK)
- 6.6.1. Polyether Ether Ketone (PEEK) Surgery Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.7. Titanium
- 6.7.1. Titanium Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.8. Others
- 6.8.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- Chapter 7. Sternal Closure Systems Market: Regional Estimates & Trend Analysis
- 7.1. Regional Dashboard
- 7.2. Regional Chapter Sternal Closure Systems Market movement analysis
- 7.3. Sternal Closure Systems Market: Regional Estimates & Trend Analysis by Type, Procedure and Material Type
- 7.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
- 7.5. North America
- 7.5.1. North Sternal Closure Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.5.2. U.S.
- 7.5.2.1. Key Country Dynamics
- 7.5.2.2. Competitive Scenario
- 7.5.2.3. Regulatory Framework
- 7.5.2.4. Reimbursement scenario
- 7.5.2.5. U.S. Sternal Closure Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.5.3. Canada
- 7.5.3.1. Key Country Dynamics
- 7.5.3.2. Competitive Scenario
- 7.5.3.3. Regulatory Framework
- 7.5.3.4. Reimbursement scenario
- 7.5.3.5. Canada Sternal Closure Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.5.4. Europe
- 7.5.5. Europe Sternal Closure Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.5.6. UK
- 7.5.6.1. Key Country Dynamics
- 7.5.6.2. Competitive Scenario
- 7.5.6.3. Regulatory Framework
- 7.5.6.4. Reimbursement scenario
- 7.5.6.5. UK Sternal Closure Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.5.7. Germany
- 7.5.7.1. Key Country Dynamics
- 7.5.7.2. Competitive Scenario
- 7.5.7.3. Regulatory Framework
- 7.5.7.4. Reimbursement scenario
- 7.5.7.5. Germany Sternal Closure Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.5.8. France
- 7.5.8.1. Key Country Dynamics
- 7.5.8.2. Competitive Scenario
- 7.5.8.3. Regulatory Framework
- 7.5.8.4. Reimbursement scenario
- 7.5.8.5. France Sternal Closure Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.5.9. Italy
- 7.5.9.1. Key Country Dynamics
- 7.5.9.2. Competitive Scenario
- 7.5.9.3. Regulatory Framework
- 7.5.9.4. Reimbursement scenario
- 7.5.9.5. Italy Sternal Closure Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.5.10. Spain
- 7.5.10.1. Key Country Dynamics
- 7.5.10.2. Competitive Scenario
- 7.5.10.3. Regulatory Framework
- 7.5.10.4. Reimbursement scenario
- 7.5.10.5. Spain Sternal Closure Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.5.11. Denmark
- 7.5.11.1. Key Country Dynamics
- 7.5.11.2. Competitive Scenario
- 7.5.11.3. Regulatory Framework
- 7.5.11.4. Reimbursement scenario
- 7.5.11.5. Denmark Sternal Closure Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.5.12. Sweden
- 7.5.12.1. Key Country Dynamics
- 7.5.12.2. Competitive Scenario
- 7.5.12.3. Regulatory Framework
- 7.5.12.4. Reimbursement scenario
- 7.5.12.5. Sweden Sternal Closure Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.5.13. Norway
- 7.5.13.1. Key Country Dynamics
- 7.5.13.2. Competitive Scenario
- 7.5.13.3. Regulatory Framework
- 7.5.13.4. Reimbursement scenario
- 7.5.13.5. Norway Sternal Closure Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.6. Asia Pacific
- 7.6.1. Asia Pacific Sternal Closure Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.6.2. Japan
- 7.6.2.1. Key Country Dynamics
- 7.6.2.2. Competitive Scenario
- 7.6.2.3. Regulatory Framework
- 7.6.2.4. Reimbursement scenario
- 7.6.2.5. Japan Sternal Closure Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.6.3. China
- 7.6.3.1. Key Country Dynamics
- 7.6.3.2. Competitive Scenario
- 7.6.3.3. Regulatory Framework
- 7.6.3.4. Reimbursement scenario
- 7.6.3.5. China Sternal Closure Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.6.4. India
- 7.6.4.1. Key Country Dynamics
- 7.6.4.2. Competitive Scenario
- 7.6.4.3. Regulatory Framework
- 7.6.4.4. Reimbursement scenario
- 7.6.4.5. India Sternal Closure Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.6.5. South Korea
- 7.6.5.1. Key Country Dynamics
- 7.6.5.2. Competitive Scenario
- 7.6.5.3. Regulatory Framework
- 7.6.5.4. Reimbursement scenario
- 7.6.5.5. South Korea Sternal Closure Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.6.6. Australia
- 7.6.6.1. Key Country Dynamics
- 7.6.6.2. Competitive Scenario
- 7.6.6.3. Regulatory Framework
- 7.6.6.4. Reimbursement scenario
- 7.6.6.5. Australia Sternal Closure Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.6.7. Thailand
- 7.6.7.1. Key Country Dynamics
- 7.6.7.2. Competitive Scenario
- 7.6.7.3. Regulatory Framework
- 7.6.7.4. Reimbursement scenario
- 7.6.7.5. Thailand Sternal Closure Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.7. Latin America
- 7.7.1. Latin America Sternal Closure Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.7.2. Brazil
- 7.7.2.1. Key Country Dynamics
- 7.7.2.2. Competitive Scenario
- 7.7.2.3. Regulatory Framework
- 7.7.2.4. Reimbursement scenario
- 7.7.2.5. Brazil Sternal Closure Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.7.3. Mexico
- 7.7.3.1. Key Country Dynamics
- 7.7.3.2. Competitive Scenario
- 7.7.3.3. Regulatory Framework
- 7.7.3.4. Reimbursement scenario
- 7.7.3.5. Mexico Sternal Closure Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.7.4. Argentina
- 7.7.4.1. Key Country Dynamics
- 7.7.4.2. Competitive Scenario
- 7.7.4.3. Regulatory Framework
- 7.7.4.4. Reimbursement scenario
- 7.7.4.5. Argentina Sternal Closure Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.8. Middle East & Africa
- 7.8.1. Middle East & Africa Sternal Closure Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.8.2. South Africa
- 7.8.2.1. Key Country Dynamics
- 7.8.2.2. Competitive Scenario
- 7.8.2.3. Regulatory Framework
- 7.8.2.4. Reimbursement scenario
- 7.8.2.5. South Africa Sternal Closure Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.8.3. Saudi Arabia
- 7.8.3.1. Key Country Dynamics
- 7.8.3.2. Competitive Scenario
- 7.8.3.3. Regulatory Framework
- 7.8.3.4. Reimbursement scenario
- 7.8.3.5. Saudi Arabia Sternal Closure Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.8.4. UAE
- 7.8.4.1. Key Country Dynamics
- 7.8.4.2. Competitive Scenario
- 7.8.4.3. Regulatory Framework
- 7.8.4.4. Reimbursement scenario
- 7.8.4.5. UAE Sternal Closure Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.8.5. Kuwait
- 7.8.5.1. Key Country Dynamics
- 7.8.5.2. Competitive Scenario
- 7.8.5.3. Regulatory Framework
- 7.8.5.4. Reimbursement scenario
- 7.8.5.5. Kuwait Sternal Closure Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- Chapter 8. Competitive Landscape
- 8.1. Market Participant Categorization
- 8.2. Key Company Profiles
- 8.2.1. Johnson & Johnson
- 8.2.1.1. Company overview
- 8.2.1.2. Financial performance
- 8.2.1.3. Type benchmarking
- 8.2.1.4. Strategic initiatives
- 8.2.2. Zimmer Biomet
- 8.2.2.1. Company overview
- 8.2.2.2. Financial performance
- 8.2.2.3. Type benchmarking
- 8.2.2.4. Strategic initiatives
- 8.2.3. KLS Martin Group
- 8.2.3.1. Company overview
- 8.2.3.2. Financial performance
- 8.2.3.3. Type benchmarking
- 8.2.3.4. Strategic initiatives
- 8.2.4. Orthofix Medical Inc.
- 8.2.4.1. Company overview
- 8.2.4.2. Financial performance
- 8.2.4.3. Type benchmarking
- 8.2.4.4. Strategic initiatives
- 8.2.5. Kinamed Incorporated
- 8.2.5.1. Company overview
- 8.2.5.2. Financial performance
- 8.2.5.3. Type benchmarking
- 8.2.5.4. Strategic initiatives
- 8.2.6. B. Braun SE
- 8.2.6.1. Company overview
- 8.2.6.2. Financial performance
- 8.2.6.3. Type benchmarking
- 8.2.6.4. Strategic initiatives
- 8.2.7. Acumed LLC
- 8.2.7.1. Company overview
- 8.2.7.2. Financial performance
- 8.2.7.3. Type benchmarking
- 8.2.7.4. Strategic initiatives
- 8.2.8. ABYRX, INC.
- 8.2.8.1. Company overview
- 8.2.8.2. Financial performance
- 8.2.8.3. Type benchmarking
- 8.2.8.4. Strategic initiatives
- 8.2.9. IDEAR S.R.L
- 8.2.9.1. Company overview
- 8.2.9.2. Financial performance
- 8.2.9.3. Type benchmarking
- 8.2.9.4. Strategic initiatives
- 8.2.10. ABLE MEDICAL DEVICES
- 8.2.10.1. Company overview
- 8.2.10.2. Financial performance
- 8.2.10.3. Type benchmarking
- 8.2.10.4. Strategic initiatives
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