Sternal Closure Systems Market

Report Overview

The global sternal closure systems market was pegged at US$ 3.29 billion in 2021 and is expected to witness a CAGR of 5.3% during the forecast period.

Market Fundamentals

Systems for sternal closure are designed to be used in both stabilizing and fixing fractures of the anterior chest wall. The systems are used to fixate the sternum after sternotomies and sternal reconstructive surgeries to encourage fusion.

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Market Dynamic

One of the main growth drivers for the global sternal closure systems market is the growing geriatric population undergoing open-heart surgery by a median sternotomy. The demand for sternal closure systems is anticipated to increase during the forecast period because of factors including technological advancements in sternotomy techniques, an increase in patient population, an increase in surgical procedures, a large geriatric population undergoing open heart surgery, and an increase in the availability of medical reimbursements in developed countries. In addition, due to an increase in the burden of noncommunicable diseases and injuries, there is an increase in investment in public health care infrastructure in emerging countries. It is believed that this would increase the number of surgeries performed in underdeveloped countries.

However, adoption of minimally invasive surgical procedures negatively hampers the sternal closure systems market growth since it involves lesser hospital stay, less recovery time and complications. 

Market Ecosystem

The global sternal closure systems market has been analyzed from four perspectives: - product, procedure, material, and region. 

Sternal Closure Systems Market by Product

Based on product, the global sternal closure systems market has been subdivided into bone cement and closure devices. The market share that belonged to closure devices was the highest. The primary causes of the segment's predominate share include increased per capita spending in both developed and emerging nations along with variables like product launches. In compared to bone cement, these devices have shown advantages such as a reduction in surgical problems and infections and a quicker recovery time. Additionally, growing initiatives by major market players to launch new methodologies and product lines are probably going to accelerate the segment's growth in the near future.

Sternal Closure Systems Market by Procedure

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Based on procedure, the global sternal closure systems market has been divided into hemisternotomy, bilateral thoracosternotomy, and median sternotomy. The segment with the largest market share was median sternotomies. To easily reach the heart, lungs, and surrounding structures during heart valve replacement surgery and coronary artery bypass surgery, median sternotomies are regularly performed osteotomies throughout the world. Additionally, median sternotomies lessen problems and post-operative infections, which raises demand for them globally.

Sternal Closure Systems Market by Material

Based on the material, the global sternal closure systems market is divided into titanium and   stainless steel. The highest revenue share is anticipated to come from the titanium segment. This dominance is brought about by benefits such titanium's biocompatibility, ability to efficiently join human bones, and resistance to corrosion. Additionally, the non-ferromagnetic quality of these materials, which enables patients with titanium implants to be safely scanned using an MRI, is accelerating their uptake in the market. Furthermore, it is anticipated that the widespread use of titanium-based sternal closure systems will be aided by their high efficacy, non-toxic nature of the implant and stability of the titanium products, greater economic feasibility coupled with increased affordability for the use of advanced titanium clips and plates in both developed and developing regions.

Sternal Closure Systems Market by Region 

Based on region, the global sternal closure systems market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. The region of North America has the greatest market share and is anticipated to maintain its leadership during the projection period. It is also projected that increased cooperative efforts made by major businesses to enhance their product offerings and guarantee high-quality standards will increase demand for systems throughout the region. Furthermore, the high prevalence of heart disease in North America might also be considered a key contributing factor. Additionally, it is anticipated that favorable reimbursement policies will accelerate the market's expansion.

Competitive Landscape

Some of the prominent players operating in the global sternal closure systems market are: -

• GE Healthcare
• Zimmer Biomet
• B. Braun Melsungen AG
• Johnson & Johnson
• A&E Medical Corporation
• Abyrx, Inc.
• DePuy Synthes
• Orthofix International N.V.
• Acute Innovations
• Kinamed Incorporated

Strategic Developments

• In January 2022, Enovik Venture Capital invested in CircumFix Solutions, a startup which has developed a sternal closure device in patients undergoing open chest surgery.
• In December 2020, A&E Medical, a manufacturer of sternal closure devices and a Vance Street Capital portfolio firm, was bought by Zimmer Biomet.

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