Polaris Market Research recently published [115+ Pages] research report on “Sternal Closure Systems Market Share, Size, Trends, Industry Analysis Report, By Product (Closure Devices, Bone Cement), By Material (Titanium, PEEK, Stainless Steel), By Procedure (Median Sternotomy, Hemisternotomy, Bilateral Thoracosternotomy), By Region; Segment Forecast, 2021 – 2028” in its research database.
According to the research report, the global sternal closure systems market size & share was valued at USD 1.72 billion in 2020 and is expected to reach USD 2.68 Billion by 2028, growing at a CAGR of 5.9% during the forecast period.
What is Sternal Closure Systems? How Big is Sternal Closure Systems Market Size & Share?
Sternal closure systems are used for fracture fixation and stabilization of the anterior chest wall. These systems promote amalgamation with the help of various techniques. It is mainly utilized for closing the breastbone after surgical procedures of the heart and the thoracic cavity. Also, it helps in enhancing bone stability, decreasing pain, and stimulating healing.
Moreover, sternal closure devices are also known as orthopedic devices. This is a new technique; it contains titanium hooks and wires that are applied on parasternal. A rising number of surgeries across the world is anticipated to propel the sternal closure systems share over the foreseen period. The increasing frequency of cardiovascular diseases globally and rising open heart surgeries are predicted to boost the industry.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Key Highlights of the Report
- A comprehensive analysis, which includes an assessment of the parent market
- Evaluation of growth opportunities in key segments and regions
- Crucial changes in industry dynamics
- Detailed company profiling of leading players in the market
- Current, historical, and projected size of the market by both value and volume
- Reliable industry value chain and supply chain analysis
- Recommendations to companies for strengthening their presence in the industry
Some of the Top Market Players Are:
- Zimmer Biomet
- Braun Melsungen AG
- GE Healthcare
- A&E Medical Corporation
- Jace Medical LLC
- KLS Martin Group
- Orthofix Holdings Inc.
- Acute Innovations
- Abyrx Inc.
- Johnson & Johnson
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Growth Driving Factors
- Rising number of cardiac surgeries propelling the market
The sternal closure systems market size is uplifting due to the rising geriatric population going through open-heart surgery via median sternotomy. The growing number of cardiac surgeries across the world is expected to fuel the market. Also, deficiency of exercise and poor diet magnifies the risk of cardiovascular disease, which is anticipated to accelerate the sternal closure systems industry over the assessment period.
Furthermore, rising government initiatives toward the healthcare infrastructure are predicted to uplift the market over the foreseen period. Unhealthy lifestyle such as smoking and alcohol consumption are raising the frequency of heart diseases across the globe and is expected to boost the sternal closure systems market demand. Also, advancement in technology is the major factor responsible for the enhancement of the market.
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- In 2022, Evonik Venture Capital invested in CircumFix Solutions, a Tennessee which is US based startup that has developed a new sternal closure device made with a high-performance polymer that closes and stabilizes the sternum after surgery.
- In 2019 (NIH), the Use of new cannulated screws for primary sternal closure in high-risk patients was determined to be safe for the patients. The new cannulated screws were determined to be effective in stabilization, inexpensive, reproducible, and cause no morbidity.
- The closure devices market segment accounted for the largest market share
On the basis of product, the closure devices market segment dominated the market in 2021. The factors responsible for the market’s dominance are product launches coupled with rising per capita expenditure in both evolved and emerging economies. Also, bone cement devices have shown advantages such as a reduction in postoperative complications and infections, also the fastest recovery period.
- Titanium material dominated the market
Based on material, the sternal closure systems market segmentations are classified into titanium, polyether ether ketone (peek), stainless steel, and others. Out of all, the titanium material segment accounted for a considerable market share in 2020. The segment is dominated due to its non-ferromagnetic property, which authorizes patients with titanium implants to be inspected safely under an MRI scan.
- The median sternotomy procedure is considered the highest market share
On the basis of procedure, the median sternotomies dominated the market. The operation allows direct examination of the lungs, heart, and related tissues during coronary artery bypass surgery, and heart valve replacement surgery which is responsible for the region’s dominance.
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Sternal Closure Systems Market: Report Scope
|Market Outlook for 2028||USD 2.68 Billion|
|Market Size 2020 Value||USD 1.72 Billion|
|Expected CAGR Growth||5.9% from 2021 – 2028|
|Forecast Year||2021 – 2028|
|Top Market Players||Zimmer Biomet, B. Braun Melsungen AG, GE Healthcare, A&E Medical Corporation, Jace Medical, LLC, KLS Martin Group, Orthofix Holdings, Inc., Acute Innovations, Abyrx, Inc., Johnson & Johnson, and Kinamed Incorporated|
|Segments Covered||By Product, By Material, By Procedure, By Region|
|Customization Options||Customized purchase options are available to meet your research needs. Explore customized purchase options|
- North America is accounted for the significant market share
On a geographical basis, the North American region is considered as the highest market share with a substantial group of patients and firmly established medical insurance programs. Further, the sternal closure systems industry is uplifted by a rise in joint efforts made by various key players to boost their product offerings and maintain high-quality standards.
Moreover, Asia pacific is predicted to grow at a significant rate and is anticipated to maintain its dominance over the assessment period. The region is expected to dominate because the key players are expanding their geographical existence across the globe and focusing on commercializing their products at low prices.
Browse the Detail Report “Sternal Closure Systems Market Share, Size, Trends, Industry Analysis Report, By Product (Closure Devices, Bone Cement), By Material (Titanium, PEEK, Stainless Steel), By Procedure (Median Sternotomy, Hemisternotomy, Bilateral Thoracosternotomy), By Region; Segment Forecast, 2021 – 2028” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/sternal-closure-systems-market
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Key Questions Answered in The Report Include:
- What is the current market size in various regions with promising growth opportunities?
- What will the microplate systems market size and growth rate be in the forecast period?
- What are the key factors driving the industry?
- What are the business growth strategies adopted by developed and developing regions?
- What are the key outcomes of the five forces analysis?
- Who are the leading players active in the market?
- What’s the competition in this industry, both company, and country-wise?
Polaris Market Research has segmented the sternal closure systems market report based on product, material, procedure and region:
By Product Outlook
- Closure Devices
- Sternal Closure Wires
- Sternal Closure Plates and Screws
- Sternal Closure Clips
- Sternal Closure Cables
- Bone Cement
By Material Outlook
- Polyether Ether Ketone (PEEK)
- Stainless Steel
By Procedure Outlook
- Median Sternotomy
- Bilateral Thoracosternotomy
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Spain, Netherlands, Austria)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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