Sternal Closure Systems Market Top Players are Acute Innovations and Kinamed Incorporated

San Francisco, Calif., USA, Mar 31, 2023 — /EPR Network/ —

Sternal Closure Systems Industry Overview

The global sternal closure systems market size was estimated to be valued at USD 2.39 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 5.4% from 2022 to 2030. The expanding base of the geriatric population undergoing open-heart surgery through median sternotomy is considered to be one of the primary growth stimulants for the market. The median sternotomy procedure has remained the most popular technique for cardiac exposure to date, owing to easy and quick access to heart valves and vessels.

Sternotomy and sternal closure occur prior to and post-cardiac surgery respectively. Moreover, rapid technological advancements, such as the use of biocompatible polymers including PEEK, tritium, nitinol, pre-sternotomy plates, and the development of minimal invasive median sternotomy procedures, are expected to drive the market growth.

Gather more insights about the market drivers, restraints, and growth of the Global Sternal Closure Systems market

A rise in the number of surgical procedures globally has driven demand for surgical instruments leading to the growth of the market. According to OECD, the estimated surgical procedures in 2012 were around 399,952 in the U.K., which later increased to 491,604 by 2016. Furthermore, lack of exercise and poor nutrition increase the risk of heart diseases in the elderly population. Furthermore, the growing geriatric population, which is more susceptible to chronic CVDs, is leading to an increase in the number of cardiovascular surgical procedures, thereby boosting the demand for sternal closure systems globally.

Moreover, developing countries are focusing on investing in public healthcare infrastructure due to the rise in non-communicable disease burden and injuries, which will further increase the number of surgical procedures in developing regions as well. According to data published by the world bank, in 2015, China’s per capita healthcare expenditure was USD 425.6 accounting for 5.3% of GDP. Furthermore, the Plan of Health China 2030 estimates that by 2020 healthcare spending is expected to account for 6.5% to 7% of its total GDP.

Sedentary lifestyles, high smoking & alcohol consumption, and unhealthy diet are leading to an increase in the prevalence of cardiac diseases globally. This is resulting in a rise in surgical procedures, which in turn, is likely to fuel the adoption of sternal closure systems in surgeries over the coming years. According to a survey conducted by the Centers for Disease Control and Prevention, in 2016, 28.1 million adults in the U.S. were diagnosed with heart disease.

Browse through Grand View Research’s Medical Devices Industry Research Reports.

Heart Closure Devices Market – The global heart closure devices market size was valued at USD 2.36 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 14.9% from 2023 to 2030.

Electrophysiology Devices Market – The global electrophysiology devices market size was valued at USD 6.1 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 11.16% from 2023 to 2030.

Sternal Closure Systems Market Segmentation

Grand View Research has segmented the global sternal closure systems market based on product, procedure, material and region:

Sternal Closure Systems Product Outlook (Revenue, USD Million, 2018 – 2030)

• Closure Devices
• Bone Cement

Sternal Closure Systems Procedure Outlook (Revenue, USD Million, 2018 – 2030)

• Median Sternotomy
• Hemisternotomy
• Bilateral Thoracosternotomy
• Others

Sternal Closure Systems Material Outlook (Revenue, USD Million, 2018 – 2030)

• Titanium
• Polyether Ether Ketone (PEEK)
• Stainless Steel
• Others

Sternal Closure Systems Regional Outlook (Revenue, USD Million, 2018 – 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Market Share Insights

December 2020: Zimmer Biomet Holdings Inc., acquired A&E Medical Corporation to gain access to its sternal closure device portfolio, ensuring long-term growth.

September 2019: DePuy Synthes launched the CONDUIT interbody Platform with EIT cellular titanium technology to expand its product portfolio of degenerative spine diseases.

Key Companies profiled:

Some prominent players in the global sternal closure systems market include:

• Zimmer Biomet
• Johnson & Johnson
• Braun Melsungen AG
• Orthofix Holdings, Inc.
• GE Healthcare
• KLS Martin Group
• A&E Medical Corporation
• Jace Medical, LLC
• Acute Innovations
• Abyrx, Inc.
• Kinamed Incorporated      

Order a free sample PDF of the Sternal Closure Systems Market Intelligence Study, published by Grand View Research.