Sternal Closure Systems Market Size, Share, & Trends Analysis Report By Product (Closure Devices, Bone Cement), Procedure, Material, Regional Forecast, Industry Players, Growth Statistics Report 2023-2030

Market Outlook:

Sternal Closure Systems Market size surpassed USD 2.38 billion  in 2022 and is poised to reach USD 4.18 billion, growing at over 6.21% CAGR between 2023 and 2030. These systems are widely used in various cardiac surgeries to fixate the sternum after the procedure, ensuring proper healing and reducing the risks of complications. The market valuation for sternal closure systems is projected to increase significantly as the number of cardiovascular surgeries continues to rise globally.

• Base Year Value (2022): USD 2.38 billion
• CAGR (2023-2030): 6.21%
• Forecast Year Value (2030): USD 4.18 billion
• Historical Data Period: 2018-2021
• Largest Region: North America
• Forecast Period: 2023-2030

Market Dynamics:

Growth Drivers & Opportunities:

1. Increasing Incidence of Cardiovascular Diseases: The growing prevalence of cardiovascular diseases, such as coronary artery disease and heart failure, is a significant driver for the sternal closure systems market. As the number of patients requiring cardiac surgeries increases, the demand for sternal closure systems also grows.

2. Advancements in Surgical Techniques: The advent of minimally invasive surgical techniques has enhanced patient outcomes and facilitated quicker recovery. These procedures require efficient sternal closure systems that enable secure fixation while minimizing scarring and reducing the risk of post-operative complications.

3. Technological Advancements: The ongoing developments in sternal closure systems, including the introduction of titanium plates, bioresorbable fixation devices, and improved closure methods, are expected to drive market growth. These advancements provide enhanced stability, increased patient comfort, and reduced risks associated with traditional techniques.

 

Industry Restraints & Challenges:

Report Scope

Report Coverage	Details
Segments Covered	Product, Procedure, Material, Region
Regions Covered	• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	Zimmer Biomet, Johnson & Johnson, B. Braun Melsungen AG, Orthofix Holdings, GE Healthcare, KLS Martin Group, A&E Medical, Jace Medical, LLC, Acute Innovations, Abyrx, Kinamed Incorporated

1. High Cost of Sternal Closure Systems: The cost of sternal closure systems can be a significant challenge for market growth, especially in emerging economies. The high cost of these systems can limit their adoption, particularly in regions with limited healthcare budgets.

2. Lack of Skilled Healthcare Professionals: Proper placement and fixation of sternal closure systems require skilled healthcare professionals. However, the shortage of trained professionals, especially in developing countries, can hinder the widespread adoption of these systems.

3. Risk of Infection and Complications: Infection and post-operative complications, such as bone dehiscence and mediastinitis, remain potential challenges in sternal closure procedures. These risks can discourage healthcare providers from adopting advanced sternal closure systems, affecting market growth.

In summary, the sternal closure systems market is poised for significant growth due to various growth drivers such as the increasing incidence of cardiovascular diseases, advancements in surgical techniques, and technological developments. However, challenges related to the high cost of these systems, the shortage of skilled healthcare professionals, and the risk of complications need to be addressed to fully realize the market's potential.

Regional Forecast:

The sternal closure systems market is expected to witness significant growth across different regions, namely North America, Asia Pacific, and Europe.

North America

North America holds the largest market share owing to the presence of a large number of key market players and advanced healthcare infrastructure. The increasing prevalence of cardiac diseases, a rise in the geriatric population, and the growing adoption of minimally invasive procedures are driving the market growth in this region.

Asia Pacific

Asia Pacific is expected to witness the highest growth rate during the forecast period, attributed to the rise in healthcare expenditure, increasing disposable income, and a surge in the number of cardiac surgeries.

Europe

Europe is also projected to experience substantial growth due to the increasing prevalence of cardiovascular disorders and the availability of technologically advanced sternal closure systems in the region.

Segmentation Analysis:

Sternal closure systems can be segmented based on product type, material type, closure type, and indication.

1. Sub-Segment: Software Integration Solutions

Software integration solutions play a crucial role in managing and analyzing the data generated from sternal closure systems. These solutions are designed to improve patient outcomes, enhance workflow efficiency, and facilitate better decision-making. The integration of software into sternal closure systems allows for real-time monitoring, data analysis, and automated reporting. It enables healthcare professionals to track patient progress, identify complications, and make informed treatment decisions. The utilization of software integration solutions in sternal closure systems is expected to witness significant growth due to the increasing demand for advanced data management and analytics in healthcare settings.

Competitive Landscape:

The sternal closure systems market is highly competitive and fragmented, with several key players dominating the market. Some of the major market players are Acute Innovations LLC, DePuy Synthes Companies, Stryker Corporation, A&E Medical Corporation, KLS Martin Group, Orthofix Holdings, Inc., Zimmer Biomet Holdings, Inc., IDEAR S.R.L., Kinamed Incorporated, and Praesidia Srl. These companies are focusing on strategic collaborations, product launches, and acquisitions to strengthen their market position. They are also investing in research and development activities to introduce innovative sternal closure systems to meet the evolving needs of healthcare professionals and improve patient outcomes.