The global sternal closure systems market size is expected to reach USD 3.8 billion by 2030, expanding at a CAGR of 5.4% from 2023 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.
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Sternal Closure Systems Market Report Highlights
North America dominated the market in 2022, 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 2022, 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 2022, 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
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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
Sternal Closure Wires
Sternal Closure Plates and Screws
Sternal Closure Clips
Sternal Closure Cables
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
U.S.
Canada
Europe
U.K
Germany
France
Italy
Spain
Denmark
Sweden
Norway
Asia Pacific
Japan
China
India
South Korea
Australia
Thailand
Latin America
Brazil
Mexico
Argentina
Middle East & Africa
South Africa
Saudi Arabia
UAE
Kuwait
List of Key Players in the Sternal Closure Systems Market
Zimmer Biomet
Johnson & Johnson
B. Braun Melsungen AG
Orthofix Holdings, Inc.
GE Healthcare
KLS Martin Group
A&E Medical Corporation
Jace Medical, LLC
Acute Innovations
Abyrx, Inc.
Kinamed Incorporated
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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