Global Sternal Closure Systems Market

Global Sternal Closure Systems Market Size, Share, Growth Analysis, By Product(Sternal Closure Devices, Bone Cement), By Material(Stainless Steel, Polyether Ether Ketone (Peek)) - Industry Forecast 2023-2030


Report ID: SQMIG35A2513 | Region: Global | Published Date: February, 2024 | Pages: 165 | Tables: 63 | Figures: 75

Global Sternal Closure Systems Market Insights

Sternal Closure Systems Market size was valued at USD 2.39 billion in 2021 and is poised to grow from USD 2.52 billion in 2022 to USD 4.04 billion by 2030, growing at a CAGR of 5.4% in the forecast period (2023-2030).

Sternal closures are designed to be used in both stabilizing and fixing the fractures of the anterior chest wall. The systems are used to fixate the sternum after sternotomies and sternal reconstructive surgeries in order to encourage fusion. The median sternotomy is the widely used technique for cardiac procedures because it provides quick and easy access to heart valves and arteries. Sternotomies and sternal closure are procedures done both prior to and during heart surgery.

The main drivers for the growth of the sternal closure systems market globally are the growth rates of Cardiovascular disorders caused by unhealthy lifestyles, the growing amount of smokers, and the rising % of the population with alcohol addiction.

US Sternal Closure Systems Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2023-2030

Global Market Size

USD 2.39 billion

Largest Segment

Sternal Closure Devices

Fastest Growth

Sternal Closure Devices

Growth Rate

5.4% CAGR

Global Sternal Closure Systems Market 2022-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Sternal Closure Systems Market Size By Product 2022-2028 ($ Bn)
Global Sternal Closure Systems Market Size By Product 2022-2028 (%)

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Global Sternal Closure Systems Market Segmental Analysis

Global Sternal Closure Systems Market segmentation is based on product, material, and region. Based on product the market is segmented into sternal closure devices and bone cement. Based on material the market is segmented into stainless steel, polyether ether ketone (peek), titanium, and others. Based on region the global sternal closure systems market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

Sternal Closure Systems Market Analysis by Product

In 2021, the market share held by the sector of sternal closure devices was the greatest at 71.9 %. The primary causes of the sector's leading share include the introduction of new items and increased per capita consumption in both advanced and emerging nations. The significant market share of this sector is due to the rise in sophisticated cardiac procedures and the expansion of medical expenditures in advanced economies. Wires, plates and screws, cables, and clips are the different categories of sternal closure devices.

The market share of the bone cement category is lower. The market's growing application of closure devices is mostly to blame for the segment's slower-than-expected growth.

Sternal Closure Systems Market Analysis by Material

In 2021, the sternal closure device type held the highest share. Based on material the market is segmented into stainless steel, polyether ether ketone (peek), titanium, and others. Due to factors including improved biocompatibility, new product offerings in the sternal closure device type, and chemical stability, among many others, the titanium devices had a sizable market share and are anticipated to increase at the fastest rate throughout the projection period. This sector's growth is anticipated to be fueled by the wide range of clinical studies evaluating the effectiveness of these products during sternal closing, as well as the greater market focus on titanium solutions’ significant associated benefits.

Global Sternal Closure Systems Market By Product, 2021 (%), 2021 (%)

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Global Sternal Closure Systems Market Regional Insights

In 2021, North America has dominated the global sternal closure systems market, due to the presence of leading companies and the high prevalence of CVDs such as cardiac arrest and valvular heart disease in the zone, North America is expected to continue to dominate the market throughout the forecast period. Due to its pro-patient legislation, large patient population, and established healthcare market, the United States has the largest share in North America.

Due to the increasing awareness about cardiovascular disorders and treatments in the region, Asia-Pacific (APAC) is anticipated to have considerable growth during the forecast period of 2022 to 2028. Major players are also expanding their regional presence and focused on commercializing their products at low pricing. Additionally, the region's market is anticipated to be driven by an increase in healthcare spending, investment in infrastructure, and increasing awareness of CVDs.

Global Sternal Closure Systems Market By Geography, 2022-2028, 2023-2030
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  • Fastest

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Global Sternal Closure Systems Market Dynamics

Sternal Closure Systems Market Driver

  • Rise in the prevalence of cardiac disease to increase the sternal closure demand globally.

The global market for closure devices is rising as a result of the elderly, which is increasingly vulnerable to chronic Cardiovascular disorders and is driving up the % of cardiovascular surgeries. In addition, inadequate diet and inactivity raise the risk of cardiovascular disease in the older population. Unhealthy lifestyles, heavy smoking, alcohol intake, and a poor diet are all contributing to a rise in the frequency of heart disorders all around the world.

  • Technological development in healthcare to increase healthcare facilities.

Owing to the increase in non-communicable infection rates and injuries, emerging nations are concentrating on expanding the public healthcare facilities, which will also boost the number of surgeries there. The requirement for surgical instruments has increased due to an increase in surgeries performed around the world.

Sternal Closure Systems Market Restraint

  • Adoption of minimally invasive surgeries for the treatment of chronic disorders.

The maintenance and treatment of chronic illnesses are increasingly using minimally invasive and non-invasive operations. The market for sternal closures is predicted to suffer due to the rising popularity of minimally invasive operations combined with an increase in surgeries performed.

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Global Sternal Closure Systems Market Competitive Landscape

The main market participants for sternal closure systems are concentrating on implementing mergers, partnerships, collaborations & acquisition tactics to increase their revenue. These major players are coming up with new advancements and strategies in sternal closure devices to boost their market share. In 2021, The Valkyrie Thoracic Fixation System was introduced by Able Medical Devices. Following open-heart surgery, it is the first single-use radiolucent plating device created to span the osteotomy and close the sternum.

Sternal Closure Systems Market Top Players Company Profiles

  • Zimmer Biomet 
  • Praesidia
  • DePuy Synthes
  • A&E Medical Corporation
  • Acute Innovations
  • ABYRX
  • KLS Martin Group
  • Kinamed Incorporated
  • Medline Industries Inc.
  • Stryker Corporation
  • RTI Surgical Inc.
  • Sklar Surgical Instruments
  • Johnson & Johnson
  • B. Braun Melsungen AG
  • Zimmer MedizinSysteme GmbH
  • De Soutter Medical Limited
  • Dispomedica GmbH
  • Teleflex Medical OEM
  • Grena Ltd.
  • MicroAire Surgical Instruments

Sternal Closure Systems Market Recent Development

  • In June 2021, The ValkyrieTM Thoracic Fixation System was introduced by Able Medical Devices. The device is the very first single-use radiolucent plating system on the market that is intended just for use following open-heart surgery to span the osteotomy and seal the sternum.
  • In March 2021, Montage Bone Putty, a pipeline medical product from Abyrx Inc., is a settable, re-absorbable hemostatic bone putty. It is currently undergoing Phase 2 clinical trials to compare how well cardiac patients with medical sternotomies heal after surgery using montage putty and conventional wires vs. traditional wires alone.

Global Sternal Closure Systems Key Market Trends

  • Due to the simplicity, rapidity, relatively low rate of complications, and inexpensive cost of wires, sternal closure with wires is becoming the norm. The sternal halves made during the median sternotomy are typically closed with a set of interrupted or figure-of-eight wires. But, under physiologic loads, all wiring schemes permit some sternal half movement and separation. Except if the sternotomy is mechanically flawed, these minor motions do not harm the great group of patients with normal sternums and may even hasten bone repair by encouraging early callus formation.

Global Sternal Closure Systems Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our analysis, the Closure Devices industry dominated the global sternal closure systems market in 2021 and is anticipated to maintain its dominance throughout the forecast period. In 2021, the titanium devices had a sizable market share and are anticipated to increase at the fastest rate throughout the projection period. In 2021, North America dominated the global sternal closure systems market due to the presence of leading companies and the high prevalence of CVDs such as cardiac arrest and valvular heart disease in the zone.

Report Metric Details
Market size value in 2021 USD 2.39 billion
Market size value in 2030 USD 4.04 billion
Growth Rate 5.4%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Product
    • Sternal Closure Devices, Bone Cement
  • Material
    • Stainless Steel, Polyether Ether Ketone (Peek), Titanium, Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Zimmer Biomet 
  • Praesidia
  • DePuy Synthes
  • A&E Medical Corporation
  • Acute Innovations
  • ABYRX
  • KLS Martin Group
  • Kinamed Incorporated
  • Medline Industries Inc.
  • Stryker Corporation
  • RTI Surgical Inc.
  • Sklar Surgical Instruments
  • Johnson & Johnson
  • B. Braun Melsungen AG
  • Zimmer MedizinSysteme GmbH
  • De Soutter Medical Limited
  • Dispomedica GmbH
  • Teleflex Medical OEM
  • Grena Ltd.
  • MicroAire Surgical Instruments
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Sternal Closure Systems Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Sternal Closure Systems Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Sternal Closure Systems Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Sternal Closure Systems Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Sternal Closure Systems Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Sternal Closure Systems Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQ's

Sternal Closure Systems Market size was valued at USD 2.39 billion in 2021 and is poised to grow from USD 2.52 billion in 2022 to USD 4.04 billion by 2030, growing at a CAGR of 5.4% in the forecast period (2023-2030).

The main market participants for sternal closure systems are concentrating on implementing mergers, partnerships, collaborations & acquisition tactics to increase their revenue. These major players are coming up with new advancements and strategies in sternal closure devices to boost their market share. In 2021, The Valkyrie Thoracic Fixation System was introduced by Able Medical Devices. Following open-heart surgery, it is the first single-use radiolucent plating device created to span the osteotomy and close the sternum. 'Zimmer Biomet ', 'Praesidia', 'DePuy Synthes', 'A&E Medical Corporation', 'Acute Innovations', 'ABYRX', 'KLS Martin Group', 'Kinamed Incorporated', 'Medline Industries Inc.', 'Stryker Corporation', 'RTI Surgical Inc.', 'Sklar Surgical Instruments', 'Johnson & Johnson', 'B. Braun Melsungen AG', 'Zimmer MedizinSysteme GmbH', 'De Soutter Medical Limited', 'Dispomedica GmbH', 'Teleflex Medical OEM', 'Grena Ltd.', 'MicroAire Surgical Instruments'

Rise in the prevalence of cardiac disease to increase the sternal closure demand globally.

Due to the simplicity, rapidity, relatively low rate of complications, and inexpensive cost of wires, sternal closure with wires is becoming the norm. The sternal halves made during the median sternotomy are typically closed with a set of interrupted or figure-of-eight wires. But, under physiologic loads, all wiring schemes permit some sternal half movement and separation. Except if the sternotomy is mechanically flawed, these minor motions do not harm the great group of patients with normal sternums and may even hasten bone repair by encouraging early callus formation.

In 2021, North America has dominated the global sternal closure systems market, due to the presence of leading companies and the high prevalence of CVDs such as cardiac arrest and valvular heart disease in the zone, North America is expected to continue to dominate the market throughout the forecast period. Due to its pro-patient legislation, large patient population, and established healthcare market, the United States has the largest share in North America.

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