What is the global market size of Sternal Closure Systems Market?

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).

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 2024-2031

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

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Sternal Closure Systems Market size was valued at USD 2.39 billion in 2019 and is poised to grow from USD 2.52 billion in 2023 to USD 4.04 billion by 2031, growing at a CAGR of 5.4% in the forecast period (2024-2031).

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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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 2024-2031

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