What Factors Propelled The Growth Of The Sternal Closure Systems Market In The Past?
The sternal closure systems market has seen considerable growth due to a variety of factors.
•The market size for sternal closure systems has seen consistent growth in recent years. It is projected to increase from $2.34 billion in 2024 to $2.45 billion in 2025, yielding a compound annual growth rate (CAGR) of 4.6%.
This historical growth is largely due to increased cardiac surgeries, the commonality of cardiovascular diseases, heightened awareness of sternal issues, cooperation between surgeons and device producers, and an emphasis on less invasive heart procedures.
What Is The Projected Growth And Market Size For The Sternal Closure Systems Sector?
The sternal closure systems market is expected to maintain its strong growth trajectory in upcoming years.
• In the forthcoming years, the market size for sternal closure systems is anticipated to witness robust growth. Projected to expand to $3.12 billion by 2029, it will progress at a compound annual growth rate (CAGR) of 6.3%.
This significant growth during the forecast period is largely owing to the rapid advancements in minimally invasive surgery, a heightened focus on patient-oriented healthcare, the spread of cardiac surgery in emerging markets, concerted efforts to decrease post-operative complications, and a collaborative approach in research and development. Key tendencies projected to dominate the period include progressive innovations in device materials, advancements in surgical techniques, minimally invasive methodologies, sternal fixation technologies, wireless remote monitoring, and the tailoring of patient-specific solutions.
What Factors Are Driving Growth In The Sternal Closure Systems Market?
The increasing prevalence of long-term diseases is anticipated to propel the expansion of the sternal closure market. Those with chronic illnesses, such as hypertension, coronary artery disease, and heart failure, often require surgical procedures like valve replacement or coronary artery bypass grafting (CABG), which necessitate sternal incisions. Therefore, the demand for effective sternal closure is deemed vital. A 2023 study by the National Institutes of Health (NIH), a US-based scientific research institution, predicted that the number of US residents aged 50 or older with at least one chronic illness will escalate by 99.5%, from 71.522 million in 2020 to 142.66 million in 2050. Additionally, the tally of individuals with multiple chronic conditions is also expected to surge by 91.16% from 7.8304 million in 2020 to 14.968 million in 2050. Consequently, the escalating prevalence of chronic diseases is fueling the growth of the sternal closure market.
What Are The Main Segments Of The Global Sternal Closure Systems Market?
The sternal closure systems market covered in this report is segmented –
1) By Product: Closure Devices, Bone Cement
2) By Procedure: Median Sternotomy, Hemisternotomy, Bilateral Thoracosternotomy, Other Procedures
3) By Material: Titanium, Polyether Ether Ketone (PEEK), Stainless Steel, Other Materials
4) By End User: Hospitals and Clinics, Research Institutes, Other End Users
Subsegments:
1) By Closure Devices: Sternal Wires, Plates, Clips, Other Closure Devices
2) By Bone Cement: Methacrylate-Based Bone Cement, Non-methacrylate-Based Bone Cement
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What Emerging Trends Are Influencing The Growth Of The Sternal Closure Systems Market?
Leading businesses are pouring capital into firms within the sternal closure systems market to enrich customer experience. These investments might facilitate the development and introduction of cutting-edge sternal closure systems, strengthening their competitive edge and fostering market expansion. In February 2022, an instance of such investment was made by German specialty chemicals enterprise, Evonik, which funded a US-based start-up called CircumFix Solutions. CircumFix has pioneered a novel sternal closure apparatus designed to enhance patient recuperation following operations involving an open chest. The patented device, constructed from a superior, performance polymer supplied by Evonik, securely fastens and supports the post-operative sternum. This investment aligns with Evonik's strategy to reinforce its footprint in the orthopedic market of the U.S. and back the transition from metal to high-performance polymers in implant technology. The game-changing sternal closure instrument is expected to improve patient recovery and security, reflecting Evonik's dedication to progressing medical technology and enhancing patient results.
Who Are the Key Players in the Sternal Closure Systems Market?
Major companies operating in the sternal closure systems market include:
• Zimmer Biomet
• Johnson & Johnson
• B. Braun Melsungen AG
• Depuy Synthes
• KLS Martin Group
• Medtronic PLC
• A&E Medical Corporation
• Stryker Corporation
• Kinamed Incorporated
• Acumed LLC
• Peters Surgical
• Orthofix Medical Inc.
• Praesidia SRL
• Waston Medical
• ABYRX Inc.
• Jeil Medical Corporation
• Jace Medical
• Changzhou Waston Medical Appliance Co. Ltd.
• GPC Medical
• Ulrich GmbH & Co. KG
• Biomet Microfixation
• Idear SRL
• Dispomedica GmbH
• Scanlan International Inc.
• ELLA-CS
• s.r.o.
• Praesidia SRL
• Teleflex Incorporated
• Invibio Biomaterial Solutions
• Eagle BioMedical Inc.
• Z-Medical GmbH & Co. KG
What Is The Most Dominant Region In The Sternal Closure Systems Market?
North America was the largest region in the sternal closure system market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global sternal closure system market report during the forecast period. The regions covered in the sternal closure systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
