Sternal Closure Systems Market Expected to Reach US ~$2.68 Billion and CAGR 5.9% by 2028 – Polaris Market Research
The global Sternal Closure Systems Market size is expected to reach USD 2.68 Billion by 2028 according to a new study by Polaris Market Research.
Sternal closure systems are designed to help with the fixation and stabilization of front chest wall fractures. The devices are used to facilitate sternal fusion subsequent sternotomies and sternal reconstructive invasive procedures.
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During the forecast era, factors such as technological advancements in sternotomy techniques, a rise in the group of patients, a surge in surgical procedures, a large number of geriatrics undergoing open-heart surgery, and increased provision of healthcare reimbursements in developed economies are expected to propel the market growth for sternal closure systems.
Furthermore, due to an increase in the burden of non-communicable diseases and accidents, there is an increase in spending in public health care facilities in developing countries. This is anticipated to upsurge the number of invasive procedures in emerging countries.
The rising number of surgeries performed to treat complex cardiovascular disorders is driving the market. According to the CDC, about 30.3 million people (12.1%) in the U.S. were diagnosed with heart diseases, in 2018. According to the CDC’s National Health Interview Survey, 28.1 million people have been diagnosed with heart-related diseases in 2016, including valvular heart disease and cardiac arrest. Furthermore, technical advances like Talon systems, double sternal cables, and favorable reimbursement conditions are expected to drive development soon.
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Market participants such as Zimmer Biomet, B. Braun Melsungen AG, GE Healthcare, A&E Medical Corporation, Jace Medical, LLC, KLS Martin Group, Orthofix Holdings, Inc., Acute Innovations, Abyrx, Inc., Johnson & Johnson, and Kinamed Incorporated are some of the leading players operating in the market for sternal closure systems.
Mergers & acquisitions, new product growth, and regional expansion are all primary tactics used by market leaders to ensure their long-term viability. For example, Zimmer Biomet Holdings Inc. announced to enter into an acquisition agreement with A&E Medical Corporation, in December 2020, to increase access to its product portfolio and guarantee long-term progress.
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Polaris Market Research has segmented the sternal closure systems market report based on product, material, procedure, and region:
Sternal Closure Systems, Product Outlook (Revenue – USD Billion, 2016 – 2028)
- Closure Devices
- Plates and Screws
- Bone Cement
Sternal Closure Systems, Material Outlook (Revenue – USD Billion, 2016 – 2028)
- Polyether Ether Ketone (PEEK)
- Stainless Steel
Sternal Closure Systems, Procedure Outlook (Revenue – USD Billion, 2016 – 2028)
- Median Sternotomy
- Bilateral Thoracosternotomy
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