Sternal Closure Systems Market

Global Sternal Closure Systems Market Size, Share & Trends Analysis Report By Type, (Closure Devices and Bone Cement), By Procedure, By Material Type, By Regional Outlook and Forecast, 2024 - 2031

Report Id: KBV-23060 Publication Date: June-2024 Number of Pages: 230
USD 2.4 Billion
USD 3.6 Billion
Historical Data
2020 to 2022

Market Report Description

The Global Sternal Closure Systems Market size is expected to reach $3.6 billion by 2031, rising at a market growth of 5.2% CAGR during the forecast period.

The increasing incidence of cardiovascular diseases like coronary artery disease, heart valve disorders, and congenital heart defects has led to a higher demand for cardiac surgeries in North America. Thus, the North America region acquired 34.8% revenue share in the market 2023. The aging population in North America is more susceptible to cardiovascular diseases and is, therefore, more likely to undergo cardiac surgery. Governments and healthcare systems in North America are investing in strengthening healthcare infrastructure and improving access to healthcare services.

Sternal Closure Systems Market - Global Opportunities and Trends Analysis Report 2020-2031

The proliferation of medical tourism destinations, particularly in countries offering high-quality healthcare at lower costs, drives the demand for it. These destinations often invest in state-of-the-art medical facilities with advanced surgical equipment and devices.

Additionally, as per the data from the Organization for Economic Co-operation and Development, in 2020, an unprecedented 10.9% of the GDP of the European Union was devoted to health care. With health expenditures exceeding 12% of their GDP, Germany and France allocated the highest proportions. Belgium, Austria, Sweden, and the Netherlands spent more than 11 percent of their GDP on health.

However, stringent regulatory requirements create a high barrier to entry for new players in the market. Small and medium-sized manufacturers may find it challenging to navigate the complex regulatory landscape, limiting competition and innovation in the market. Thus, regulatory challenges and compliance issues can slow down the growth of the market.

Many hospitals and healthcare facilities postponed or cancelled elective surgery to allocate more resources to COVID-19 patients. Since sternal closure systems are commonly used in cardiac surgeries, the decrease in these procedures directly affected the market. Fear of contracting COVID-19 in hospitals led to a reduction in hospital admissions for non-emergency conditions. As a result, the number of cardiac surgeries and, consequently, the demand for it decreased.

Driving and Restraining Factors
Sternal Closure Systems Market
  • Expansion of the medical tourism sector
  • Rapidly growing healthcare infrastructure
  • Rising prevalence of cardiovascular diseases
  • Regulatory challenges and compliance issues
  • Economic instability and budget constraints
  • Rising focus on patient safety and infection control
  • Technological advancements in material science
  • Adverse impact of limited reimbursement policies
  • Lack of supply chain disruptions

Material Type Outlook

On the basis of material type, the market is divided into stainless steel, polyether ether ketone (PEEK), titanium, and others. In 2023, the titanium segment dominated the market with 42.2% revenue share. Titanium is biocompatible and well-tolerated by the human body, decreasing the risk of adverse reactions and promoting better tissue integration.

Type Outlook

By type, the market is bifurcated into closure devices and bone cement. In 2023, the closure devices segment held 86.6% revenue share in the market. Closure device manufacturers are integrating digital health solutions into their products, allowing for real-time sternal stability, wound healing, and patient activity monitoring.

Memristor Market Share and Industry Analysis Report 2023

Procedure Outlook

Based on procedure, the market is classified into median sternotomy, hemisternotomy, bilateral thoracosternotomy, and others. The hemisternotomy segment acquired a 29.3% revenue share in the market in 2023. Hemisternotomy involves opening only a portion of the sternum. It ensures secure sternum closure, preventing movement or separation of the bone segments during the healing process.

Free Valuable Insights: Global Sternal Closure Systems Market to reach USD 3.6 Billion by 2031

Regional Outlook

Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2023, the Europe region acquired 30.6% revenue share in the market. The rise in cardiovascular diseases has led to an increase in the number of cardiac surgeries performed across Europe.

Sternal Closure Systems Market
Report Attribute Details
Market size value in 2023 USD 2.4 Billion
Market size forecast in 2031 USD 3.6 Billion
Base Year 2023
Historical Period 2020 to 2022
Forecast Period 2024 to 2031
Revenue Growth Rate CAGR of 5.2% from 2024 to 2031
Number of Pages 230
Number of Tables 360
Report coverage Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives
Segments covered Type, Procedure, Material Type, Region
Country scope
  • North America (US, Canada, Mexico, and Rest of North America)
  • Europe (Germany, UK, France, Russia, Spain, Italy, and Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific)
  • LAMEA (Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA)
Companies Included

Johnson & Johnson, KLS Martin Group, Orthofix Medical, Inc. (Breg, Inc.), Kinamed Inc., B. Braun Melsungen AG, Stryker Corporation, Medtronic PLC, Zimmer Biomet Holdings, Inc., Acumed LLC (Colson Medical, Inc.), Able Medical Devices

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Recent Strategies Deployed in the Market

  • Jan-2023: Able Medical Devices launched “Valkyrie Looped Sternotomy Sutures" made of stainless steel. The Valkyrie Looped Sternotomy Sutures are designed for closing a patient's chest after open-heart surgery. They provide a more robust sternal closure than traditional wire sutures, offering twice the surface area of single wires.
  • Dec-2020: Zimmer Biomet Holdings, Inc. took over A&E Medical Corporation, a medical equipment manufacturing company. Through this acquisition, Zimmer Biomet would provide a comprehensive range of sternal closure products, including rigid fixation options, which have the potential to revolutionize the standard of care and address a variety of unmet patient and surgical needs.

List of Key Companies Profiled

  • Johnson & Johnson
  • KLS Martin Group
  • Orthofix Medical, Inc. (Breg, Inc.)
  • Kinamed Inc.
  • Braun Melsungen AG
  • Stryker Corporation
  • Medtronic PLC
  • Zimmer Biomet Holdings, Inc.
  • Acumed LLC (Colson Medical, Inc.)
  • Able Medical Devices

Sternal Closure Systems Market Report Segmentation

By Type

  • Closure Devices
  • Bone Cement

By Procedure

  • Median Sternotomy
  • Hemisternotomy
  • Bilateral Thoracosternotomy
  • Others

By Material Type

  • Titanium
  • Stainless Steel
  • Polyether Ether Ketone (PEEK)
  • Others

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA


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