Sternal Closure Systems Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 5.30 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Sternal Closure Systems Market Analysis
The sternal closure systems market is projected to grow with a CAGR of nearly 5.3% over the forecast period.
COVID-19 significantly impacted the growth of the sternal closure systems market due to the strict lockdown regulations and poor supply of sternal closure products during the initial stages of the pandemic. Also, healthcare providers were occupied with COVID-19 patients, access was restricted to only essential care, and the temporary shutdown of cardiology centers significantly curtailed sternal procedures. According to the BMC study published in March 2021, a worldwide survey identified cardiac surgery reduced by 50% to 75% during the pandemic, with a 50% reduction in dedicated cardiac theater rooms and Intensive care unit beds in 2020. Thus, the significant impact on cardiac surgeries also had a notable impact on the sternal closure system, affecting the market's growth. Moreover, owing to the resumption of elective surgeries after the relaxations of regulations in the post-pandemic period
The major factor attributed to the market growth is the increasing number of open-heart surgeries, along with the rising geriatric population worldwide. For instance, the NIH article published in June 2022 mentioned that more than 2 million people worldwide have open-heart surgery each year to treat various heart problems. Such a high volume of open heart surgeries is expected to drive the demand for sternal closure systems as they are widely used in open heart surgeries to rejoin the sternum, thereby contributing to market growth over the forecast period. Moreover, according to the WHO report published in October 2022, the share of the population in the world aged 60 years and over will increase to 1.4 billion by 2030 and reach 2.1 billion by 2050. Thus, the increasing geriatric population, more susceptible to developing cardiovascular diseases and often requiring open heart surgeries, is expected to contribute to the market growth over the forecast period.
Furthermore, rising product approvals are also expected to contribute to the market's growth. For instance, in October 2021, Able Medical Devices received 510(k) clearance from the United States Food and Drug Administration for its Valkyrie Thoracic Fixation System, which is used for chest wall fracture stabilization, including sternal fixation after sternotomy and sternal reconstructive surgical procedures for patients with normal and poor bone.
Thus, the increasing number of open heart surgeries, the rising geriatric population, and increasing product developments are expected to contribute to the market's growth. However, the gaining popularity of alternative procedures is expected to restrain the market's growth over the forecast period.
Sternal Closure Systems Market Trends
This section covers the major market trends shaping the Sternal Closure Systems Market according to our research experts:
Wires Segment is Expected to Hold a Significant Share in the Market Over the Forecast Period.
Sternal closure with wires has become the standard because of the ease of use, speed of use, relatively low complication rate, and low cost of wires. Common closure methods use either interrupted or figure-of-eight wires to secure the sternal halves created during the median sternotomy. All wiring techniques, however, allow some movement and separation of sternal halves under physiologic loads. These minimal movements do not cause problems in most patients with healthy sternums unless the sternotomy is technically faulty. They may even promote faster bone healing by stimulating early callus formation.
The factors propelling the segment growth are increasing heart surgeries, the geriatric population, and the rising product developments by various key market players. For instance, the NCBI article published in August 2022 mentioned that almost 400,000 coronary artery bypass grafting surgeries are performed each year across the world. Similarly, according to the article published by NCBI in August 2022, approximately 29,947 isolated coronary artery bypass grafting procedures, 36,714 isolated heart valve procedures, and 750 assist device implantations were registered in Germany in 2021. Thus, the rising number of heart surgeries, among which the sternal closure wires are highly used in surgical procedures, are also expected to contribute to the growth of the studied segment.
On the other hand, the rising adoption of sternal closure wires due to their high efficiency in sternal closure procedures is expected to contribute to the market's growth. For instance, according to the NCBI study published in May 2022, stainless steel cerclage wires remain the most well-known and widely utilized sternal fixation technique. Hence, the growing utilization of wire products in the sternal closure is expected to drive segment growth over the forecast period.
Thus, the factors above are boosting the market segment's growth over the forecast period.
North America is Expected to Hold a Significant Share in the Market Over the Forecast Period.
North America is expected to hold the major share of the overall market, throughout the forecast period. The factors that are expected to contribute to the growth of the market in this region are the rising number of open-heart and coronary artery bypass grafting surgeries, the increasing geriatric population along with the advanced healthcare infrastructure.
For instance, as per the data published by Detroit Medical Center in 2022, approximately 500,000 people undergo open-heart surgery each year in the United States. Also, the data published by the New Jersey Department of Health in August 2022, there were 17,291 open heart surgeries in New Jersey in 2021. Similarly, the article published in NCBI article in May 2021 reported that about 15,000 people in Canada undergo coronary artery bypass grafting surgery each year. Furthermore, the rising geriatric population among the North American countries who are prone to cardiac disorders and in need of cardiac surgeries is also expected to drive the demand for sternal closure systems, thereby fueling the market growth. For instance, according to Statistics Canada, the senior population in Canada reached 2,308,041 in 2022, from 2,232,871 in 2021. Likewise, the UCAM data published in 2022, around 12% of the total Mexican population is over 60 years and older. Thus, the growing geriatric population in the region is expected to boost market growth over the forecast period.
Therefore, owing to the above-mentioned factors, the rising cardiac surgeries, the increasing geriatric population along with the presence of key market players in the North American region are expected to occupy a major share of the sternal closure system market during the forecast period of the study.
Sternal Closure Systems Industry Overview
The Sternal Closure Systems market is moderately competitive and has several major players. Some companies currently dominating the market are Johnson & Johnson, Zimmer Biomet Holdings, KLS Martin Group, Acumed, LLC (Colson Medical, LLC), A&E Medical, Idear S.R.L, Praesidia SRL, Kinamed Incorporated, etc.
Sternal Closure Systems Market Leaders
-
Johnson & Johnson
-
Zimmer Biomet Holdings
-
KLS Martin Group
-
Kinamed Incorporated
-
Acumed, LLC (Colson Medical, LLC)
*Disclaimer: Major Players sorted in no particular order
Sternal Closure Systems Market News
- In May 2022, Granulab (M) Sdn Bhd, a subsidiary of KPower Bhd, launched Prosteomax, a halal-certified synthetic bone cement. The Malaysian Islamic Development Department validated Prosteomax as halal and registered it with the Malaysian Medical Device Authority for orthopedics, cranial, dental, and maxillofacial applications.
- In February 2022, Evonik Venture Capital invested in CircumFix Solutions, a Tennessee-based start-up that has created a revolutionary sternal closure device to aid patient recovery after open chest surgery.
Sternal Closure Systems Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
-
4.2 Market Drivers
- 4.2.1 Increasing Patients with Debilitating Wounds
- 4.2.2 Increasing Open Cardiac Surgeries and Geriatric Population
- 4.2.3 Technological Advancements in Sternotomy Techniques
-
4.3 Market Restraints
- 4.3.1 Procedural Risks Associated With Sternal Closure
-
4.4 Porter's Five Force Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
-
5.1 By Product
- 5.1.1 Wires
- 5.1.2 Plates and Screws
- 5.1.3 Bone Cement
- 5.1.4 Others
-
5.2 By Procedure
- 5.2.1 Median Sternotomy
- 5.2.2 Hemisternotomy
- 5.2.3 Bilateral Thoracosternotomy
-
5.3 By Material
- 5.3.1 Stainless Steel
- 5.3.2 Polyether Ether Ketone
- 5.3.3 Titanium
-
5.4 Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.1.3 Mexico
- 5.4.2 Europe
- 5.4.2.1 Germany
- 5.4.2.2 United Kingdom
- 5.4.2.3 France
- 5.4.2.4 Italy
- 5.4.2.5 Spain
- 5.4.2.6 Rest of Europe
- 5.4.3 Asia-Pacific
- 5.4.3.1 China
- 5.4.3.2 Japan
- 5.4.3.3 India
- 5.4.3.4 Australia
- 5.4.3.5 South Korea
- 5.4.3.6 Rest of Asia-Pacific
- 5.4.4 Middle East and Africa
- 5.4.4.1 GCC
- 5.4.4.2 South Africa
- 5.4.4.3 Rest of Middle East and Africa
- 5.4.5 South America
- 5.4.5.1 Brazil
- 5.4.5.2 Argentina
- 5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
-
6.1 Company Profiles
- 6.1.1 Johnson & Johnson
- 6.1.2 Zimmer Biomet Holdings (A&E Medical)
- 6.1.3 KLS Martin Group
- 6.1.4 Acumed, LLC (Colson Medical, LLC)
- 6.1.5 Figure 8 Surgical
- 6.1.6 Idear S.R.L
- 6.1.7 Praesidia SRL
- 6.1.8 Kinamed Incorporated
- 6.1.9 Jace Medical
- 6.1.10 B Braun SE
- 6.1.11 Orthofix Holdings Inc
- 6.1.12 Abyrx Inc
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablitySternal Closure Systems Industry Segmentation
As per the scope of the report, sternal closure systems are intended for use in stabilizing and refocusing fractures of the anterior chest wall. The systems are used in sternal fixation following sternotomy and sternal reconstructive surgical procedures to promote fusion. The market is segmented by Product (Wires, Plates and Screws, Bone Cement, Others), Procedure (Median Sternotomy, Hemisternotomy, Bilateral Thoracosternotomy), Material (Stainless Steel, Polyether Ether Ketone, Titanium), and Geography (North America, Europe, Asia Pacific, Middle East and Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.
| By Product | Wires | |
| Plates and Screws | ||
| Bone Cement | ||
| Others | ||
| By Procedure | Median Sternotomy | |
| Hemisternotomy | ||
| Bilateral Thoracosternotomy | ||
| By Material | Stainless Steel | |
| Polyether Ether Ketone | ||
| Titanium | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Sternal Closure Systems Market Research FAQs
What is the current Global Sternal Closure Systems Market size?
The Global Sternal Closure Systems Market is projected to register a CAGR of 5.30% during the forecast period (2024-2029)
Who are the key players in Global Sternal Closure Systems Market?
Johnson & Johnson, Zimmer Biomet Holdings, KLS Martin Group, Kinamed Incorporated and Acumed, LLC (Colson Medical, LLC) are the major companies operating in the Global Sternal Closure Systems Market.
Which is the fastest growing region in Global Sternal Closure Systems Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Sternal Closure Systems Market?
In 2024, the North America accounts for the largest market share in Global Sternal Closure Systems Market.
What years does this Global Sternal Closure Systems Market cover?
The report covers the Global Sternal Closure Systems Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Sternal Closure Systems Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Sternal Closure Systems Industry Report
Statistics for the 2023 Sternal Closure Systems market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Sternal Closure Systems analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
