Sternal Closure Systems Market Growth With Worldwide Industry Analysis To 2028: Grand View Research Inc.

 Sternal Closure Systems Market Growth & Trends

The global sternal closure systems market size is expected to reach USD 3.5 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.6% from 2021 to 2028. The market is driven by the growing number of surgeries undertaken to treat complex cardiovascular problems. For instance, according to the data published by the Centers for Disease Control and Prevention (CDC), around 30.3 million or 12.1% of U.S. adults were diagnosed with heart disease in 2018.

The National Health Interview Survey conducted by CDC in 2016 concluded that 28.1 million people were diagnosed with heart-related disorders including, valvular heart disease, cardiac arrest. Moreover, technological advancements such as Talon systems, double sternal wires, and favorable reimbursement criteria would propel growth in the near future.

Mergers and acquisitions, new product development, and geographical expansion are key sustainability strategies adopted by players in the market. For instance, in December 2020, Zimmer Biomet Holdings Inc., acquired A&E Medical Corporation to gain access to its product portfolio, ensuring long-term growth.

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Sternal Closure Systems Market Report Highlights

• North America dominated the market in 2020, attributed to the presence of a large number of players and high competitive rivalry in the market
• By product, the closure devices segment held major shares of the market in 2020, owing to the introduction of technologically advanced clips and wires globally and favorable reimbursement regulations offer by developed regions such as North America and Europe
• By procedure, the median sternotomy segment dominated the market in 2020, as it is among the frequently performed osteotomies worldwide
• By material, the PEEK segment is anticipated to post significant growth over the coming years due to several benefits offered by the material, including biocompatibility, chemical resistance, end-product purity, high-temperature resistance, and thermoformable nature

Sternal Closure Systems Market Segmentation

Grand View Research has segmented the global sternal closure systems market based on product, procedure, material, and region:

Sternal Closure Systems Product Outlook (Revenue, USD Million, 2016 - 2028)

• Closure Devices
  • Wires
  • Plates and Screws
  • Clips
  • Cables
• Bone Cement

Sternal Closure Systems Material Outlook (Revenue, USD Million, 2016 - 2028)

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

Sternal Closure Systems Procedure Outlook (Revenue, USD Million, 2016 - 2028)

• Median Sternotomy
• Hemisternotomy
• Bilateral Thoracosternotomy
• Others

Sternal Closure Systems Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • Japan
  • China
  • India
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • South Africa

List of Key Players of Sternal Closure Systems Market

• Zimmer Biomet
• Johnson & Johnson
• Braun Melsungen AG
• Orthofix Holdings, Inc.
• GE Healthcare
• KLS Martin Group
• A&E Medical Corporation
• Jace Medical, LLC
• Acute Innovations
• Abyrx, Inc.
• Kinamed Incorporated

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.