Press release
Sternal Closure Systems Market Pre & Post COVID-19 Market Estimates in 2020- Global Industry Trends, Investment Share, Technology Growth
Sternal Closure Systems Market Information: Product (Closure Devices & Bone Cement), Procedure (Median Sternotomy, Bilateral Thoracosternotomy), Closure Material (Stainless Steel & Titanium), and End-User (Hospitals & Clinics) – Global Forecast Till 2023Market Highlights
The sternal closure systems market is expected to register a CAGR of 5% and reach USD 2500 million during the forecast period. Open heart surgery has been a huge success today. Sternum closure systems are used to close the sternum and are the last step in open heart surgery. This technique involves steel wires that are wrapped around the halves of the sternum to close it. The global sternal closure systems market is majorly driven by, rising geriatric populations, abuse of alcohol and drugs, the high prevalence of cardiac diseases, and growing penetration of key market players. Furthermore, raising awareness of healthcare, favorable reimbursement policies, increasing advanced technical devices, increasing innovations in research and development of medical devices, as well as rising average income of individuals, are fueling the market growth. However, factors such as high cost of devices, complicated and costly surgical procedures involved and risks of getting infected due to sternum closure devices are likely to hamper the growth of the market. Lack of proper healthcare infrastructure, as well as awareness regarding cardiac diseases in middle-income countries, is a major challenge to the market growth.
The sternal closure systems market is expected to register a CAGR of 5% and reach USD 2500 million during the forecast period.
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Segmentation
The global sternal closure systems market is segmented on the basis of product type, procedure, closure material type and end-user. According to the product type, the market is segmented closure devices and bone cement. Closure devices are further segmented into wires, plates & screws, clips, and cables.
Considering the type of procedure, the market is segmented into median sternotomy, bilateral thoracosternotomy, hemisternotomy, and others.
According to the closure material type, the market is segmented into stainless steel, titanium, and others.
On account of end-user, the market is segmented into, hospitals & clinic, research institutes, and others.
Based on region the market is segmented into Americas, Europe, Asia Pacific, and the Middle East and Africa. Americas region is segmented into North America and South America. Similarly, Europe is segmented into Western Europe and Eastern Europe.
Key Players
Some of the key players in the Sternal closure systems market are Depuy Synthes, Zimmer Biomet Holdings, Orthofix International N.V., A&E Medical, Kinamed Incorporated, Abyrx, Jace Medical, Jeil Medical Corporation, and Acute Innovations.
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Intended Audience
Pharmaceutical Manufacturers and Suppliers
Medical Research Laboratories
Research and Development (R&D) Companies
Market Research and Consulting Service Providers
Potential Investors
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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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