Global Sternal Closure Systems Market Research Key Players, Industry Overview, Growth Analysis, Trends, Forecast 2032

The size of the global market for sternal closure devices was predicted to be USD 2.39 billion in 2021 and is anticipated to increase at a CAGR of 5.4% from 2022 to 2030. One of the main factors driving the market's growth is the growing number of elderly people having open-heart surgery through a median sternotomy. Due to its simplicity and speedy access to the heart's valves and blood vessels, the median sternotomy operation has remained the most widely used method for cardiac exposure to date.
After a sternotomy, a surgical operation that includes cutting through the sternum to reach the heart or other organs in the chest, sternal closure systems are medical devices used to close the sternum (breastbone). The two parts of the sternum are held together by sternal closure mechanisms, which also aid in healing following the sternotomy. Sternal closure systems are made up of a number of parts, such as cables, plates, screws, and wires.

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Market Segmentation
The sternal closure systems market can be segmented based on product type, material type, procedure type, end-user, and region:
By Product Type:
Closure Devices: Includes wires, plates, and screws
Closure Tools: Includes needle holders, forceps, and retractors
By Material Type:
Stainless Steel
Titanium
Absorbable Materials
Others
By Procedure Type:
Open Heart Surgery
Minimally Invasive Surgery
By End-User:
Hospitals
Specialty Clinics
Ambulatory Surgical Centers
By Region:
North America
Europe
Asia-Pacific
Latin America
Middle East and Africa
The closure devices segment is expected to hold the largest share of the sternal closure systems market due to their wide usage in cardiac surgeries. The absorbable materials segment is also expected to witness significant growth due to their advantages over non-absorbable materials, such as reducing the need for removal. The minimally invasive surgery segment is expected to witness significant growth due to the growing demand for less invasive procedures and shorter hospital stays. Hospitals are expected to hold the largest share of the end-user segment, owing to the high number of cardiac surgeries performed in hospitals. Regionally, North America is expected to hold the largest share of the market due to the high prevalence of cardiovascular diseases and the presence of key market players in the region. The Asia-Pacific region is expected to witness significant growth due to the increasing prevalence of cardiovascular diseases and improving healthcare infrastructure in the region.

Key players in the market :
Zimmer Biomet Holdings Inc.
A&E Medical Corporation
KLS Martin Group
Depuy Synthes (Johnson & Johnson)
Orthofix Medical Inc.
Acute Innovations LLC
IDEAR S.R.L.
Kinamed Incorporated
Abyrx Inc.
Medline Industries Inc.

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Regional Analysis
The sternal closure systems market can be analyzed regionally as follows:
North America: North America is the largest market for sternal closure systems, owing to the high prevalence of cardiovascular diseases and the growing demand for minimally invasive surgical procedures. The presence of key market players in the region, along with favorable reimbursement policies, is also driving the market growth.
Europe: Europe is another significant market for sternal closure systems, driven by the increasing adoption of minimally invasive surgical procedures, advancements in healthcare infrastructure, and growing healthcare expenditure. The region also has a well-established healthcare system and favorable reimbursement policies, which is driving the market growth.
Asia-Pacific: The Asia-Pacific region is expected to witness significant growth in the sternal closure systems market due to the increasing prevalence of cardiovascular diseases, growing aging population, and improving healthcare infrastructure. The rising demand for minimally invasive surgical procedures and advancements in healthcare technologies are also driving the market growth.
Latin America: The Latin America region is expected to witness moderate growth in the sternal closure systems market due to the increasing adoption of minimally invasive surgical procedures, growing healthcare expenditure, and improving healthcare infrastructure.
Middle East and Africa: The Middle East and Africa region is expected to witness slow growth in the sternal closure systems market due to the limited healthcare infrastructure and the low adoption of advanced healthcare technologies. Overall, the sternal closure systems market is expected to witness significant growth in the coming years, driven by the increasing prevalence of cardiovascular diseases, growing aging population, and advancements in healthcare infrastructure and technologies.

Global Sternal Closure Systems Market: Market Size Estimation
Both the top-down and bottom-up approaches were used to estimate and validate the size of the market and to estimate the size of various other dependent sub-markets of various marketspaces. The key players in the markets are identified through secondary research, and their market contributions in different applications across regions and globally were determined through primary and secondary research. This entire process included the study of the annual and financial reports of the top market players and extensive interviews for key insights with industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All the possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analysed to arrive at the final quantitative and qualitative data. This data has been consolidated, and detailed inputs and analysis from Analytics Market Research added before being presented in this report.

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