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Emerging Trends Influencing The Growth Of The Sternal Closure Systems Market:Evonik's Strategic Investment In Circumfix Solutions
Sternal Closure Systems
How Big Is the Sternal Closure Systems Market Size Expected to Be by 2034?
The Sternal Closure Systems Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
How Big Is the Sternal Closure Systems Market Size Expected to Be by 2034?
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What Are the Emerging Segments Within the Sternal Closure Systems Market?
The sternal closure systems market covered in this report is segmented -
1) By Product: Closure Devices, Bone Cement
2) By Procedure: Median Sternotomy, Hemisternotomy, Bilateral Thoracosternotomy, Other Procedures
3) By Material: Titanium, Polyether Ether ket*one (PEEK), Stainless Steel, Other Materials
4) By End User: Hospitals and Clinics, Research Institutes, Other End Users
Subsegments:
1) By Closure Devices: Sternal Wires, Plates, Clips, Other Closure Devices
2) By Bone Cement: Methacrylate-Based Bone Cement, Non-methacrylate-Based Bone Cement
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What Long-Term Drivers Are Shaping Sternal Closure Systems Market Trends?
The surge in chronic disease cases is projected to significantly contribute to the expansion of the sternal closure market. Chronic diseases are those that persist for at least a year or more, interfering with daily tasks, requiring consistent medical attention or both. Conditions like coronary artery disease, hypertension and heart failure often demand surgical procedures such as coronary artery bypass grafting (CABG) or valve replacement. These procedures necessitate sternal incisions and, hence, require efficient sternal closure. As stated by a report from National Institutes of Health (NIH), a US-based research institute dedicated to biomedical research, it is anticipated that by 2023 the number of individuals over the age of 50 struggling with at least one chronic disease will increase by 99.5%, escalating from 71.522 million in 2020 to 142.66 million in 2050. Moreover, individuals enduring multimorbidity will grow by 91.16% from 7.8304 million in 2020 to 14.968 million in 2050. Thus, due to this remarkable surge in the prevalence of chronic conditions, the sternal closure market is set to experience substantial growth.
Who Are the Top Competitors in Key Sternal Closure Systems Market Segments?
Major companies operating in the sternal closure systems market include Zimmer Biomet, Johnson & Johnson, B. Braun Melsungen AG, Depuy Synthes, KLS Martin Group, Medtronic PLC, A&E Medical Corporation, Stryker Corporation, Kinamed Incorporated, Acumed LLC, Peters Surgical, Orthofix Medical Inc., Praesidia SRL, Waston Medical, ABYRX Inc., Jeil Medical Corporation, Jace Medical, Changzhou Waston Medical Appliance Co. Ltd., GPC Medical, Ulrich GmbH & Co. KG, Biomet Microfixation, Idear SRL, Dispomedica GmbH, Scanlan International Inc., ELLA-CS, s.r.o., Praesidia SRL, Teleflex Incorporated, Invibio Biomaterial Solutions, Eagle BioMedical Inc., Z-Medical GmbH & Co. KG
What Sternal Closure Systems Market Trends Are Gaining Traction Across Different Segments?
Leading businesses are capitalizing on firms active in the sternal closure systems market in order to enhance their service to customers. This financial injection potentially allows these companies to create and introduce innovative sternal closure systems, thereby boosting their competitive edge and propelling the growth of the market. To illustrate, in February 2022, Evonik, a German firm specializing in specialty chemicals, made a significant investment in CircumFix Solutions, a pioneering start-up from the United States which has unveiled a novel sternal closure device designed to enhance patient recuperation following open-chest surgery. The patented orthopedic device, constructed using a high-performance polymer from Evonik, securely fastens and preserves the sternum post-surgery. This strategic investment aims to bolster Evonik's foothold in the U.S. orthopedic market, while fostering the migration from metals to high-performance polymers in the creation of implantable medical instruments. The advanced sternal closure device is projected to improve patient recovery and safety, while Evonik's investment demonstrates firm commitment toward forward-thinking medical technology and improving patient results.
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Which Regions Are Becoming Hubs for Sternal Closure Systems Market Innovation?
North America was the largest region in the sternal closure system market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global sternal closure system market report during the forecast period. The regions covered in the sternal closure systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Sternal Closure Systems Market?
2. What is the CAGR expected in the Sternal Closure Systems Market?
3. What Are the Key Innovations Transforming the Sternal Closure Systems Industry?
4. Which Region Is Leading the Sternal Closure Systems Market?
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