Sternal Closure Systems Market Size, Share, & Forecast | 2030

[Research Report] The sternal closure systems market is projected to grow from US$ 3.88 billion in 2022 to US$ 5.74 billion by 2030; it is projected to register a CAGR of 5.0% during 2022–2030.

Market Insights and Analyst View:

Deep sternal wound infection is among the most lethal complications that a patient experiences post-heart surgery. Cardiac and thoracic surgery includes opening the sternum. A sternal closure is utilized to close the sternum after heart and chest cavity surgery. Closure of the sternum is one of the effective procedures to control the incidence of wound dehiscence. Sternum closure devices comprise plates, wires, screws, and cables, and these devices are made of titanium, peek, or stainless steel. Factors such as technological innovation in sternotomy techniques, a rise in the patient population, an increase in the number of surgical procedures, a large senior population undergoing open heart surgery, and an increase in the availability of medical reimbursements in developed countries are expected to propel the demand for sternal closure systems products during the forecast period. Moreover, there is an increase in investment in public health care infrastructure in developing countries, owing to a rise in the noncommunicable disease burden and injuries. This is anticipated to boost the number of surgical procedures.

Global Sternal Closure Systems Market Size and Share

Drivers and Restraints Affecting Sternal Closure Systems Market Growth:

The increasing number of open-heart surgeries and the rising geriatric populace propel the market. For instance, the National Institute of Health article published in June 2022 stated that globally, more than 2 million people undergo open-heart surgery yearly to treat multiple heart problems. As per the same source, almost 400,000 coronary artery bypass graft surgeries are performed each year, making it the most frequently performed major surgical procedure. As per the World Health Organization (WHO) report published in October 2022, the global population aged 60 years and over will grow to 1.4 billion by 2030 and reach 2.1 billion by 2050. The geriatric population is more vulnerable to developing cardiovascular diseases, owing to which they often require open-heart surgeries. The high number of open-heart surgeries is anticipated to drive the demand for sternal closure systems as they are majorly used in open-heart surgeries to rejoin the sternum, thereby augmenting the sternal closure systems market growth.

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Sternal Closure System Market Report Segmentation and Scope:

The sternal closure systems market is divided into product, procedure, and material. In terms of product, the market is bifurcated into closure devices and bone cement. The market, based on procedure, is segmented into median sternotomy, hemisternotomy, bilateral thoracosternotomy, and others. Based on material, the sternal closure systems market analysis is carried out by considering the following subsegments: titanium, polyether ether ketone, stainless steel, and others. Geographically, the market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, the UK, Spain, Italy, and the Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (Saudi Arabia, the UAE, South Africa, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

Sternal Closure System Market Analysis Based on Segmental Assessment:

The market, based on product, is bifurcated into closure devices and bone cement. In 2022, the closure devices segment held a larger share of the market and is expected to register a higher CAGR in the market from 2022 to 2030. The market, by closure devices, is categorized into sternal closure wires, sternal closure plates and screws, sternal closure clips, sternal closure cables.

Based on procedure, the market is categorized into median sternotomy, hemisternotomy, bilateral thoracosternotomy, and others. The median sternotomy segment held the largest sternal closure systems market share in 2022 and is projected to register the highest CAGR from 2022 to 2030. Median sternotomy is preferred for valve surgery and reoperative settings for patients with favorable body habitus as it provides better cosmetic outcomes and is less traumatic.

The market, based on material, is segmented into titanium, polyether ether ketone, stainless steel, and others. In 2022, the titanium segment held the largest sternal closure systems market share and polyether ether ketone is expected to register the highest CAGR in the market from 2022 to 2030.

Regional Sternal Closure System Market Analysis:

The scope of the sternal closure systems market report includes the assessment of the market performance in North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. North America captured a major market share in 2022, followed by Europe. The growing number of open-heart and coronary artery bypass grafting surgeries, the rising geriatric population, and the advanced healthcare infrastructure are the factors anticipated to contribute to the increase in the sternal closure systems market size in North America. For instance, as per Detroit Medical Center, nearly 500,000 people in the US undergo open-heart surgery each year. Also, according to the data published by the New Jersey Department of Health in August 2022, 17,291 open heart surgeries were performed in New Jersey in 2021. Similarly, the article published in the National Center for Biotechnology Information (NCBI) in May 2021 stated that about 15,000 people in Canada undergo coronary artery bypass grafting surgery annually.

The growing number of elderly people prone to cardiac disorders who often require cardiac surgeries is expected to boost the demand for sternal closure systems in North American countries. For instance, according to Statistics Canada, the older populace in Canada reached 2,308,041 in 2022 from 2,232,871 in 2021. Similarly, according to the UCAM data published in 2022, around 12% of the Mexican population is over 60. Therefore, the factors mentioned above are projected to fuel the sternal closure system market growth during the forecast period.

Sternal Closure Systems Market Regional Insights

The regional trends and factors influencing the Sternal Closure Systems Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Sternal Closure Systems Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Sternal Closure Systems Market Report Scope

Sternal Closure Systems Market Players Density: Understanding Its Impact on Business Dynamics

The Sternal Closure Systems Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Sternal Closure Systems Market are:

1. Johnson & Johnson Services, Inc.
2. A&E Medical Corporation
3. B. Braun Melsungen AG
4. DePuy Synthes
5. Acute Innovations LLC

Disclaimer: The companies listed above are not ranked in any particular order.

Industry Developments and Future Opportunities:

The sternal closure systems market forecast can help stakeholders in this marketplace plan their growth strategies. A few initiatives taken by key market players operating in the sternal closure systems market are listed below:

• In February 2022, CircumFix Solutions received an investment of ~ US$ 17 million from Evonik Venture Capital for its new sternal closure orthopedic device. This device stabilizes the sternum post-surgery utilizing Evonik’s high-performance polymer.
• In March 2021, A&E Medical Corporation received product approval for its Tritium Sternal Cable Plate System. This product is intended for the stabilization and fixation of fractures of the anterior chest wall, including sternal fixation following sternotomy and sternal reconstructive surgical procedures.
• In December 2020, Zimmer Biomet Holdings, Inc. acquired A&E Medical Corporation, an international leader in developing and manufacturing cardiothoracic surgery products. This acquisition is intended to expand Zimmer Biomet's portfolio of innovative and inclusive solutions for patients undergoing complex surgical procedures.
• In September 2020, Johnson & Johnson Services, Inc. launched the Echelon Flex Endopath staplers with GST reloads designed to help surgeons achieve better patient outcomes with enhanced staple formation and reduced tissue trauma during thoracic surgeries.

Competitive Landscape and Key Companies:

Johnson and Johnson Services, Inc., A&E Medical Corporation, B. Braun Melsungen AG, DePuy Synthes, Acute Innovations LLC, KLS Martin Group, IDEAR S.R.L., Zimmer Biomet Holdings, Inc., ABYRX, Inc., and Kinamed Incorporated. are among the top players profiled in the sternal closure systems market report. These companies focus on presenting new hi-tech products, technological advancements in existing products, and geographic expansions to meet the growing consumer demand worldwide.