Future Outlook and Growth Opportunities in Sternal Closure Systems Market

According to a recent report by Reports and Data, the global Sternal Closure Systems Market size was valued at USD 2.4 billion in 2022, and it is projected to have a compound annual growth rate (CAGR) of 5% over the forecast period.

According to a recent report by Reports and Data, the global Sternal Closure Systems Market size was valued at USD 2.4 billion in 2022, and it is projected to have a compound annual growth rate (CAGR) of 5% over the forecast period. Sternal closure systems are used in open-heart surgery to close the sternum, the bone that covers the front of the rib cage, providing support to the thoracic cage, preventing sternum movement, and reducing the risk of infection.

The market is expected to grow due to the rising prevalence of cardiovascular diseases, such as coronary artery disease, heart attacks, and stroke, which are responsible for over 17 million deaths globally each year, making them the leading cause of death worldwide, according to the World Health Organization (WHO). Furthermore, the market is being driven by the increasing demand for less invasive cardiac surgeries that result in faster recovery times, smaller incisions, and fewer complications.

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The growth of the sternal closure systems market is attributed to the rising incidence of cardiovascular diseases, leading to an increase in the number of cardiovascular surgeries performed. In 2019, approximately one million coronary artery bypass grafting surgeries were performed in the United States, according to the American Heart Association.

Plate and screw systems earned the highest revenue in the market in 2022, mainly due to the increasing occurrence of cardiovascular diseases and surgeries performed on the heart. These systems offer additional support and have a proven track record of reducing post-operative problems, such as infections and wound reopening. Additionally, the demand for these systems is expected to increase due to the growing preference for minimally invasive cardiac treatments and the need for speedy patient recuperation.

In 2021, the stainless steel industry was the top revenue-generating segment due to the exceptional properties of stainless steel, such as durability, high strength, and corrosion resistance, making it a preferred choice for various applications.

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The North American market is expected to have the highest revenue share during the forecast period due to its well-developed healthcare infrastructure and the presence of numerous established competitors. The prevalence of heart disease has increased due to sedentary lifestyles and obesity, resulting in an increased demand for sternal closure devices.

Some of the key players in the global sternal closure systems market include Johnson Johnson Services, Inc., Zimmer Biomet Holdings, Inc., B. Braun Melsungen AG, AE Medical Corporation, Acute Innovations LLC, DePuy Synthes, KLS Martin Group, IDEAR S.R.L., ABYRX, Inc., and Kinamed, Inc.

Johnson Johnson Services, Inc. introduced the Echelon Flex Endopath staplers with GST reloads on September 15, 2020, aimed at helping surgeons improve patient outcomes by creating more staples and minimizing tissue stress during thoracic procedures. Zimmer Biomet Holdings, Inc. acquired AE Medical Company on December 1, 2020, which specializes in researching and manufacturing medical devices used in cardiothoracic surgeries, with the aim of expanding Zimmer Biomet's portfolio of advanced and inclusive solutions for patients undergoing intricate surgical procedures.

The global sternal closure systems market has been segmented by Reports and Data on the basis of Product Outlook, Material Outlook, and Regional Outlook. The product outlook segment includes Wire Closures, Plate Screw Systems, and Cable Systems. The Material Outlook segment includes Titanium, Polyether Ether Ketone (PEEK), Stainless Steel, and Others. The Regional Outlook segment includes North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Sweden, BENELUX, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Rest of APAC), Latin America (Brazil, Rest of LATAM), and Middle East Africa (Saudi)

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Kamal Kulkarni

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