The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
Sternal Closure Systems Market Size, Growth Rate, And Forecast
The global sternal closure system market size is expected to grow from $2.15 billion in 2022 to $2.28 billion in 2023 at a compound annual growth rate (CAGR) of 5.74%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many markets across the globe. The global sternal closure system market size is expected to reach $2.79 billion in 2027 at a CAGR of 5.17%.
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Sternal Closure Systems Market Drivers
A higher prevalence of cardiovascular diseases is expected to drive the sternal closure system market going forward. Many cardiovascular diseases often need surgery for which, the sternum bone needs to be opened. The sternal closure system can be useful in properly closing the sternal bone that was opened for the surgeries. For instance, according to research published in the Journal of the American College of Cardiology by the American College of Cardiology, a US-based non-profit medical association, the risk of stroke is expected to increase by 33.8% to 15 million persons from 2025 to 2060. Furthermore, from 2025 to 2060, the risk of heart failure is expected to increase by 33.4% to 13 million persons, heart disease by 30.7% to 29 million persons, and heart attack by 16.9% to 16 million persons. As a result, the increased prevalence of cardiovascular diseases is propelling the sternal closure system market.
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Sternal Closure Systems Market Segments
• By Product: Closure Devices, Bone Cement
• By Procedure: Median Sternotomy, Hemisternotomy, Bilateral Thoracosternotomy, Other Procedures
• By Material: Titanium, Stainless Steel, Other Materials
• By End User: Hospitals and Clinics, Research Institutes, Other End Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the sternal closure systems market.
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Sternal Closure Systems Market Key Players
Major competitors in the sternal closure system market are Zimmer Biomet Holdings Inc., Johnson and Johnson Services Inc., B. Braun Melsungen AG, Orthofix Holdings Inc., KLS Martin Group, A&E Medical Corporation, Jace Medical LLC., Acute Innovations LLC., Abyrx Inc., Kinamed Incorporated , Idear SRL,, Dispomedica GmbH.
The Business Research Company’s “Global Sternal Closure Systems Market Report 2023” is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market’s historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Sternal Closure Systems Market Include:
1. Executive Summary
2. Sternal Closure Systems Market Characteristics
3. Sternal Closure Systems Market Trends And Strategies
4. Sternal Closure Systems Market – Macro Economic Scenario
5. Sternal Closure Systems Market Size And Growth
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27. Sternal Closure Systems Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Sternal Closure Systems Market
29. Sternal Closure Systems Market Future Outlook and Potential Analysis
30. Appendix
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