Sternal Closure Systems Market Set to Soar Past USD 4.04 Billion by 2030
The global Sternal Closure Systems market size is expected to reach USD 4.04 billion by 2030 and exhibit a CAGR of 5.4% in the forecast period (2023−2030), according to Skyquest's latest research report. The increasing prevalence of cardiovascular diseases and related surgeries, the rising geriatric population globally, growing number of open-heart surgeries, and advancements in surgical techniques and materials are fueling the market's growth.
Westford, USA, July 31, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest's latest global research of the Sternal Closure Systems market, increasing adoption of titanium and absorbable sternal closure devices, rising focus on patient-specific and customized sternal closure solutions, growing preference for minimally invasive techniques, advancements in robotic-assisted sternal surgeries, rising demand for bioresorbable sternal fixation systems, integration of antimicrobial coatings for reducing infection risk, expanding applications in cardiac and thoracic surgeries, and continuous research and development to enhance the safety and efficacy of sternal closure procedures are the trends that aid in the market's growth.
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Sternal closure system is a medical device used to close the sternum after open heart surgery. It is a type of external closure system that uses wires, plates, or cables to hold the sternum together. Sternal closure systems are designed to prevent sternal dehiscence, which is a complication of open heart surgery that occurs when the sternum separates.
Prominent Players in Sternal Closure Systems Market
KLS Martin Group
A&E Medical Corporation
Jace Medical, LLC
Orthofix Holdings, Inc.
Merit Medical Systems
Bard Access Systems
MicroPort Scientific Corporation
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Sternal Closure Plates Demand to Grow Substantially in the Forecast Period
Sternal closure plates dominated the global online market as they are widely used in cardiac and thoracic surgeries for many years. These plates provide stable fixation of the sternum, reducing the risk of sternal dehiscence and facilitating proper healing. Their popularity is attributed to their effectiveness, versatility, and long track record of successful clinical outcomes.
Median Sternotomy is the Leading Application Segment
In terms of application, the median sternotomy is the leading segment as it is the most common surgical approach for cardiac procedures such as coronary artery bypass grafting (CABG), valve replacement, and other cardiac surgeries. With the increasing prevalence of cardiovascular diseases globally, there is a growing demand for sternotomy procedures, driving the need for sternal closure systems.
North America is the leading Market Due to Technological Advancements
Region-wise, North America is one of the largest growing markets with a huge emphasis on technological advancements. The region's dominance is attributed to factors such as a well-established healthcare infrastructure, a high prevalence of cardiovascular diseases, increasing investments in research and development, and the adoption of advanced medical technologies.
A recent report thoroughly analyzes the major players operating within the Sternal Closure Systems market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Sternal Closure Systems.
Key Developments in Sternal Closure Systems Market
In January 2023, DePuy Synthes acquired A&E Medical Corporation for an undisclosed amount. This acquisition gave DePuy Synthes a leading position in the sternal closure system market.
In February 2023, Zimmer Biomet acquired Jace Medical, LLC for $100 million. This acquisition gave Zimmer Biomet a strong portfolio of sternal closure systems for thoracotomy and sternotomy.
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Key Questions Answered in Sternal Closure Systems Market Report
What specific growth drivers are projected to impact the market during the forecast period?
Can you list the top companies in the market and explain how they have achieved their positions of influence?
In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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LinkedIn Facebook TwitterBrowse in-depth TOC on "Sternal Closure Systems Market" Get sample copy of this report:Prominent Players in Sternal Closure Systems MarketBrowse summary of the report and Complete Table of Contents (ToC):Sternal Closure Plates Demand to Grow Substantially in the Forecast PeriodMedian Sternotomy is the Leading Application Segment North America is the leading Market Due to Technological Advancements Key Developments in Sternal Closure Systems MarketSpeak to Analyst for your custom requirements:Key Questions Answered in Sternal Closure Systems Market ReportRelated Reports in SkyQuest’s Library:About Us:SkyQuest TechnologyAddress:Phone: