The global sternal closure systems market is witnessing significant growth, driven by the increasing prevalence of cardiovascular diseases and advancements in surgical techniques. This article delves into the market's current landscape, key players, recent developments, and future prospects.
According to Fortune Business Insights, the global sternal closure systems market was valued at USD 1.98 billion in 2024. The market is projected to increase from USD 2.10 billion in 2025 to USD 3.13 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.9% during the forecast period. North America dominated the global market in 2024, holding a significant share of 45.23%.
Top Companies in the Market
- Johnson & Johnson Services Inc. (U.S)
- Zimmer Biomet (U.S)
- KLS Martin Group (Germany)
- B. Braun Medical (Germany)
- Stryker (U.S)
- Jace Medical, LLC (U.S)
- Kinamed Incorporated (U.S)
- Idear S.R.L (Argentina)
- Acute Innovations (U.S)
- Other Predominant Players
Market Report Coverage
The market report encompasses a comprehensive analysis of the sternal closure systems market, including:
- Market Size and Forecast
- Segmentation by Product, Procedure, Material, and Region
- Competitive Landscape
- Key Market Trends and Opportunities
- Regulatory Framework
Key Industry Development
In June 2021, Able Medical Devices announced the launch of the Valkyrie Thoracic Fixation System. This innovative system is the first single-use radiolucent plating system designed to span the osteotomy and close the sternum after open-heart surgery.
Market Drivers & Restraints
Drivers
- Rising Prevalence of Cardiovascular Diseases: The increasing number of cardiovascular surgeries necessitates effective sternal closure systems to ensure patient safety and recovery.
- Technological Advancements: Innovations in materials and design, such as the use of titanium and PEEK, enhance the efficacy and safety of sternal closure devices.
- Aging Population: The growing elderly population is more susceptible to cardiac conditions, leading to a higher demand for sternal closure procedures.
Restraints
- Preference for Minimally Invasive Surgeries: The shift towards less invasive procedures reduces the need for traditional sternal closure systems.
- High Costs: Advanced sternal closure devices can be expensive, limiting their adoption in cost-sensitive markets.
Market Competitive Landscape
The sternal closure systems market is moderately competitive, with key players focusing on mergers, acquisitions, and product innovations to strengthen their market position. For instance, Zimmer Biomet's acquisition of A&E Medical and the launch of new products by companies like Johnson & Johnson and KLS Martin Group highlight the dynamic nature of the market.
Explore the full research report with detailed insights and TOC:https://www.fortunebusinessinsights.com/sternal-closure-systems-market-102039
Market Segments
By Product
- Sternal Closure Devices: Dominated the global market in 2024, owing to their widespread adoption and technological advancements.
- Bone Cement: Used in specific cases, offering an alternative to traditional closure devices.
By Procedure
- Median Sternotomy: The most common procedure, accounting for a significant market share due to its effectiveness in cardiac surgeries.
- Bilateral Sternotomy
- Hemisternotomy
By Material
- Titanium: Preferred for its strength, biocompatibility, and corrosion resistance.
- Stainless Steel: Offers durability and cost-effectiveness.
- PEEK (Polyether Ether Ketone): Known for its radiolucency and compatibility with imaging techniques.
Market Regional Insights
- North America: Held the largest market share in 2024, driven by advanced healthcare infrastructure and high adoption of innovative medical devices.
- Europe: Significant growth attributed to increasing cardiac surgeries and favorable reimbursement policies.
- Asia-Pacific: Expected to witness the highest growth rate due to rising healthcare investments and a growing patient population.
- Latin America and Middle East & Africa: Emerging markets with potential growth opportunities as healthcare infrastructure develops.
Future Market Scope
The sternal closure systems market is poised for continued growth, with projections indicating a rise from USD 2.10 billion in 2025 to USD 3.13 billion by 2032, exhibiting a CAGR of 5.9% during the forecast period. Factors contributing to this growth include ongoing technological advancements, increasing prevalence of cardiovascular diseases, and expanding healthcare access in emerging economies.
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