Global Sternal Closure Systems Market Size to Grow USD 4.5 Billion by 2032 | CAGR of 4.86%

Global Sternal Closure Systems Market Size to Grow USD 4.5 Billion by 2032

According to a research report published by Spherical Insights & Consulting the Global Sternal Closure Systems Market Size is to Grow from USD 2.8 Billion in 2022 to USD 4.5 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 4.86% during forecast period.

Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on the "Global Sternal Closure Systems Market, By Product (Closure Devices and Bone Cement), By Procedure (Median Sternotomy, Hemisternotomy, Bilateral Thoracosternotomy, & Others), By Material (Titanium, Polyether Ether Ketone (PEEK), Stainless Steel, & Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022– 2032." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/sternal-closure-systems-market

"Sternal closure systems" refers to the procedures used to fixate and stabilize fractures of the anterior chest wall. The systems are widely employed to assist fusion in sternal fixation following sternal reconstructive procedures. With the aid of orthopedic devices known as sternal closure devices, the sternum is stabilized and secured following a sternotomy. The procedure known as a sternotomy entails surgically opening the chest cavity to provide access to the organ that is situated behind the sternum or breast bone. Cardiac surgery is primarily used to treat and manage cardiovascular disease. However, injuries caused by accidents can also be treated by sternotomy. The prevalence of cardiovascular illness is on the rise globally, which has led to an increase in open heart surgeries. This aspect is expected to significantly increase the use of sterna closure devices in the future.

One of the primary factors contributing to the increase in the geriatric population is the increasing number of senior patients undergoing open-heart surgery using median sternotomies, which is a growing market for sternal closure devices. The incidence of non-communicable diseases and the number of people with catastrophic injuries are rising, and developing countries are spending a lot on public medical infrastructure as a result. This will result in a significant increase in the number of surgical procedures performed in these countries. Furthermore, Surgeons all around the world are adopting an increasing number of specialized surgical devices with cutting-edge technology for sternal closure after essential surgical procedures (such as cardiac bypass surgery, acute traumatic heart surgeries, and cardiac valve replacement surgery). In contrast, sternal closure operations frequently lead to sternal dehiscence, deep wound infections, and long-term discomfort.

Covid 19 Impacts

The COVID-19 pandemic, which is believed to have begun in China, has had a major effect on the orthopedic devices market. Government directives to postpone elective surgery have significantly reduced the amount of money the market generates. A major deferral of elective procedures was suggested by the American Society of Anesthesiologists in July 2020 in reaction to the COVID-19 outbreak. Sales of orthopedic products have significantly decreased as a result of the heavy load the outbreak placed on the hospitals.

The closure devices segment is dominating the largest market share during the forecast period.

The global sternal closure systems market is segmented into several categories based on products, including closure devices and bone cement. Among these sectors, the closure devices segment is anticipated to have the greatest potential for growth throughout the projected period because of things like new launches and rising per capita spending in established and emerging economies. When compared to bone cement, these devices have demonstrated benefits like a decrease in surgical issues and infections as well as a quicker recovery time. The segment's expansion is also likely to be accelerated during the forecast period by the increased efforts being made by major market participants to introduce new approaches and product lines.

The median sternotomy segment is influencing the market with the largest market share during the forecast period.

The global sternal closure systems market is divided into many varieties based on the technique, including bilateral thoracosternotomy, hemisternotomy, median sternotomy, and others. The median sternotomy segment is leading the market with the biggest revenue share during the projection period among these segments because Medial sternotomies are routinely performed osteotomies all over the world because of how easily the heart, lungs, and surrounding structures can be accessible during heart valve replacement and coronary artery bypass surgery. The demand for median sternotomies has increased globally because they also reduce post-operative infections and complications. Additionally, as the aging population, which is more susceptible to developing chronic cardiac problems like CVDs, develops, the demand for median sternotomies is anticipated to rise.

The titanium segment is influencing the market with the largest market share during the forecast period.

The global market for sternal closure systems is divided into several categories based on material, including titanium, polyether ether ketone (PEEK), stainless steel, & others. Due to the advantages of titanium, such as its biocompatibility, capacity to effectively join human bones, and corrosion resistance, this category will dominate the market with the most revenue share over the forecast period. Due to their non-ferromagnetic qualities, which allow patients with titanium implants to undergo secure MRI scans, these materials are also becoming more and more common on the market.

North America led the market with the largest market share over the forecast period

North America is expected to lead substantial market expansion during the forecast period due to increased attempts by important companies to collaborate to improve their product offerings and ensure high-quality standards. A significant contributing element may also be thought of as the high prevalence of cardiac disease in North America. According to a CDC survey, 28.1 million Americans have been diagnosed with a heart problem, such as valvular heart disease or cardiac arrest.

Aisa Pacific is predicted to experience strong revenue market growth throughout the forecast period due to large companies prioritizing developing their global geographic reach and commercializing their products at competitive prices. The market demand for sternal closure devices in the region is also anticipated to rise as a result of rising healthcare spending, increasing cardiovascular disease awareness, and expanding infrastructure investment.

Major vendors in the Sternal Closure Systems Market include Zimmer Biomet, Johnson & Johnson, B. Braun Melsungen AG, Orthofix Holdings, Inc., GE Healthcare, KLS Martin Group, A&E Medical Corporation, Jace Medical, LLC, Acute Innovations, Abyrx, Inc., Kinamed Incorporated and Others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In March 2021, Montage Bone Putty, a pipeline medical product from Abyrx Inc. that is a settable, re-absorbable hemostatic bone putty, is currently undergoing Phase 2 clinical trials to compare the effectiveness of montage putty combined with conventional wires to the results of conventional wires alone in the postoperative recovery of cardiac patients with medical sternotomies.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the Global Vascular Patches Market based on the below-mentioned segments:

Global Vascular Patches Market, By Material

• Biologic 
• Synthetic

Global Vascular Patches Market, By Application

• Carotid Endarterectomy
• Open Repair of Abdominal Aortic Aneurysm
• Vascular Bypass Surgery
• Congenital Heart Disease
• Other

Global Vascular Patches Market, By End User

• Hospitals
• Ambulatory Surgical Centers

Vascular Patches Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico

• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

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