Sternal Closure Systems Market to hit US$ 5.23 Billion by 2030 | Exclusive Report by Growth Plus Reports

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Oct 03, 2022, 09:00 ET

NEW YORK, Oct. 3, 2022 /PRNewswire/ -- According to a new market research report titled, "Sternal Closure Systems Market by Product (Bone Cement and Closure Devices), by Procedure (Hemisternotomy, Bilateral Thoracosternotomy, and Median Sternotomy), by Material (Titanium and Stainless Steel) - Global Outlook & Forecast 2022-2030" published by Growth Plus Reports, the sternal closure systems market is expected to grow at a CAGR of 5.3% from 2021 to reach US$ 5.23 Billion by 2030. Owing to the increasing geriatric population and advancements in sternal closure devices.

Growth Drivers

One of the key factors driving the global market for sternal closure devices is the expanding elderly population having open-heart surgery through a median sternotomy. During the forecast period, there is expected to be an increase in the demand for sternal closure systems due to a number of factors, including technological developments in sternotomy techniques, an increase in patient population, an increase in surgical procedures, a sizable geriatric population undergoing open heart surgery, and an increase in the accessibility of medical reimbursements in developed nations. Additionally, there is an increase in investment in public health care infrastructure in emerging nations as a result of the burden of noncommunicable diseases and injuries.

The global sternal closure systems market has been analyzed from four different perspectives –product, procedure, material, and region.

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Excerpts from 'By Product Segmentation'

Based on product, the global sternal closure systems market has been divided into:

Bone Cement
Closure Devices

The market share that belonged to closing devices was the highest. The primary causes of the segment's predominate share include increased per capita spending in both developed and emerging nations along with variables like product launches. In compared to bone cement, these devices have shown advantages such as a reduction in surgical problems and infections and a quicker recovery time. Additionally, growing initiatives by major market players to launch new methodologies and product lines are probably going to accelerate the segment's growth in the near future.

Excerpts from 'By Material Segmentation'

The global sternal closure systems market has been divided into:

Titanium
Stainless Steel

The highest revenue share is anticipated to come from the titanium segment. This dominance is brought about by benefits such titanium's biocompatibility, ability to efficiently join human bones, and resistance to corrosion. Additionally, the non-ferromagnetic quality of these materials, which enables patients with titanium implants to be safely scanned using an MRI, is accelerating their uptake in the market. Furthermore, it is anticipated that the widespread use of titanium-based sternal closure systems will be aided by their high efficacy, non-toxic nature of the implant and stability of the titanium products, greater economic feasibility coupled with increased affordability for the use of advanced titanium clips and plates in both developed and developing regions.

Excerpts from 'By Region Segmentation'

Based on region, the global sternal closure systems market has been segmented into:

North America
Europe
Asia Pacific
Rest of the World

As leading companies expand their geographic presence in the region and concentrate on the marketing of their products at a reasonably low cost, Asia Pacific is predicted to grow at a profitable CAGR during the forecast period. Additionally, the region's growth will be fueled by rising healthcare spending and infrastructure, as well as increased knowledge of heart ailments and treatment options.

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Excerpts from 'Competitive Landscape'

The prominent players operating in the global sternal closure systems market are

GE Healthcare
Zimmer Biomet
B. Braun Melsungen AG
Johnson & Johnson
A&E Medical Corporation
Abyrx, Inc
DePuy Synthes
Orthofix International N.V
Acute Innovations
Kinamed Incorporated

Table of Content

INTRODUCTION

Market Ecosystem
Timeline Under Consideration

Historical Years – 2020
Base Year – 2021
Forecasted Years – 2022 to 2030

Currency Used in the Report

RESEARCH METHODOLOGY

Research Approach
Data Collection Methodology
Data Sources

Secondary Sources
Primary Sources

Market Estimation Approach

Bottom Up
Top Down

Market Forecasting Model
Limitations and Assumptions

PREMIUM INSIGHTS

Current Market Trends (COVID-19 Perspective)
Key Players & Competitive Positioning (2021)

MARKET DYNAMICS

Drivers
Restraints/Challenges
Opportunities

GLOBAL STERNAL CLOSURE SYSTEMS MARKET - ANALYSIS & FORECAST, BY PRODUCT

Bone Cement
Closure Devices

VALUE PROPOSITIONS RELATED TO THE REPORT:

Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
Comprehensive quantitative and qualitative insights at segment and sub-segment level
Covid 19 impact trends and perspective
Granular insights at global/regional/country level
Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
Blanket coverage on competitive landscape
Winning imperatives
Exhaustive coverage on 'Strategic Developments' registered by leading players of the market

CUSTOMIZATION OPTIONS:

Distributor Landscape Assessment
Pricing Intelligence
Customer Base Assessment
Investment & Initiatives Analysis
'Business Profile' of Key Players

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