Reports And Data

Sternal Closure Systems Market Size – USD 2.4 Billion in 2022, CAGR of 5%, Growing CVD prevalence, and increased demand for minimally invasive heart surgery

NEW YORK, NY, UNITED STATES, March 24, 2023 /EINPresswire.com/ -- The rising prevalence of Cardiovascular Disease (CVD) and geriatric population, as well as the increasing demand for minimally invasive cardiac procedures, are major factors driving market revenue growth.

The global Sternal Closure Systems Market size was USD 2.4 Billion in 2022 and is expected to register a revenue CAGR of 5% over the forecast period, according to the latest report by Reports and Data.

Sternal closure systems are utilized in open-heart surgery to close the sternum, the flat bone that covers the front of the rib cage. These techniques provide support to the thoracic cage, prevent movement of the sternum, and lower the risk of infection. The market for these systems is growing due to the increasing prevalence of cardiovascular diseases such as coronary artery disease, heart attacks, and stroke. According to the World Health Organization (WHO), cardiovascular diseases are responsible for over 17 million deaths worldwide annually, making them the leading cause of death globally. Additionally, the market is being driven by the rising demand for less invasive cardiac surgeries that result in faster recovery times, smaller incisions, and fewer complications.

The market revenue growth is being driven by the rising incidence of cardiovascular diseases, leading to an increase in the number of cardiovascular surgeries. In 2019, approximately one million coronary artery bypass grafting surgeries were performed in the United States, according to the American Heart Association.

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Key players in the global sternal closure systems market include Johnson & Johnson Services, Inc., Zimmer Biomet Holdings, Inc., B. Braun Melsungen AG, A&E Medical Corporation, Acute Innovations LLC, DePuy Synthes, KLS Martin Group, IDEAR S.R.L., ABYRX, Inc., and Kinamed, Inc.

Some Key Highlights from the Report

• In 2022, the plate and screw systems market earned the highest revenue, mainly due to a rise in the occurrence of cardiovascular diseases and the number of surgeries performed on the heart. These systems offer extra support and have a great track record in reducing post-operative problems, such as infections and wound reopening. Additionally, the demand for these systems is expected to increase due to the growing preference for minimally invasive cardiac treatments and the necessity for speedy patient recuperation.
• In 2021, the stainless steel industry was the top revenue-generating segment. This was attributed to the exceptional properties of stainless steel, such as its durability, high strength, and ability to resist corrosion, which make it a preferred choice for various applications.
• The North American market is expected to have the highest revenue share during the forecast period due to its well-developed healthcare infrastructure and the presence of numerous established competitors. The prevalence of heart disease has increased due to sedentary lifestyles and obesity, which has resulted in an increased demand for sternal closure devices.
• On September 15, 2020, Johnson & Johnson Services, Inc. introduced the Echelon Flex Endopath staplers with GST reloads, aimed at helping surgeons improve patient outcomes by creating more staples and minimizing tissue stress during thoracic procedures.
• On December 1, 2020, Zimmer Biomet Holdings, Inc. acquired A&E Medical Company, which specializes in researching and manufacturing medical devices used in cardiothoracic surgeries. This acquisition was made with the aim of expanding Zimmer Biomet's portfolio of advanced and inclusive solutions for patients undergoing intricate surgical procedures.

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For the purpose of this report, Reports and Data has segmented the global sternal closure systems market on the basis of Product Outlook, Material Outlook, and Regional Outlook:

Product Outlook (Revenue, USD Billion; 2022 - 2032)

Wire Closures
Plate & Screw Systems
Cable Systems

Material Outlook (Revenue, USD Billion; 2022 - 2032)

Titanium
Polyether Ether Ketone (PEEK)
Stainless Steel
Others

Regional Outlook (Revenue, USD Billion; 2019-2032)

North America
Europe
Asia-Pacific
Latin America
Middle East & Africa

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Key Advantages of Sternal Closure Systems Report:

• Identification and analysis of the market size and competition
• Qualitative and quantitative analysis of the market data
• Data validated by industry experts after extensive primary and secondary research
• Extensive regional analysis of the Sternal Closure Systems industry
• Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
• SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
• Feasibility analysis and investment analysis to enable strategic investment decisions
• Analysis of opportunities, drivers, restraints, challenges, risks, and limitations

Conclusively, all aspects of the Sternal Closure Systems market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.

Nikhil Morankar
Reports and Data
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