Sternal Closure System Market Set for Steady Growth, Fueled by Technological Advancements and Rising Cardiovascular Surgeries

VANCOUVER, BC, CANADA, June 10, 2024 /EINPresswire.com/ -- The global sternal closure system market, valued at USD 2.30 billion in 2022, is poised for significant growth with an expected compound annual growth rate (CAGR) of 4.4% through 2032. This promising market expansion is primarily driven by the increasing geriatric population, technological advancements, and the rising prevalence of cardiovascular diseases (CVDs).

Key Drivers of Market Growth

Innovations in Materials: The market has seen substantial advancements in materials used for sternal closure systems. Notably, biocompatible polymers such as Polyether Ether Ketone (PEEK) and Kryptonite bone cement offer enhanced strength, durability, and imaging compatibility. These innovations are improving efficiency, quality, and development processes within the market.

Increasing Prevalence of CVDs: Cardiovascular diseases remain the leading cause of death worldwide, with 17.9 million fatalities annually, according to the World Health Organization (WHO). The high prevalence of CVDs necessitates numerous open-heart surgeries, thereby boosting the demand for effective sternal closure systems.

Geriatric Population: Older adults are more prone to CVDs, often requiring surgical interventions. Traditional sternal closure methods can pose higher risks for this demographic, increasing the demand for minimally invasive techniques that offer quicker recovery and reduced pain.

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Technological Advancements

The market is witnessing notable technological advancements aimed at improving patient outcomes. For instance, Abyrx's MONTAGE bone putty, approved for cardiac surgery in September 2023, marks a significant development. This moldable putty adheres easily to bleeding bone and hardens quickly, simplifying surgical procedures and promoting faster patient recovery with reduced pain.

Market Restraints

Despite the positive outlook, certain factors could hinder market growth. Risks associated with sternal closure procedures, such as infections and sternal dehiscence, remain concerns for both surgeons and patients. Additionally, traditional wire methods are still widely used due to their lower cost and familiarity among medical professionals, presenting competition to newer techniques.

Market Segmentation Insights

Product Segments:

Closure Devices: Dominating the market, these devices minimize tissue disruption and postoperative pain, leading to higher patient satisfaction and better long-term outcomes.

Bone Cement: Expected to grow steadily due to its cost-effectiveness and improved properties, making it a viable option for cost-sensitive healthcare systems.

Procedure Types:

Median Sternotomy: This segment is projected to hold the largest market share, driven by its common use in major heart surgeries such as coronary artery bypass grafting (CABG) and valve replacements.

Hemi Sternotomy: Anticipated to grow moderately, this procedure is gaining popularity for minimally invasive cardiac surgeries due to quicker recovery times and reduced complications.

Material Types:

Titanium: Expected to dominate the market, titanium offers excellent strength, biocompatibility, and compatibility with imaging techniques, ensuring safe and effective sternal closure.

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Sternal Closure System Top Companies and Competitive Landscape

The global sternal closure system market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective sternal closure system solutions.

Zimmer Biomet

GE HealthCare

Johnson & Johnson Private Limited

Acute Innovation SA-

Orthofix US LLC

KLS Martin Group

Kinamed Incorporated

Acumed LLC

ABYRX, INC

JEIL MEDICAL CORPORATION

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Sternal Closure System Latest Industry News

On 20 January 2023, Able Medical Devices announced the launch of Valkyrie Looped Sternotomy Sutures for chest closure after open heart surgery. These innovative stainless-steel sutures ditch the single wire approach and instead come with a looped design, doubling the surface area for a stronger, more robust closure. These sutures come in two sizes (48mm and 55mm) and three different needle configurations to adapt to various needs. In addition, these sutures seamlessly integrate with Able Medical's existing Valkyrie Thoracic Fixation System, offering surgeons a complete package for secure and reliable chest closure.

On 1 December 2020, Zimmer Biomet announced the acquisition of A&E Medical Corporation. This acquisition gives access to their diverse portfolio of products, including sutures, cables, rigid fixation systems, and even temporary pacing wires and surgical punches. This move strengthens Zimmer Biomet's position in the growing sternal closure market, allowing to offer a complete suite of solutions catering to various patient needs and surgical approaches. In addition, rigid fixation expertise from A&E Medical set a new standard in sternal closure.

Sternal Closure System Segment Analysis

For the purpose of this report, Emergen Research has segmented global the global sternal closure system market on the basis of product, procedure, material, and region:

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

Closure Devices

Sternal Closure Wires

Sternal Closure Plates and screws

Sternal Closure Clips

Sternal Closure Cables

Bone Cement

Others

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

Median Sternotomy

Hemi Sternotomy

Bilateral Thoracosternotomy

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

Titanium

Polyether Ether Ketone

Stainless Steel

Others

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

North America

U.S.

Canada

Europe

Germany

France

UK

Italy

Spain

Benelux

Russia

Rest of Europe

Asia Pacific

China

Japan

South Korea

India

ASEAN Countries

Oceania

Rest of APAC

Latin America

Brazil

Mexico

Rest of LATAM

Middle East & Africa

GCC Countries

Israel

Turkey

South Africa

Rest of Middle East & Africa

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