Edit
Bizwit-Logo-Final

Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. We have a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. 

Global Sternal Closure Systems Market to reach USD 3514.68 million by the end of 2030.

Global Sternal Closure Systems Market Size study & Forecast, by Product (Closure Devices, Bone Cement), by Procedure (Median Sternotomy, Hemi sternotomy, Bilateral Thoraco sternotomy), by Fixation Techniques (Wiring Fixation Techniques, Plate-Screw Systems, Interlocking Systems, Cementing, Vacuum Assisted Closure), by Material (Stainless Steel, Peek, Titanium, Others), by End Users and Regional Analysis, 2023-2030

Product Code: HLSMDE-54707056
Publish Date: 20-12-2023
Page: 200

Global Sternal Closure Systems Market is valued at approximately USD 2216.84 million in 2022 and is anticipated to grow with a healthy growth rate of more than 5.93% over the forecast period 2023-2030. Sternal closure systems are medical devices used to secure the sternum (breastbone) after open-heart surgery. These systems typically involve the use of wires, plates, or other fixation devices to bring the separated halves of the sternum together and promote proper healing and stability. Their primary purpose is to provide support, protect the surgical site, and prevent complications such as sternal dehiscence that could jeopardize the patient’s recovery. The growth of the Sternal Closure Systems Market is driven by factors such as the increase in the geriatric population undergoing open-heart surgery, technological advancements in sternotomy techniques, and the rise in the number of surgical procedures. The growing elderly population opting for median sternotomy, which provides easy access to heart valves and vessels, contributes significantly to market expansion.

The growing number of open-heart operations, as well as the rising global elderly population, are important factors driving market expansion. For instance, according to an NIH report published in June 2022, more than 2 million individuals worldwide undergo open-heart surgery each year to treat various cardiac diseases. Furthermore, according to a WHO estimate issued in October 2022, the proportion of the world’s population aged 60 and up and expected to rise to 1.4 billion by 2030 and 2.1 billion by 2050. Additionally, rise in the technological advancements and surge in the target patient population provide lucrative opportunities to the market. However, the increasing adoption of minimally invasive surgeries stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Sternal Closure Systems Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the escalating number of open-heart and coronary artery bypass grafting surgeries and the expanding geriatric population, coupled with the presence of advanced healthcare infrastructure. According to the Detroit Medical Center in 2022 reveals that around 500,000 individuals undergo open-heart surgery annually in the United States. Additionally, according to data released by the New Jersey Department of Health in August 2022, there were 17,291 open-heart surgeries performed in New Jersey in 2021. Asia Pacific is expected to grow significantly over the forecast period, owing to key players who are expanding their presence geographically and prioritizing the commercialization of their products at affordable prices. Additionally, the region is experiencing an increase in healthcare expenditure and improved infrastructure facilities, which, along with growing awareness about cardiac diseases and the availability of treatments contribute to further growth in the market.

Major market player included in this report are:
Zimmer Biomet
Medical Devices Business Services, Inc.
KLS Martin Group
Acute Innovations LLC
Stryker

JACE Medical, LLC
Abyrx, Inc.
Jeil Medical Corporation
Changzhou Waston Medical Appliance Co., Ltd.
Teleflex Incorporated

Recent Developments in the Market:
Ø In May 2022, Granulab (M) Sdn Bhd, a KPower Bhd subsidiary, unveiled Prosteomax, a synthetic bone cement certified halal. Prosteomax’s halal certification was confirmed by the Malaysian Islamic Development Department, and the Malaysian Medical Device Authority registered it for use in maxillofacial, orthopaedic, and craniofacial applications.
Ø In February 2022, Evonik Venture Capital made an investment in CircumFix Solutions, a startup based in Tennessee. CircumFix Solutions has developed an innovative sternal closure device that aids in the recovery of patients following open chest surgery.

Global Sternal Closure Systems Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Product, Procedure, Fixation Techniques, Material, End Users, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product:
Closure Devices
Bone Cement
By Procedure:
Median Sternotomy
Hemi sternotomy
Bilateral Thoraco sternotomy
By Fixation Techniques:
Wiring Fixation Techniques
Plate-Screw Systems
Interlocking Systems
Cementing
Vacuum Assisted Closure
By Material:
Stainless Steel
Peek
Titanium
Others
By End Users:
Hospitals
Specialized Surgical Centres

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Million)
1.2.1. Sternal Closure Systems Market, by Region, 2020-2030 (USD Million)
1.2.2. Sternal Closure Systems Market, by Product, 2020-2030 (USD Million)
1.2.3. Sternal Closure Systems Market, by Procedure, 2020-2030 (USD Million)
1.2.4. Sternal Closure Systems Market, by Fixation Techniques, 2020-2030 (USD Million)
1.2.5. Sternal Closure Systems Market, by Material, 2020-2030 (USD Million)
1.2.6. Sternal Closure Systems Market, by End Users, 2020-2030 (USD Million)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Sternal Closure Systems Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Sternal Closure Systems Market Dynamics
3.1. Sternal Closure Systems Market Impact Analysis (2020-2030)
3.1.1. Market Drivers
3.1.1.1. Increasing number of open-heart operations
3.1.1.2. Increase in the geriatric population

3.1.2. Market Challenges
3.1.2.1. Increasing Adoption of Minimally Invasive Surgeries
3.1.2.2. Side effects from Sternal Closure Systems
3.1.3. Market Opportunities
3.1.3.1. Rise in the technological advancements
3.1.3.2. Surge in target patient population
Chapter 4. Global Sternal Closure Systems Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Sternal Closure Systems Market, by Product
5.1. Market Snapshot
5.2. Global Sternal Closure Systems Market by Product, Performance – Potential Analysis
5.3. Global Sternal Closure Systems Market Estimates & Forecasts by Product 2020-2030 (USD Million)
5.4. Sternal Closure Systems Market, Sub Segment Analysis
5.4.1. Closure Devices
5.4.2. Bone Cement
Chapter 6. Global Sternal Closure Systems Market, by Procedure
6.1. Market Snapshot
6.2. Global Sternal Closure Systems Market by Procedure, Performance – Potential Analysis
6.3. Global Sternal Closure Systems Market Estimates & Forecasts by Procedure 2020-2030 (USD Million)
6.4. Sternal Closure Systems Market, Sub Segment Analysis
6.4.1. Median Sternotomy
6.4.2. Hemi sternotomy
6.4.3. Bilateral Thoraco sternotomy
Chapter 7. Global Sternal Closure Systems Market, by Fixation Techniques
7.1. Market Snapshot
7.2. Global Sternal Closure Systems Market by Fixation Techniques, Performance – Potential Analysis
7.3. Global Sternal Closure Systems Market Estimates & Forecasts by Fixation Techniques 2020-2030 (USD Million)
7.4. Sternal Closure Systems Market, Sub Segment Analysis
7.4.1. Wiring Fixation Techniques
7.4.2. Plate-Screw Systems
7.4.3. Interlocking Systems
7.4.4. Cementing
7.4.5. Vacuum Assisted Closure
Chapter 8. Global Sternal Closure Systems Market, by Material
8.1. Market Snapshot
8.2. Global Sternal Closure Systems Market by Material, Performance – Potential Analysis
8.3. Global Sternal Closure Systems Market Estimates & Forecasts by Material 2020-2030 (USD Million)
8.4. Sternal Closure Systems Market, Sub Segment Analysis
8.4.1. Stainless Steel
8.4.2. Peek
8.4.3. Titanium
8.4.4. Others
Chapter 9. Global Sternal Closure Systems Market, by End Users
9.1. Market Snapshot
9.2. Global Sternal Closure Systems Market by End Users, Performance – Potential Analysis
9.3. Global Sternal Closure Systems Market Estimates & Forecasts by End Users 2020-2030 (USD Million)
9.4. Sternal Closure Systems Market, Sub Segment Analysis
9.4.1. Hospitals
9.4.2. Specialized Surgical Centres
Chapter 10. Global Sternal Closure Systems Market, Regional Analysis
10.1. Top Leading Countries
10.2. Top Emerging Countries
10.3. Sternal Closure Systems Market, Regional Market Snapshot
10.4. North America Sternal Closure Systems Market
10.4.1. U.S. Sternal Closure Systems Market
10.4.1.1. Product breakdown estimates & forecasts, 2020-2030
10.4.1.2. Procedure breakdown estimates & forecasts, 2020-2030
10.4.1.3. Fixation Techniques breakdown estimates & forecasts, 2020-2030
10.4.1.4. Material breakdown estimates & forecasts, 2020-2030
10.4.1.5. End Users breakdown estimates & forecasts, 2020-2030
10.4.2. Canada Sternal Closure Systems Market
10.5. Europe Sternal Closure Systems Market Snapshot
10.5.1. U.K. Sternal Closure Systems Market
10.5.2. Germany Sternal Closure Systems Market
10.5.3. France Sternal Closure Systems Market
10.5.4. Spain Sternal Closure Systems Market
10.5.5. Italy Sternal Closure Systems Market
10.5.6. Rest of Europe Sternal Closure Systems Market
10.6. Asia-Pacific Sternal Closure Systems Market Snapshot
10.6.1. China Sternal Closure Systems Market
10.6.2. India Sternal Closure Systems Market
10.6.3. Japan Sternal Closure Systems Market
10.6.4. Australia Sternal Closure Systems Market
10.6.5. South Korea Sternal Closure Systems Market
10.6.6. Rest of Asia Pacific Sternal Closure Systems Market
10.7. Latin America Sternal Closure Systems Market Snapshot
10.7.1. Brazil Sternal Closure Systems Market
10.7.2. Mexico Sternal Closure Systems Market
10.8. Middle East & Africa Sternal Closure Systems Market
10.8.1. Saudi Arabia Sternal Closure Systems Market
10.8.2. South Africa Sternal Closure Systems Market
10.8.3. Rest of Middle East & Africa Sternal Closure Systems Market

Chapter 11. Competitive Intelligence
11.1. Key Company SWOT Analysis
11.1.1. Company 1
11.1.2. Company 2
11.1.3. Company 3
11.2. Top Market Strategies
11.3. Company Profiles
11.3.1. Zimmer Biomet
11.3.1.1. Key Information
11.3.1.2. Overview
11.3.1.3. Financial (Subject to Data Availability)
11.3.1.4. Product Summary
11.3.1.5. Recent Developments
11.3.2. Medical Devices Business Services, Inc.
11.3.3. KLS Martin Group
11.3.4. Acute Innovations LLC
11.3.5. Stryker
11.3.6. JACE Medical, LLC
11.3.7. Abyrx, Inc.
11.3.8. Jeil Medical Corporation
11.3.9. Changzhou Waston Medical Appliance Co., Ltd.
11.3.10. Teleflex Incorporated
11.4. Research Process
11.4.1. Data Mining
11.4.2. Analysis
11.4.3. Market Estimation
11.4.4. Validation
11.4.5. Publishing
11.5. Research Attributes
11.6. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

Need Assistance

Contact Person -
Krishant Mennon
Call us @
+ 91 99931 15879
Email: sales@bizwitresearch.com

Checkout

Why Choose Us?

Quality over Quantity

Backed by 60+ paid data sources our reports deliver crisp insights with no compromise quality.

Analyst Support

24x7 Chat Support plus
free analyst hours with every purchase

Flawless Methodology

Our 360-degree approach of market study, our research methods leave stones unturned.
Enquiry Now