Sternal Closure Systems Market worth $2.9 billion by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO, Nov. 18, 2022 /PRNewswire/ -- Sternal Closure Systems Market is projected to reach USD 2.9 billion by 2027 from USD 2.3 billion in 2022, at a CAGR of 5.1% during the forecast period. according to a new report by MarketsandMarkets™. The rising adoption of advanced technology drives the sternal closure systems market for sternotomy procedures and favourable medical reimbursement across major markets. Increasing research activities for sternal closure procedures, emerging markets, and growth in the number of hospitals & surgical centers are expected to provide lucrative growth opportunities for the sternal closure systems market.
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The closure devices accounted for the largest share of the sternal closure systems market, by product segment, in 2021
The global sternal closure systems market is segmented into closure devices and bone cement based on product. In 2021, closure devices accounted for the largest share of the global sternal closure systems market. This is mainly due to factors such as the increasing number of complex cardiovascular surgeries and the increasing efficiency of closure devices.
Median sternotomy segment to register the highest growth rate among sternal closure systems during the forecast period
The global sternal closure systems market is segmented into median sternotomy, hemisternotmy, and bilateral thoracosternotomy, based on procedure. The median sternotomy segment accounted for the largest share of the sternal closure systems market in 2021, owing to the increasing patient population for cardiovascular diseases.
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Asia Pacific to observe highest growth rate for sternal closure systems market during the forecast period.
The global sternal closure systems market has been segmented into four major regions—North America, Europe, the Asia Pacific, and the Rest of the World. The sternal closure systems market in several Aisa Pacific countries is expected to witness high groth during the forecast period owing to the rapid growth in the healthcare expenditure in emerging APAC countries (such as China and India), and the growing adoption of advanced sternum closure techniques among cardiothoracic surgeons.
The major players operating in this market are DePuy Synthes (US), Zimmer Biomet Holdings, Inc. (US), KLS Martin Group (US), B. Braun SE (Germany), Stryker (US), Teleflex Incorporated (US), Acumed LLC (US), IDEAR S.R.L (Argentina), Kinamed Incorporated (US), Able Medical Devices (US), Praesidia Srl (Italy), Abyrx, Inc. (US), Dispomedica (Germany), Jeil Medical Corporation (South Korea), Changzhou Waston Medical Appliance Company Limited (China), Neos Surgery (Spain), Ortolog Medical (Turkey), Medicon EG (Germany), MedXpert GmbH (Germany), CircumFix Solutions (US), Invibio Ltd. (UK), Arthrex, Inc. (US), T T K Health Care Ltd. (India), Lotus Surgicals (India), and Peters Surgical (India) and Among others
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