Sternal Closure Systems Market by Product (Bone Cement, Closure Devices (Screw, Wire, Plate, Cable,)), Procedure (Bilateral Thoracosternotomy, Hemisternotomy, Median Sternotomy), Material (Peek, Titanium, Stainless Steel) – 2024 to 2029

SKU: GMS-1255

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OVERVIEW

Research by Global Market Studies has reported a CAGR of 5.3% for the Sternal Closure Systems Market, expecting to expand to a value of USD 3,388.81 million by 2028.

The sternal closure systems market refers to the medical devices and techniques used to close the sternum, the flat bone at the center of the chest, after open-heart surgery or other surgical procedures that involve cutting the sternum. The sternum is closed after surgery to protect the heart and surrounding organs and promote proper healing. Sternal closure systems are crucial in ensuring the stability and integrity of the sternum during the healing process.

Sternal closure systems are used in cardiac, thoracic, orthopedic, trauma, and plastic surgeries to ensure proper healing, protect organs, and stabilize the sternum during healing.

Market Dynamics

Drivers:

The increasing prevalence of cardiovascular diseases, such as coronary artery disease and valvular heart diseases, has led to a demand for cardiac surgeries. Surgical techniques have also improved, resulting in more complex and minimally invasive surgeries. 

The aging population is more prone to cardiovascular diseases, contributing to the growth of the sternal closure systems market. Technological advancements in closure systems have improved effectiveness, safety, and patient outcomes. Healthcare providers prioritize patient safety and surgical outcomes, leading to increased adoption of advanced systems. Emerging healthcare infrastructure in emerging economies has also increased access to surgical interventions, further boosting the demand for sternal closure systems.

Opportunities:

Sternal plates, wires, closure devices, bioabsorbable systems, minimally invasive systems, customized systems, and support and training are all essential components for ensuring proper healing during surgery. These rigid metal plates stabilize the sternum, providing secure fixation and reducing the risk of sternal dehiscence. Wires, made of stainless steel or titanium, hold the edges of the sternum together, providing additional support during the healing phase. 

Bioabsorbable closure systems gradually degrade and are absorbed by the body over time, reducing device removal after healing. Minimally invasive closure systems promote faster recovery and reduce tissue trauma. Customized closure systems are tailored to individual patients’ anatomies, ensuring a better fit and optimal closure. Manufacturers may also offer training and support services for healthcare professionals on proper use and application of their sternal closure systems.

Restraints:

Advanced sternal closure systems face high costs, limited healthcare access, and strict regulatory requirements, which may hinder adoption in some regions with budget constraints. Insufficient healthcare infrastructure and surgical interventions may reduce demand for these systems. 

Meeting regulatory standards can be lengthy and expensive, hindering market growth for smaller manufacturers. Additionally, some devices carry risks of infection, improper healing, and adverse events, impacting their acceptance in the market. Patients and healthcare providers may prefer non-invasive treatments, reducing the demand for surgical sternal closure systems.

Regional Information:

North America:This region has a well-established healthcare infrastructure, a high prevalence of cardiovascular diseases, and a strong emphasis on advanced surgical techniques, which contributes to the demand for sternal closure systems.

Europe: European countries have relatively high healthcare standards and access to advanced medical technologies, making them a significant market for sternal closure systems

Asia-Pacific: The Asia-Pacific region experiences a rising burden of cardiovascular diseases and an increasing demand for cardiac surgeries. However, the market may be influenced by varying levels of healthcare development and affordability in different countries.

Recent Developments:

In May 2022, Granulab (M) Sdn Bhd, a subsidiary of KPower Bhd, launched Prosteomax, a halal-certified synthetic bone cement. The Malaysian Islamic Development Department validated Prosteomax as halal and registered it with the Malaysian Medical Device Authority for orthopedics, cranial, dental, and maxillofacial applications.

In February 2022, Evonik Venture Capital invested in CircumFix Solutions, a Tennessee-based start-up that has created a revolutionary sternal closure device to aid patient recovery after open chest surgery.

Key Players:

Johnson & Johnson, Zimmer Biomet Holdings, KLS Martin Group, Acumed, LLC (Colson Medical, LLC), A&E Medical, Idear S.R.L, Praesidia SRL, Kinamed Incorporated.

Frequently Asked Questions

1) What is the projected market value of the Sternal Closure Systems Market?

– The Sternal Closure Systems Market is expected to reach a value of USD 3,388.81 million by 2028.

2) What is the estimated CAGR of the Sternal Closure Systems Market over the 2023 to 2028 forecast period?

– The Sternal Closure Systems Market is expected to grow at a CAGR of approximately 5.3% from 2023 to 2028.

3) Who are the key players in the Sternal Closure Systems Market?

– Johnson & Johnson, Zimmer Biomet Holdings, KLS Martin Group, Acumed, LLC (Colson Medical, LLC), A&E Medical, Idear S.R.L, Praesidia SRL, Kinamed Incorporated

4) What are the drivers for the Sternal Closure Systems Market?

– Cardiovascular diseases increase demand for cardiac surgeries, with advanced techniques and aging population driving growth in sternal closure systems market.

5) What are the restraints and challenges in the Sternal Closure Systems Market?

– Advanced sternal closure systems face high costs, limited healthcare access, and strict regulatory requirements, hindering adoption in budget-constrained regions. Insufficient healthcare infrastructure and surgical interventions may reduce demand. Risks of infection, improper healing, and adverse events may impact acceptance.

6) What are the key applications and offerings of the Sternal Closure Systems Market?

– Sternal closure systems are used in cardiac, thoracic, orthopedic, trauma, and plastic surgeries to ensure proper healing, protect organs, and stabilize the sternum during healing.

7) Which region is expected to drive the market for the forecast period?

– Asia Pacific has the highest value share in the global market and is expected to dominate shares in forecast period.

Why Choose Us?

Insights into Market Trends: Global Market Studies reports provide valuable insights into market trends, including market size, segmentation, growth drivers, and market dynamics. This information helps clients make strategic decisions, such as product development, market positioning, and marketing strategies.

Competitor Analysis: Our reports provide detailed information about competitors, including their market share, product offerings, pricing, and competitive strategies. This data can be used to inform competitive strategies and to identify opportunities for growth and expansion.

Industry Forecasts: Our reports provide industry forecasts, which will inform your business strategies, such as investment decisions, production planning, and workforce planning. These forecasts can help you to prepare for future trends and to take advantage of growth opportunities.

Access to Industry Experts: Our solutions include contributions from industry experts, including analysts, consultants, and subject matter experts. This access to expert insights can be valuable for you to understand the market.

Time and Cost Savings: Our team at Global Market Studies can save you time and reduce the cost of conducting market research by providing comprehensive and up-to-date information in a single report, avoiding the need for additional market research efforts.

METHODOLOGY

At Global Market Studies, extensive research is done to create reports which have in-depth insights across all aspects of the market such as drivers, opportunities, challenges, restraints, market trends, regional insights, market segmentation, latest developments, key players for the forecast period. Multiple methods are used to derive both qualitative and quantitative information for the report:Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 1

PRIMARY RESEARCH

Through surveys and interviews, primary research is sourced mainly from experts from the core and related industry. It includes distributors, manufacturers, Directors, C-Level Executives and Managers, alliances certification organisations across various segments of the markets value chain. Both the supply-side and demand-side is interviewed.

Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 2

SECONDARY RESEARCH

Our sources of secondary research include Annual Reports, Journals, Press Releases, Company Websites, Paid Databases and our own Data Repository. They also include, investor presentations, certifies publications and articles by authorised regulatory bodies, trade directories and databases.

Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 3

MARKET SIZE ESTIMATION

After extensive secondary and primary research, both the Bottom-up and Top-down methods are used to analyse the data. In the Bottom-up Approach, Company revenues across multiple segments are gathered to derive the percentage split per market segment. From this the Segment wise market size is derived to give the Total Market Size. In the Top-down Approach the reverse method is used where the Total Market Size is first derived from primary sources and is split into Market Segment, Regional Split and so on.

Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 4Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 5

Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 6

DATA TRIANGULATION:

All statistics are collected through extensive secondary research and verified by interviews conducted with supply-side and demand-side in the primary research to ensure that both primary and secondary data percentages, statistics and findings corroborate.

Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 7

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OVERVIEW

Research by Global Market Studies has reported a CAGR of 5.3% for the Sternal Closure Systems Market, expecting to expand to a value of USD 3,388.81 million by 2028.

The sternal closure systems market refers to the medical devices and techniques used to close the sternum, the flat bone at the center of the chest, after open-heart surgery or other surgical procedures that involve cutting the sternum. The sternum is closed after surgery to protect the heart and surrounding organs and promote proper healing. Sternal closure systems are crucial in ensuring the stability and integrity of the sternum during the healing process.

Sternal closure systems are used in cardiac, thoracic, orthopedic, trauma, and plastic surgeries to ensure proper healing, protect organs, and stabilize the sternum during healing.

Market Dynamics

Drivers:

The increasing prevalence of cardiovascular diseases, such as coronary artery disease and valvular heart diseases, has led to a demand for cardiac surgeries. Surgical techniques have also improved, resulting in more complex and minimally invasive surgeries. 

The aging population is more prone to cardiovascular diseases, contributing to the growth of the sternal closure systems market. Technological advancements in closure systems have improved effectiveness, safety, and patient outcomes. Healthcare providers prioritize patient safety and surgical outcomes, leading to increased adoption of advanced systems. Emerging healthcare infrastructure in emerging economies has also increased access to surgical interventions, further boosting the demand for sternal closure systems.

Opportunities:

Sternal plates, wires, closure devices, bioabsorbable systems, minimally invasive systems, customized systems, and support and training are all essential components for ensuring proper healing during surgery. These rigid metal plates stabilize the sternum, providing secure fixation and reducing the risk of sternal dehiscence. Wires, made of stainless steel or titanium, hold the edges of the sternum together, providing additional support during the healing phase. 

Bioabsorbable closure systems gradually degrade and are absorbed by the body over time, reducing device removal after healing. Minimally invasive closure systems promote faster recovery and reduce tissue trauma. Customized closure systems are tailored to individual patients’ anatomies, ensuring a better fit and optimal closure. Manufacturers may also offer training and support services for healthcare professionals on proper use and application of their sternal closure systems.

Restraints:

Advanced sternal closure systems face high costs, limited healthcare access, and strict regulatory requirements, which may hinder adoption in some regions with budget constraints. Insufficient healthcare infrastructure and surgical interventions may reduce demand for these systems. 

Meeting regulatory standards can be lengthy and expensive, hindering market growth for smaller manufacturers. Additionally, some devices carry risks of infection, improper healing, and adverse events, impacting their acceptance in the market. Patients and healthcare providers may prefer non-invasive treatments, reducing the demand for surgical sternal closure systems.

Regional Information:

North America:This region has a well-established healthcare infrastructure, a high prevalence of cardiovascular diseases, and a strong emphasis on advanced surgical techniques, which contributes to the demand for sternal closure systems.

Europe: European countries have relatively high healthcare standards and access to advanced medical technologies, making them a significant market for sternal closure systems

Asia-Pacific: The Asia-Pacific region experiences a rising burden of cardiovascular diseases and an increasing demand for cardiac surgeries. However, the market may be influenced by varying levels of healthcare development and affordability in different countries.

Recent Developments:

In May 2022, Granulab (M) Sdn Bhd, a subsidiary of KPower Bhd, launched Prosteomax, a halal-certified synthetic bone cement. The Malaysian Islamic Development Department validated Prosteomax as halal and registered it with the Malaysian Medical Device Authority for orthopedics, cranial, dental, and maxillofacial applications.

In February 2022, Evonik Venture Capital invested in CircumFix Solutions, a Tennessee-based start-up that has created a revolutionary sternal closure device to aid patient recovery after open chest surgery.

Key Players:

Johnson & Johnson, Zimmer Biomet Holdings, KLS Martin Group, Acumed, LLC (Colson Medical, LLC), A&E Medical, Idear S.R.L, Praesidia SRL, Kinamed Incorporated.

Frequently Asked Questions

1) What is the projected market value of the Sternal Closure Systems Market?

– The Sternal Closure Systems Market is expected to reach a value of USD 3,388.81 million by 2028.

2) What is the estimated CAGR of the Sternal Closure Systems Market over the 2023 to 2028 forecast period?

– The Sternal Closure Systems Market is expected to grow at a CAGR of approximately 5.3% from 2023 to 2028.

3) Who are the key players in the Sternal Closure Systems Market?

– Johnson & Johnson, Zimmer Biomet Holdings, KLS Martin Group, Acumed, LLC (Colson Medical, LLC), A&E Medical, Idear S.R.L, Praesidia SRL, Kinamed Incorporated

4) What are the drivers for the Sternal Closure Systems Market?

– Cardiovascular diseases increase demand for cardiac surgeries, with advanced techniques and aging population driving growth in sternal closure systems market.

5) What are the restraints and challenges in the Sternal Closure Systems Market?

– Advanced sternal closure systems face high costs, limited healthcare access, and strict regulatory requirements, hindering adoption in budget-constrained regions. Insufficient healthcare infrastructure and surgical interventions may reduce demand. Risks of infection, improper healing, and adverse events may impact acceptance.

6) What are the key applications and offerings of the Sternal Closure Systems Market?

– Sternal closure systems are used in cardiac, thoracic, orthopedic, trauma, and plastic surgeries to ensure proper healing, protect organs, and stabilize the sternum during healing.

7) Which region is expected to drive the market for the forecast period?

– Asia Pacific has the highest value share in the global market and is expected to dominate shares in forecast period.

Why Choose Us?

Insights into Market Trends: Global Market Studies reports provide valuable insights into market trends, including market size, segmentation, growth drivers, and market dynamics. This information helps clients make strategic decisions, such as product development, market positioning, and marketing strategies.

Competitor Analysis: Our reports provide detailed information about competitors, including their market share, product offerings, pricing, and competitive strategies. This data can be used to inform competitive strategies and to identify opportunities for growth and expansion.

Industry Forecasts: Our reports provide industry forecasts, which will inform your business strategies, such as investment decisions, production planning, and workforce planning. These forecasts can help you to prepare for future trends and to take advantage of growth opportunities.

Access to Industry Experts: Our solutions include contributions from industry experts, including analysts, consultants, and subject matter experts. This access to expert insights can be valuable for you to understand the market.

Time and Cost Savings: Our team at Global Market Studies can save you time and reduce the cost of conducting market research by providing comprehensive and up-to-date information in a single report, avoiding the need for additional market research efforts.

METHODOLOGY

At Global Market Studies, extensive research is done to create reports which have in-depth insights across all aspects of the market such as drivers, opportunities, challenges, restraints, market trends, regional insights, market segmentation, latest developments, key players for the forecast period. Multiple methods are used to derive both qualitative and quantitative information for the report:Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 1

PRIMARY RESEARCH

Through surveys and interviews, primary research is sourced mainly from experts from the core and related industry. It includes distributors, manufacturers, Directors, C-Level Executives and Managers, alliances certification organisations across various segments of the markets value chain. Both the supply-side and demand-side is interviewed.

Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 2

SECONDARY RESEARCH

Our sources of secondary research include Annual Reports, Journals, Press Releases, Company Websites, Paid Databases and our own Data Repository. They also include, investor presentations, certifies publications and articles by authorised regulatory bodies, trade directories and databases.

Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 3

MARKET SIZE ESTIMATION

After extensive secondary and primary research, both the Bottom-up and Top-down methods are used to analyse the data. In the Bottom-up Approach, Company revenues across multiple segments are gathered to derive the percentage split per market segment. From this the Segment wise market size is derived to give the Total Market Size. In the Top-down Approach the reverse method is used where the Total Market Size is first derived from primary sources and is split into Market Segment, Regional Split and so on.

Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 4Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 5

Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 6

DATA TRIANGULATION:

All statistics are collected through extensive secondary research and verified by interviews conducted with supply-side and demand-side in the primary research to ensure that both primary and secondary data percentages, statistics and findings corroborate.

Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 7

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