Sternal Closure Systems Market

Increased demand for surgical operations to driving the market growth

Sedentary lifestyles increased alcohol and tobacco use, and poor diet is increasing the prevalence of heart disorders. As a result, surgical operations are increasing, which will likely accelerate the use of sternal closure devices in surgeries throughout the next years. The CDC found that 28.1 million adults in the U.S. had a heart disease diagnosis in 2016.

The demand for surgical instruments has increased due to an increase in surgical procedures performed around the world. The OECD estimates that in the U.K., there were about 399,952 surgical procedures in 2012; by 2016, that number had risen to 491,604. In addition, the senior population is more at risk for heart disease due to poor nutrition and inactivity. Also, the  demand for sternal closure systems is rising due to the aging population, which is more prone to chronic CVDs and is driving up the number of cardiovascular surgical procedures. Thus, this factor is driving the market CAGR.

The Global Sternal Closure Systems Market Industry is poised for substantial growth, with projections indicating a market value of 2.12 USD Billion in 2024 and an anticipated increase to 3.82 USD Billion by 2035. The expected CAGR of 5.5% from 2025 to 2035 reflects the ongoing demand for innovative sternal closure solutions. This growth trajectory suggests a robust market environment, driven by factors such as technological advancements, an aging population, and increased awareness of surgical options. The evolving landscape of healthcare and surgical practices will likely continue to shape the dynamics of the sternal closure systems market.

The increasing prevalence of cardiovascular diseases globally drives the demand for effective surgical interventions, thereby propelling the Global Sternal Closure Systems Market Industry. As cardiovascular conditions remain a leading cause of mortality, the need for surgeries such as coronary artery bypass grafting is paramount. In 2024, the market is projected to reach 2.12 USD Billion, reflecting the urgency for advanced sternal closure techniques. The growing awareness of surgical options and the importance of post-operative recovery further enhance the market's growth potential. This trend indicates a sustained demand for innovative sternal closure systems that ensure patient safety and optimal recovery.

Increased awareness of surgical options among patients and healthcare professionals plays a crucial role in shaping the Global Sternal Closure Systems Market Industry. Educational initiatives and patient advocacy programs have heightened understanding of the benefits of surgical interventions for various health conditions. This awareness leads to more patients seeking surgical solutions, thereby driving demand for sternal closure systems. As healthcare providers emphasize the importance of informed decision-making, the market is likely to experience growth. The focus on patient education and engagement may further enhance the adoption of advanced sternal closure technologies, contributing to overall market expansion.

Regulatory support and standardization in the medical device sector positively impact the Global Sternal Closure Systems Market Industry. Governments and health organizations are increasingly establishing guidelines and standards to ensure the safety and efficacy of surgical products. This regulatory framework fosters innovation and encourages manufacturers to develop advanced sternal closure systems that meet stringent quality requirements. As compliance with these regulations becomes essential, the market may witness an influx of new products designed to enhance surgical outcomes. The emphasis on safety and quality assurance is likely to bolster consumer confidence, further driving market growth.

Technological innovations in surgical techniques significantly influence the Global Sternal Closure Systems Market Industry. The introduction of minimally invasive procedures and robotic-assisted surgeries enhances surgical precision and reduces recovery times. These advancements not only improve patient outcomes but also increase the adoption of sternal closure systems. As healthcare providers seek to incorporate cutting-edge technology into their practices, the market is expected to grow. The anticipated CAGR of 5.5% from 2025 to 2035 underscores the potential for further innovation in sternal closure systems, which may lead to more effective and safer surgical interventions.

The global demographic shift towards an aging population contributes to the expansion of the Global Sternal Closure Systems Market Industry. Older adults are more susceptible to cardiovascular diseases and other conditions requiring surgical intervention. As the population aged 65 and older continues to grow, the demand for surgeries that necessitate sternal closure systems is likely to increase. This trend is evident in various regions, where healthcare systems are adapting to accommodate the rising number of surgical procedures. By 2035, the market is projected to reach 3.82 USD Billion, highlighting the significant impact of demographic changes on market dynamics.

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. European Sternal Closure Systems market accounted for USD 0.870 billion in 2022 with a share of around 45.80% and is expected to exhibit a significant CAGR growth during the study period. It is also projected that increased cooperative efforts made by major businesses to enhance their product offerings and guarantee high-quality standards will increase demand for systems throughout the region. For instance, the Cardiothoracic Closure division of RTI Surgical was purchased by A&E Medical Corporation in August 2017.

The Cardiothoracic Closure division of RTI Surgical provides cable-based plate products such as the Tritium SPC System. New product development, partnerships, partnerships, expansions, mergers, and acquisitions are the main strategies used by the organisations in the market.

Further, the major countries studied in the market report are The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3 STERNAL CLOSURE SYSTEMS MARKET SHARE BY REGION 2022 (%)

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Sternal Closure Systems market accounts for the second-largest market share. The market's expansion in Europe is impacted by several reasons, including the expansion of the public healthcare system, companies' increased attention on obtaining the CE mark, and an increase in daycare surgeries, among others. Additionally, it is predicted that the market in the region will be driven by the rising incidence of osteoarthritis, rising demand for joint implants, and increased daycare surgeries. Moreover, UK Sternal Closure Systems market held the largest market share, and the Germany Sternal Closure Systems market was the fastest growing market in the region.

Asia Pacific Sternal Closure Systems Market is expected to grow at the fastest CAGR from 2022 to 2030. Large patient populations, growing healthcare infrastructure, and rising healthcare spending all contribute to the market expansion in Asia Pacific. The proportion of people 65 and older in Japan is predicted to rise from 28 percent to 38 percent in 2050, following the 2019 Revision of World Population Prospects. The prevalence of cardiovascular disorders is consequently predicted to rise significantly. Hence, sternal closure system sales will increase in the next years.

Further, the China Sternal Closure Systems market held the largest market share, and the India Sternal Closure Systems market was the fastest-growing market in the region.

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Sternal Closure Systems market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, mergers and acquisitions, contractual agreements, increased investments, and collaboration with other organizations. Competitors in the Sternal Closure Systems industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies adopted by manufacturers in the  Sternal Closure Systems industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. In recent years, Sternal Closure Systems industry has provided medicine with some of the most significant benefits. The Sternal Closure Systems market major player such Depuy Synthes, Zimmer Biomet Holdings, Orthofix International N.V., A&E Medical, Kinamed Incorporated.

A&E Medical, established in 1968 and with its main office in Farmingdale, New Jersey, is a leading designer and manufacturer of a wide range of temporary cardiac pacing wires, including the MYO/Wire® Ultra-Thin and MYO/Wire® Ultra-Flex brands, disposable patient cables, and A&E Medical® Surgical Punch. These products include the A&E DoubleWireTM, the A&E Medical® Sternal Cable System, and the Thorecon®; Vance Street Capital purchased A&E Medical in 2016. Thornton Rigid Fixation System's 510(k) clearance from the U.S. FDA was announced by A&E Medical Company in January 2019.

This tool treats fractures of the anterior chest wall, including sternal fixations and sternotomies.

Based in Science Park Zwijnaarde in Ghent, Ablynx is a biopharmaceutical business Sanofi subsidiary specializing in nanobodies' research and development. March 2021 - Montage Bone Putty, a pipeline medical product from Abyrx Inc., is a settable, re-absorbable hemostatic bone putty. It is currently undergoing Phase 2 clinical trials to compare how well cardiac patients with medical sternotomies heal after surgery using montage putty and conventional wires versus conventional wires alone.