Sternal Closure Systems Market Analysis

Global Sternal Closure Systems Market Overview

Sternal Closure Systems Market Size was valued at USD 1.9 billion in 2022. The Sternal Closure Systems market industry is projected to grow from USD 2.0045 Billion in 2023 to USD 2.72 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.5% during the forecast period (2023 - 2032). 

One of the main factors driving the market's growth is the growing number of older adults having open-heart surgery through a median sternotomy. Due to its simplicity and speedy access to the heart's valves and blood vessels, the median sternotomy operation has remained the most widely used method for cardiac exposure, thus driving the growth of the Sternal Closure Systems market. These are just a few of the market drivers that are driving the market.

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

Abyrx, a market player, achieved expanded FDA approval for its moldable bone putty, MONTAGE, in September 2023. With this new approval, the product can now be used in cardiothoracic surgery following sternotomy and is thus designed to improve sternal repair and closure by cardiac surgeons.

In May 2022, KPOWER, a subsidiary of Granulab, introduced Prosteomax, which is halal-certified synthetic bone cement in Malaysia that can be applied for dental, orthopedics, cranial and maxillofacial.

For example, In February 2022, Evonik Venture Capital invested in a U.S.-based start-up called CircumFix Solutions, which has developed an innovative sternal closure instrument that helps patients recover faster after open heart surgery. This device is made from high-performance polymer and secures the sternum after surgery.

The ValkyrieTM Thoracic Fixation System was launched by Able Medical Devices in June 2021. It is the first radiolucent plating system on the market designed as single-use only specifically for cases of open-heart surgery with osteotomy bridgingandsternum valve sealing

Montage Bone Putty (MBP) is a pipeline medical product from Abyrx Inc. Settable, re-absorbable hemostatic bone putty is currently undergoing Phase 2 clinical trials to compare how well patients with medical sternotomies heal after surgery using montage putty and conventional wires vs. traditional wires alone.

In the year 2020, WEGO-STAINLESS STEEL, which was approved by the US Food and Drug Administration (FDA) through the 510(k) process as provided for by Foosin Medical Supplies Inc., Ltd., is used in abdominal wound closure, hernia repair, sternal closure and orthopedic surgeries among others.

Sternal Closure Systems Market Trends

• 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.

Due to the rise in non-communicable disease burden and injuries, emerging nations are also concentrating on investing in public healthcare infrastructure, which will further increase the number of surgical procedures there. According to figures released by the World Bank, China spent USD 425.6 on healthcare per person in 2015 or 5.3% of GDP. Furthermore, according to the Plan of Health China 2030, healthcare spending will represent 6.5% to 7% of the nation's GDP by 2020. Thus, it is anticipated that this aspect will accelerate Sternal Closure Systems market revenue.

Sternal Closure Systems Market Segment Insights

Sternal Closure Systems Product Insights

The Sternal Closure Systems market segmentation, based on product includes closure devices, bone cement. The closure devices segment held the majority share in 2022 in the  Sternal Closure Systems market data. The primary causes of the segment's predominant share include increased per capita spending in developed and emerging nations and variables like product launches. Compared to bone cement, these devices have shown advantages such as reduced surgical problems and infections and a quicker recovery time. Also, boosting the category expansion shortly is likely due to the increased efforts made by major market players to launch new methods and product lines.

Sternal Closure Systems Procedure Insights

The  Sternal Closure Systems market segmentation, based on procedure, includes median sternotomy, bilateral thoracosternotomy. The includes median sternotomy segment dominated the market growth in 2022 and is projected to be the faster-growing segment during the forecast period, 2023-2032. To easily reach the heart, lungs, and surrounding structures during heart valve replacement surgery and coronary artery bypass surgery, median sternotomies are regularly performed osteotomies throughout the world. Moreover, median sternotomies lessen problems and post-operative infections, raising  demand for them, hence contributing in the growth of the Sternal Closure Systems market.

Figure 2 Sternal Closure Systems Market, by Procedure, 2022 & 2032 (USD Billion)

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

Sternal Closure Systems Closure Material Insights

The  Sternal Closure Systems market segmentation, based on closure material includes stainless steel, and titanium. The titanium segment held the majority share in 2022 in the Sternal Closure Systems market data. Its dominance is brought about by benefits such as titanium's biocompatibility, ability to join human bones, and corrosion resistance efficiently. Also, the non-ferromagnetic quality of these materials, which enables patients with titanium implants to be safely scanned using an MRI, is accelerating their uptake in the market.

Sternal Closure Systems End-User Insights

The Sternal Closure Systems market segmentation, based on end-user, includes vegetables, fruits, flowers, others. The vegetables segment dominated the market growth in 2022 and is projected to be the faster-growing segment during the forecast period, 2023-2032. The growing use of Sternal Closure Systems in hospitals and the availability of reasonably priced healthcare in clinics are related. In the next years, the requirement for new installations is anticipated to expand due to the rising number of hospital mergers and acquisitions and ophthalmology clinic purchases. It is projected that these elements will propel the segment, hence contributing in the growth of the Sternal Closure Systems market.

Sternal Closure Systems Regional Insights

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.

Sternal Closure Systems Key Market Players & Competitive Insights

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.

Key Companies in the Sternal Closure Systems market includes

• Depuy Synthes


• Zimmer Biomet Holdings


• Orthofix International N.V.


• A&E Medical


• Kinamed Incorporated


• Abyrx


• Jace Medical


• Jeil Medical Corporation


• and Acute Innovations

Sternal Closure Systems Industry Developments

May 2022 Prosteomax, a halal-certified synthetic bone cement, has been introduced by Granulab (M) Sdn Bhd, a 70%-owned subsidiary of KPower Bhd. Prosteomax was certified as halal by the Malaysian Islamic Development Department and licensed with the Malaysian Medical Device Authority for use in orthopedic, cranial, dental, and maxillofacial applications.

February 2022 CircumFix Solutions, a Tennessee-based start-up that has developed a ground-breaking sternal closure device to help patient recovery following open chest surgery, has received investment from Evonik Venture Capital.

Sternal Closure Systems Market Segmentation

Sternal Closure Systems Product Outlook (USD Billion, 2018-2030)

• Closure Devices


• Bone Cement

Sternal Closure Systems Procedure Outlook (USD Billion, 2018-2030)

• Median Sternotomy


• Bilateral Thoracosternotomy

Sternal Closure Systems Closure Material Outlook (USD Billion, 2018-2030)

• Stainless Steel


• Titanium

 Sternal Closure Systems End-User Outlook (USD Billion, 2018-2030)

• Hospitals


• Clinics

Sternal Closure Systems Regional Outlook (USD Billion, 2018-2030)

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America