Sternal Closure Devices Market: Trends, Forecast, and Competitive Analysis to 2031

Executive Summary

The global Sternal Closure Devices Market is witnessing significant growth, with a projected CAGR of % during the forecasted period. This growth can be attributed to the rising prevalence of cardiovascular diseases, increasing number of surgical procedures, and technological advancements in sternal closure devices.

Some of the key market trends in the Sternal Closure Devices industry include the adoption of minimally invasive procedures, the development of titanium and bioresorbable materials for sternal closure devices, and the increasing focus on product innovation and customization by manufacturers.

In terms of geographical spread, North America is currently leading the market, followed by Europe and the Asia-Pacific region. The United States, in particular, is a key market due to the high prevalence of cardiovascular diseases and the presence of major market players in the region. China is also emerging as a lucrative market for sternal closure devices, attributed to the growing geriatric population and increasing healthcare expenditure in the country.

Overall, the global Sternal Closure Devices Market is poised for significant growth driven by factors such as the increasing burden of cardiovascular diseases, technological advancements, and the growing adoption of minimally invasive surgical procedures. Manufacturers in the industry are focusing on product innovation and customization to stay competitive in the market and capitalize on the growing demand for sternal closure devices.

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Market Segmentation:

This Sternal Closure Devices Market is further classified into Overview, Deployment, Application, and Region. 

In terms of Components, Sternal Closure Devices Market is segmented into:

• DePuy Synthes (US)
• Zimmer Biomet Holdings (US)
• A&E Medical (US)
• KLS Martin Group (US)
• Orthofix International N.V. (US)
• ABYRX (US)
• Acute Innovations (US)
• Kinamed Incorporated (US)
• Praesidia Srl (Italy)
• IDEAR S.R.L. (Argentina)

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The Sternal Closure Devices Market Analysis by types is segmented into:

• Wires
• Plates & Screws
• Clips
• Cables

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The Sternal Closure Devices Market Industry Research by Application is segmented into:

• Median Sternotomy
• Hemisternotomy
• Bilateral Thoracosternotomy

In terms of Region, the Sternal Closure Devices Market Players available by Region are:

North America:

• United States


• Canada

Europe:

• Germany


• France


• U.K.


• Italy


• Russia

Asia-Pacific:

• China


• Japan


• South Korea


• India


• Australia


• China Taiwan


• Indonesia


• Thailand


• Malaysia

Latin America:

• Mexico


• Brazil


• Argentina Korea


• Colombia

Middle East & Africa:

• Turkey


• Saudi


• Arabia


• UAE


• Korea

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Key Drivers and Barriers in the Sternal Closure Devices Market

Key drivers in the sternal closure devices market include increasing prevalence of cardiovascular diseases, rising geriatric population, growing number of cardiac surgeries, technological advancements in surgical procedures, and increasing adoption of minimally invasive techniques. Barriers in the market include high cost of devices, lack of skilled healthcare professionals, stringent regulatory requirements, and limited reimbursement policies.

Challenges faced in the market include intense competition among key players, slow adoption rate of advanced technologies in developing countries, concerns regarding the safety and efficacy of sternal closure devices, and the impact of the COVID-19 pandemic on healthcare systems and medical device supply chains.

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Competitive Landscape

One of the key players in the sternal closure devices market is DePuy Synthes, a subsidiary of Johnson & Johnson. DePuy Synthes is a leading global provider of medical devices, including sternal closure systems. The company has a strong track record of innovation and product development, and is known for its high-quality products and commitment to patient safety.

Another major player in the market is Zimmer Biomet Holdings, a global leader in musculoskeletal healthcare. The company offers a range of sternal closure devices, including the SternaLock Blu system. Zimmer Biomet has a strong presence in the market, with a wide distribution network and a reputation for excellence in surgical instrumentation.

In terms of market growth, the sternal closure devices market is expected to witness significant expansion in the coming years, driven by an increasing number of cardiac surgeries and a growing aging population. The market size is expected to reach USD billion by 2026, with a CAGR of 6.5% during the forecast period.

As for sales revenue, DePuy Synthes reported annual revenue of USD 9.6 billion in 2020, while Zimmer Biomet reported revenue of USD 7.1 billion in the same year. These figures highlight the strong market position of these companies and their significant presence in the sternal closure devices market.

Overall, the sternal closure devices market is highly competitive, with several key players vying for market share. Companies like DePuy Synthes and Zimmer Biomet are well-positioned to capitalize on opportunities for growth in the market, driven by increasing demand for cardiac surgery procedures and advancements in surgical technology.

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