Sternal Closure Systems Market is expected to reach US$ 5.74 billion by 2030

Publisher: The Insight Partners

Increasing Technological Developments in Sternotomy Techniques Anticipated to be Global Sternal Closure Systems Market Trend

According to our new research study on "Sternal Closure Systems Market Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis," the market is expected to grow from US$ 3.88  billion in 2022 to US$ 5.74 billion by 2030; it is anticipated to record a CAGR of 5.0% from 2022 to 2030. Key factors driving the market are a rise in the patient population, an increase in surgical procedures, a large senior population undergoing open heart surgery, and rising technological innovation in sternotomy techniques. However, the product recalls hinder the sternal closure systems market growth.  

A sternal closure is utilized to close the sternum after heart and chest cavity surgery. Closure of the sternum is one of the effective procedures to control the incidence of wound dehiscence. Sternum closure devices comprise plates, wires, screws, and cables, and these devices are made of titanium, PEEK, or stainless steel. Of these materials, titanium held the largest sternal closure systems market share. Factors such as technological innovation in sternotomy techniques, a rise in the patient population suffering from cardiovascular diseases, an increase in the number of surgical procedures, a large senior population undergoing open heart surgery, and an increase in the availability of medical reimbursements in developed countries are expected to propel the demand for sternal closure systems during the forecast period. Moreover, owing to a rise in the noncommunicable disease burden and injuries in emerging economies, there is an increase in public healthcare infrastructure investment. This is anticipated to boost the number of surgical procedures across several developing countries.

Sternal Closure Systems Market, by Geography, 2022 (%)

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Source: The Insight Partners Analysis

Sternal Closure Systems Market Driving Factors

The increasing number of open-heart surgeries and the rising geriatric populace propel the sternal closure systems market growth. For instance, according to the National Institute of Health article published in June 2022, more than 2 million people undergo open-heart surgery yearly to treat multiple heart problems globally. As per the same source, almost 400,000 coronary artery bypass graft surgeries are performed each year, making it the most frequently performed major surgical procedure. Therefore, the rising number of open-heart surgeries is anticipated to augment the market growth during the forecast period. Moreover, as per the World Health Organization (WHO) report published in October 2022, the global population aged 60 years and over will grow to 1.4 billion by 2030 and reach 2.1 billion by 2050.

Additionally, the sternal closure systems market size is expected to increase due to continuous developments in sternotomy techniques and devices. Also, the preference for minimal invasive median sternotomy procedures is increasing as a safe and effective treatment option. This has led to the development of stronger and biocompatible sternal closure techniques to improve patient outcomes and reduce the risk of complications. Moreover, market players are involved in launching new products to meet growing consumer demand worldwide. For instance, in March 2021, Arthrex introduced the FiberTape sternal closure system, which is claimed to be a purely nonmetallic and suture-based solution indicated for cardiothoracic surgery. This device is designed to provide a strong and biomechanically effective solution for median sternotomy. It enables surgeons to deliver uniform compression, ensuring sternal approximation and long-term stabilization.

Furthermore, in October 2022, NEOS Surgery received the US Food and Drug Administration (FDA) 510(k) approval for the STERN FIX sternal stabilization system. The system is made from a unique material that combines carbon fiber with a PEEK polymer matrix. This provides stiffness similar to that of a bone, which helps reduce the risk of bone cut-through and ensures secure sternum fixation.

Therefore, technological developments in sternotomy techniques are expected to be global sternal closure systems market trends.

Sternal Closure Systems Market Analysis Based on Segmental Evaluation:

The sternal closure systems market is segmented as follows:

The market, by product, is bifurcated into closure devices and bone cement. In 2022, the closure devices segment held a larger share and is expected to register a higher CAGR in the market from 2022 to 2030. The market, by closure devices, is categorized into sternal closure wires, sternal closure plates and screws, sternal closure clips, sternal closure cables.

Based on procedure, the market is subsegmented into median sternotomy, hemisternotomy, bilateral thoracosternotomy, and others. The median sternotomy segment held the largest sternal closure systems market share in 2022 and is projected to register the highest CAGR from 2022 to 2030. Median sternotomy is preferred for valve surgery and reoperative settings for patients with favorable body habitus as it provides better cosmetic outcomes and is less traumatic.

In terms of material, the market is further divided into titanium, polyether ether ketone, stainless steel, and others. In 2022, the titanium segment held the largest share and polyether ether ketone is expected to register the highest CAGR in the market from 2022 to 2030.

The scope of the sternal closure systems market report focuses on North America (the US, Canada, and Mexico), Europe (Germany, France, Italy, the UK, Spain, and the Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and the Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

Apart from highlighting factors affecting the market, the sternal closure systems market report depicts the developments of prominent players. Johnson & Johnson Services, Inc., A&E Medical Corporation, B. Braun Melsungen AG, DePuy Synthes, Acute Innovations LLC, KLS Martin Group, IDEAR S.R.L., Zimmer Biomet Holdings, Inc., ABYRX, Inc., and Kinamed, Inc. are among the top players operating in the market.  The companies have been implementing various strategies that contribute to their growth and led to various changes in the market. The companies utilize organic strategies (such as product launches, expansion, and product approvals) and inorganic strategies (such as collaborations and partnerships) to stay competitive in the market.

The sternal closure systems market forecast can help stakeholders in this marketplace plan their growth strategies. A few initiatives taken by key players operating in the global sternal closure systems market are listed below:

In February 2022, CircumFix Solutions received an investment ~US$ 17 million from Evonik Venture Capital for developing new sternal closure orthopedic device. This device stabilizes the sternum post-surgery by utilizing Evonik’s high-performance polymer.

Similarly, in March 2021, A&E Medical Corporation received product approval for its Tritium Sternal Cable Plate System. This product is intended for the stabilization and fixation of fractures of the anterior chest wall, including sternal fixation following sternotomy and sternal reconstructive surgical procedures.

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