Sternal Closure Systems Market – Trends forecast Till 2030

Market Snapshot

Market Overview

The global Sternal Closure Systems market size was estimated at USD 2.1 billion in 2023 and is projected to reach USD 3.17 billion in 2030 at a CAGR of 5.3% during the forecast period 2023-2030.

Sternal closure systems refer to the systems that are used in the fixation and stabilization of fractures of the anterior chest wall. The systems widely utilized in sternal fixation following sternal reconstructive surgical procedures for the purpose of promoting fusion.

The growth of the industry is driven by the increase in cardiac and thoracic surgeries, the introduction of innovative sternal closure systems and the increase in the number of elderly people worldwide. In addition, median sternotomy provides easy and quick access to heart valves and blood vessels, making it one of the most feasible sternal closure procedures.

The widespread use of innovative closure techniques due to the increase in the number of cardiothoracic surgical procedures can also be explained by the increase in the number of elderly people undergoing open heart surgery via median antrectomy. Because of its simplicity and rapid access to the valves and blood vessels, the median sternotomy remained the most commonly used method to expose the heart cavity.  Accelerating technological improvements, including the use of biocompatible polymers such as polyether ether ketone (PEEK) and kryptonite bone cement, as well as pre-sternotomy plates and the emergence of minimally invasive median sternotomy procedures, are also likely to drive the expansion of the industry. The demand for surgical instruments has increased dramatically due to the increase in the number of surgical operations worldwide. In addition, the older population is at greater risk of cardiovascular disease due to poor diet and lack of exercise.

 In addition, due to the increase in non-communicable diseases and serious injuries, developing countries also spend significantly on public medical infrastructure, which in turn significantly increases the number of surgical procedures here.

COVID-19 significantly affected the growth of the sternal closure system market due to strict lockdown regulations and shortage of sternal closure products in the early stages of the pandemic. Healthcare providers were also working with COVID-19 patients, access was limited to primary care, and the temporary closure of cardiology centers severely limited sternal procedures. According to a BMC study published in March 2021, a global study showed a 50% reduction in cardiac surgery during the pandemic and a 50% reduction in cardiac and intensive care beds in 2020. So, the impact is significant, cardiac surgery also had a significant impact on the sternal closure system, which contributed to the growth of the market.

Delvens Industry Expert's Standpoint

The pandemic had a considerable impact on businesses globally, with nations like India and China bearing the brunt of the virus's outbreak. Yet The Closure Devices industry dominated the global sternal closure systems market in 2021 and is anticipated to maintain its dominance throughout the forecast period. In 2021, the titanium devices had a sizable market share and are anticipated to increase at the fastest rate throughout the projection period. In 2021, North America dominated the global sternal closure systems market due to the presence of leading companies and the high prevalence of CVDs such as cardiac arrest and valvular heart disease in the zone.

Market Portfolio

Key Findings

• The product segment is divided into closure devices and bone cement, with the former expected to maintain its dominant position in the industry; It also contributed the largest share of the revenue, 60% in 2022. The main drivers of that higher share are the introduction of new parts and the increase in surgical costs per capita in both developed and developing economies. Compared to bone cement, these devices had advantages such as reduced postoperative complications and infections. In addition, they have shown that patients recover faster. Moreover, this category is driven by the efforts of key players by introducing new technologies and products for breast closure.

• The procedure segment is divided into hemisternotomy, bilateral thoracosternotomy, median sternotomy, and others. Of these, mediasteronotomy accounted for the largest share, approximately 55% in 2022. This procedure is the most common osteotomy in the world to allow easy access to the heart, lungs and surrounding structures during heart valve surgery and coronary artery bypass grafting. This is because it reduces the likelihood of problems such as skeletal complications, hardware problems including wire rotation or displacement; and postoperative infections. The incision allows access to both pleural spaces, making it useful for several thoracic procedures, including sternal goitre and esophagectomy.
   
• The material segment is further bifurcated into stainless steel, polyether ketone and titanium. The titanium material dominated the demand for sternal closure systems, accounting for the majority of sales. Titanium's superiority can be attributed to its corrosion resistance, ability to efficiently enter human bones, and biocompatibility. Furthermore, titanium's non-ferromagnetic property, which enables patients with titanium implants to be examined safely under an MRI scan, is boosting the material's market penetration. Besides that, the high effectiveness, non-toxic quality, and reliability of titanium materials, and enhanced economic viability and profitability for innovative titanium clips and plates in both emerging and developed countries, are expected to boost the adoption of titanium-based sternal closure systems.
   
• The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. North America is estimated to account for the largest market share during the forecast period. With a large group of patients and well-established medical insurance programs, North America accounted for the largest significant market share. Additionally, the market for sternal closure systems is being fueled by an increase in joint efforts made by several key players to enhance their product offerings and maintain high-quality standards.

Regional Analysis

North America to Dominate the Market

• North America is estimated to account for the largest market share during the forecast period because of the prevalence of heart-related disorders such as cardiac arrest and valvular heart disease within the region.