Sternal Closure Systems Market, By Product (Wires, Plates and Screws, Bone Cement, Cable, Clips, Others), Procedure (Median Sternotomy, Hemisternotomy, Bilateral Thoracosternotomy), Material (Stainless Steel, Polyether Ether Ketone, Titanium), Fixation Techniques (Wiring Fixation Techniques, Plate-Screw Systems, Interlocking Systems, Cementing, Vacuum Assisted Closure), End Users (Hospitals, Specialized Surgical Centres) and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).
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.
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.
North America to Dominate the Market