Sternal Closure Systems Market: Closure Devices Expected to Hold Significant Market Share

Introduction

Sternum closure systems are used to close the sternum that is the last step in heart surgery and surgeries of the thoracic cavity that necessitate sternal closure. The sternal closure systems market size is estimated to increase in the coming years due to increasing cardiovascular patients across the globe.  According to WHO, more people die annually from CVDs than from any other cause. An estimated 17.9 million people died from CVDs in 2016, representing 31% of all global deaths. Of these deaths, 85% are due to heart attack and stroke.

Drivers and restraints of Sternal Closure Systems Market

The increase in the patient population requiring cardiovascular surgeries and sternal closure surgeries is estimated to drive the market across the globe. As per WHO, cardiovascular diseases are the leading cause of death globally, with an estimated 17.9 million deaths in 2016, representing 31% of all global deaths. Technological advancements in sternotomy techniques will also boost the sternal closure systems market growth. Favorable reimbursement policies across the major markets will also be a major factor bolstering the growth of the sternal closure systems market. However, procedural risks associated with the sternal closure procedures coupled with a lack of skilled professionals to perform the sternal closure procedures will restrain the growth of the market during the given time frame.

Market Segmentation

         

Supply chain studies show that the sternal closure systems market is segmented by type, sternotomy, material, and geography. By type, the market is segmented into closure devices, bone cement. The market of closure devices is expected to have a significant market share on account of rising cases of cardiovascular surgeries across the globe. By sternotomy, the market is segmented into median sternotomy, hemisternotomy, and bilateral thoracosternotomy. The median sternotomy segment is expected to grow at a rapid pace owing to wide-scale usage of this procedure accessing the body cavity. The market is expected to grow at a rapid pace due to the increasing number of cardiovascular surgeries.  By material, the market is segmented into stainless steel, titanium, and polyether ether ketone (PEEK). The titanium segment is expected to grow at a rapid pace in the coming years.

Geographically, North America is expected to have a significant market share of the global sternal closure systems market share. The market share is projected owing to the huge number of patients suffering from cardiovascular diseases and the presence of skilled professionals in the region. North America market growth is driven by the presence of key players and wide-scale adoption of technologically advanced sternal closure.

The sternal closure systems market is fragmented with hundreds of manufacturers. The players are expanding globally to mirror their customers’ requirements. As a result, they are increasingly integrating with other players. The key players include Idear S.R.L, A&E Medical, and Dispomedica among others.

Key Questions Answered in This Report:

      ·         What are the key regions having a significant market share?

      ·         What are the drivers and restraints of the market?

      ·         Who are the key market players in the market?

      ·         What is the market segmentation of the sternal closure systems market?

      ·         What are the types of sternal closure systems?