Sternal Closure Devices Market

Sternal Closure Device Market By Product Type (Sternal Closure Wires, Sternal Closure Screws, Sternal Closure Plates, Sternal Closure Clamps, And Others), Application (Cardiology, Orthopedics, And Respiratory) End-User (Hospitals & Clinics, Ambulatory Surgical Centers, And Others), And Geography (North America, Europe, Asia-Pacific, And Rest Of The World) is expected to grow at a steady CAGR forecast till 2030 owing to the growing prevalence of cardiovascular diseases and orthopedic disorders

The global sternal closure device market is estimated to grow at a CAGR of 5.3% during the forecast period from 2024 to 2030. The demand for sternal closure devices is primarily being boosted by the growing prevalence of cardiovascular disorders and respiratory diseases. Additionally, increasing cases of osteoporosis and the growing geriatric population are some of the other key factors that are responsible for contributing to the positive growth of the sternal closure device market during the forecast period from 2024-2030.

Sternal Closure Device Market Dynamics:

As per the latest data provided by the World Health Federation (WHF) in 2023, it was estimated that more than half a billion people were living with cardiovascular diseases in the year 2021, globally. Further, according to the latest updated statistics provided by the World Health Organization (WHO) in the year 2021, around 10 million individuals worldwide suffer from non-fatal injuries per day leading to medical trauma. For all the accidents leading to cardiovascular injuries and orthopedic injuries, providing patients with the correct line of treatment can prevent death, reduce the amount of long-term disability, and help them cope with trauma physically. Hence, owing to this, the need for sternal closure wires will increase gradually with increasing number of surgical procedures that require sternal closure device. This is because these devices are essential for maintaining the stability of the sternum during thoracic or open heart surgery, promoting recovery, reducing the risk of infection or sternal dehiscence.

Additionally, the World Health Organization's latest data from 2021 reports that the proportion of individuals aged 60 and older will double from 12% to 22% between 2015 and 2050. By 2050, the global population of people aged 60 and above is anticipated to reach 2.1 billion. Additionally, by 2030, one out of every six individuals will be 60 years old or older. As age increases, older adults have a natural decline in health due to aging factors, thus leading to various types of chronic and acute disorders such as cardiovascular disorders and respiratory diseases. Since the surgery involving thoracic cavity, access is often required for cardiovascular and respiratory conditions, it can weaken the sternum and affect chest stability. To give structural support and facilitate the healing process by firmly rejoining the sternum after surgery, sternal closure devices are essential. Therefore, the increasing aging population with cardiovascular and respiratory disorders will increase which will increase the demand for sternal closure devices, thus resulting in the overall growth of the sternal closure device market. 

However, the inadequate compression of the sternum by wire, and the potential risk of wire breakage are the major key constraints that may limit the growth of the sternal closure device market.

Sternal Closure Device Market Segment Analysis:

Sternal closure device market by Product (Sternal Closure Wires, Sternal Closure Screws, Sternal Closure Plates, Sternal Closure Clamps, and Others), Application (Cardiology, Orthopedics, and Respiratory) End-User (Hospitals & Clinics, Ambulatory Surgical Centers, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the product segment of the sternal closure device market, the wired category is estimated to a mass a significant revenue share in the sternal closure device market in 2023. This can be attributed to the various advantages and applications provided by wires. Since sternal dehiscence is not a good indicator of overall sternum functioning, it also leads to instability of the chest wall and potential complications such as infection and impaired healing, so the wire helps provide the firmness of the sternum involved in the movement of the rib cage and chest. This helps in crucial processes such as breathing providing insights into a person’s well-being. Additionally, in the case of respiratory disorders, the wires help doctors in surgical procedures to give strength to the sternum after lung transplant surgery and in tumor removal. Further, the wires are cost-effective, versatile, and minimize the risk of infection, which are capable of providing successful operating procedures by doctors to patients. 

In addition, according to the most recent information provided by the World Health Organization (WHO) in December 2023, every year road traffic crashes claim the lives of about 1.19 million persons worldwide. In addition to this, about 20 to 50 million people experience non-fatal injuries that result in significant medical trauma including chest fractures and inadequate sternum function. In such cases of injuries and medical trauma, sternal closure wire would be required to give them the correct line of treatment and to achieve effective and optimal postoperative outcomes. Moreover, it is important to carefully insert, properly tension, and consider characteristics like stability, flexibility, and patient comfort while using wires in the sternum. Therefore, the various advantages and applications provided by the wire will contribute to the growth of the segment, thereby driving the growth of the overall sternal closure device market during the forecast period.

North America Is Expected To Dominate The Overall Sternal Closure Device Market:

North America is expected to account for the highest proportion of the sternal closure device market in 2023, out of all regions. According to the latest updated data provided by the Centers for Disease Control and Prevention (CDC) in 2023, it was estimated that around 805,000 people in the US have a heart attack, and about 1 of the 5 are silent heart attacks. Thus, the rising prevalence of cardiovascular diseases will create a need for the treatment of these disorders. Cardiovascular conditions, such as heart attacks, often require surgical procedures to address underlying issues or complications. After surgeries like open-heart procedures or coronary artery bypass grafting (CABG), it's crucial to securely close the sternum (breastbone) to safeguard the heart and its neighboring structures during the healing phase. These closure devices offer stability and reinforcement to the sternum, decreasing the risk of severe complications like sternal separation or infection, which can pose a significant threat to life. By ensuring effective sternal closure, these devices facilitate swifter recovery and lower the chances of post-operative issues, thereby enhancing patient recovery and overall cardiac well-being. Therefore, all the above-mentioned reasons will contribute to the positive growth of the sternal closure device market in the United States.

Additionally, according to the latest study published by the American Lung Association in the year 2023 about 11.7 million people in the US were living with chronic respiratory disorders that over time make it harder for patients to breathe. There are certain respiratory complications where sternotomy might be required, including lung cancer, lung transplantation, and severe thoracic infections. Sternal closure devices are made to stabilize the sternum and encourage appropriate healing, which lowers the possibility of consequences like mediastinitis or sternal dehiscence, which can seriously impair breathing function. These devices help minimize respiratory distress and ultimately aid in the healing process by securely shutting the sternum, supporting respiratory muscle activity, and facilitating adequate breathing. Therefore, the rising incidence of respiratory disorders in the US, in which a sternotomy procedure is required is one of the key factors driving the growth of the sternal closure device market in the US, which will eventually drive the overall market in North America during the forecast period.

Also, a 2021 study by Osteoporosis Canada published in 2022 stated that once in a lifetime, at least one in three women and one in five men are expected to experience an osteoporotic fracture. There are more than 2.3 million Canadians who suffer from osteoporosis. Osteoporosis is the cause of more than 80% of fractures in adults over 50. The risk of fractures in the chest can be raised by osteoporosis. Weakened bones that are more brittle are more prone to fractures. Chest fractures can be the result of multiple causes such as falls, collisions, and even mild trauma in people who have osteoporosis. These fractures may impact the sternum and ribs. Furthermore, fractures in the chest can have catastrophic repercussions and necessitate medical attention because it shields important organs like the heart and lungs. Therefore, the rising incidence of osteoporosis disorders in which a sternotomy procedure is also a key factor driving the growth of the sternal closure device market in Canada, which will eventually drive the overall market in North America during the forecast period.  

Sternal Closure Device Market Key Players:

Some of the key market players operating in the Sternal Closure Device include Zimmer Biomet, KLS Martin Group., Stryker, Acumed LLC, Crown Holdco One, Inc.,  B. Braun SE, JEIL MEDICAL CORPORATION., Johnson & Johnson Services, Inc., IDEAR S.R.L, Medtronic,  ABYRX, INC., MediGroup EB, A&E Medical Corporation, Medline Industries, LP., Medicon eG., Arthrex, Inc., Able Medical Devices Inc., CircumFix Solutions, Inc., Kinamed® Incorporated., Changzhou Waston Medical Appliance Co, Ltd., and others.

Recent Developmental Activities In The Sternal Closure Device Market:

• In January 2023, Able Medical announced the launch of Valkyrie® Looped Sternotomy Sutures, a stainless-steel looped wire suture that is used to fix the sternum in which looped suture doubles the surface area of single wires and offers a more durable sternal closure than typical wire sutures.
• In February 2022, Evonik invested in CircumFix, a US startup that uses a high-performance polymer from Evonik to create a surgical sternal closure device that seals and holds the sternum firmly in place. 
• In December 2020, Zimmer Biomet acquired A&E Medical's entire portfolio of Sternal Closure Devices, including surgical sutures, rigid fixation, cable system, single-use complementary temporary pacing wire, and surgical punch product.

Key Takeaways From The Sternal Closure Device Study

• Market size analysis for current sternal closure device market  size (2023), and market forecast for 6 years (2024-2030)
• Top key product/technology developments, mergers, acquisitions, partnerships, and joint ventures happened over the last 3 years
• Key companies dominating the global sternal closure device market
• Various opportunities are available for the other competitors in the sternal closure device market space.
• What are the top-performing segments in 2023? How these segments will perform in 2030?
• Which are the top-performing regions and countries in the current sternal closure device market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for sternal closure device market growth in the coming future?

Target Audience Who Can Benefit From This Sternal Closure Device Market Report Study

• Sternal closure device product providers
• Research organizations and consulting companies 
• Sternal closure device-related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in sternal closure devices
• Various end-users who want to know more about the sternal closure device market and the latest technological developments in the sternal closure device market.

Frequently Asked Questions For The Sternal Closure Device Market:

1. What are Sternal Closure Devices?

Sternal closure devices are devices that are a single component of the sternal closure system. These are used in cardiac surgeries, particularly after sternotomy. They could be sternal closure wire, plates, screws, and clamps. 

2. What is the market for Sternal Closure Device?

The global sternal closure device market is estimated to grow at a CAGR of 5.3% during the forecast period from 2024 to 2030.

3. What are the drivers for the global Sternal Closure Device Market?

The sternal closure device market is slated to witness prosperity owing to factors such as the growing prevalence of cardiovascular diseases and respiratory disorders. Additionally, an increase in the cases of osteoporosis and growing geriatric population are some of the key factors resulting in appreciable revenue growth in the sternal closure device market during the forecast period (2024-2030).

4. Who are the key players operating in the global Sternal Closure Device Market?

Some of the key market players operating in the sternal closure device include Zimmer Biomet, KLS Martin Group., Stryker, Acumed LLC, Crown Holdco One, Inc., B. Braun SE, JEIL MEDICAL CORPORATION., Johnson & Johnson Services, Inc., IDEAR S.R.L, Medtronic, ABYRX, INC., MediGroup EB, A&E Medical Corporation, Medline Industries, LP., Medicon eG., Arthrex, Inc., Able Medical Devices Inc., CircumFix Solutions, Inc., Kinamed® Incorporated., Changzhou Waston Medical Appliance Co, Ltd., and others.

5. Which region has the highest share in the global Sternal Closure Device Market?

North America is expected to dominate the overall sternal closure device market during the forecast period from 2024 to 2030. This is due to the presence of a large patient pool suffering from cardiovascular diseases and respiratory disorders. Additionally, the increasing number of osteoporosis cases along with the growing geriatric population, and the presence of developed and sophisticated healthcare infrastructure in the region are some of the key factors driving the growth of the sternal closure device market in North America.