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Nov 14, 2023

Sternal Closure Systems Global Market Report 2023

Major players in the sternal closure system market are Zimmer Biomet Holdings

Major players in the sternal closure system market are Zimmer Biomet Holdings Inc., Johnson and Johnson Services Inc., B. Braun Melsungen AG, Orthofix Holdings Inc., KLS Martin Group, A&E Medical Corporation, Jace Medical LLC.

New York, June 08, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Sternal Closure Systems Global Market Report 2023" - https://www.reportlinker.com/p06466592/?utm_source=GNW , Acute Innovations LLC., Abyrx Inc., Kinamed Incorporated , Idear SRL,, Dispomedica GmbH, Waston Medical Corporation, Jeil Medical Corporation,, Figure 8 Surgical, and Stryker Corporation.The global sternal closure system market is expected to grow from $2.15 billion in 2022 to $2.28 billion in 2023 at a compound annual growth rate (CAGR) of 5.74%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many every markets across the globe. The market is expected to reach $2.79 billion in 2027 at a CAGR of 5.17%.The sternal closure system market consists of sales of wires, hooks, and putty that are used for sternal closure procedures.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.A sternal closure system refers to a medical device or method used to close the sternum, which is the bone located in the center of the chest that protects the heart and lungs. These systems are used to close the chest, which may be opened during heart surgeries or open-chest surgeries.North America was the largest region in the sternal closure system market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.The regions covered in the sternal closure system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main product types of sternal closure system includes closure devices, bone cement and used in procedures such as median sternotomy, hemisternotomy, bilateral thoracosternotomy, others.Sternum closure devices refer to devices that are designed to hold the sternum together while it heals, reducing the risk of complications and promoting faster recovery.These devices are used to close the sternum, or breastbone, after open-heart surgery.The materials used in sternal closure system are titanium, polyether ether ketone (PEEK), stainless steel, and others.The system is used by hospitals and clinics, research institutes and others.A higher prevalence of cardiovascular diseases is expected to drive the sternal closure system market going forward.Many cardiovascular diseases often need surgery for which, the sternum bone needs to be opened.The sternal closure system can be useful in properly closing the sternal bone that was opened for the surgeries. For instance, according to research published in the Journal of the American College of Cardiology by the American College of Cardiology, a US-based non-profit medical association, the risk of stroke is expected to increase by 33.8% to 15 million persons from 2025 to 2060. Furthermore, from 2025 to 2060, the risk of heart failure is expected to increase by 33.4% to 13 million persons, heart disease by 30.7% to 29 million persons, and heart attack by 16.9% to 16 million persons. As a result, the increased prevalence of cardiovascular diseases is propelling the sternal closure system market.Product innovations are the key trends gaining popularity in the sternal closure system market.Major companies in the market are introducing innovative products such as Valkyrie thoracic fixation systems to sustain their position in the market.For instance, in June 2021, Able Medical Devices, a US-based manufacturer of cardiothoracic products launched Valkyrie Thoracic Fixation System for osteotomy and closing of the sternum after open heart surgery. The uniqueness of the product is that it is the market's first single-use radiolucent plating system that is very effective in open-heart surgeries.In December 2020, Zimmer Biomet Holdings Inc., a US-based medical device company, acquired A&E Medical Corporation for $150 million cash at closing and $100 million in cash payable in the next year. This acquisition is in line with Zimmer Biomet's current portfolio and will help the company to further improve and expand its product offerings. A&E Medical Corporation is a US-based manufacturer of surgery products and has a specialized portfolio of sternal closure devices.The countries covered in the sternal closure system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The sternal closure system market research report is one of a series of new reports that provides sternal closure system market statistics, including sternal closure system industry global market size, regional shares, competitors with a sternal closure system market share, detailed sternal closure system market segments, market trends and opportunities, and any further data you may need to thrive in the sternal closure system industry. This sternal closure system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: https://www.reportlinker.com/p06466592/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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