Market Research Report
Sternal Closure Systems Market - Growth, Trends, and Forecast (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||925390|
|Published||Content info||120 Pages
Delivery time: 2-3 business days
|Sternal Closure Systems Market - Growth, Trends, and Forecast (2020 - 2025)|
|Published: February 1, 2020||Content info: 120 Pages||
The sternal closure systems market is projected to grow with a CAGR of nearly 5.3% over the forecast period. The major factor attributing to the growth of the market is the increasing incidence of chronic wounds to the chest area and an increasing number of open-heart surgery. According to American Heart Association, every year, over one million people worldwide undergo open-heart surgery in the fight against cardiovascular disease, that each year in the United States, over 700,000 open-heart surgeries are performed requiring mid-line sternotomies. Furthermore, technological advancements in sternotomy techniques, an increase in the availability of medical reimbursements in developed countries is boosting the market growth. However, the gaining popularity of alternative procedures is the major drawback of market growth.
Wires Segment is Dominating the Sternal Closure Systems Market.
Sternal closure with wires has become the standard because of the ease of use, the speed of use, the relatively low complication rate, and the low cost of wires. Common closure methods use a series of wires, either interrupted or figure-of-eight to secure the sternal halves created during the median sternotomy. All wiring techniques, however, allow some movement and separation of sternal halves under physiologic loads. These minimal movements do not cause any problems in the vast majority of patients with healthy sternums unless the sternotomy is technically faulty, and they may even promote faster bone healing by stimulating early callus formation.
The other factors propelling the segment growth are increasing open heart surgeries, and increasing geriatric population.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall market, throughout the forecast period. The market growth is due to the factors such as the presence of key players, high prevalence of pediatric chronic diseases in the region, and established healthcare infrastructure. Furthermore, beneficial government initiatives and an increase in the number of research partnerships are some of the drivers that are expected to increase market growth. United States holds the maximum share in North America region due to supportive healthcare policies, a high number of patients, and a developed healthcare market.
The Sternal Closure Systems market is moderately competitive and consists of several major players. Some of the companies which are currently dominating the market are Johnson & Johnson, Zimmer Biomet Holdings, KLS Martin Group, Acute Innovations, A&E Medical, Idear S.R.L, Praesidia SRL, Kinamed Incorporated, Media Group Australia Pty Ltd, Jace Medical.