Sternal Closure Systems Market 2022-2028

Description

List of Tables

Global Sternal Closure Systems Market Size, Share & Trends Analysis Report by Product (Closure Devices and Its Types (Sternal Closure Wires, Sternal Closure Plates and Screws, Sternal Closure Clips, Sternal Closure Cables), and Bone Cement), by Material (Titanium, Stainless Steel, and Polyether Ether Ketone (PEEK)), and by Procedure (Hemisternotomy, Median Sternotomy, and Bilateral Thoracosternotomy) Forecast Period (2022-2028)

The global sternal closure systems market is anticipated to grow at a substantial CAGR of 5.5% during the forecast period. An increasing number of implantable procedures is increasing the demand for advanced technology-based sternal closure devices and the companies operating in the market are focusing to develop more technologically advanced products and getting approved is such a driving factor in the market growth.

The sternal closure systems are segmented on the basis of product, materials, and, procedure. Based on product, the market is segmented into gels closure devices and their types (sternal closure wires, sternal closure plates, and screws, sternal closure clips, sternal closure cables), and bone cement. On the basis of material, the market is sub-divided titanium, stainless steel, and polyether ether ketone (PEEK). Furthermore, based on procedures, the market is sub-classified into hemisternotomy, median sternotomy, and bilateral thoracosternotomy. Among the procedure segment, median sternotomies are holding a prominent share in the market owing to, as this sternotomy are regularly performed osteotomies across the globe. These systems are majorly performed and also they provide easy access to the heart, lungs, and surrounding structures during heart valve replacement surgery and among others.

Geographically market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is holding a prominent share in the market owing to the increasing burden of cardiovascular disease (CVDs) in the region and the increasing and favorable reimbursement policies. Moreover, the region is dominating due to the increasing prevalence of CVDs and the adoption of various advanced technology-based devices in the region. In addition, key players in the market are highly inclined to collaborate, partner, and merge to expand and improve product portfolios are such factors that are contributing to the market growth. For instance, in February 2022, Evonik Venture Capital, to improve patient recovery after open chest surgery invested in CircumFix Solutions and it has developed a new sternal closure device. The new devices are patented for orthopedic devices and the material is biocompatible - not harmful or toxic to living tissue it is made from PEEK polymer and it is transparent to x-rays.

The competitive landscape includes key strategies of leading players, recent developments, and key company analysis. The major players that contribute to the growth of the market include Acumed LLC, Arthrex, Inc., B. Braun Melsungen AG, Johnson and Johnson Services Inc., Kinamed Inc., KLS Martin Group, Stryker Corp., and many others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in February 2020, Foosin Medical Supplies Inc., Ltd., has received 510(k) approval by U.S Food and Drug Administration (FDA) for WEGO-STAINLESS STEEL that is used in various applications such as n abdominal wound closure, hernia repair, sternal closure, and orthopedic procedures and among others.

Research Methodology

The market study of the global sternal closure systems market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to break down the market into various segments, and derive the total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include:

Financial reports of companies involved in the market.
Whitepapers, research papers, and news blogs.
Company websites and their product catalog.

The report provides an in-depth analysis of the market size, and intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Global Sternal Closure Systems Market Research And Analysis By Product

2. Global Sternal Closure Systems Market Research And Analysis By Material

3. Global Sternal Closure Systems Market Research and Analysis by Procedure

The Report Covers:

Comprehensive Research Methodology of the global sternal closure systems market.
This report also includes a detailed and extensive market overview with key analyst insights.
An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
Analysis of regional regulations and other government policies impacting the global sternal closure systems market.
Insights about market determinants that are stimulating the global sternal closure systems market.
Detailed and extensive market segments with the regional distribution of forecasted revenues.
Extensive profiles and recent developments of market players.

Product Code: OMR2026578

1. Report Summary

Current Industry Analysis and Growth Potential Outlook
Impact of COVID-19 on the Global Sternal Closure Systems Market
Recovery Scenario of Global Sternal Closure Systems Market
1.1. Research Methods and Tools
1.2. Market Breakdown
- 1.2.1. By Segments
- 1.2.2. By Region

2. Market Overview and Insights

2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
- 2.2.1. Key Findings
- 2.2.2. Recommendations
- 2.2.3. Conclusion

3. Competitive Landscape

3.1. Acumed LLC
- 3.1.1. Overview
- 3.1.2. Financial Analysis
- 3.1.3. SWOT Analysis
- 3.1.4. Recent Developments
3.2. Arthrex, Inc.
- 3.2.1. Overview
- 3.2.2. Financial Analysis
- 3.2.3. SWOT Analysis
- 3.2.4. Recent Developments
3.3. B. Braun Melsungen AG
- 3.3.1. Overview
- 3.3.2. Financial Analysis
- 3.3.3. SWOT Analysis
- 3.3.4. Recent Developments
3.4. Kinamed Inc
- 3.4.1. Overview
- 3.4.2. Financial Analysis
- 3.4.3. SWOT Analysis
- 3.4.4. Recent Developments
3.5. KLS Martin Group
- 3.5.1. Overview
- 3.5.2. Financial Analysis
- 3.5.3. SWOT Analysis
- 3.5.4. Recent Developments
3.6. Key Strategy Analysis
3.7. Impact of Covid-19 on Key Players

4. Market Segmentation

4.1. Global Sternal Closure Systems Market by Product
- 4.1.1. Closure Devices
  - 4.1.1.1. Sternal Closure Wires
  - 4.1.1.2. Sternal Closure Plates and Screws
  - 4.1.1.3. Sternal Closure Clips
  - 4.1.1.4. Sternal Closure Cables
- 4.1.2. Bone Cement
4.2. Global Sternal Closure Systems Market by Material
- 4.2.1. Titanium
- 4.2.2. Stainless Steel
- 4.2.3. Polyether Ether Ketone (PEEK)
4.3. Global Sternal Closure Systems Market by Procedure
- 4.3.1. Median Sternotomy
- 4.3.2. Hemisternotomy
- 4.3.3. Bilateral Thoracosternotomy

5. Regional Analysis

5.1. North America
- 5.1.1. US
- 5.1.2. Canada
5.2. Europe
- 5.2.1. UK
- 5.2.2. Germany
- 5.2.3. Italy
- 5.2.4. Spain
- 5.2.5. France
- 5.2.6. Rest of Europe
5.3. Asia-Pacific
- 5.3.1. China
- 5.3.2. India
- 5.3.3. Japan
- 5.3.4. South Korea
- 5.3.5. Rest of Asia-Pacific
5.4. Rest of the World

6. Company Profiles

6.1. Able Medical Devices Inc.
6.2. Aenova Holding GmbH
6.3. Allumer Medical Pvt. Ltd.
6.4. CARDIOLINK S.L.
6.5. CIRCUMFIX SOLUTIONS
6.6. IDEAR S.R.L
6.7. Johnson and Johnson Services Inc.
6.8. MedXpert GmbH
6.9. MeKo Laser Material Processing
6.10. ORTOLOG MEDICAL
6.11. Pacific Research Laboratories
6.12. PRAESIDIA SRL
6.13. Stryker Corp.
6.14. TERUMO MEDICAL CORP
6.15. Zimmer Biomet Holdings