The Sternal Closure Systems Global Market Report 2023, provides comprehensive information on the sternal closure systems market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Sternal Closure Systems Global Market Report 2023, the global sternal closure system market size 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 markets across the globe. The global sternal closure system market size is expected to reach $2.79 billion in 2027 at a CAGR of 5.17%.
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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.
The sternal closure systems market is segmented:
1) By Product: Closure Devices, Bone Cement
2) By Procedure: Median Sternotomy, Hemisternotomy, Bilateral Thoracosternotomy, Other Procedures
3) By Material: Titanium, Polyether Ether Ketone (PEEK), Stainless Steel, Other Materials
4) By End User: Hospitals and Clinics, Research Institutes, Other End Users
North America was the largest region in the sternal closure systems market in 2022.
The table of contents in TBRC’s sternal closure systems market report includes:
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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