During the projected period, the sternal closure systems market is estimated to grow at a CAGR of5%, reaching USD 2500 million. Today's open heart surgery is a big success. Thelast stage in open heart surgery is to close the sternum with sternum closure systems.This procedure involves wrapping steel wires across the sternum's halves toseal it. The growing elderly population, alcohol and drug misuse, theincreasing frequency of cardiac illnesses, and the growing penetration of keyindustry competitors are all driving the global sternal closure systems market.
Furthermore, expanding healthcare awareness, advantageousreimbursement policies, more advanced technical equipment, increasedbreakthroughs in medical device research and development, as well as risingaverage individual income, are all driving market expansion. However,constraints such as high device costs, difficult and costly surgicalprocedures, and the danger of infection from sternum closure devices areanticipated to stifle market expansion. The lack of adequate healthcareinfrastructure, as well as a lack of awareness of cardiac problems inmiddle-income nations, are also key roadblocks to market expansion.
A major reason driving demand for sternal closure systems is the rising prevalence of cardiovascularillnesses. According to a 2015 report by the American Heart Association (AHA),approximately 84 million people in the United States suffered from some form ofcardiovascular disease (CVD) in 2017, with an estimated 130 million adults, orover 45 percent of the country's population, suffering from at least one CVD by2035. Furthermore, the introduction of novel devices to achieve a tight closureand stable union at the sternum for patients having cardiothoracic surgery isprojected to drive market growth.
Because of the rising number of heart surgeries conducted inthe treatment of cardiovascular disorders, North America is likely to dominatethe worldwide sternal closure systemsmarket. According to an American Heart Association report, around 700,000open-heart procedures are conducted in the United States each year.
Furthermore, the market is likely to develop as the numberof approvals for innovative sternalclosure methods rises. Dallen Medical, Inc., for example, got FDA 510(k)clearance in 2013 for a polymer coated Compressyn Band for sternal closure,bringing polymer coating to sternal closure devices.
The market for sternalclosure system is estimated to reach USD 3020.02 million by 2027, growingat a 5.63 percent CAGR from 2020 to 2027. This market expansion has been fueledby an increase in the number of surgical procedures performed, as well as arise in the number of people suffering from the ailments that these medicalsystems treat.
Sternal closuresystems are a group of goods and solutions that are commonly utilised incardiac/cardiothoracic surgical procedures when a sternotomy is performed.
This market report examines market share, new developments,and product pipeline analysis, as well as the impact of domestic and localisedmarket players, emerging revenue pockets, changes in market regulations,product approvals, strategic decisions, product launches, geographicexpansions, and technological innovations. Contact us for an Analyst Brief tobetter understand the study and market landscape. Our team can assist you indeveloping a revenue impact solution to meet your objectives.
The countries covered in the market report are the UnitedStates, Canada, and Mexico in North America, Germany, France, the UnitedKingdom, the Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey,and the Rest of Europe in Europe, China, Japan, India, South Korea, Singapore,Malaysia, Australia, Thailand, Indonesia, and the Philippines, and the Rest ofAsia-Pacific in Asia-Pacific, Saudi Arabia, the United Arab Emirates, SouthAfrica, Egypt, and Israel, as well as Saudi Arabia, the United Arab Emirates.
