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Sternal Closure Systems Market by Product and Geography - Forecast and Analysis 2022-2026

  • Published: Dec 2021
  • Pages: 120
  • SKU: IRTNTR71672
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The sternal closure systems market share is expected to increase by USD 659.76 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.69%.

This sternal closure systems market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers sternal closure systems market segmentation by product (closure devices and bone cement) and geography (North America, Europe, Asia, and ROW). The sternal closure systems market report also offers information on several market vendors, including Abyrx Inc., Acumed LLC, Dispomedica GmbH, Idear Srl, JACE Medical LLC, Johnson and Johnson Inc., Kinamed Inc., KLS Martin Group, Praesidia Srl, and Zimmer Biomet Holdings Inc. among others.

What will the Sternal Closure Systems Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Sternal Closure Systems Market Size for the Forecast Period and Other Important Statistics

 

Sternal Closure Systems Market: Key Drivers and Challenges

The increasing target patient population is notably driving the sternal closure systems market growth, although factors such as procedural risks associated with sternal closure may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the sternal closure systems industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Sternal Closure Systems Market Driver

One of the key factors driving growth in the sternal closure systems market is the increasing target patient population. Heart-related diseases or cardiovascular diseases (CVDs) are the leading cause of death across the globe. In addition, the change in lifestyles such as eating processed food, smoking, and heavy alcoholism are major causes of CVDs. The rising geriatric population across the world is another factor boosting the occurrence of CVDs worldwide. At an elderly age, various organs, including the cardiovascular system, fail to maintain stable function, leading to increasing demand for surgical processes and rising demand for sternal closure systems globally.

Key Sternal Closure Systems Market Challenge

The procedural risks associated with sternal closure will be a major challenge for the sternal closure systems market during the forecast period. The increasing prevalence of CVDs and the rising demand for sternal closure systems among surgeons for operative procedures have increased the demand for sternal closure systems. However, postoperative complications such as deep sternal wound infection (DSWI) and sternal dehiscence (SD) cause significant morbidity and mortality. These complications might restraint the growth of the sternal closure systems market.

This sternal closure systems market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major Sternal Closure Systems Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Abyrx Inc.
  • Acumed LLC
  • Dispomedica GmbH
  • Idear Srl
  • JACE Medical LLC
  • Johnson and Johnson Inc.
  • Kinamed Inc.
  • KLS Martin Group
  • Praesidia Srl
  • Zimmer Biomet Holdings Inc.

 

This statistical study of the sternal closure systems market encompasses successful business strategies deployed by the key vendors. The sternal closure systems market is concentrated and the vendors are deploying growth strategies such as forming strategic partnerships to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The sternal closure systems market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Sternal Closure Systems Market?

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42% of the market’s growth will originate from North America during the forecast period. The US is the key market for sternal closure systems in North America. Market growth in this region will be faster than the growth of the market in the European and ROW regions.

This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Product Segments in the Sternal Closure Systems Market?

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The sternal closure systems market share growth by the closure devices segment will be significant during the forecast period. The improved closure devices have characteristics such as reduced postoperative complications and infections and faster recovery time compared to bone cement, which is likely to boost the segment growth in the near future.

This report provides an accurate prediction of the contribution of all the segments to the growth of the sternal closure systems market size and actionable market insights on post COVID-19 impact on each segment.

 

Sternal Closure Systems Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 5.69%

Market growth 2022-2026

$ 659.76 million

Market structure

Concentrated

YoY growth (%)

5.00

Regional analysis

North America, Europe, Asia, and ROW

Performing market contribution

North America at 42%

Key consumer countries

US, Germany, UK, China, and Japan

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Abyrx Inc., Acumed LLC, Dispomedica GmbH, Idear Srl, JACE Medical LLC, Johnson and Johnson Inc., Kinamed Inc., KLS Martin Group, Praesidia Srl, and Zimmer Biomet Holdings Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Sternal Closure Systems Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive sternal closure systems market growth during the next five years
  • Precise estimation of the sternal closure systems market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the sternal closure systems industry across North America, Europe, Asia, and ROW
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of sternal closure systems market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2021
    • Market outlook: Forecast for 2021 - 2026

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Product

    • Market segments
    • Comparison by Product
    • Closure devices - Market size and forecast 2021-2026
    • Bone cement - Market size and forecast 2021-2026
    • Market opportunity by Product

    Customer landscape

    • Customer landscape

    Geographic Landscape

    • Geographic segmentation
    • Geographic comparison
    • North America - Market size and forecast 2021-2026
    • Europe - Market size and forecast 2021-2026
    • Asia - Market size and forecast 2021-2026
    • ROW - Market size and forecast 2021-2026
    • Key leading countries
    • Market opportunity by geography
    • Market drivers
    • Market challenges
    • Market trends

    Vendor Landscape

    • Vendor landscape
    • Landscape disruption

    Vendor Analysis

    • Vendors covered
    • Market positioning of vendors
    • Abyrx Inc.
    • Acumed LLC
    • Dispomedica GmbH
    • Idear Srl
    • JACE Medical LLC
    • Johnson and Johnson Inc.
    • Kinamed Inc.
    • KLS Martin Group
    • Praesidia Srl
    • Zimmer Biomet Holdings Inc.

    Appendix

    • Scope of the report
    • Currency conversion rates for US$
    • Research methodology
    • List of abbreviations

    Research Framework

    Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

    TechnavioINFORMATION SOURCES

    Primary sources

    • Manufacturers and suppliers
    • Channel partners
    • Industry experts
    • Strategic decision makers

    Secondary sources

    • Industry journals and periodicals
    • Government data
    • Financial reports of key industry players
    • Historical data
    • Press releases
    Technavio

    TechnavioDATA ANALYSIS

    Data Synthesis

    • Collation of data
    • Estimation of key figures
    • Analysis of derived insights

    Data Validation

    • Triangulation with data models
    • Reference against proprietary databases
    • Corroboration with industry experts
    Technavio

    TechnavioREPORT WRITING

    Qualitative

    • Market drivers
    • Market challenges
    • Market trends
    • Five forces analysis

    Quantitative

    • Market size and forecast
    • Market segmentation
    • Geographical insights
    • Competitive landscape
    Interested in this report?
    Get your FREE sample now!
    The sternal closure systems market growth will increase by $659.76 million during 2021-2026.
    The sternal closure systems market is expected to grow at a CAGR of 5.69% during 2021-2026.
    Technavio has segmented the sternal closure systems market by product (Closure devices and Bone cement) and geographic (North America, Europe, Asia, and ROW).
    Abyrx Inc., Acumed LLC, Dispomedica GmbH, Idear Srl, JACE Medical LLC, Johnson and Johnson Inc., Kinamed Inc., KLS Martin Group, Praesidia Srl, Zimmer Biomet Holdings Inc. are a few of the key vendors in the sternal closure systems market.
    North America will register the highest growth rate of 41.95% among the other regions. Therefore, the sternal closure systems market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
    The key factors driving the sternal closure systems market growth are:
    • Increasing target patient population
    The sternal closure systems market vendors should focus on grabbing business opportunities from the closure devices segment as it accounted for the largest market share in the base year.
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