Sternal Closure Systems Market by Product (Closure Devices (Wire, Plate, Screw, Cable,), Bone Cement), Procedure (Median Sternotomy, Hemisternotomy, Bilateral Thoracosternotomy), Material (Stainless Steel, Peek, Titanium) - Global Forecast to 2023

  • ID: 4521410
  • Report
  • Region: Global
  • 125 Pages
  • Markets and Markets
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Global Sternal Closure Systems Market Projected to Reach USD 2.61 Billion by 2023 from USD 2.02 Billion in 2018, at a CAGR of 5.2%

FEATURED COMPANIES

  • A&E Medical
  • Abyrx
  • Acute Innovations
  • Dispomedica
  • Idear S.R.L
  • Jace Medical
  • MORE

"The sternal closure systems market projected to grow at a CAGR of 5.2%."

The global sternal closure systems market is projected to reach USD 2.61 billion by 2023 from USD 2.02 billion in 2018, at a CAGR of 5.2%. The increased target patient population coupled with the subsequent increase in the number of surgical procedures, growing availability of medical reimbursements across major markets, and technological advancements in sternotomy techniques are expected to drive the demand for sternal closure systems during the study period. On the other hand, the procedural risks associated with sternal closure and the excise duty, taxes, and legislations for medical devices across the globe may limit market growth during the forecast period.

"The closure devices segment was the largest segment on the basis of products in 2017 "

The closure devices segment accounted for the larger share of the global sternal clousre systems market in 2017. This can be attributed to factors such as ongoing technological advancements in closure devices, increasing number of complex cardiovascular surgeries, and growing availability of medical reimbursements across developed markets.

"The median sternotomy segment commanded the largest share of the sternal closure systems market in 2017."

The market is segmented into median sternotomy, hemisternotomy, and bilateral thoracosternotomy on the basis of procedure. In 2017, the median sternotomy segment accounted for the largest share of this market. Rising number of critical patients suffering from cardiovascular diseases, significant availability of reimbursement for critical cardiac surgeries across developed markets, and rising awareness among surgeons about the clinical benefits offered by sternal closure products are the key factors driving the growth of this segment.
 
"Asia Pacific is expected to register the highest growth rate in the sternal closure systems market"

Geographically, the sternal closure systems market is segmented into North America, Europe, Asia Pacific, and RoW. APAC is projected to be the fastest-growing regional segment in the sternal closure systems market. Rapid growth in the healthcare expenditure in emerging Asian countries, growing adoption of advanced sternum closure techniques among cardiothoracic surgeons, large patient population for target diseases, rapidly growing geriatric and obese population, and increasingly localized device manufacturing are the factors expected to drive the growth of the market in the APAC region.

Breakdown of supply-side primary interviews:

  • By Company Type - Tier 1 - 45%, Tier 2 - 34% and Tier 3 - 21%
  • By Designation - - C-level - 14%, Director-level - 10%, Others - 76%
  • By Region - North America - 40%, Europe - 32%, APAC - 20%, RoW - 8%

As of 2017, some of the major players operating in the sternal closure systems market are DePuy Synthes (US), Zimmer Biomet Holdings (US), and A&E Medical (US), and KLS Martin Group (US), Orthofix International N.V. (US), ABYRX, INC. (US), Acute Innovations (US), Kinamed Incorporated (US), Praesidia Srl (Italy), and IDEAR S.R.L. (Argentina) among others.

Research Coverage

This report studies the sternal closure systems market based on product, procedure, material, and region. The report also studies factors affecting market growth, it analyzes opportunities and challenges in the market and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micromarkets with respect to their individual growth trends. The report forecasts the revenue of market segments with respect to the four key regions and respective countries.

Reasons to Buy the Report:

From an insights perspective, this research report has focused on various levels of analysis- market ranking analysis of top players and company profiles, which together comprise and discuss basic views on the competitive landscape; emerging segments of the sternal closure systems market; and high-growth regions and their drivers, restraints, challenges, and opportunities. The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help firms garner greater market shares.

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FEATURED COMPANIES

  • A&E Medical
  • Abyrx
  • Acute Innovations
  • Dispomedica
  • Idear S.R.L
  • Jace Medical
  • MORE

1 Introduction
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Segments Covered
           1.3.2 Geographic Scope
           1.3.3 Years Considered for the Study
    1.4 Currency
    1.5 Major Market Stakeholders

2 Research Methodology
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
    2.2 Market Size Estimation Methodology
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Estimation and Data Triangulation
    2.4 Research Assumptions
    2.5 Research Limitations

3 Executive Summary

4 Premium Insights
    4.1 Sternal Closure Systems Market: Overview
    4.2 Global Market, By Product, 2018 vs 2023 (USD Million)
    4.3 Global Market Share, By Procedure, 2018 vs 2023
    4.4 Global Market for Closure Devices, By Material, 2018 vs 2023 (USD Million)
    4.5 Geographical Snapshot of the Global Market

5 Market Overview
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Market Drivers
                    5.2.1.1 Technological Advancements in Sternotomy Techniques
                    5.2.1.2 Increasing Target Patient Population Coupled With the Subsequent Increase in the Number of Surgical Procedures
                    5.2.1.3 Growing Availability of Medical Reimbursements Across Major Markets
           5.2.2 Market Restraints
                    5.2.2.1 Procedural Risks Associated With Sternal Closure
                    5.2.2.2 Excise Duty, Taxes, and Legislations for Medical Devices Across the Globe
           5.2.3 Market Opportunities
                    5.2.3.1 Increasing Research Activities for Sternal Closure Procedures
                    5.2.3.2 Emerging Markets
           5.2.4 Market Challenges
                    5.2.4.1 Dearth of Skilled Or Technicians & Surgeons
                    5.2.4.2 Limited Awareness Among Healthcare Providers About Novel Sternal Closure Techniques

6 Sternal Closure Systems Market, By Product
    6.1 Introduction
    6.2 Closure Devices
           6.2.1 Wires
           6.2.2 Plates & Screws
           6.2.3 Cables
           6.2.4 Clips
    6.3 Bone Cement

7 Sternal Closure Systems Market, By Procedure
    7.1 Introduction
    7.2 Median Sternotomy
    7.3 Hemisternotomy
    7.4 Bilateral Thoracosternotomy

8 Sternal Closure Systems Market for Closure Devices, By Material
    8.1 Introduction
    8.2 Stainless Steel
    8.3 Polyether Ether Ketone (PEEK)
    8.4 Titanium

9 Sternal Closure Systems Market, By Region
    9.1 Introduction
    9.2 North America
           9.2.1 US
           9.2.2 Canada
    9.3 Europe
           9.3.1 Germany
           9.3.2 UK
           9.3.3 France
           9.3.4 Rest of Europe (RoE)
    9.4 Asia Pacific (APAC)
           9.4.1 Japan
           9.4.2 China
           9.4.3 India
           9.4.4 Rest of Asia Pacific (RoAPAC)
    9.5 Rest of the World

10 Competitive Landscape
     10.1 Overview
     10.2 Global Market Ranking (2017)
     10.3 Competitive Scenario
             10.3.1 Key Product Launches, 2015-2018
             10.3.2 Key Mergers and Acquisitions, 2015-2018

11 Company Profiles
(Introduction, Products & Services, Strategy, & Analyst Insights, Developments, View)*
     11.1 Depuy Synthes (A Part of Johnson & Johnson)
     11.2 Zimmer Biomet Holdings
     11.3 KLS Martin Group
     11.4 Acute Innovations
     11.5 Orthofix International N.V.
     11.6 A&E Medical
     11.7 Idear S.R.L
     11.8 Praesidia SRL
     11.9 Kinamed Incorporated
     11.10 Media Group Australia Pty Ltd
     11.11 Jace Medical
     11.12 Abyrx
     11.13 Dispomedica
     11.14 Jeil Medical Corporation
     11.15 Changzhou Waston Medical Appliance Company Limited

*Details on View, Introduction, Product & Services, Strategy, & Analyst Insights, New Developments Might Not Be Captured in Case of Unlisted Companies.

List of Tables
Table 1 Key Reimbursement Codes for Sternal Closure (As of 2017)
Table 2 Sternal Closure Systems Market, By Product, 2016-2023 (USD Million)
Table 3 Global Market for Closure Devices, By Type, 2016-2023 (USD Million)
Table 4 Global Market for Closure Devices, By Material, 2016-2023 (USD Million)
Table 5 Global Market for Closure Devices, By Region, 2016-2023 (USD Million)
Table 6 North American Market for Closure Devices, By Country, 2016-2023 (USD Million)
Table 7 European Market for Closure Devices, By Country, 2016-2023 (USD Million)
Table 8 APAC Market for Closure Devices, By Country, 2016-2023 (USD Million)
Table 9 Global Market for Wire Closure Devices, By Material, 2016-2023 (USD Million)
Table 10 Sternal Closure Systems Market for Wire Closure Devices, By Region, 2016-2023 (USD Million)
Table 11 North American Market for Wire Closure Devices, By Country, 2016-2023 (USD Million)
Table 12 European Market for Wire Closure Devices, By Country, 2016-2023 (USD Million)
Table 13 APAC Market for Wire Closure Devices, By Country, 2016-2023 (USD Million)
Table 14 Global Market for Plate & Screw Closure Devices, By Material, 2016-2023 (USD Million)
Table 15 Sternal Closure Systems Market for Plate & Screw Closure Devices, By Region, 2016-2023 (USD Million)
Table 16 North American Market for Plate & Screw Closure Devices, By Country, 2016-2023 (USD Million)
Table 17 European Market for Plate & Screw Closure Devices, By Country, 2016-2023 (USD Million)
Table 18 APAC Market for Plate & Screw Closure Devices, By Country, 2016-2023 (USD Million)
Table 19 Global Market for Cable Closure Devices, By Material, 2016-2023 (USD Million)
Table 20 Sternal Closure Systems Market for Cable Closure Devices, By Region, 2016-2023 (USD Million)
Table 21 North American Market for Cable Closure Devices, By Country, 2016-2023 (USD Million)
Table 22 European Market for Cable Closure Devices, By Country, 2016-2023 (USD Million)
Table 23 APAC Market for Cable Closure Devices, By Country, 2016-2023 (USD Million)
Table 24 Global Market for Clip Closure Devices, By Material, 2016-2023 (USD Million)
Table 25 Sternal Closure Systems Market for Clip Closure Devices, By Region, 2016-2023 (USD Million)
Table 26 North American Market for Clip Closure Devices, By Country, 2016-2023 (USD Million)
Table 27 European Market for Clip Closure Devices, By Country, 2016-2023 (USD Million)
Table 28 APAC Market for Clip Closure Devices, By Country, 2016-2023 (USD Million)
Table 29 Sternal Closure Systems Market for Bone Cement, By Region, 2016-2023 (USD Million)
Table 30 North American Market for Bone Cement, By Country, 2016-2023 (USD Million)
Table 31 Europe Market for Bone Cement, By Country, 2016-2023 (USD Million)
Table 32 APAC Market for Bone Cement, By Country, 2016-2023 (USD Million)
Table 33 Sternal Closure Systems Market, By Procedure, 2016-2023 (USD Million)
Table 34 Global Market for Median Sternotomy, By Region, 2016-2023 (USD Million)
Table 35 Global Market for Hemisternotomy, By Region, 2016-2023 (USD Million)
Table 36 Global Market for Bilateral Thoracosternotomy, By Region, 2016-2023 (USD Million)
Table 37 Global Market for Closure Devices, By Material, 2016-2023 (USD Million)
Table 38 Global Market for Closure Devices, By Region, 2016-2023 (USD Million)
Table 39 Sternal Closure Systems Market for Stainless Steel-Based Closure Devices, By Region, 2016-2023 (USD Million)
Table 40 Global Market for PEEK-Based Closure Devices, By Region, 2016-2023 (USD Million)
Table 41 Global Market for Titanium-Based Closure Devices, By Region, 2016-2023 (USD Million)
Table 42 Global Market, By Region, 2016-2023 (USD Million)
Table 43 North America: Sternal Closure Systems Market, By Country, 2016-2023 (USD Million)
Table 44 North America: Market, By Product, 2016-2023 (USD Million)
Table 45 North America: Market, By Procedure, 2016-2023 (USD Million)
Table 46 North America: Market for Closure Devices, By Material, 2016-2023 (USD Million)
Table 47 Key Reimbursement Codes for Sternal Closure in the US (As of 2017)
Table 48 US: Market, By Product, 2016-2023 (USD Million)
Table 49 Canada: Market, By Product, 2016-2023 (USD Million)
Table 50 Europe: Market, By Country, 2016-2023 (USD Million)
Table 51 Europe: Market, By Product, 2016-2023 (USD Million)
Table 52 Europe: Market, By Procedure, 2016-2023 (USD Million)
Table 53 Europe: Market for Closure Devices, By Material, 2016-2023 (USD Million)
Table 54 Germany: Sternal Closure Systems Market, By Product, 2016-2023 (USD Million)
Table 55 UK: Sternal Closure Systems Market, By Product, 2016-2023 (USD Million)
Table 56 France: Market, By Product, 2016-2023 (USD Million)
Table 57 RoE: Market, By Product, 2016-2023 (USD Million)
Table 58 Asia Pacific: Sternal Closure Systems Market, By Country, 2016-2023 (USD Million)
Table 59 Asia Pacific: Market, By Product, 2016-2023 (USD Million)
Table 60 Asia Pacific: Market, By Procedure, 2016-2023 (USD Million)
Table 61 Asia Pacific: Market for Closure Devices, By Material, 2016-2023 (USD Million)
Table 62 Japan: Sternal Closure Systems Market, By Product, 2016-2023 (USD Million)
Table 63 China: Market, By Product, 2016-2023 (USD Million)
Table 64 India: Market, By Product, 2016-2023 (USD Million)
Table 65 RoAPAC: Market, By Product, 2016-2023 (USD Million)
Table 66 RoW: Sternal Closure Systems Market, By Product, 2016-2023 (USD Million)
Table 67 RoW: Market, By Procedure, 2016-2023 (USD Million)
Table 68 RoW: Market for Closure Devices, By Material, 2016-2023 (USD Million)
Table 69 Global Market Ranking, By Key Players (2017)

List of Figures
Figure 1 Global Sternal Closure System Market: Research Methodology Steps
Figure 2 Research Design
Figure 3 Primary Research Framework: Breakdown of Primary Respondents
Figure 4 Bottom-Up Approach: Product Sales-Based Analysis
Figure 5 Bottom-Up Approach: Revenue-Based Analysis
Figure 6 Top-Down Approach
Figure 7 Market Estimation and Data Triangulation Methodology
Figure 8 Sternal Closure Systems Market Share, By Product (2017)
Figure 9 Global Market, By Procedure, 2017 (USD Million)
Figure 10 Sternal Closure D Market for Closure Devices, By Material, 2017 (USD Million)
Figure 11 North America Dominated the Global Market in 2017
Figure 12 Global Market to Offer Significant Growth Opportunities to Major Stakeholders During the Next Decade
Figure 13 Closure Devices to Dominate the Global Market in 2018
Figure 14 Median Sternotomy Segment Will Continue to Dominate the Global Market in 2023
Figure 15 Titanium Segment to Witness the Highest Growth During the Forecast Period
Figure 16 Asia Pacific to Register the Highest Growth Rate During the Forecast Period
Figure 17 Sternal Closure Systems Market: Drivers, Restraints, & Opportunities
Figure 18 Annual Healthcare Expenditure (%GDP): Developed vs Developing Countries (2010-2016)
Figure 19 Closure Devices to Witness the Highest Growth During the Forecast Period
Figure 20 Median Sternotomy Segment to Witness the Highest Growth in the Sternal Closure Systems Market During the Forecast Period
Figure 21 Titanium Segment to Witness the Highest Growth During the Forecast Period
Figure 22 North America: Market Snapshot
Figure 23 Europe: Market Snapshot
Figure 24 Asia Pacific: Market Snapshot
Figure 25 Key Developments in the Market, 2015-2017
Figure 26 Johnson & Johnson: Company Snapshot (2017)
Figure 27 Zimmer Biomet Holdings: Company Snapshot (2017)
Figure 28 Orthofix International N.V.: Company Snapshot (2017)

Note: Product cover images may vary from those shown
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  • A&E Medical
  • Abyrx
  • Acute Innovations
  • Changzhou Waston Medical Appliance Company Limited
  • Depuy Synthes (A Part of Johnson & Johnson)
  • Dispomedica
  • Idear S.R.L
  • Jace Medical
  • Jeil Medical Corporation
  • KLS Martin Group
  • Kinamed Incorporated
  • Media Group Australia Pty Ltd
  • Orthofix International N.V.
  • Praesidia SRL
  • Zimmer Biomet Holdings
Note: Product cover images may vary from those shown
6 of 6
Note: Product cover images may vary from those shown
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