The Global Wire Cerclage Sternal Closure Systems Market Size is valued at 2.62 billion in 2022 and is predicted to reach 5.67 billion by the year 2031 at a 9.09% CAGR during the forecast period for 2023-2031.
Wire cerclage sternal closure systems are medical devices used to attach and stabilize the sternum (breastbone) after open-heart surgery, such as coronary artery bypass grafting (CABG) or valve replacement surgeries. These techniques anchor the sternum with stainless steel or titanium wires, aiding good healing and reducing problems due to the rise in the number of elderly patients undergoing open-heart surgery via median sternotomy.
It provides quick and easy access to heart valves and arteries; the median sternotomy operation has become the most popular approach for cardiac exposure. Rapid technological advances, such as the use of biocompatible polymers such as PEEK, tritium, and nitinol, pre-sternotomy plates, and the development of less-invasive median sternotomy procedures, are also expected to drive market growth. The global expansion in surgical procedures has increased the demand for surgical instruments.
However, due to lockdown measures, travel restrictions, and reduced industrial capacity, the pandemic caused disruptions in worldwide supply networks. Medical equipment manufacture, distribution, and availability were all hampered, including wire cerclage sternal closure systems. Disruptions in the supply chain could have caused short-term shortages or delayed deliveries of these systems, hurting the market.
Competitive Landscape:
Some of the major Wire Cerclage Sternal Closure Systems Market players are:
- Johnson & Johnson
- Orthofix Holdings, Inc.
- KLS Martin Group
- Jace Medical, LLC
- Abyrx, Inc.
- Zimmer Biomet
- GE Healthcare
- Acute Innovations
- B. Braun Melsungen AG
- Kinamed Incorporated
- A&E Medical Corporation
Market Segmentation:
The Wire Cerclage Sternal Closure Systems Market is segmented on the basis of product type, material, and procedure. Product type segment includes bone cement and closure devices. The material segment includes polyether ether ketone (PEEK), titanium, and stainless steel. By procedure, the market is segmented into hemisternotomy, median sternotomy, and bilateral thoracosternotomy.
Based On Product Type, The Closure Devices Segment Is Accounted As A Major Contributor In The Wire Cerclage Sternal Closure Systems Market
The closure devices category is expected to hold a major share in the global Wire Cerclage Sternal Closure Systems Market in 2022. The primary causes responsible for the segment's leading position are new launches as well as rising per capita expenditure in developed and emerging economies. Compared to bone cement, these devices have shown benefits such as a reduction in surgical problems and infections, as well as a speedier recovery time. Furthermore, increased efforts by market players to create new processes and product lines are expected to support segment growth in the near future.
The Median Sternotomy Segment Witnessed Growth At A Rapid Rate
The median sternotomy segment is projected to grow at a rapid rate in the global wire cerclage sternal closure systems market. Median sternotomies are common osteotomies performed around the world due to they allow simple access to the heart, lungs, and surrounding structures in coronary artery bypass and heart valve replacement surgery. Median sternotomies also decrease post-operative infections and complications, increasing their global demand.
In The Region, The North America Wire Cerclage Sternal Closure Systems Market Holds A Significant Revenue Share
The North America Wire Cerclage Sternal Closure Systems Market is expected to record the highest market share in terms of revenue in the near future. Rising collaborative efforts by key companies to strengthen their product offerings and ensure high-quality standards are expected to increase demand for systems throughout the area. Furthermore, the large share of North America can be linked to the region's high heart disease burden.
According to CDC research, approximately 28.1 million persons in the U.S. were diagnosed with heart-related illnesses such as cardiac arrest and valvular heart disease. Additionally, Asia Pacific is predicted to grow at a rapid pace during the forecast period as key players expand their geographical presence in the region and focus on commercializing their goods at a low cost.
Wire Cerclage Sternal Closure Systems Market Report Scope:
|
Report Attribute |
Specifications |
|
Market Size Value In 2022 |
USD 2.62 Bn |
|
Revenue Forecast In 2031 |
USD 5.67 Bn |
|
Growth Rate CAGR |
CAGR of 9.09 % from 2023 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
Type Of Technology, Product, Application, And End User |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Johnson & Johnson, Orthofix Holdings, Inc., KLS Martin Group, Jace Medical, LLC, Abyrx, Inc., Zimmer Biomet, GE Healthcare, Acute Innovations, B. Braun Melsungen AG, Kinamed Incorporated, and A&E Medical Corporation. |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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