Europe Sternal Closure Systems Market Size Worth $1.17 Billion By 2030

Europe Sternal Closure Systems Market Growth & Trends

The Europe sternal closure systems market size is expected to reach USD 1.17 billion by 2030, based on a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.9% from 2023 to 2030. The increasing number of R&D activities by key market players and the growing geriatric population base are some of the factors expected to fuel the market growth.

A rise in public awareness programs related to the importance of early medical intervention to prevent premature deaths due to cardiac arrest is a major factor leading to an increase in the number of surgeries being performed.

A sedentary lifestyle, poor nutrition, lack of physical activity, and smoking are some of the factors that have led to an increase in the prevalence of cardiovascular diseases, obesity, cancer, and diabetes globally. The rising prevalence of lifestyle disorders and increasing per capita expenditure are some of the key factors leading to an increase in the number of surgical procedures globally.

The growing geriatric population, which is susceptible to chronic cardiovascular disorders, is leading to an increase in the number of cardiovascular procedures, thus boosting the demand for sternal closure systems globally. Moreover, lack of exercise and poor nutrition increases the risk of heart disease among the elderly population. Furthermore, the easy availability of innovative and low-cost techniques in the market is anticipated to fuel the growth of the market in the near future.

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Europe Sternal Closure Systems Market Report Highlights

• Based on product, the closure devices segment held the highest market share in 2022 owing to its increased preference and high adoption rate

• Based on material, the titanium segment held a higher share in 2022 owing to benefits such as the biocompatibility of titanium corrosion-resistant, and the ability to effectively join human bones

• Based on procedure, median sternotomies held considerable market share owing to their increasing preference among the patients

• In terms of country, Germany held the highest market share in 2022 due to a rise in the prevalence of cardiothoracic surgeries and a well-established healthcare system

• The COVID-19 pandemic negatively impacted the sternal closure systems as it resulted in reduced hospital visits leading to a fall in the number of elective surgeries

• Some of the key market players are Zimmer Biomet; Johnson & Johnson; B. Braun Melsungen AG; Orthofix Holdings, Inc.; and GE Healthcare

Europe Sternal Closure Systems Market Segmentation

Grand View Research has segmented the Europe sternal closure systems market based on product, procedure, material, and country:

Europe Sternal Closure Systems Product Outlook (Revenue, USD Million, 2018 - 2030)

• Closure Devices

  • Sternal Closure Wires

  • Sternal Closure Plates and Screws

  • Sternal Closure Clips

  • Sternal Closure Cables

• Bone Cement

Europe Sternal Closure Systems Procedure Outlook (Revenue, USD Million, 2018 - 2030)

• Median Sternotomy

• Hemisternotomy

• Bilateral Thoracosternotomy

• Others
  

Europe Sternal Closure Systems Material Outlook (Revenue, USD Million, 2018 - 2030)

• Titanium

• Polyether Ether Ketone (PEEK)

• Stainless Steel

• Others

Europe Sternal Closure Systems Country Outlook (Revenue, USD Million, 2018 - 2030)

• Europe

  • U.K.

  • Germany

  • France

  • Italy

  • Spain

List of Key Players of the Europe Sternal Closure Systems Market

• Zimmer Biomet

• Johnson & Johnson

• Orthofix Holdings, Inc.

• GE Healthcare

• KLS Martin Group

• A&E Medical Corporation

• Jace Medical, LLC

• Acute Innovations

• Abyrx, Inc.

• Kinamed Incorporated