Market Trends of Global Sternal Closure Systems Industry
This section covers the major market trends shaping the Sternal Closure Systems Market according to our research experts:
Wires Segment is Expected to Hold a Significant Share in the Market Over the Forecast Period.
Sternal closure with wires has become the standard because of the ease of use, speed of use, relatively low complication rate, and low cost of wires. Common closure methods use either interrupted or figure-of-eight wires to secure the sternal halves created during the median sternotomy. All wiring techniques, however, allow some movement and separation of sternal halves under physiologic loads. These minimal movements do not cause problems in most patients with healthy sternums unless the sternotomy is technically faulty. They may even promote faster bone healing by stimulating early callus formation.
The factors propelling the segment growth are increasing heart surgeries, the geriatric population, and the rising product developments by various key market players. For instance, the NCBI article published in August 2022 mentioned that almost 400,000 coronary artery bypass grafting surgeries are performed each year across the world. Similarly, according to the article published by NCBI in August 2022, approximately 29,947 isolated coronary artery bypass grafting procedures, 36,714 isolated heart valve procedures, and 750 assist device implantations were registered in Germany in 2021. Thus, the rising number of heart surgeries, among which the sternal closure wires are highly used in surgical procedures, are also expected to contribute to the growth of the studied segment.
On the other hand, the rising adoption of sternal closure wires due to their high efficiency in sternal closure procedures is expected to contribute to the market's growth. For instance, according to the NCBI study published in May 2022, stainless steel cerclage wires remain the most well-known and widely utilized sternal fixation technique. Hence, the growing utilization of wire products in the sternal closure is expected to drive segment growth over the forecast period.
Thus, the factors above are boosting the market segment's growth over the forecast period.
North America is Expected to Hold a Significant Share in the Market Over the Forecast Period.
North America is expected to hold the major share of the overall market, throughout the forecast period. The factors that are expected to contribute to the growth of the market in this region are the rising number of open-heart and coronary artery bypass grafting surgeries, the increasing geriatric population along with the advanced healthcare infrastructure.
For instance, as per the data published by Detroit Medical Center in 2022, approximately 500,000 people undergo open-heart surgery each year in the United States. Also, the data published by the New Jersey Department of Health in August 2022, there were 17,291 open heart surgeries in New Jersey in 2021. Similarly, the article published in NCBI article in May 2021 reported that about 15,000 people in Canada undergo coronary artery bypass grafting surgery each year. Furthermore, the rising geriatric population among the North American countries who are prone to cardiac disorders and in need of cardiac surgeries is also expected to drive the demand for sternal closure systems, thereby fueling the market growth. For instance, according to Statistics Canada, the senior population in Canada reached 2,308,041 in 2022, from 2,232,871 in 2021. Likewise, the UCAM data published in 2022, around 12% of the total Mexican population is over 60 years and older. Thus, the growing geriatric population in the region is expected to boost market growth over the forecast period.
Therefore, owing to the above-mentioned factors, the rising cardiac surgeries, the increasing geriatric population along with the presence of key market players in the North American region are expected to occupy a major share of the sternal closure system market during the forecast period of the study.
