Healthcare Insights

U.S. Sternal Closure Systems Market Size to Surpass USD 1,178.4 Mn by 2033

Healthcare Insights

The U.S. sternal closure systems market was estimated at USD 749.43 million in 2023 and it is expected to surpass around USD 1,178.4 million by 2033, poised to grow at a CAGR of 4.63% from 2024 to 2033.

U.S. Sternal Closure Systems Market Overview

The U.S. sternal closure systems market holds significant importance within the healthcare sector, playing a pivotal role in post-operative care and patient recovery. These systems are integral to a range of surgical procedures, notably cardiac surgeries, where they are utilized to achieve secure wound closure and stabilize the sternum. This overview offers insights into the dynamics, trends, and key factors influencing the landscape of the U.S. sternal closure systems market.

U.S. Sternal Closure Systems Market Growth

The growth of the U.S. sternal closure systems market is driven by several key factors. Firstly, the increasing incidence of cardiovascular diseases fuels the demand for cardiac surgeries, thereby boosting the adoption of sternal closure systems. Secondly, ongoing technological advancements in surgical techniques and closure device designs enhance the safety, effectiveness, and usability of these systems, driving market expansion. Additionally, there is a growing preference for minimally invasive procedures, leading to higher demand for sternal closure systems that enable less invasive sternotomy approaches. This results in quicker recovery times and improved patient outcomes. Collectively, these factors contribute to the growth trajectory of the U.S. sternal closure systems market, establishing it as a crucial segment within the healthcare industry.

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Procedure Insights

In 2023, medial sternotomy held the largest market share at 52%. This procedure provides access to the heart, lungs, and surrounding structures, making it the preferred choice for heart valve replacement and coronary artery bypass surgeries. Medial sternotomy is renowned for its ability to minimize postoperative infections and complications, contributing to its growing demand in the global sternal closure systems market. The increasing elderly population, susceptible to chronic cardiovascular conditions, is expected to further drive the demand for medial sternotomy procedures.

On the other hand, the bilateral thoracosternotomy segment is poised for rapid expansion, projected to achieve the highest compound annual growth rate (CAGR) from 2024 to 2033. Also known as the clamshell incision, bilateral thoracosternotomy offers a viable option for lung transplantation, particularly in cases of end-stage pulmonary disorders such as Chronic Obstructive Pulmonary Disease (COPD), cystic fibrosis, and emphysema. With the growing prevalence of these conditions, the demand for lung transplantation procedures is anticipated to significantly boost market growth.

Material Type Insights

In 2023, stainless steel held the largest market share, accounting for approximately 28%. This dominance is attributed to the abundant availability of raw material suppliers and the economic feasibility and affordability associated with stainless steel. Known for its cost-effectiveness, durability, and ease of manufacturing, stainless steel remains a favored material type in the sternal closure systems market. Moreover, the market is witnessing an increase in new product launches by various companies, further driving the growth of stainless steel in this sector.

Meanwhile, the titanium segment is poised to experience the fastest compound annual growth rate (CAGR) from 2024 to 2033. This growth trajectory is fueled by several factors, including titanium’s corrosion resistance, its ability to effectively fuse with human bones, biocompatibility, and non-ferromagnetic properties. Notably, the non-ferromagnetic nature of titanium implants allows patients to safely undergo magnetic resonance imaging (MRI) scans. Additionally, the high efficacy, non-toxicity, and stability of titanium products contribute to their growing popularity within the sternal closure systems market.

Product Insights

In 2023, closure devices emerged as the dominant type, capturing the highest market share of 73%. This segment is poised to maintain its lead and experience the fastest compound annual growth rate (CAGR) throughout the forecast period. The growth of closure devices is attributed to their ability to minimize post-surgical complications and facilitate quicker recovery outcomes. Additionally, advancements in technology, extensive mergers and acquisitions, and the introduction of innovative products are driving market expansion. For instance, in November 2023, Orthofix Medical Inc. launched WaveForm L, a lateral lumbar interbody system tailored for lateral lumbar interbody fusion (LLIF) procedures, offering enhanced strength and stability.

Conversely, the bone cement segment is anticipated to witness significant growth at a noteworthy CAGR from 2024 to 2033. This growth trajectory is propelled by the increasing number of median sternotomy procedures and the rising prevalence of cardiovascular disorders in the U.S. Combining bone cement with wires has emerged as an alternative to traditional sternal closure methods. Market players are prioritizing strategic partnerships and funding initiatives to bolster their research and development capabilities, thereby expanding their product portfolios.

Read More: https://www.heathcareinsights.com/u-s-teleradiology-market/

U.S. Sternal Closure Systems Market Key Companies

Recent Developments

U.S. Sternal Closure Systems Market Segmentations:

By Product

By Procedure

By Material

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