Global Wire Cerclage Sternal Closure Systems Market, By Product (Closure Devices, Bone Cement), Procedure (Median Sternotomy, Hemisternotomy, Bilateral Thoracosternotomy), Fixation Techniques (Wiring Fixation Techniques, Plate-Screw Systems, Interlocking Systems, Cementing, Vacuum Assisted Closure), Material (Stainless Steel, PEEK, Titanium, Others), End Users (Hospitals, Specialized Surgical Centres) – Industry Trends and Forecast to 2030.
Wire Cerclage Sternal Closure Systems Market Analysis and Size
The growing number of open-heart surgeries and the increasing geriatric population globally is anticipated to increase the market growth. For instance, the N.I.H. article published in 2022 mentioned that more than 2 million people globally have open-heart surgery yearly to treat numerous heart problems. All these surgeries demand the high use of closure systems. The market is also affected by the increase in the target patient population and the significant rise in surgical operations.
Data Bridge Market Research analyses that the wire cerclage sternal closure systems market, which was USD 2,266.4 million in 2022, would rise to USD 4,289.15 million by 2030 and is expected to undergo a CAGR of 8.30% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Wire Cerclage Sternal Closure Systems Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD million, Volumes in Units, Pricing in USD
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Segments Covered
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Product (Closure Devices, Bone Cement), Procedure (Median Sternotomy, Hemisternotomy, Bilateral Thoracosternotomy), Fixation Techniques (Wiring Fixation Techniques, Plate-Screw Systems, Interlocking Systems, Cementing, Vacuum Assisted Closure), Material (Stainless Steel, PEEK, Titanium, Others), End Users (Hospitals, Specialized Surgical Centres)
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Countries Covered
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U.S., Canada, and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (M.E.A.) as a part of Middle East and Africa (M.E.A.), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Zimmer Biomet (U.S.), Medical Devices Business Services, Inc. (U.S.), K.L.S. Martin Group (Germany), Acute Innovations L.L.C. (U.S.), IDEAR S.R.L (Argentina), A&E Medical Corporation (U.S.), Kinamed Incorporated (U.S.), JACE Medical, L.L.C. (U.S.), Dispomedica (Germany), ABYRX, INC. (U.S.), JEIL MEDICAL CORPORATION (South Korea), Changzhou Waston Medical Appliance Co., Ltd. (China), Teleflex Incorporated (U.S.), B. Braun Melsungen AG (Germany), Sklar Surgical Instruments (U.S.)
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Market Opportunities
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Market Definition
Sternal closure systems close the breastbone, post heart, and thoracic cavity surgeries. These treatments fix and stabilize the anterior chest wall and encourage fusion. Sternal closure systems increase bone stability, healing, and pain management. These cables are composed of braided metallic material often used in heart surgery. Steel wires are now widely available from manufacturers to patients suffering from elective heart surgery to prevent bone rupture during median sternotomies.
Global Wire Cerclage Sternal Closure Systems Market Dynamics
Drivers
- Growing Product Approvals Associated with Wire Cerclage Sternal Closure Systems
Increasing product approvals are likely to contribute to the market's growth. For instance, Able Medical Devices received 510(k) clearance from the United States Food and Drug Administration (U.S. F.D.A.) for its Valkyrie Thoracic Fixation System in 2021. It is used for chest wall fracture stabilization, which includes sternal fixation after sternotomy and sternal reconstructive surgical procedures for patients suffering from the normal and poor bone. This factor leads to the growth of the market.
- Increasing Rate of Heart Surgeries
Heart surgery rates are anticipated to increase the demand for wire cerclage sternal closure systems. For instance, the NCBI article published in 2022 stated that nearly 400,000 coronary artery bypass grafting surgeries are performed every year globally. Likewise, as per the article published by NCBI, about 29,947 isolated coronary artery bypass grafting procedures, 36,714 isolated heart valve procedures, and 750 assist device implantations were conducted in Germany in 2021. Therefore, the increasing number of heart surgeries, wherein the sternal closure wires are widely used in surgical procedures, are also estimated to contribute to the market's growth.
Opportunities
- Increasing Public Healthcare Infrastructure
Several emerging countries are primarily investing in public healthcare infrastructure because of the rise in non-communicable disease burden and injuries, which will surge the number of surgical procedures in these regions. As per the data published by the world bank, China's per capita healthcare expenditure was USD 425.6, accounting for 5.3% of G.D.P. in 2015. Additionally, the Plan of Health China 2030 states that by 2020 healthcare spending is anticipated to account for 6.5% to 7% of its total G.D.P. Thus, this factor boosts the market growth.
- Increasing Demand for Titanium Material in Systems
Titanium seems to attract huge growth in manufacturing wire cerclage sternal closure systems. This dominance is because of the associated benefits such as the ability to join human bones, corrosion-resistant effectively, and biocompatibility of titanium. In addition, the non-ferromagnetic property, which enables patients with titanium implants to evaluate safely under magnetic resonance imaging (M.R.I.) scan, is further increasing the penetration of these materials in the market. Thus, this factor serves as a major factor that increases market growth.
Restraints/Challenges
- Complications of Wire Cerclage Sternal Closure Systems
Numerous effects are associated with wire cerclage sternal closure systems. Unstable steel wire cerclage after open heart surgery increases pain, sternal cut-through, non-union, or dehiscence. These complications cause longer hospital stays, higher costs, increased morbidity, and patient dissatisfaction. Thus, this factor impedes market growth.
This wire cerclage sternal closure systems market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the wire cerclage sternal closure systems market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- In 2021, Able Medical Devices announced the launch of the Valkyrie Thoracic Fixation System. The device is the first single-use radiolucent plating system released on the market that is solely for use after open heart surgery to span the osteotomy and close the sternum.
Global Wire Cerclage Sternal Closure Systems Market Scope
The wire cerclage sternal closure systems market is segmented on the basis of product, procedure, fixation technique, material and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Closure Devices
- Bone Cement
Procedure
- Median Sternotomy
- Hemisternotomy
- Bilateral Thoracosternotomy
Fixation Techniques
- Wiring Fixation Techniques
- Plate-Screw Systems
- Interlocking Systems
- Cementing Vacuum Assisted Closure
Material
- Stainless Steel
- Polyether Ether Ketone (PEEK)
- Titanium
- Others
End User
- Hospitals
- Specialized Surgical Centre
Wire Cerclage Sternal Closure Systems Market Regional Analysis/Insights
The wire cerclage sternal closure systems market is analyzed and market size insights and trends are provided by product, procedure, fixation technique, material and end-user as referenced above.
The countries covered in the wire cerclage sternal closure systems market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (M.E.A.) as a part of Middle East and Africa (M.E.A.), Brazil, Argentina and Rest of South America as part of South America.
North America is expected to grow during the forecast period the wire cerclage sternal closure systems market due to the incidence of heart-related disorders such as cardiac arrest and valvar heart disease. Also, rising collaborative efforts by major market players to increase their product service and assure high-quality standards are further expected to increase the demand for systems across the region
Asia-Pacific dominates the market in the forecast period due to the increasing awareness about cardiac diseases and treatment in the region. Furthermore, increasing healthcare expenditure, infrastructure facilities, and awareness about cardiac diseases will further boost the growth in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The wire cerclage sternal closure systems market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for wire cerclage sternal closure systems market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the wire cerclage sternal closure systems market. The data is available for historic period 2011-2021.
Competitive Landscape and Wire Cerclage Sternal Closure Systems Market Share Analysis
The wire cerclage sternal closure systems market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to wire cerclage sternal closure systems market.
Some of the major players operating in the wire cerclage sternal closure systems market are:
- Zimmer Biomet (U.S.)
- Medical Devices Business Services, Inc. (U.S.
- K.L.S. Martin Group (Germany)
- Acute Innovations L.L.C. (U.S.)
- IDEAR S.R.L (Argentina)
- A&E Medical Corporation (U.S.)
- Kinamed Incorporated (U.S.)
- JACE Medical, L.L.C. (U.S.)
- Dispomedica (Germany)
- ABYRX, INC. (U.S.)
- JEIL MEDICAL CORPORATION (South Korea)
- Changzhou Waston Medical Appliance Co., Ltd. (China)
- Teleflex Incorporated (U.S.)
- B. Braun Melsungen AG (Germany)
- Sklar Surgical Instruments (U.S.)
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