Sternal Closure Systems Market Worth 2.61 Billion USD by 2023

Monday, April 23, 2018 Research News
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PUNE, India, April 23, 2018 /PRNewswire/ --

According to a new market research report "Sternal Closure Systems Market

 by Product (Closure Devices (Wire, Plate, Screw, Cable,), Bone Cement), Procedure (Median Sternotomy, Hemisternotomy, Bilateral Thoracosternotomy), Material (Stainless Steel, Peek, Titanium) - Global Forecast to 2023", published
by MarketsandMarkets™, the global sternal closure systems market is projected to reach USD 2.61 Billion by 2023 from USD 2.02 Billion in 2018, at a CAGR of 5.2% during the forecast period.

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Browse 69 market data Tables and 28 Figures spread through 123 Pages and in-depth TOC on "Sternal Closure Systems"

https://www.marketsandmarkets.com/Market-Reports/sternal-closure-system-market-152164684.html Early buyers will receive 10% customization on reports

Factors such as technological advancements in sternotomy techniques, increasing target patient population coupled with the subsequent increase in the number of surgical procedures, and growing availability of medical reimbursements across major markets are expected to drive the demand for sternal closure systems during the study period.

Based on product, the closure devices segment is expected to register the highest growth rate during the forecast period 

Based on product, the sternal closure systems market is divided into closure devices and bone cement. Among these segments, closure devices are expected to grow at the highest CAGR during the forecast period. Factors such as increasing number of complex cardiovascular surgeries and growing availability of medical reimbursements across developed markets are expected to drive the growth of the closure devices segment in the next five years.

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Based on procedure, the median sternotomy segment is estimated to be the largest segment of the market in 2018 

The sternal closure systems market is segmented by procedure into median sternotomy, hemisternotomy, and bilateral thoracosternotomy. The median sternotomy segment is expected to account for the largest share of the sternal closure systems market in 2018, owing to rising number of critical patients suffering from cardiovascular diseases.

Based on material, the titanium material segment is expected to register the fastest growth rate in the forecast period 

Based on material, the sternal closure systems market for closure devices is classified into stainless steel, PEEK, and titanium products. The titanium products segment is expected to grow at the highest CAGR during the forecast period. This can be attributed to the increased market focus on titanium products due to the associated advantages and economies-of-scale, growing number of clinical research studies to evaluate the clinical efficacy of these products during sternal closure, and increased commercialization of titanium-based sternal closure systems across developed countries.

In 2017, North America accounted for the largest share of the sternal closure systems market 

Geographically, the sternal closure systems market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America accounted for the largest share of the market in 2017. The presence of a large patient population accompanied by a well established medical reimbursement policy is expected to drive the growth of this region.

As of 2017, the major players in the sternal closure systems market are DePuy Synthes (US), Zimmer Biomet Holdings (US), and A&E Medical (US). Other players in this market include KLS Martin Group (US), Orthofix International N.V. (US), ABYRX (US), Acute Innovations (US), Kinamed Incorporated (US), Praesidia Srl (Italy), and IDEAR S.R.L. (Argentina) among others.

Know more about the Sternal Closure Systems Market:  

https://www.marketsandmarkets.com/Market-Reports/sternal-closure-system-market-152164684.html

About MarketsandMarkets™  

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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SOURCE MarketsandMarkets

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