North America Sternal Closure Systems Market Trend, Opportunity, and Forecast Analysis, 2024-2032

North America Sternal Closure Systems Market Highlights

The North America sternal closure systems market is expected to cross a market size of USD 2230.41 million by the end of 2032. The market size was valued at USD 1387.64 million in 2023 and is expected to expand at a CAGR of 7.9% between 2024-2032.

• Over the mid-term, the growing prevalence of cardiovascular diseases is the primary factor anticipated to drive the North America sternal closure systems market.
• The availability of alternate closure methods is a major factor to challenge the market growth.
• The United States sternal closure systems market is projected to dominate the market.

North America Sternal Closure Systems Market Outlook

The medical devices that is used to close the sternum or the breastbone post the surgical procedures involving the median sternotomy, is known as sternal closure systems. These systems play an important role for stabilizing the sternum post-surgery to promote proper healing and minimize the risk of complications, such as mediastinitis and sternal dehiscence.

According to our experts at KD Market Insights, one of the primary factors associated with the growth of the North America sternal closure systems market is the growing prevalence of cardiovascular diseases in the region. The American Heart Association stated that heart disease in the United States had been the #1 killer for over a century. The nation recorded 931578 cardiovascular related deaths in the year 2023, up from 928741 deaths in the previous year. An increase in the prevalence of cardiovascular diseases in the region would increase the number of cardiovascular surgeries, such as coronary artery bypass grafting (CABG) and valve replacement procedures, which in turn, would raise the demand for sternal closure systems. DePuy Synthes (Johnson & Johnson), Zimmer Biomet Holdings, Inc., and Medtronic plc are some of the significant parties in the market for North America sternal closure systems.

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North America Sternal Closure Systems Market Drivers – Analyst’s Observation

According to the analysts at KD Market Insights, some key growth drivers for the North America sternal closure systems market are:

• Growing Emphasis on Minimally Invasive Surgeries: The demand for minimally invasive surgeries in North America is growing rapidly. Surgeons in the region are rapidly preferring these surgical techniques as it allows smaller incisions, reduced tissue trauma, and quicker recovery time. Sternal closure systems allow surgeons to be practiced as a minimally invasive technique, for which, these systems are widely being adopted during cardiac procedures, thoracic surgeries, and certain orthopedic surgeries.
• Increasing Number of Obesity-Related Surgeries: The rate of obesity in North America is on the rise. According to the statistics by the U.S. Centers for Disease Control and Prevention (CDC), the prevalence of obesity in the U.S. was 41.9% in 2017-March 2020 period. An increase in obesity rates in the region would lead to an increase in obesity-related health conditions, such as, heart disease and diabetes, and in turn, increase the number of bariatric surgeries, such as gastric bypass and sleeve gastrectomy. These surgical procedures often require sternal closure systems, which is expected to contribute to the market growth during the forecast period.

Which Probable Factors Could Hamper the Growing North America Sternal Closure Systems Market Trend?

As per our KD Market Insights analysis, some of the challenges expected to limit the market growth of North America sternal closure systems are:

• Stringent Regulatory Requirements: The sternal closure systems has to face several approval processes and the manufacturers of these devices have to follow stringent regulatory requirements. These stringent procedures may pose a barrier to entry for all those smaller companies who may enter newly into this market.
• Availability of Alternative Closure Methods: The growing availability of alternative methods for sternal closure, such as traditional wire closure, or other newer techniques, such as bioabsorbable fixation devices, that are often available at a lower cost, is also expected to restrict the market growth.

How is the North America Sternal Closure Systems Market Segmented?

Our experts at KD Market Insights have segmented the North America sternal closure systems market research report as:

What are the Probable Factors Influencing the United States Sternal Closure Systems Market Forecast?

The United States sternal closure systems market is majorly driven by an explosive aging population who are undergoing age-related conditions that require surgical intervention. Besides this, the nation is known to have a strong healthcare system that not just provides financial support from the government’s end, but also ensures fast regulatory approval during emergency cases. The Centers for Medicare & Medicaid Services of the U.S. government stated that healthcare spending in the nation grew by 4.1% in the year 2022 reaching USD 4.5 trillion, while the health spending as a share of the nation’s GDP accounted for 17.3%.

As per our analysts at KD Market Insights, the following five players lead the Canada sternal closure systems market growth:

• Johnson & Johnson Medical Companies
• Zimmer Biomet
• Stryker Corporation
• Medtronic plc
• A&E Medical

Which Key Players Top the North America Sternal Closure Systems Market Share?

As per our analysts at KD Market Insights, the competitive landscape of North America sternal closure systems market facilitates our readers in identifying their closest competitors. The manufacturers who are associated with North America sternal closure systems market are raising their focus on expanding their presence, as well as their market share. The market has also been witnessing an upward movement in the number of collaborations between research institutions and key players, aimed at introducing advanced technologies and innovation of new products. Here is a list of the key players who top the North America sternal closure systems market share:

• DePuy Synthes (Johnson & Johnson)
• Zimmer Biomet Holdings, Inc.
• Medtronic plc
• Stryker Corporation
• A&E Medical Corporation
• Kinamed, Inc.
• Acute Innovations LLC
• IDEAL Medical Products, Inc.
• Kinetic Concepts, Inc. (Acelity)
• Pfm medical, Inc.
• AtriCure, Inc.
• Innovia Medical Inc.

What are the Recent Developments Observed in the North America Sternal Closure Systems Market?

Over the years, the experts at KD Market Insights have been observing the recent developments associated with North America sternal closure systems market trends. Our expert’s market forecast analysis has recorded the market players adopting plentiful of key strategies including new product launches, mergers & acquisitions, and collaborations.

For instance, Zimmer Biomet Holdings, Inc. stated that it has launched a new sternal closure system that has been designed to enhance sternal stability and patient outcomes.

Further, Medtronic plc stated that it has received FDA clearance for its latest sternal closure device that is used for cardiac and thoracic surgeries.