What is Sternal Closure Systems Market?
Sternal closure systems are used in the stabilization as well as fixation of fractures of the anterior chest wall. The systems are used in sternal fixation following sternotomy and sternal reconstructive surgical procedures in order to promote fusion. The growing volume of surgical procedures carried out amid an increase in the prevalence of individuals suffering from the applicable disorders for these medical systems boosting the market growth. In addition, increasing research and development, as well as technology advancement in the system are fueling the market growth.
The market study is being classified by Type (Closure Devices, Wires, Plates & Screws, Cables, Clips and Bone Cement), by Application (Median Sternotomy, Hemisternotomy and Bilateral Thoracosternotomy) and major geographies with country level break-up.
DePuy Synthes (United States), Zimmer Biomet Holdings (United States), A&E Medical (United States), KLS Martin Group (United States), Orthofix International N.V. (United States), ABYRX (United States), Acute Innovations (United States), Kinamed Incorporated (United States), Praesidia Srl (Italy) and IDEAR S.R.L. (Argentina) are some of the key players profiled in the study.
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Sternal Closure Systems market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Sternal Closure Systems market by Type, Application and Region.
On the basis of geography, the market of Sternal Closure Systems has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rise in the Number of Surgical Procedures Globally
- Technological Advancements in Sternotomy Techniques
- Ongoing Research and Development Activities by Key Players
- Gaining Popularity of Alternative Procedures
- High Cost of Devices
- Favorable Reimbursement Policies in Developing Countries
- Growth in Emerging Markets
- Lack of Skilled Healthcare Professionals
- Risks of Getting Infected due to Sternum Closure Devices
Market Leaders and some development strategies
In Dec 2020, Zimmer Biomet has announced the acquisition of A&E Medical Corporation, a Vance Street Capital Portfolio Company, and its sternal closure portfolio, according to a press release.
Key Target AudienceVenture Capitalists and Private Equity Firms, New Entrants/Investors, Analyst and Strategic Business Planners, Sternal Closure Systems Providers, Government Regulatory and Research Organizations and End-Use Industries
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