Global Sternal Closure Systems Market Overview:
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.
As per latest study released by AMA Research, the Global Sternal Closure Systems market is expected to see growth rate of 5.4%Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Growth Drivers
- Rise in the Number of Surgical Procedures Globally
- Technological Advancements in Sternotomy Techniques
Roadblocks
- Gaining Popularity of Alternative Procedures
- High Cost of Devices
Opportunities
- Favorable Reimbursement Policies in Developing Countries
- Growth in Emerging Markets
Challenges
- Lack of Skilled Healthcare Professionals
- Risks of Getting Infected due to Sternum Closure Devices
Competitive Landscape:
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies.
Some of the key players profiled in the report are 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). Analyst at AMA Research see United States Players to retain maximum share of Global Sternal Closure Systems market by 2027. Considering Market by Procedure, the sub-segment i.e. Median Sternotomy will boost the Sternal Closure Systems market. Considering Market by Closure Material, the sub-segment i.e. Stainless Steel will boost the Sternal Closure Systems market. Considering Market by End User, the sub-segment i.e. Hospitals & Clinics will boost the Sternal Closure Systems market.
Latest Market Insights:
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.
What Can be Explored with the Sternal Closure Systems Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Sternal Closure Systems Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Sternal Closure Systems
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Sternal Closure Systems market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Sternal Closure Systems market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Venture 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.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.