In 2022, the global sternal closure systems market was worth around USD 2,212.3 million, and it is predicted to advance at a 5.2% CAGR from 2022 to 2030, hitting USD 3,323.4 million in 2030.
This development can be credited to the rise in the count of cardiothoracic surgeries, the surge in the acceptance of innovative sternal closure systems, and the surge in the count of elderly people throughout the world. On top of that, blood vessels and heart valves are simply and rapidly accessible in a median sternotomy procedure, which is why it is one of the most extensively conducted procedures for sternal closure.
The fast technological growths in treatments are likely to boost the development of this industry. For a long time, median sternotomy incisions have been used effectively in surgeries. To access the heart and lungs during cardiothoracic and cardiopulmonary operations, they are viewed as the best in the industry.
The product segment is divided into bone cement and closure devices, in which closure devices are dominating the industry, with a revenue share of 60% in 2022. The major reasons contributing to the growth are the launch of new products and the surge in the per capita surgery expenditure in both advanced and emerging nations.
According to analysis, in 2022, North America generated the highest revenue share of around 45%, in the sternal closure systems market, and the region is also projected to remain in the dominant position in the future as well. The surge in the efforts made by the key businesses to advance their product offerings and promise high operating quality will boost the demand for these solutions throughout the continent.
Hence, the rise in the count of cardiothoracic surgeries, the surge in the acceptance of innovative sternal closure systems, and the surge in the count of elderly people throughout the world are the major factors propelling the market.
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