Europe Sternal Closure Systems Market Size, Share | Report 2023-2032
The Europe sternal closure systems market was estimated at USD 762.10 million in 2022 and it is expected to surpass around USD 1,229.61 million by 2032, poised to grow at a CAGR of 4.9% from 2023 to 2032.
Key Pointers
| Report Coverage | Details |
| Market Size in 2022 | USD 762.10 million |
| Revenue Forecast by 2032 | USD 1,229.61 million |
| Growth rate from 2023 to 2032 | CAGR of 4.9% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Companies Covered | Zimmer Biomet; Johnson & Johnson; B. Braun Melsungen AG; Orthofix Holdings, Inc.; GE Healthcare; KLS Martin Group; A&E Medical Corporation; Jace Medical, LLC; Acute Innovations; Abyrx, Inc.; Kinamed Incorporated |
The increasing prevalence of cardiothoracic procedures, the launch of technologically advanced products, and favorable regulatory scenarios are some of the major factors anticipated to fuel the sternal closure systems industry’s growth during the forecast period. The COVID-19 pandemic negatively impacted market growth. Most of the surgeries have been given less priority owing to COVID-19, while other medical device markets have come to the front during the COVID-19 times. The disruption caused by the COVID-19 pandemic to international supply chains has led to massive shortages of vital medical devices.
The COVID-19 pandemic has interrupted routine hospital services across the world. A reduction of around 75% for elective procedures was observed across all the countries to prevent the risk of infection. However, the challenges and restrictions raised by the COVID-19 pandemic have compelled medical device manufacturers to think in innovative ways, establishing growth opportunities in the surgical industry.
Rapid technological advancements, such as the use of biocompatible polymers including nitinol, pre-sternotomy plates, PEEK, tritium, and progress of minimal invasive median sternotomy procedures, are anticipated to foster market growth. For instance, in December 2020, Zimmer Biomet was acquired by A&E Medical and its complete product range of sternal closure devices including cable systems, sternal sutures, and rigid fixation products.
The increasing accessibility to reimbursement for various products and procedures is likely to fuel the market growth of the market. Rising per capita expenditure along with increasing adoption of health insurance in developed as well as developing economies is anticipated to augment the market growth.
In addition, emerging European countries such as Denmark, Netherlands, Sweden, and many others are creating lucrative opportunities owing to growing healthcare expenditure, infrastructure facilities, and rising awareness about cardiovascular disease treatment. To capitalize on the growing market demand, key players are expanding their presence in emerging regions and are focusing on commercializing their products at relatively low prices.
Europe Sternal Closure Systems Market Segmentations:
By Product
By Procedure
By Material
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Europe Sternal Closure Systems Market
5.1. COVID-19 Landscape: Europe Sternal Closure Systems Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Europe Sternal Closure Systems Market, By Product
8.1. Europe Sternal Closure Systems Market, by Product, 2023-2032
8.1.1 Closure Devices
8.1.1.1. Market Revenue and Forecast (2019-2032)
8.1.2. Bone Cement
8.1.2.1. Market Revenue and Forecast (2019-2032)
Chapter 9. Europe Sternal Closure Systems Market, By Procedure
9.1. Europe Sternal Closure Systems Market, by Procedure, 2023-2032
9.1.1. Median Sternotomy
9.1.1.1. Market Revenue and Forecast (2019-2032)
9.1.2. Hemisternotomy
9.1.2.1. Market Revenue and Forecast (2019-2032)
9.1.3. Bilateral Thoracosternotomy
9.1.3.1. Market Revenue and Forecast (2019-2032)
9.1.4. Others
9.1.4.1. Market Revenue and Forecast (2019-2032)
Chapter 10. Europe Sternal Closure Systems Market, By Material
10.1. Europe Sternal Closure Systems Market, by Material, 2023-2032
10.1.1. Titanium
10.1.1.1. Market Revenue and Forecast (2019-2032)
10.1.2. Polyether Ether Ketone (PEEK)
10.1.2.1. Market Revenue and Forecast (2019-2032)
10.1.3. Stainless Steel
10.1.3.1. Market Revenue and Forecast (2019-2032)
10.1.4. Others
10.1.4.1. Market Revenue and Forecast (2019-2032)
Chapter 11. Europe Sternal Closure Systems Market, Regional Estimates and Trend Forecast
11.1. Europe
11.1.1. Market Revenue and Forecast, by Product (1019-1031)
11.1.2. Market Revenue and Forecast, by Procedure (1019-1031)
11.1.3. Market Revenue and Forecast, by Material (1019-1031)
11.1.4. UK
11.1.4.1. Market Revenue and Forecast, by Product (1019-1031)
11.1.4.2. Market Revenue and Forecast, by Procedure (1019-1031)
11.1.4.3. Market Revenue and Forecast, by Material (1019-1031)
11.1.5. Germany
11.1.5.1. Market Revenue and Forecast, by Product (1019-1031)
11.1.5.2. Market Revenue and Forecast, by Procedure (1019-1031)
11.1.5.3. Market Revenue and Forecast, by Material (1019-1031)
11.1.6. France
11.1.6.1. Market Revenue and Forecast, by Product (1019-1031)
11.1.6.2. Market Revenue and Forecast, by Procedure (1019-1031)
11.1.6.3. Market Revenue and Forecast, by Material (1019-1031)
11.1.7. Rest of Europe
11.1.7.1. Market Revenue and Forecast, by Product (1019-1031)
11.1.7.2. Market Revenue and Forecast, by Procedure (1019-1031)
11.1.7.3. Market Revenue and Forecast, by Material (1019-1031)
Chapter 12. Company Profiles
12.1. Zimmer Biomet
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Johnson & Johnson
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. B. Braun Melsungen AG
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Orthofix Holdings, Inc.
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. GE Healthcare
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. KLS Martin Group
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. A&E Medical Corporation
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Jace Medical, LLC
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Acute Innovations
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Abyrx, Inc.
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers