Sternal Closure Systems Market Size, Share, Growth Analysis, By Product(Closure Devices [Wires, Plates and Screws, Cable, Clips]), By Procedure(Median Sternotomy, Hemisternotomy, Bilateral Thoracosternotomy), By Material(Titanium, Stainless Steel, Polyetheretherketone (PEEK)), By Region - Industry Forecast 2024-2031

Global Sternal Closure Systems Market size was valued at USD 2.2 billion in 2022 and is poised to grow from USD 2.31 billion in 2023 to USD 3.47 billion by 2031, growing at a CAGR of 5.20% during the forecast period (2024-2031).

Sternal closure systems market is a vital segment in the medical devices industry, comprising products to close the sternum after heart operations. The market is propelled by the growing incidences of cardiac diseases, improvements in surgical techniques, and growing number of innovations. the rising cases of cardiovascular diseases on the global scale is fueling the demand for cardiac procedures. This ultimately increases the demand for sternal closure products. Improvements in less invasive surgical methods significantly decrease recovery times and aid better patient outcomes. This increases the number of surgeries conducted, thus impacting the market growth. Ongoing developments of improved techniques and materials are enhancing the efficacy and safety of sternal closure systems. 

However, the global sternal closure systems market is negatively impacted by the significant cost of these systems, associated risks and complications, and regulatory challenges. The high-priced advanced closure systems may notably restrict their adoption in emerging nations with limited budgets or low funding. Possible associated complications with closure systems like non-union and infections may prevent healthcare professionals and providers from using some products for their patients. Strict regulatory needs and prolonged approval procedures may delay the emergence of novel products in the market. Yet, the market is opportune to significant growth due to factors like increasing healthcare expenditure in the developing nations, continuous research and development for the introduction of novel products and techniques, and collaborations among healthcare institutes and manufacturers.

US Sternal Closure Systems Market is poised to grow at a sustainable CAGR for the next forecast year.