Europe Sternal Closure Systems Market Size, Share & Trends Analysis Report By Product, By Procedure (Median Sternotomy, Hemisternotomy, Bilateral Thoracosternotomy), By Material, By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The Europe sternal closure systems market size was valued at 762.1 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 4.9% from 2023 to 2030. 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.  

Product Insights

Based on the product, the sternal closure systems market is bifurcated into bone cement and closure devices. The closure devices segment held the highest revenue share in 2022. These devices have various related benefits such as faster recovery, decrease in infections & postoperative complications. Several companies such as Zimmer Biomet, operating in the market are aiming on developing advanced closure devices in the market. Hence, making it the leading segment in terms of sales, and this trend is supposed to persist over the forecast period.

The bone cement segment is expected to experience maximum growth during the forecast period with a CAGR of 4.1%. Bone cement with wires is commonly used as an alternative to conventional sternal closure. Moreover, companies operating in the market are focusing on strategic alliances and funding activities to improve R&D capabilities, leading to the expansion of their product portfolios.

Procedure Insights

The median sternotomies segment accounted for the maximum revenue share in 2022. Median sternotomies are commonly performed osteotomies across the globe, as it provides easy access to the lungs, heart, and surrounding structures during coronary artery bypass surgery and heart valve replacement surgery. These procedures also minimize post-operative complications and infections, hence surging their demand throughout the world. Thus, above mentioned factors are anticipated to foster growth.

The bilateral thoracosternotomy segment is expected to experience significant growth with a CAGR of 5.4% over the forecast period. Bilateral thoracosternotomy serves as an alternative to median sternotomy for lung transplantation. Advancements in transplantation techniques and an increase in the number of lung transplant procedures due to the rise in the prevalence of Chronic Obstructive Pulmonary Disease (COPD), cystic fibrosis, & emphysema, are among the factors anticipated to drive market growth in the near future.     

Material Insights

Based on material, the sternal closure systems market is fragmented into stainless steel, titanium, polyether ether ketone, and others. The stainless steel segment accounted for the maximum revenue share in 2022. The abundant availability of stainless steel raw material suppliers and greater economic feasibility & affordability have made stainless steel-based sternal closure systems a preferred option in developing regions such as the Asia Pacific and the Middle East and Africa.

The titanium segment is expected to experience a considerable CAGR of 5.2% during the forecast period. The largest share held by the segment can be attributed to associated benefits such as corrosion resistance and biocompatibility of titanium. In addition, patients with titanium implants can safely undergo a magnetic resonance imaging (MRI) scan, thus surging the adoption of the titanium material. Rapid technological advancements and increasing launch & approval of new products are. fueling the growth of the segment.

Regional Insights

Germany held the largest revenue share in 2022 owing to the growing number of surgeries being performed to treat complex cardiovascular conditions. The rise in the number of surgeries can be attributed to a rapidly aging population, a sedentary lifestyle, and favorable reimbursement criteria in Japan. Moreover, ongoing clinical trials to incorporate advanced sternal closure techniques may further fuel the demand for sternal closure systems in the country.

France is expected to experience considerable growth owing to factors such as the growing geriatric population and increasing prevalence of cardiovascular diseases. According to a study conducted by the American Heart Association, in 2019, cardiovascular diseases accounted for around 800,000 deaths in the U.S. The study further states that in 2019, more than 90 million people in the U.S. were diagnosed with cardiovascular diseases. In addition, the presence of a favorable reimbursement framework is expected to fuel the growth.

Key Companies & Market Share Insights

The key players are focusing on expanding their market presence by implementing strategic initiatives such as product launches, partnerships, acquisitions, and collaborations. For instance, in December 2021, Johnson & Johnson Medical Devices Companies announced that DePuy Synthes has acquired OrthoSpin, Ltd develops and manufactures automated strut systems. Some prominent players in the Europe sternal closure systems market include:

• Zimmer Biomet

• Johnson & Johnson

• Orthofix Holdings, Inc.

• GE Healthcare

• KLS Martin Group

• A&E Medical Corporation

• Jace Medical, LLC

• Acute Innovations

• Abyrx, Inc.

• Kinamed Incorporated

Europe Sternal Closure Systems Market Report Scope

Europe Sternal Closure Systems Market Segmentation

This report forecasts revenue growth at the regional and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the Europe sternal closure systems market report based on product, procedure, material, and region:

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Closure Devices

    • Sternal Closure Wires

    • Sternal Closure Plates and Screws

    • Sternal Closure Clips

    • Sternal Closure Cables

  • Bone Cement

• Procedure Outlook (Revenue, USD Million, 2018 - 2030)

  • Median Sternotomy

  • Hemisternotomy

  • Bilateral Thoracosternotomy

  • Others

• Material Outlook (Revenue, USD Million, 2018 - 2030)

  • Titanium

  • Polyether Ether Ketone (PEEK)

  • Stainless Steel

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain