Sternal Closure Systems Market Scope
Increasing Investments in Emerging Nations At present, a number of emerging countries across the globe are making massive investments into public healthcare infrastructure as a result of the increasing non-communicable diseases as well as injuries. This is bound to bring about a striking growth in the number of surgical procedures in these regions. As per the data published by the World Bank, China’s per capita healthcare expenditure was estimated at USD 425.6 in 2015, which had accounted for almost 5.3% of the total GDP. On that note, Plan of Health China 2030 states that healthcare spending by 2020 is projected to account for about 6.5% to 7% of its overall GDP.
Leading Companies
some of the companies currently leading the worldwide sternal closure systems market are,
- Kinamed Incorporated
- Zimmer Biomet Holdings
- Depuy Synthes
- A&E Medical
- Orthofix International N.V.
- Abyrx
- Jace Medical
- Acute Innovations
- Jeil Medical Corporation
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Market Segmentation
The market for sternal closure systems is segmented on the basis of product type, procedure, closure material type, and end-user.
As per the product type, the market caters to closure devices and bone cement. Furthermore, closure devices are split into wires, plates and screws, clips, and cables. The growth of the closure devices is expected to be substantial among all the segments, backed by the rising number of complex cardiovascular surgeries coupled with the increasing availability of medical reimbursements.
Taking into account the types of procedure, the market is considered for median sternotomy, bilateral thoracosternotomy, hemisternotomy, and others. Out of these, the median sternotomy segment will account for the largest share of the worldwide sternal closure systems market resulting from the growing number of critical patients afflicted with cardiovascular diseases.
The types of closure materials covered in the report include stainless steel, titanium, and others. The titanium products segment is projected to soar high globally owing to the growing focus on titanium products on account of the associated benefits and economies-of-scale, in addition to the rising number of clinical research studies for the evaluation of the clinical efficacy of titanium-based products during sternal closure, as well as the growth in the commercialization of titanium-based sternal closure systems across advanced countries.
The end users mentioned in the report are hospitals and clinics, research institutes, and others.
Based on region the market is segmented into Americas, Europe, Asia Pacific, and the Middle East and Africa. The American region is segmented into North America and South America. Similarly, Europe is segmented into Western Europe and Eastern Europe.
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