The total value of the sternal closure systems market was USD 2,212.3 million in 2022, which will reach USD 3,323.4 million by 2030, at a growth rate of 5.2% in the years to come.

The product segment is divided into bone cement and closure devices, of which the latter will dominate the industry; with 60% share, in the recent past.

The key factors responsible for the dominance include the initiation of new items and the rise in the per capita spending on surgery in both developing and developed nations.

As opposed to bone cement, these devices have witnessed fewer problems after surgery, along with infections. Moreover, patients recover quicker with those devices. Furthermore, this category is powered by the efforts made by the mavens for introducing new methods and products for closure of the sternum.

Media sternotomy dominated the industry with respect to procedure segment, with around 55% share. For easily reaching the heart, lungs, and nearby structures throughout coronary artery bypass surgery and heart valve replacement surgery, this process is the regularly performed osteotomy globally.

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This is due to the fact that it reduces the probabilities of problems, including hardware complications, osseous issues, including wire rotation or migration; and post-operative contaminations. The incision similarly offers access to both the pleural spaces, making it helpful for numerous thoracic procedures, such as the treatment of esophagectomy and retrosternal goiters.

The requirement for them will rise due to the susceptibility of elderly population to chronic heart problems. The global elderly population doubled , with an increase of 2% in population aged 65 years or above between 2016 and 2021.

As per a report by PS Intelligence, sternal closure systems market in North America dominated the industry with about 45% in the past. This trend will continue in the future. The rise in the efforts of the major businesses for enhancing their products and promise a high surgical quality will power the requirement for these solutions.

Europe will experience a steady growth in the years to come due to the notable elderly population. As per a study, individuals aged 65 or above comprised over one-fifth of the population of the European Union.

Germany is booming in Europe. This has a lot to do to the fact that the nation's healthcare budget has increased, it is applying cutting-edge technologies, the government is becoming aware of the requirement for early diagnosis and effective treatment of the diseases, advantageous reimbursement strategies are offered, and healthcare professionals are rapidly accepting advanced technologies for ensuring better surgical results.

It is because of the rise in the number of cardiothoracic surgeries, the demand for sternal closure systems will rise significantly in the future.