The global sternal closure systems market is projected to reach USD 2.9 billion by 2027 from USD 2.3 billion in 2022, at a CAGR of 5.1% during the forecast period. The sternal closure systems market is driven by technological advancements in sternotomy techniques, and the growing availability of medical reimbursement across major markets.
The top players in this market are DePuy Synthes (US), KLS Martin Group (US), B. Braun SE (US), Zimmer Biomed Holdings, Inc. (US), and Stryker (Germany). These players lead the market because of their extensive product portfolios offering sternal closure systems. They have also invested in organic strategies such as product launches and regulatory approvals and inorganic growth strategies such as partnerships, collaborations, acquisitions, and agreements to maintain their market shares.
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DePuy Synthes (US) held the largest market share of 12–15% in 2021. DePuy Synthes has a strong presence in the US, Germany, and Canada. It seeks to further enhance its geographical presence by strengthening its business operations in emerging markets like Asia Pacific. The company offers 2 sternal closure products (namely, Sternal ZIPFIX & Titanium Sternal Fixation System) for primary or secondary closure/repair of the sternum.
Zimmer Biomet (US) held the second position in the sternal closure systems market, with a share of 8–11% in 2021. The company has a strong sternal closure systems portfolio that includes Sternlock and doublewire sternal closure system. The company focuses on expanding its product portfolio in the market through acquisitions. In 2020, Zimmer Biomet Holdings, Inc. (US) announced the acquisition of A&E Medical Corporation (US) and its complete portfolio of sternal closure devices – including sternal sutures, cable systems, and rigid fixation.
KLS Martin Group (US) held the third largest share of 3–6% of the sternal closure systems market in 2021. The company manufactures and distributes high-quality products manufactured in the US. The company offers a Sternal Talon system consisting of plates and screws, as well as the LSS plating system for sternal closure. The company is focusing on expansion as its growth strategy to enhance its position in the global market. In line with this trend, in 2019, the company constructed its development and production company Karl Leibinger Medizintechnik (KLM) in Mühlheim an der Donau with an area of around 5,300 square meters.
Sternal Closure Systems Market by Product (Closure Devices (Wires, Plate & Screw, Cable, Clips) Bone Cement), Procedure (Median Sternotomy, Hemisternotomy, Bilateral Thoracosternotomy), Material (Stainless Steel, PEEK, Titanum) - Global Forecast to 2027
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