Europe Sternal Closure Systems Market

Europe Sternal Closure Systems Market Size (2023 to 2028)

The sternal closure systems market size in Europe is expected to grow from USD 0.78 billion in 2023 to USD 1 billion by 2028, growing at a CAGR of 5.23% from 2023 to 2028.

The rising prevalence of cardiovascular diseases in the European region majorly drives the growth of the Europe sternal closure systems market. Factors such as alcohol consumption, smoking, obesity, diabetes, and unhealthy habits contribute to the rise in heart-related issues. With approximately 6 million new cases of cardiovascular diseases reported annually in the EU, there is a growing demand for open-heart surgeries, pacemaker placement, and heart valve repairs. Sternal closure systems play a crucial role in these procedures, aiding in the fixation of fractures of the front chest wall and facilitating sternum and sternal reconstructive surgeries. Advancements in sternal closure systems further enhance the efficiency of surgeries. The sternotomy procedure, also known as median sternotomy, provides access to the heart, lungs, and surrounding structures. Sternal closure devices are employed to close the sternum following this surgery, driving demand in the market. Cardiac surgeons primarily utilize these devices to access the heart and aortic arch during surgical interventions.

The increasing geriatric population and the development of various types of sternal closure systems further contribute to the growth of the Europe sternal closure systems market. With a rising number of surgical procedures being performed on the older population, there is a focus on developing sternal closure systems with advanced technologies to improve patient quality of life. Manufacturers also offer customized systems made from different materials based on the type of surgery. Additionally, factors such as increasing research and development efforts, investment by healthcare organizations, and product approvals contribute to driving the market forward.

The growing number of open-heart surgeries and implantation of pacemakers and heart valves, rising emphasis on improving the quality of life for patients through the development of advanced sternal closure systems and the customization of sternal closure systems based on surgical requirements and patient-specific factors propel the European market growth. The growing research and development activities to innovate and improve sternal closure systems, increasing investments by healthcare organizations in advanced surgical technologies and equipment, the expansion of healthcare infrastructure and facilities supporting cardiovascular surgeries, favorable regulatory environment and increasing product approvals for sternal closure systems further fuel the growth rate of the European market.

Stringent regulatory requirements and lengthy approval processes for new sternal closure systems, high cost associated with sternal closure systems that limits the affordability for certain healthcare facilities and patients and lack of awareness and limited knowledge about the benefits and availability of advanced sternal closure systems hamper the growth of the European sternal closure systems market. Limited reimbursement policies and coverage for sternal closure systems by healthcare insurance providers, challenges in adoption and integration of new technologies and systems into existing surgical practices and lack of skilled healthcare professionals trained in using advanced sternal closure systems further hinder the regional market growth. Potential complications and risksassociated with sternal closure procedures, leading to hesitation in adoption and limited availability of specialized healthcare facilities equipped with advanced sternal closure systems inhibit the market’s growth rate.

This research report on the Europe sternal closure systems market has been segmented and sub-segmented into the following categories.

By Product:

• Closure Devices
  • Wires
  • Plates & Screws
  • Cables
  • Clips
• Bone Cement

By Procedure:

• Median Sternotomy
• Hemisternotomy
• Bilateral Thoracosternotomy

By Material:

• Titanium
• Stainless Steel
• Polyether Ether Ketone (PEEK)

By Country:

• UK
• France
• Spain
• Germany
• Italy
• Russia
• Sweden
• Denmark
• Switzerland
• Netherlands
• Turkey
• Czech Republic
• Rest of Europe

The Europe region accounted for a substantial share of the global sternal closure systems market in 2022 and is expected to grow at a healthy CAGR during the forecast period. Germany is anticipated to hold the leading share of the European market during the forecast period due to the widespread adoption of advanced surgical systems, improved infrastructure and increasing healthcare spending. The growing initiatives from the German government have facilitated the approval of sternal closure systems for cardiac and related surgeries, while healthcare organizations have conducted awareness campaigns to educate the population about the benefits of these systems. The robust manufacturing facilities in Germany contribute significantly to market growth, with manufacturers offering cost-effective sternal closure devices to drive surgical procedure adoption. The UK is predicted to witness a healthy CAGR during the forecast period due to the growing patient population, increasing number of mergers and partnerships, extensive clinical trials and the presence of specialized hospitals utilizing sternal closure systems following heart surgery.

KEY MARKET PLAYERS:

Companies that play a leading role in the Europe sternal closure systems market are J.