PUBLISHER: Grand View Research | PRODUCT CODE: 1474883
PUBLISHER: Grand View Research | PRODUCT CODE: 1474883
The global sternal closure systems market size is expected to reach USD 3.85 billion by 2030, expanding at a CAGR of 5.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market is driven by the growing number of surgeries undertaken to treat complex cardiovascular problems. For instance, according to the data published by the Centers for Disease Control and Prevention (CDC), around 30.3 million or 12.1% of the U.S. adults were diagnosed with heart disease in 2018.
The National Health Interview Survey conducted by Centers for Disease Control and Prevention (CDC) in 2016 concluded that 28.1 million people were diagnosed with heart-related disorders, including valvular heart disease and cardiac arrest. Moreover, technological advancements such as Talon systems, double sternal wires, and favorable reimbursement criteria would propel growth in the near future.
Mergers & acquisitions, new product development, and geographical expansion are key sustainability strategies adopted by players in the sternal closure systems market. For instance, in December 2020, Zimmer Biomet Holdings Inc., acquired A&E Medical Corporation to gain access to its sternal closure device portfolio, ensuring long-term growth.