Sternal Closure Systems Market Size Worth $2.96 Billion by 2025: Grand View Research, Inc.

Sternal Closure Systems Market Size Worth $2.96 Billion by 2025: Grand View Research, Inc.

PR Newswire

SAN FRANCISCO, January 8, 2019

SAN FRANCISCO, January 8, 2019 /PRNewswire/ --

The global sternal closure systems market size is expected to reach USD 2.96 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.4% during the forecast period. The market is driven by growing number of surgeries undertaken to treat complex cardiovascular problems. For instance, according to data published by American Heart Association (AHA), around 520,000 Coronary Artery Bypass Graft (CABG) surgeries were performed in the U.S. in 2014. The report further states that more than 800,000 CABG surgeries are performed worldwide every year.

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Furthermore, the National Health Interview Survey conducted by CDC in 2016 concluded that 28.1 million people in the U.S. were diagnosed with heart related disorders, including valvular heart disease and cardiac arrest. Moreover, increasing research and development activities are paving way for advanced systems such as talon systems and double sternal wires. This, coupled with favorable reimbursement criteria, is bolstering market growth.

Mergers and acquisitions, new product development, and geographical expansion are key strategies adopted by players to stay ahead in the market. For instance, KLS Martin, started its sales operations in the U.K., the Netherlands, Italy, France, Australia, Russia, Dubai, Japan, Malaysia, and Brazil in last couple of years in order to increase its geographical presence. The company is also focusing on Asia Pacific due to presence of large patient pool in the region. In line with the strategy, in June 2016, the company started a manufacturing unit in Chennai, India.

Browse full research report with TOC on "Sternal Closure Systems Market Size, Share & Trends Analysis Report By Product (Closure Devices, Bone Cement), By Material (Stainless Steel, PEEK, Titanium), By Procedure, And Segment Forecasts, 2018 - 2025" at: https://www.grandviewresearch.com/industry-analysis/sternal-closure-systems-market

Further Key Findings From the Report Suggest: 

Browse related reports by Grand View Research: 

Grand View Research has segmented the global sternal closure systems market on the basis of product type, material, procedure, and region: 

Explore the BI enabled intuitive market research database, Grand View Compass, by Grand View Research, Inc.

About Grand View Research 

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


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Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com


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