At 3.4% CAGR, North America Pectus Bar Market is Projected to be Worth US$ 29,826.15 Thousand by 2031, says Business Market Insights

According to Business Market Insights' research, the North America pectus bar market was valued at US$ 22,885.12 thousand in 2023 and is expected to reach US$ 29,826.15 thousand by 2031, registering a CAGR of 3.4% from 2023 to 2031. Growing preference for minimally invasive procedures and use of 3D printing for customized pectus bars are among the critical factors attributed to drive the North America pectus bar market growth.

Pectus excavatum, also known as sunken chest or funnel chest, is a result of abnormal growth of rib cartilage due to which the sternum is pulled inward, resulting in depression in the chest. According to Radiopaedia, pectus excavatum occurs in up to 1 in 300-1,000 births and is predominant in males. As per the National Library of Medicine (NLM), in 2023, about 95% of congenital chest wall anomalies are attributed to pectus deformities, and pectus excavatum is most common in them. To surgically repair pectus excavatum, pectus bars are placed in such a way that the sternum is repositioned, giving space for the heart and lungs to function properly. This procedure improves breathing, exercise intolerance, and chest pain in the patient. According to the study "The questionable benefit of pectus excavatum repair on cardiopulmonary function: a prospective study," published on NLM in 2022, since the introduction of minimally invasive techniques for fixing pectus excavatum, there has been an increase in the number of patients opting for surgery for the treatment of pectus excavatum using pectus bars. Thus, the growing awareness about the benefits of pectus bar placement is driving the North America pectus bar market growth.

On the contrary, post surgical complications hamper the growth of North America pectus bar market.

Based on type, the North America pectus bar market is bifurcated into titanium and stainless steel. The titanium segment held 65.0% market share in 2023, amassing US$ 14,878.44 thousand. It is projected to garner US$ 19,802.85 thousand by 2031 to register 3.6% CAGR during 2023-2031.

By end user, the North America pectus bar market is segmented into hospitals, specialty clinics, and others. The hospitals segment held 59.9% share of North America pectus bar market in 2023, amassing US$ 13,718.53 thousand. It is anticipated to garner US$ 18,143.35 thousand by 2031 to expand at 3.6% CAGR during 2023-2031.

By country, the North America pectus bar market is segmented into the US, Canada, and Mexico. Our regional analysis states that the US captured 91.6% share of North America pectus bar market in 2023. It was assessed at US$ 20,953.62 thousand in 2023 and is likely to hit US$ 27,489.73 thousand by 2031, registering a CAGR of 3.5% during 2023-2031.

Key players operating in the North America pectus bar market are KLS Martin Group, Biotech GmbH, Zimmer Biomet Holdings Inc, Ventura Medical Technologies, and MedXpert GmbH, among others.

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