What is the growth rate of the Global Hernia Repair Devices Market?
The global hernia repair devices market is expected to generate revenue of around USD 6.2 billion by end of 2028, growing at a CAGR of around 4.6% between 2022 and 2028. The global hernia repair devices market is mainly driven by the growing prevalence of hernia cases all across the globe.
The rising prevalence of patients suffering from a hernia, the rising number of surgeries for hernia treatment, and the entry of significant players, among others, are projected to drive the Hernia Repair Devices market expansion throughout the forecasting period, according to Zion Market Research.
Global Hernia Repair Devices Market Overview
A hernia is a condition in which the inner layers of the abdominal muscles weaken and the stomach lining bulges out into a tiny sac. It can affect the navel (umbilical hernia), the groyne (inguinal hernia), or the surgical incision site (post-surgery hernia). Hernias can be treated with two methods: watchful waiting and surgical operations. There are two types of surgical procedures: open tension-free repair surgery and laparoscopy. However, around 20 million inguinal hernia repair procedures are conducted worldwide each year. Around 150 thousand incisional hernia repair procedures are performed in the United States each year. With the help of a fixation device, these surgeries are carried out utilizing mesh comprised of synthetic or organic material.
The high adoption rate of tension-free hernia repair surgical methods, increased demand for sophisticated mesh, rising use of robotic operations, and the high prevalence rate of hernia around the world are the primary factors driving the growth of the hernia repair devices and consumables market. However, in the near future, the high cost of hernia repair treatments and unfavorable reimbursement rules will limit market expansion. On the flip side, the market is likely to benefit from the development of novel hernia products, such as biological mesh, as well as strong market potential in developing nations.
Key global participants in the Hernia Repair Devices Market include:
Cook Medical Inc., Cooper Surgicals Inc., Baxter International Inc., B. Braun Melsungen AG, LifeCell Corporation, W. L. Gore & Associates Inc., C.R. Bard, Herniamesh S. R. L, Ethicon Inc., Medtronic Plc, Atrium Medical Corporation, Purple Surgical International Ltd., Integra LifeSciences, Betatech Medikal, Insightra Medical Inc.
The company profile also includes a company overview, revenue information, and product overview. This section helps to understand businesses operating in the industry to understand the strategies of the key players and the factors that are helping them excel in the industry. The competitive scenario is also helpful for the new entrants in the business to know their competitors as well as their business plans.
Insights into the Hernia Repair Devices Market
North America, Europe, Asia-Pacific, and the Rest of the World are the regions investigated in the Global Hernia Repair Devices market. North America currently leads the global hernia repair devices market in terms of revenue share, and this trend is likely to continue during the forecast period. This dominance is due to rising demand for Hernia Repair Devices due to the high prevalence of hernia in the United States, rising adoption of hernia repair devices, especially biologic mesh devices, which are widely used in the United States, and the presence of key Hernia Repair Devices market players, which means access to new and advanced hernia repair devices is also at a peak in the region, among other factors in the region.
In addition, the rapid and well-established healthcare services and infrastructure contribute to the regional Hernia Repair Devices market’s growth. Furthermore, the availability of a huge pool of hernia patients in the region, as well as favorable reimbursement programs, offer the Hernia Repair Devices market tremendous growth potential.
Covid-19 Impact –
Due to the abrupt installation of stringent lockdowns across the globe during the pandemic, COVID-19 is projected to have a detrimental influence on industry growth. Furthermore, the industry was advised to concentrate solely on emergency and urgent appointments. Due to these circumstances, many patients’ visits were cut short, and hernia surgery was postponed. For example, according to the article ‘Elective hernia surgery cancellation due to COVID-19 pandemic’ published in 2020, the lowest caseload was recorded in April 2020, when the number of hernia repairs was almost 25% of those performed from February to June 2019. As a result, the COVID-19 outbreak slowed the market’s expansion.
The incidence of hernia cases, particularly inguinal hernia, is driving the growth of the global hernia repair devices market. Other factors driving market expansion include an increase in the use of tension-free repair methods, technological advancements in mesh materials such as biological mesh by key companies, and an increase in demand for robotic operations.
Recent industry events include:
Cook Biotech and Progressive Medical established a new sales cooperation in April 2019. According to the agreement, Progressive Medical’s salesforce will oversee and support sales of Cook Biotech’s Biodesign Hernia Graft. This strategic partnership aided the organization in increasing product sales and expanding its consumer base.
Our Free Sample Report Consists of the following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
- About 227+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on Request
- Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2022
- Includes Tables and figures have been updated
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Zion Market research methodology
Methodology
The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts’ opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.
Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of the global hernia repair devices market across the world has been calculated through primary and secondary research.
For this study, Zion Market Research has conducted all-encompassing primary research with key industry participants to collect the first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and understanding of key trends in the global hernia repair devices market. Primary research makes up the major source of data collection and validation.
Market Dynamics
- SWOT
- Porter’s Five Forces
- Key Indicators for Price and Demand
This report segments the global hernia repair devices market as follows:
Global Hernia Repair Devices Market: By Mesh
- Synthetic
- Biological
Global Hernia Repair Devices Market: By Fixation
- Tack
- Suture
- Staple
- Glue
Global Hernia Repair Devices Market: By Approach
- Laparoscopic
- Open
Global Hernia Repair Devices Market: By Procedure
- Femoral
- Umbilical
- Incisional/Ventral
- Inguinal
- Others
Global Hernia Repair Devices Market: By Care Setting
- In-Patient
- Out-Patient
Regional Assessment
Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The ZMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
- Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
The reports offer answers to the top 7 questions that revolve around the growth of the market
- What are the diverse growth parameters influencing the market?
- Which regions will contribute largely to the growth of the market
- What are the recent innovations and technological advancements in the market?
- What are the emerging trends across the market?
- How has COVID-19 affected the market?
- What will be the post-pandemic scenario of the market?
- What are the major threats that will dent the growth prospects of the market?
