Market Synopsis of the Global Inguinal Hernia Market
Inguinal hernia results when a part of small intestine bulges out through a weak area in the lower abdominal wall. Two types of inguinal hernia are known- direct and indirect inguinal hernia. Direct inguinal hernia occurs in males resulting into the weakening of the abdominal muscles around the inguinal canal. Whereas, indirect inguinal hernia is caused by the defects in the abdominal wall present at the birth. The prevalence of inguinal hernia is found to high in males, which is attributed to stress and increasing age.
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The market for inguinal hernia is expected to show a healthy growth owing to increasing cases of hernia repair and increasing adoption of laparoscopic techniques across the globe. Furthermore, increasing number of hernia repair surgeries also contributes to the progress of the market. Therefore, demand for hernia repair devices is found to be increasing. On the other hand, High cost of the hernia repair devices may act as a restrain for the market growth.
The global inguinal hernia market is expected to grow at a CAGR of 10.8% during the forecast period.
Key Players in the Global Inguinal hernia Market
Some of the key players in this market are Ethicon, Inc. (U.S.), Medtronic (U.S.), C.R. Bard, Inc. (U.S.), Atrium (U.S.), W.L. Gore & Associates Inc. (U.S.), Acelity (U.S.) and B Braun Melsungen AG (Germany).
The global inguinal hernia market is segmented on the basis of type, diagnosis, treatment, and hernia mesh type.
On the basis of types, the market is segmented into direct and indirect hernia.
On the basis of diagnosis, the market is segmented into physical examination and imaging test. Imaging tests is further segmented into abdominal ultrasound, CT scan, and Magnetic Resonance Imaging (MRI).
On the basis of treatment, the market is segmented into open hernia repair, laparoscopy, and others.
On the basis of hernia mesh type, the market is segmented into synthetic mesh, and biologic mesh.
Regional Analysis of the Global Inguinal Hernia Market
America is the largest market for inguinal hernia owing to rising prevalence of inguinal hernia in the U.S. and increasing number of surgical procedures such as groin hernia repair. According to the article published in PLOS, in the U.S., groin hernia repair is commonly performed in both adults and children with inguinal hernias constituting more than 95% of all groin hernia repairs.
Europe is the second largest market owing an increase in the prevalence of inguinal hernia and extensive demand for hernia repair devices. The U.K is expected to be the largest market in Europe. According to the New England Journal of Medicine, more than 90,000 surgical intervention for inguinal hernia were performed in Europe.
In Asia Pacific, the demand for laparoscopic procedures for inguinal hernia is increasing and China is expected to be the largest market in Asia Pacific followed by Japan and India. According to the Asia Pacific hernia society, extrapolated incidence of hernia in India is 1,957,850.
The Middle East & Africa also shows a steady rise in the market owing to extensive use of hernia mesh devices for surgeries in the Middle East. In the Middle East, Iran is expected to be the largest market followed by Saudi Arabia. In Africa, high cost of hernia repair restrained the market growth. In the past, laparoscopy was rarely performed for hernia repair in Africa.
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Detailed Table of Contents:
1. Report Prologue
2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
4. Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
5. Market Factor Analysis
5.1 Porters Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
5.1.2 Bargaining Power Of Buyers
5.1.3 Threat Of New Entrants
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