The new report by Expert Market Research titled, ‘Global Hernia Repair Devices Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global hernia repair devices market, assessing the market based on its segments like products, procedures, surgery types, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Forecast CAGR (2022-2027): 7%
The high incidence of hernia is creating the demand for efficient hernia repair, which is expected to boost the global market growth over the forecast period. The significant factors contributing to the growth of the hernia repair devices market include the high adoption rate of tension-free hernia repair surgical procedures, an increase in demand for advanced mesh, and the rising adoption of robotic surgeries. The increased adoption rate of laparoscopic hernia surgeries lead to the increased usage of advanced fixation devices, thereby boosting the market growth. Increasing medical tourism, affordable treatment, and rising healthcare reimbursements are some of the factors driving the market globally. Moreover, due to a huge patient pool, demand for hernia repair devices is expanding in Asian countries, particularly Japan and China. With a large number of undiagnosed and untreated cases in the region, the market is likely to rise rapidly.
Industry Definition and Major Segments
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 groin (inguinal hernia), or the surgical incision site (post-surgery hernia). Hernias can be treated with two methods: watchful waiting and surgical operations.
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By product, the market is segmented into:
- Polymeric and Prosthetic Mesh
- Endoscopy Instruments
- Surgical Instruments
- Biological Materials
By procedure, the market is classified into:
- Open Surgery
- Tension-Free Repair
- Laparoscopic Surgery
By surgery type, the market is divided into:
- Inguinal Hernia
- Umbilical Hernia
- Incisional Hernia
- Femoral Hernia
On the basis of region, the market is segmented into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Key factors contributing to market growth include favourable reimbursement policies and technological advancements related to repairing devices. Technological advancements in hernia repair devices have rapidly increased in recent years. Advancements, such as articulating fixation devices and self-fixating (gripping) meshes, are developed to overcome the problems occurring during laparoscopic processes. Such devices offer surgeons better access to weak spots within the abdominal wall and enable them to securely place the mesh at the desired body site, which is likely to boost the market growth. Sedentary lifestyles, an increasing elderly population, and a high recurrence rate of hernia are some of the factors driving the market growth in North America. Moreover, rising healthcare expenditure and faster FDA approvals are adding to the market growth in the region.
Key Market Players
The major players in the market are Medtronic plc, Johnson & Johnson Services, Inc., Becton, Dickinson and Company, Atrium Insight Inc., W. L. Gore and Associates, Inc., B. Braun Melsungen AG, Baxter International, Inc., and Cook Group Incorporated, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
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