The increasing number of hernia repair procedures, advantages of mesh in hernia repair, and technological advancements are the major factors driving the Hernia Repair Market. In addition, emerging markets are expected to emerge as potential areas of opportunity for players in this market.
What the Market Looks Like?
Predicted to grow at a CAGR of 3.0% during the forecast period, the Global Hernia Repair Market is estimated to reach USD 4.75 Billion by the end of 2023. In 2018, North America is projected to account for the largest market share.
On the basis of product, the Hernia Repair Market is segmented into mesh and mesh fixators. A mesh is used for reinforcing weak spots in the muscle while repairing the hernia. Mesh fixators are used to fix the mesh in its place to avoid displacement. In 2018, the hernia mesh segment is expected to account for the largest share of the market. This large share can be attributed to the higher prices of meshes compared to mesh fixators.
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The hernia mesh fixators market is segmented into sutures, tack applicators, and glue applicators. Among these, sutures are the most common type of mesh fixator, followed by tack. However, due to the higher price of tacks, the tack applicators segment is expected to account for the largest share in the mesh fixators market in 2018.
What Drives the Hernia Repair Market?
The growth of the global market for Hernia Repair is primarily influenced by the following factors:
- Increasing Hernia Prevalence
- Effectiveness of Mesh Repair
- Availability of Reimbursement
- Technological Advancement in Hernia Mesh.
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Geographical growth scenario of Hernia Repair Market:
The global market is segmented into four major regions, namely, North America, Europe, the Asia Pacific, and the Rest of the World (RoW). In 2018, North America is estimated to account for the largest market for hernia mesh devices. The large share of North America in this market can be attributed to the strong demand for and adoption of hernia repair in the US, presence of a large pool of hernia patients, and an efficient and favorable healthcare system are supporting the growth of the Hernia Repair Market in North America.
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