Global Hernia Repair Market is Estimated to Value Over USD 4.9 Billion by 2026 End

  • 30 Sep 2019

Global Hernia Repair Market is estimated to value over USD 4.9 billion by 2026 end and register a CAGR of over 3.5% during the forecast period 2019 to 2026. 

 

The market growth is primarily steered by the rising number of hernia incidences, inguinal hernia in particular. Other factors stimulating the global hernia repair market growth are increasing adoption of repair processes that are tension-free, advancements in technology in mesh materials like biological mesh by major market players and soaring demand for surgical procedures assisted by robots.

 

Although, factors like high hernia repair surgery costs, Inconsistent repair and reimbursement policies can impede the market growth. On the contrary, the development of advanced products like biological mesh initiated by key players and untapped global hernia repair market potential in emerging nations are predicted to offer profitable opportunities for market growth.

 

The market is bifurcated into hernia type, product and region. The market is bifurcated based on the type of product as consumables and fixation devices. Fixation devices are classified as tack and glue applicators. The consumables segment held the largest global hernia repair market share in 2017 and is predicted to hold this share over the forecast period. Conversely, the fixation devices are projected to proliferate with a substantial CAGR over the forecast period.

 

The global hernia repair market is bifurcated by surgery type as laparoscopic surgeries and open tension-free repair. The open tension-free repair surgeries dominated the market in 2017, while laparoscopic surgeries are projected to record the highest CAGR rate over the forecast period.

 

North America subjugated the market owing to improvements in health care infrastructure and rising prevalence of cases related to hernia disorders. Initiatives by the government and increasing awareness amongst the patient population are some important factors steering the market proliferation in the region. The Asia-Pacific and the European regions are predicted to showcase profitable growth in upcoming years. China and India are the fastest escalating market spaces in the Asia-Pacific region due to the ever-increasing patient population, increasing government funding in healthcare facilities and hefty investments by key market players in these countries.

 

Key market players included in the global hernia repair industry are Aspide Medical, B. Braun Melsungen AG, Cook Medical, Cousin Biotech, C.R Bard, Covidien, Dipromed, Ethicon, Feg Textilechnik MBH, Hernianesh, Intregra Lifesciences, Lifecell, Maquet Holding.

 

Global Hernia Repair Market Segmentation:

By Product

  • Consumables

- Mesh

~ Synthetic Mesh

~ Biologic Mesh

  • Fixation Devices

-Mesh Fixators

~ Sutures

~ Tack Applicators

~ Glue Applicators

By Hernia Type

  • Inguinal Hernia
  • Incisional/Ventral Hernia
  • Umbilical Hernia
  • Femoral Hernia

By Region

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

 

FutureWise Key Takeaways:

  • Growth prospects
  • SWOT analysis
  • Key trends
  • Key data-points affecting market growth

 

Objectives of the Study:

  • To provide with an exhaustive analysis on the global hernia repair market by product, by hernia type and by region
  • To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
  • To evaluate and forecast micro-markets and the overall market
  • To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific and the rest of the world
  • To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
  • Profiling of companies to evaluate their market shares, strategies, financials and core competencies

 

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