Hernia Repair Market Size and Growth Rate:
According to the Research Report, the Global Hernia Repair Market Size was valued at USD 176.9 Billion in 2016 and was Expected to Reach USD 198.7 Billion by 2025 with a CAGR of 1.3% during the forecast timespan period 2017-2025.
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Hernia Repair Market Overview:
Hernia is a medical condition in which an organ or adipose tissue emerges through a weak spot where it is normally contained. Hernia repair is a surgical procedure for the treatment of a hernia. This is one of the most common surgeries in the world. Approximately three million hernia procedures are performed worldwide, including approximately 1.2 million hernia repair procedures in the United States alone. Laparoscopic hernia repair surgery and tension-free open repair surgery are two popular methods for hernia repair. These surgeries are performed using fixation devices and surgery based on consumables (mesh).
The growth of the global market of repair devices and consumables for hernias is mainly due to an increase in the prevalence of hernias, especially inguinal hernias. Other factors that drive market growth include the increasing adoption of stress-free repair procedures, technological advances in mesh materials, such as the bio-structure of key players, and an increase in the demand for robotic surgeries.
However, factors such as the high cost of hernia repair surgeries and inconsistent reimbursement policies hamper market growth. On the contrary, the development of new products by key suppliers, such as the organic network and the high market potential of the untapped emerging economies, is expected to offer lucrative growth opportunities for the market.
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Hernia Repair Market Geographical Insights:
The global hernia repair market is divided into four main regions of North America, Europe, Asia-Pacific and the rest of the world. In 2018, it was believed that North America is the largest market for mesh devices for hernias. The large share of North America in this market can be attributed to the high demand and adoption of hernia repair in the United States and Canada. The presence of a large number of patients with hernias and an efficient and profitable medical care system supports the growth of the hernia repair market in North America.
Key players of the Global Hernia Repair Market:
Some of the most prominent players of the global hernia repair market include Covidien (member of Medtronic) (Ireland), Ethicon (member of Johnson & Johnson) (United States), B. Braun (Germany), CR Bard (member of Becton Dickinson), WL Gore (United States), LifeCell (part of Allergan) (Ireland), Maquet (part of Getinge) (Sweden), Cook Medical (United States), Integra (United States), DIPROMED (Italy), FEG (Germany), Cousin Biotech (France), Herniamesh (Italy), Aspide Medical (France), TransEasy Medical (China) and Via Surgical (Israel).
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