The Global Hernia Repair Market is projected to reach USD 4.75 Billion by 2023. The increasing adoption of mesh in hernia repair surgeries, rising geriatric population, new product developments, and efficient reimbursement system in developed countries are the major factors driving the growth of the hernia repair market during the forecast period.
Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=203245450
Market Dynamics
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.
However, the high cost of meshes, long waiting times, and the development of non-mesh repair approaches are restraining the growth of this market. In addition, increasing pricing pressure on market players and the need for skilled personnel to conduct laparoscopic surgery are the key challenges faced in this industry.
Driver: Increasing hernia prevalence
The growing prevalence of hernia is the main driving force for the growth of the hernia mesh repair market. This is mainly attributed to the overall increase in population, specifically geriatric and obese population, and improvements in healthcare systems that have enabled the early detection and treatment of hernia.
Restraint: High Cost of mesh repair and availability of less-expensive approaches
While mesh repair is relatively common in developed countries, meshes are still too expensive to be used on a regular basis in developing markets. For example, in African countries, only 8-10% hernias are repaired with meshes mainly due to the higher cost of mesh repair (Source: ‘Mesh versus non-mesh for inguinal and femoral hernia repair (Protocol),’ published in The Cochrane Laboratory, 2015). Typically, the first-generation mesh is commonly used. On the whole, hernia mesh repair with advanced products is unaffordable in countries with a per capita government healthcare expenditure below USD 50, whereas the price of the mesh is USD 100–3,000 (and above).
Request Free Sample Pages:
https://www.marketsandmarkets.com/requestsampleNew.asp?id=203245450
This report categorizes the hernia repair market into the following segments and subsegments:
By Product
- Hernia Mesh
- Synthetic Mesh
- Biologic Mesh
- Mesh Fixator
- Sutures
- Tack Applicators
- Glue Applicators
By Surgery Type
- Inguinal Hernia Repair
- Incisional/Ventral Hernia Repair
- Umbilical Hernia Repair
- Femoral Hernia Repair
By Procedure Type
- Laparoscopic Procedure
- Open/conventional Procedure
North America dominated the market in 2017
Geographically, the global hernia repair market is segmented into four major regions, namely, North America, Europe, the Asia Pacific, and the Rest of the World (RoW). In 2017, North America was 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. The adoption of hernia mesh devices, particularly biologic mesh devices, is the highest in the US. As these devices are priced at a premium, their high demand is resulting in large revenue generation for companies operating in the US. In addition, the majority of prominent market players operate in the North American market owing to which the access to new and advanced hernia repair is high in this regional market. Also, other factors such as the 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.
Key Players:
Covidien Plc (Medtronic Plc) (Ireland), Ethicon (Johnson & Johnson Services, Inc.) (US), B. Braun Melsungen AG (Germany), C.R. Bard (Becton, Dickinson and Company) (US), W. L. Gore & Associates (US), LifeCell Corporation (Allergan) (Ireland), Maquet (Getinge AB) (Sweden), Cook Medical (US), and Integra Lifesciences (US). Other players include DIPROMED (Italy), FEG Textiltechnik mbH (Germany), Cousin Biotech (France), Herniamesh (Italy), Aspide Medical (France), TransEasy Medical (China), and Via Surgical (Israel).
Get 10% Free Customization on this Report:
https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=203245450
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Email: [email protected]
https://www.marketsandmarkets.com/PressReleases/hernia-mesh-devices.asp