The global hernia repair devices and consumables market was valued at $4,742 million in 2019, and is projected to reach $6,350 million by 2027, at a CAGR of 3.6% from 2020 to 2027. There is an increase in the demand for hernia repair devices and consumables due to the high acceptance of tension-free hernia repair procedures, surge in demand for advanced mesh, increase in adoption of robotic surgeries, and rise in prevalence of hernia. However, high cost of hernia repair surgeries and inconsistent reimbursement policies hamper the market growth. Conversely, development of novel products by key vendors such as biological mesh and high market potential in untapped emerging economies are expected to provide lucrative growth opportunities for the market growth.
Hernia is a medical condition where an organ or fatty tissue bulges out through a weak spot. Hernia repair is a surgical operation for the treatment of hernia and is one of the most commonly performed surgical procedures worldwide. Approximately three million hernia procedures are performed worldwide, among them about 1.2 million hernia repair procedures are performed alone in the U.S. every year. Laparoscopic hernia repair surgery and open tension-free repair surgery are two popular methods for hernia repair. These surgeries are performed with the help of fixation devices and consumables (mesh)-based surgery.
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The global hernia repair devices and consumables market is segmented on the basis of product, surgery type, hernia type, and region. By product, it is bifurcated into fixation devices and consumables. Fixation devices are further segmented into tack and other fixation devices, where the tack segment is further sub-segmented into absorbable tack and non-absorbable tack. The consumables segment comprises mesh, which is further segmented into synthetic material mesh and biological material mesh. Synthetic material mesh is of two types, namely, absorbable mesh and non-absorbable mesh. On the basis of surgery type, it is categorized into open tension-free repair surgery and laparoscopic surgery. By hernia type, it is classified into incisional hernia, umbilical hernia, inguinal hernia, femoral hernia, and other hernia. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries. According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.
Due to advancements spurred by AI/ML, the impact of digital health technology will grow. Data from the Department for Promotion of Industry and Internal Trade show that FDI in the medicines and medication sector totaled US$19.12 billion (DPIIT).
KEY BENEFITS FOR STAKEHOLDERS
? This report provides a detailed quantitative analysis of the current market trends and future estimations from 2020 to 2027, which assists to identify the prevailing market opportunities.
? An in-depth analysis of various regions is anticipated to provide a detailed understanding of the current trends to enable stakeholders to formulate region-specific plans.
? A comprehensive analysis of the factors that drive and restrain the growth of the global cholera vaccine market is provided.
? An extensive analysis of various regions provides insights that allow companies to strategically plan their business moves.
KEY MARKET PLAYERS
– Allergan Plc.
– B. Braun Melsungen AG
– Baxter International Inc.
– Becton, Dickinson and Company (C.R. Bard, Inc.)
– Cook Medical, Inc.
– Herniamesh S.r.l.
– Johnson & Johnson (Ethicon Inc.)
– Medtronic Plc.
– The Cooper Companies, Inc.
– W. L. Gore & Associates, Inc.
– Integra LifeSciences
– Insightra medical
KEY MARKET SEGMENTS
– By Product
? Fixation Devices
– Tack
? Absorbable Tack
? Non-absorbable Tack
– Other Fixation Devices
? Consumables
– Mesh
? Synthetic Material Mesh
– Absorbable Mesh
– Non-absorbable Mesh
? Biological Material Mesh
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– By Surgery Type
? Open Tension-free Repair Surgery
? Laparoscopic Surgery
– By Hernia Type
? Incisional Hernia
? Umbilical Hernia
? Inguinal Hernia
? Femoral Hernia
? Other Hernia
– By Region
? North America
– U.S.
– Canada
– Mexico
? Europe
– Germany
– France
– UK
– Italy
– Spain
– Rest of Europe
? Asia-Pacific
– Japan
– China
– India
– Rest of Asia-Pacific
? LAMEA
– Brazil
– South Africa
– Saudi Arabia
– Rest of LAMEA
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
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