Hernia Repair Devices Market is projected to reach $6,350 million by 2027 | North America dominated the market in 2019
Pune, Maharashtra, India, December 3 2020 (Wiredrelease) Allied Analytics –:According to the report, the global hernia repair devices and consumables industry generated $4.74 billion in 2019, and is projected to garner $6.35 billion by 2027, witnessing a CAGR of 3.6% from 2020 to 2027.
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Driving factors, restrains, and opportunities
Rise in advanced meshes demand, surge in implementation of robotic surgeries, and increase in number of hernia patients drive the global hernia repair devices and consumables market. However, high costs related to repair surgeries of hernia and stringent reimbursement policies restrain the market growth. On the other hand, technological advancements and opportunities in emerging countries offer new opportunities in the coming years.
The demand for hernia repair devices and consumables has significantly dropped during the coronavirus pandemic. Many patients have postponed surgeries due to fear of infection. Moreover, some doctors have also been recommending postponement or conducting surgeries such as hernia repair in extreme conditions only.
Manufacturing and research & development (R&D) activities have been drawn to a close by the manufacturers due to lockdown restrictions by governments. However, some of the factories have started production up to certain extent as restrictions are being lifted off.
The report emphasizes on the various segments of the hernia repair devices and consumables market. The market is segmented into product, surgery type, hernia type, and geography. The report splits the product segment into fixation devices and consumables. Based on surgery type, the market is bifurcated into open tension-free repair surgery and laparoscopic surgery. Based on hernia type, the market is divided into incisional hernia, umbilical, inguinal hernia, and femoral hernia. The geographical analysis of the market covers the regions such as North America, Europe, Asia-Pacific, and LAMEA.
The open tension-free repair surgery segment to maintain its lead position by 2027
Based on surgery type, the open tension-free repair surgery segment contributed to more than four-fifths of the global hernia repair devices and consumables market in 2019, and is estimated to maintain its lead position in terms of revenue by 2027. This is due to surge in implementation of open tension-free repair technique, in which, surgical mesh acts as a bridge for growth of new tissues to consolidate the abdominal wall. However, the laparoscopic surgery segment is projected to witness the fastest CAGR of 4.5% during the forecast period. This is attributed to its benefits such as reduction in post-operative pain, rapid recovery, and short hospital stays.
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Market players grabbing the largest pie
The report provides a comprehensive analysis of key players operating in the global hernia repair devices and consumables market, namely, Allergan Plc., B. Braun Melsungen AG, Baxter International Inc., Becton, Dickinson and Company (C.R. Bard, Inc.), Cook Medical, Inc., HerniameshS.r.l., Johnson & Johnson (Ethicon Inc.), Medtronic Plc., The Cooper Companies, Inc., and W. L. Gore & Associates, Inc.The other players in the value chain (not profiled in the report) include Integra Life Sciences, and Insightra medical.
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