Hernia Repair Devices Market projected to Grow at A CAGR of 6.5% and Reach USD 7.4 Billion by 2032
As per a recent report published by FMI, the hernia repair devices market is expected to record an average CAGR of 6.5% during the forecast period.
Hernia Repair Devices Market CAGR (2022-2032)
Hernia Repair Devices Market (2029)
US$ 6.52 billion
Hernia Repair Devices Market Attraction
High rate of adoption of tension-free hernia repair surgical operations, as well as a rising demands for advanced mesh
Hernias can be treated with two methods: watchful waiting and surgical operations. There are two types of surgical procedures: open tension-free repair surgery and laparoscopic hernia repair.
Over the projected period, the global hernia repair devices market is predicted to rise due to the rising prevalence of hernias.
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Aspects like the increasing geriatric population, the obesity pandemic, and rapidly shifting lifestyle choices together contribute to the growth in hernia prevalence.
Besides the growing preference for less invasive hernia repair techniques, tension-free hernia repair procedures have become more popular than traditional incisional repair procedures.
The rising acceptance of tension-free hernia repair treatments is due to the fact that they enable a faster recovery with less post-operative discomfort than traditional methods.
Moreover, the high cost of research and development for the hernia repair devices market is projected to impede the market growth. For introducing hernia repair devices, the company has to follow a number of regulatory and clinical requirements.
Owing to the lengthy development and approval process, medical device makers are forced to maintain the high initial cost of hernia repair equipment. Due to the high cost of items, there is a lack of suitable access to various technical advancements, which slows acceptance.
The in-hospital transition evaluation from surgeons and nurses to administrators and accountants has hampered the adoption of increasingly effective but more expensive medical gadgets and technology.
As a result, before deploying any new surgical equipment, implants, or procedures as a cost-cutting tactic, most hospitals conduct a cost-benefit study. As a result, the increased cost of technologically sophisticated surgical items in such areas makes them difficult to implement.
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- Over the projected period, rising awareness regarding hernias is expected to propel the sales of hernia repair devices. For example, in April 2019, SSM Health Cardinal Glennon Children’s Hospital encouraged awareness among pregnant women by organizing a ‘CDH Care’ Program, which provided information on congenital diaphragmatic hernia (CDH) that would aid them during prenatal diagnosis. April is congenital diaphragmatic hernia (CDH) awareness month at SSM Health Cardinal Glennon Children’s Hospital.
- Increasing demand for the hernia repair devices market is predicted to profit market players from a focus on regions where composite mesh use is increasing.
- The key players in the hernia repair devices market are focusing on releasing new items to diversify their product range. For example, ACell, Inc. and Southmedic announced the Gentrix Surgical Matrix series of devices in September 2019, which contains ACell’s MatriStem UBM (Urinary Bladder Matrix) technology. Hernia and abdominal wall repair are treated with the Gentrix Surgical Matrix range of devices.
- The substantial demand for and acceptance of hernia repair in the United States accounts for North America’s large share of this market. In the United States, the adoption of the hernia repair devices market, particularly biologic mesh devices, is the highest.
- Hernia repair mesh systems manufacturers will profit from the introduction of innovative and technologically sophisticated hernia repair devices.
- The market for hernia repair devices is growing as composite mesh methods, which are more expensive, become more popular. The United States, Canada, Germany, France, and other major countries are seeing greater usage of composite meshes.
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In this report, the major players in the hernia repair devices market are Covidien Plc (Medtronic Plc) (Ireland), Ethicon (Johnson & Johnson Services, Inc.) (U.S.), B. Braun Melsungen AG (Germany), C.R. Bard (Becton, Dickinson and Company) (U.S.), W. L. Gore & Associates (U.S.), LifeCell Corporation (Allergan) (Ireland), Maque (U.S.). DIPROMED (Italy), FEG Textiltechnik mbH (Germany), Cousin Biotech (France), Herniamesh (Italy), Aspide Medical (France), TransEasy Medical (China), and Via Surgical are some of the other companies in the market (Israel).
Continuous product revisions, followed by technology breakthroughs, and rising demand for less invasive methods, are factors that contribute to the expansion of total hernia repair operations.
However, the high cost of goods and procedures, as well as the uncertainty surrounding reimbursement rules, may restrict the market’s growth prospects.
- GORE® SYNECOR Intraperitoneal Biomaterial was released in February 2021 by W. L. Gore & Associates in Europe, the Middle East, and South Africa to fulfil unmet requirements in difficult hernia repair.
- Surgical Innovation Associates’ flagship absorbable mesh, DuraSorb®, gained CE Mark in September 2020 for reconstructive and cosmetic applications, including abdominal hernia prevention, breast tissue support, and prosthetic breast support.
- W. L. Gore & Associates’ GORE® SYNECOR, a tri-layer hybrid material developed for ease of use during laparoscopic repair devices, robotic, and open surgical operations, obtained a C.E. mark in June 2020.
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- Hernia Mesh
- Fixation Devices
- Glue Applicators
- Open Surgery
- Laparoscopic Surgery
- Robotic Surgery
By Hernia Type:
- Inguinal Hernia
- Ventral Hernia
- Umbilical Hernia
- Incisional Hernia
- Epigastric Hernia
- Femoral Hernia
By End Use:
- Ambulatory Surgical Centers
Key Questions Answered in the Report
- How Large is the Hernia Repair Devices Market?
- What are the Different Types of Hernia Repair Devices?
- Why is the Demand for Hernia Repair Devices Growing in Hospitals?
- What is the Size of the Hernia Repair Devices Market in the U.S.?
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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