Hernia Repair Market | Business Overview, Products and Services, Key Insights, Recent Developments
[151 Pages Report] The Hernia Repair Market is projected to reach USD 4.75 billion, at a CAGR of 3.0% during the forecast period.
Market Segmentation in Detailed:
On the basis of product, the hernia repair market is segmented into mesh and mesh fixators. A mesh is used for reinforcing weak spots in the muscle while repairing the hernia. Mesh fixators are used to fix the mesh in its place to avoid displacement.
On the basis of type, this market is segmented into synthetic and biologic mesh. In 2018, the biologic mesh segment is expected to register the highest growth rate in the hernia mesh market. The increasing number of clinical trials to establish safety and the benefits of biologic meshes coupled with technological advancements to reduce ‘could be’ issues with this mesh are some of the factors triggering the growth of this segment.
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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.
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.
Age contributes significantly to the risk of hernia by retarding the body’s capabilities and natural healing abilities over time. According to a registered study in the UK, the prevalence of hernia was found to increase with age, from 5% in the 25¡V34 age group to:
- 10% in the 35-44 age group
- 18% in the 45-54 age group
- 24% in the 55-64 age group
- 31% in the 65-74 age group
In addition, the incidence of hernia among men aged 75 years and above was found to be 45%. Consequently, the growth in aging population can be expected to boost overall hernia incidence in the coming years.
Geographical growth scenario of Hernia Repair Market:
The global market is segmented into four major regions, namely, North America, Europe, the Asia Pacific, and the Rest of the World (RoW). In 2018, North America is estimated to account for 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, presence of a large pool of hernia patients, and an efficient and favorable healthcare system are supporting the growth of the hernia mesh Market in North America.
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Leading market players and strategies adopted:
The prominent players in the Hernia Repair Market include Covidien ( Part of Medtronic) (Ireland), Ethicon (Part of Johnson & Johnson) (US), B. Braun (Germany), C.R. Bard (Part of Becton Dickinson) (US), W. L. Gore (US), LifeCell (Part of Allergan) (Ireland), Maquet (Part of Getinge) (Sweden), Cook Medical (US), Integra (US), DIPROMED (Italy), FEG (Germany), Cousin Biotech (France), Herniamesh (Italy), Aspide Medical (France), TransEasy Medical (China), and Via Surgical (Israel).
