According to the new market research report “Hernia Repair Market by Product (Mesh (Synthetic, Biologic), Mesh Fixation (Suture, Tack and Glue Applicator)), Surgery Type (Inguinal, Incisional/Ventral, Umbilical, Femoral), and Geography (America, Europe, Asia Pacific) – Global Forecast” published by MarketsandMarkets™.
Revenue Growth Opportunities and Growth Drivers?
The Hernia Repair Market is projected to reach USD 4.75 billion, at a CAGR of 3.0% during the forecast period.
Growth Boosting Factors:
- Increasing Hernia Prevalence
- Effectiveness of Mesh Repair
- Availability of Reimbursement
- Technological Advancement in Hernia Mesh Repair Market
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Market Segmentation in Depth:
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. In 2018, the hernia mesh fixators segment is expected to grow at the highest CAGR during the forecast period. This significant growth of the segment is attributed to the rising adoption of surgical glue as mesh fixators.
Based on surgery, the hernia mesh market is segmented into inguinal hernia, incisional/ventral hernia, femoral hernia, and umbilical hernia. Of these, the inguinal hernia segment is expected to account for the largest market share in 2018. The large share of this segment is attributed to the high number of inguinal hernia repair surgeries performed worldwide every year.
Recent Developments in Industry:
- In 2017, BD acquired C. R. Bard. With this acquisition, BD entered the hernia repair business. The acquisition is expected to help C. R. Bard to increase its geographic presence in terms of both—sales and operations and maintain its market position.
- In 2017, Allergan acquired LifeCell Corporation. This acquisition expanded its medical aesthetic products portfolio by the addition of ALLODERM and STRATTICE.
- In June 2017, W. L. Gore GORE launched SYNECOR Preperitoneal Biomaterial. The newly launched product helped the company to broaden its product offerings in the hernia market
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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 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.
The major players in the hernia repair market profiled in this report are 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).