Hernia Repair Devices Market to Reach US$ 8,568.8 Mn by 2031, driven by the increasing incidences of hernia and the presence of key industry participants: Global Insight Services
New York, October 2022: According to a new research study by Global Insight Services (GIS), the global Hernia Repair Devices Market is expected to grow rapidly over the next 10 years to reach a value of more than the US $ 8,568.8 Million by 2031.
A hernia is a protrusion of an organ or a group of organs. It occurs when an organ or any other bodily component protrudes beyond the wall of tissue or muscle that surrounds the organs and becomes visible. The majority of hernias are not serious, and they may be repaired surgically to avoid additional difficulties. Hernia Repair Devices are comprised of the mesh and fixators used in the treatment of hernias. These devices, particularly the mesh, help injured tissue around hernias repair while they are in place. The mesh is placed over the region that is around the Hernia, and it is then secured in place with stitches, glue, or staples. One of the primary reasons for employing Hernia Repair Devices is to reduce the dangers associated with hernia recurrence or reappearance. This is important since there is a significant likelihood of hernia recurrence or reappearance after a repair procedure is performed.
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Hernia Repair Devices Market: Key Trends and Drivers
Growing awareness pertaining to hernia is expected to accelerate the market growth. For instance, in April 2019, SSM Health Cardinal Glennon Children’s Hospital raised awareness among pregnant women by spreading information about congenital diaphragmatic hernia (CDH) that would help them during prenatal diagnosis, by conducting a ‘CDH Care’ Program. SSM Health Cardinal Glennon Children’s Hospital celebrates April as a congenital diaphragmatic hernia (CDH) awareness month.
Hernia Repair Devices Market: Restraints & Challenges
Strict regulations on product approvals are expected to restrain growth of the global hernia repair devices and consumables market during the forecast period. Furthermore, high cost associated with R&D of hernia repair devices is expected to hinder the global hernia repair devices and consumables market growth over the forecast period.
Hernia Repair Devices Market Report Findings
The hernia fixation devices segment is likely to hold a dominant Hernia Repair Devices Market share and grow at a substantial CAGR during the forecast period.
Based on the product, the hernia repair devices industry is bifurcated into hernia mesh, and fixation devices. The hernia fixation devices segment is expected to expand at the fastest CAGR in terms of revenue during the forecast period. The segment is segregated into sutures, tack applicators, and glue applicators. Tack applicators dominated the market in 2020 owing to the high cost of the device and the easy availability of products. Sutures accounted for a considerable market share in 2020 owing to the high usage in various surgical applications. The glue applicators segment is expected to expand at the fastest rate during the forecast period owing to the advantages, such as fewer post operative complications.
The laparoscopic surgery segment is anticipated to hold a majority of the Hernia Repair Devices Market size throughout the study period.
By procedure, the industry is divided into open surgery, laparoscopic surgery, and robotic surgery. Laparoscopic surgery is expected to register the fastest growth rate in terms of revenue over the forecast period as it is widely accepted as a hernia treatment option. These minimally invasive surgeries are recommended owing to factors such as shorter hospital stays, faster recovery, fewer cuts, and reduced infection rate
The incisional hernia segment is anticipated to hold a majority of the Hernia Repair Devices Market size throughout the study period.
Based on hernia type, the hernia repair devices industry is categorized Inguinal Hernia, Ventral Hernia, Femoral Hernia, and Others. Of these, The incisional hernia segment is expected to expand at the fastest CAGR in terms of revenue during the forecast period. An incisional hernia is caused due to a previously made abdominal wall incision or due to incompletely healed surgical wounds. This surgery is the second most performed surgery after inguinal surgery. For instance, as per an article by Medscape in 2015, around 100,000 to 150,000 incisional hernia surgeries are performed annually in the U.S., accounting for about 30.0% of the total laparotomies in the U.S. Furthermore, 50.0% of incisional hernias occur within 2 years after surgery, while 74.0% of incisional hernias occur within 3 years, thus creating the demand for hernia repair devices
The hospitals segment is anticipated to hold a majority of the Hernia Repair Devices Market size throughout the study period.
Based on the end-use, the hernia repair devices market is fragmented into hospitals, clinics, and ambulatory surgical centers. The hospital segment was worth more than USD 1,900 million in 2021 and may register significant gains in the forthcoming years. The adoption of these devices across hospitals is expected to witness a commendable rise, given that these establishments are better equipped to stock advanced, high-performance medical devices. Also, the availability of skilled healthcare professionals ensures better post-surgical care across these environments.
The Asia-Pacific region is estimated to exhibit the highest growth rate during the Hernia Repair Devices Market forecast period.
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific is expected to witness the fastest growth in terms of revenue over the forecast period. Increasing medical tourism, affordable treatment, technological advancements, and rising healthcare reimbursements are some of the factors driving the market in this region. In addition, the demand for hernia repair devices is increasing in Asian countries, especially Japan and China, owing to a large patient pool. The region is expected to witness robust growth owing to a large number of undiagnosed and untreated cases, which is expected to further fuel the growth of the market in this region.
The global Hernia Repair Devices Market report includes players such as Becton Dickenson & Company, Medtronic, Ethicon (J&J), B. Braun Melsungen AG, CooperSurgical (The Cooper Companies), Cook Medical, Baxter International, Inc., W.L. Gore & Associates, Integra LifeSciences, AbbVie, FEG Textiltechnik, Stryker Corporation, among others. in February 2017, Allergan plc (now AbbVie) acquired LifeCell Corporation, a firm engaged in the production and marketing of regenerative medicine. The acquisition added LifeCell’s new regenerative medicines business, comprising its high-quality and long-lasting portfolio of dermal matrix products, to the former’s leading portfolio of regenerative products. This move enabled Allergan to enter regenerative medicine and assisted in developing a more comprehensive product offering regarding hernia repair devices.
.Recent Developments in the Hernia Repair Devices Market:
- In July 2021, BD acquired Tepha, Inc., to Drive New Innovations in Soft Tissue Repair and Regeneration. This strategic acquisition advances BD’s category leadership in surgical mesh and enables future innovations to provide new solutions to physicians and their patients
- In August 2020, Deep Blue Medical Advances, Inc., a medical devices company, announced that it received 510 (k) clearance from the U.S. Food and Drug Administration (FDA) for its new T-Line, a hernia mesh. The mesh helps to prevent the occurrence or reoccurrence of hernias following abdominal surgery.
- In July 2020, TELA Bio, Inc., a commercial-stage medical technology company, announced the results of an interim analysis from the company’s post-market BRAVO study evaluating the clinical performance of OviTex for the treatment of ventral hernias.
Hernia Repair Devices Market Report Coverage
- The report offers a comprehensive quantitative as well as qualitative analysis of the current global Hernia Repair Devices Market outlook and estimations from 2021 to 2031, which helps to recognize the prevalent opportunities.
- A thorough analysis of market trends and restraints is provided.
- Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
- The forecasts in this report are made by examining the recent trends along with future Hernia Repair Devices Market potential from 2021 to 2031 in terms of revenue.
- Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Hernia Repair Devices Market are also analyzed.
- Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global surface disinfectants industry.
Global Hernia Repair Devices Market Segments
- Hernia Mesh
- Fixation Devices
- Open Surgery
- Laparoscopic Surgery
- Robotic Surgery
By Hernia Type
- Inguinal Hernia
- Ventral Hernia
- Femoral Hernia
- Ambulatory Surgical Centers
- North America
- The U.S.
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Rest of World
- Latin America
- Middle East
- Becton Dickenson & Company
- Ethicon (J&J)
- B. Braun Melsungen AG
- CooperSurgical (The Cooper Companies)
- Cook Medical
- Baxter International, Inc.,
- W.L. Gore & Associates
- Integra LifeSciences
- FEG Textiltechnik
- Stryker Corporation
- Blackmores Limited