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Press Release: Hernia Repair Devices Market to Reach US$ 10,587.5 Million by 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
A hernia occurs when an organ or fatty tissue squeezes through a weak spot in a surrounding muscle or connective tissue called fascia. The most common types of hernia are inguinal (inner groin), incisional (resulting from an incision), femoral (outer groin), umbilical (belly button), and hiatal (upper stomach). A hernia is usually treated with surgery. There are three main types of hernia surgery: open repair, laparoscopic (minimally invasive) repair, and robotic repair.
The global hernia repair devices market is estimated to account for US$ 6,381.7 Mn in terms of value in 2020 and is expected to reach US$ 10,587.5 Mn by the end of 2027.
Global Hernia Repair Devices Market: Drivers
Increasing prevalence of hernia is expected to propel growth of the global hernia repair devices market over the forecast period. For instance, according to the study, Prevalence and risk factors for abdominal wall hernia in the general Russian population’, published in May 2019, abdominal wall hernias were found in 20.9% of population.
Moreover, increasing geriatric population is also expected to boost demand for hernia repair market. For instance, according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034.
Polymer and Prosthetic Mesh held dominant position in the global hernia repair devices market in 2019, accounting for 42.2% share in terms of value, followed by Biologic materials respectively.
Figure 1. Global Hernia Repair Devices Market Share (%), by Value, by Product Type, 2019
Global Hernia Repair Devices Market: Restraints
Stringent regulatory approval process is expected to hinder growth of the global hernia repair devices market.
Moreover, high cost of R&D of hernia repair devices is also expected to limit the market growth. A manufacturer of hernia repair device has to satisfy various regulatory and clinical requirements before launching the product. This prolonged phase of development and approvals forces medical devices manufacturers to maintain initial high cost of hernia repair devices. High cost of products results in lack of appropriate accessibility to various technological advancements, thereby hampering the uptake.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2019 | Market Size in 2019: | US$ 5,936.4 Mn |
| Historical Data for: | 2016 to 2019 | Forecast Period: | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR: | 7.5% | 2027 Value Projection: | US$ 10,587.5 Mn |
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| Companies covered: |
Johnson & Johnson Services, Inc., Cooper Companies Inc., Lifecell Corporation (Allergan Plc), W. L. Gore & Associates, Inc., Maquet Holding B.V. & Co. KG, Becton, Dickinson and Company, Medtronic Plc, Cook Medical Inc., Baxter International Inc., and B. Braun Melsungen AG. |
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Global Hernia Repair Devices Market: Opportunities
Focus on countries with increased composite mesh adoption is expected to offer lucrative growth opportunities for players in the global hernia repair devices market. Introduction of novel and technologically advanced hernia repair devices offers rewarding business opportunities for manufacturers of hernia repair mesh systems. Increased adoption of composite mesh systems, which are premium-priced, indicates growth of the overall hernia repair devices market. Major countries that experience increased use of composite meshes are the US, Canada, Germany, France and others.
Moreover, R&D in hernia repair devices is also expected to aid in growth of the market. For instance, in July 2020, researchers from University Politehnica of Bucharest, Romania, reported that hydrogel coatings based on methacryloyl gelatin and methacryloyl mucin have potential to modulate polypropylene mesh integration in abdominal wall repair.
The global hernia repair devices market was valued at US$ 5,936.4 Mn in 2019 and is forecast to reach a value of US$ 10,587.5 Mn by 2027 at a CAGR of 7.5% between 2020 and 2027.
Figure 2. Global Hernia Repair Devices Market Value (US$ Mn), and Y-o-Y Growth (%), 2019-2027
Market Trends/Key Takeaways
Increasing awareness regarding hernia is expected to propel growth of the global hernia repair devices market over the forecast period. 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 celebrate April as a congenital diaphragmatic hernia (CDH) awareness month.
Major players in the global hernia repair devices market are focused on launching new products to expand their product portfolio. For instance, in September 2019, ACell, Inc. and Southmedic launched Gentrix Surgical Matrix family of devices, which includes ACell’s platform MatriStem UBM (Urinary Bladder Matrix) technology. The Gentrix Surgical Matrix family of devices are used for the treatment of hernia and abdominal wall repair.
Global Hernia Repair Devices Market: Competitive Landscape
Major players operating in the global hernia repair devices market include, Johnson & Johnson Services, Inc., Cooper Companies Inc., Lifecell Corporation (Allergan Plc), W. L. Gore & Associates, Inc., Maquet Holding B.V. & Co. KG, Becton, Dickinson and Company, Medtronic Plc, Cook Medical Inc., Baxter International Inc., and B. Braun Melsungen AG.
Global Hernia Repair Devices Market: Key Developments
Major players in the global hernia repair devices market are focused on investing in R&D to expand their product portfolio. For instance, B. Braun invested US$ 1,366.64 million in the expansion or replacement of production facilities and in research and development in the 2019 fiscal year.
Hernia is bulging of an organ or tissue. It occurs when an organ or any other body part protrudes through the wall of tissue or muscle of organs. Symptoms of hernia such as pain, vomiting, and constipation, heartburn and others can be observed during certain activities such as running or walking. Different types of abdominal wall hernias include inguinal hernia, femoral hernia, umbilical hernia, incisional hernia, spigelian hernia, obturator hernia, epigastric hernia, hiatal hernia, and diaphragmatic hernia. Most of the hernias are not severe, which can be removed by surgeries to prevent further complications. There are three treatment options for hernia, such as medication, surgery, and change in lifestyle.
Restraints of the Global Hernia Repair Devices Market
Major factors hampering the growth of the hernia repair devices market during the forecast period constitutes of stringent regulatory approval process.
Key features of the study:
Detailed Segmentation
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
*Browse 37 market data tables and 26 figures on "Hernia Repair Devices and Consumables Market - Global forecast to 2027”.
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