Hernia Repair Devices and Consumables Market to Surpass US$ 11,911.8 Million by 2027 - Coherent Market Insights

Published On : Nov 25, 2019

The global hernia repair devices and consumables market by Product Type (Fixation Devices (Sutures, Tackers (Permanent and Absorbable), Sealants & Adhesives, Meshes (Synthetic and Biologic), and Surgical Instruments), by Surgery Type (Laparoscopic Surgery and Tension Free Repair Surgery), by Hernia Type (Incisional Hernia, Umbilical Hernia, Inguinal Hernia, Femoral Hernia, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)  was valued at US$ 6,589.3 million in 2018 and is expected to exhibit a CAGR of 6.8% over the forecast period (2019–2027), as highlighted in a new report published by Coherent Market Insights.

Increasing demand for laparoscopic surgeries is expected to drive global hernia repair devices and consumables market growth over the forecast period. This has encouraged manufacturers to focus on product innovation, approvals, and product launches to strengthen their presence in the emerging markets. For instance, in April 2014 ‘Covidien’s’ (a Medtronic Subsidiary) product ‘Relia Tack’ received the U.S. Food and Drug Administration (FDA) approval, it is an articulating reloadable fixation device used in hernia surgery. Moreover, in March 2016, iMesh, Inc. (U.S-based company), received the U.S. Food and Drug Administration (FDA) Clearance for its modified version of iMesh Tacker.

Furthermore, in August 2017, Fortimedix launched shorter set of instruments for its SymphonX single-port surgical platform, which can be used during inguinal hernia repair. This is expected to increase scope of laparoscopic surgeries and is expected to drive global hernia repair devices and consumables market growth.

Increasing technological advancements and product innovations for treating hernia are expected to boost the global hernia repair devices and consumables market growth over the forecast period. For instance, in May 2019, according to the American College of Surgeons, surgical researchers developed an online app, where patients and surgeons can use as a guide for preoperative planning, and establish a layout demonstration for how a patient’s ventral hernia repair operation will be carried out.

Browse 37 Market Data Tables and 26 Figures spread through 176 Pages and in-depth TOC on "Global Hernia Repair Devices and Consumables Market by Product Type (Fixation Devices (Sutures, Tackers (Permanent and Absorbable), Sealants & Adhesives, Meshes (Synthetic and Biologic), and Surgical Instruments), by Surgery Type (Laparoscopic Surgery and Tension Free Repair Surgery), by Hernia Type (Incisional Hernia, Umbilical Hernia, Inguinal Hernia, Femoral Hernia, and Others) by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)  - Global Forecast to 2027"

To know the latest trends and insights prevalent in the hernia repair devices and consumables market, click the link below:

https://www.coherentmarketinsights.com/market-insight/hernia-repair-devices-and-consumables-market-226

Manufacturers are focusing on technological advancements and adopting inorganic growth strategies such as acquisition to enhance its product portfolio.

For instance, in September 2018, TransEnterix, a U.S.-based company acquired Medical Surgery Technologies (MST), an Israel-based medical technology company. This acquisition will enhance TransEnterix ‘Senhance digital laparoscopy platform’ by adding the technological advancement of MST AutoLap. AutoLap will show visual images while carrying out surgery.

Key takeaways of the market:

  • The global hernia repair devices and consumables market is expected to exhibit a CAGR of 6.8% over the forecast period (2019–2027), owing to increasing product launches and product approvals and technological advancements.
  • North America is expected to boost the global hernia repair devices and consumables market growth over the forecast period, owing to increasing prevalence of hernia in the region, which is expected to increase demand of hernia repair and consumables in North America region.
  • Increasing product launches and approvals and awareness campaigns for hernia is expected to drive the global hernia repair devices and consumables market growth over the forecast period. For instance, CSA surgical center June month is celebrated as National Hernia Awareness Month in U.S, to raise public awareness about hernias and effective treatment for it.
  • Some of the major companies offering hernia repair devices and consumables 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.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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