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Feb 17, 2020 7:00 PM ET

Hernia Repair Market: Comprehensive Research Including Top Companies and Forecasts Report 2018-2023




iCrowd Newswire - Feb 17, 2020

The increasing adoption of mesh in hernia repair surgeries, rising geriatric population, new product developments, and efficient reimbursement system in developed countries are the major factors driving the growth of the hernia repair market during the forecast period.

 

The hernia repair market is projected to reach USD 4.75 billion by 2023 from USD 4.09 billion in 2018, at a CAGR of 3.0% during the forecast period.

 

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:

 

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.

 

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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.

 

Geographical Region Covered

 

Geographically, 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 2017, North America was 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. The adoption of hernia mesh devices, particularly biologic mesh devices, is the highest in the US.

 

As these devices are priced at a premium, their high demand is resulting in large revenue generation for companies operating in the US. In addition, the majority of prominent market players operate in the North American market owing to which the access to new and advanced hernia repair is high in this regional market. Also, other factors such as the presence of a large pool of hernia patients and an efficient and favorable healthcare system are supporting the growth of the hernia repair market in North America.

 

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Leading Companies

 

The major players in the hernia repair market profiled in this report are Covidien Plc (Medtronic Plc) (Ireland), Ethicon (Johnson & Johnson Services, Inc.) (US), B. Braun Melsungen AG (Germany), C.R. Bard (Becton, Dickinson and Company) (US), W. L. Gore & Associates (US), LifeCell Corporation (Allergan) (Ireland), Maquet (Getinge AB) (Sweden), Cook Medical (US), and Integra Lifesciences (US). Other players include DIPROMED (Italy), FEG Textiltechnik mbH (Germany), Cousin Biotech (France), Herniamesh (Italy), Aspide Medical (France), TransEasy Medical (China), and Via Surgical (Israel).



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Keywords:    Hernia Repair Market, Hernia Mesh Market

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