The Global Hernia Repair Devices and Consumables Market to Progress at CAGR of 3.80% by 2028

Triton Market Research presents the Global Hernia Devices and Consumables Market segmented by Surgery Type (Laparoscopic Surgery, Open Tension-Free Repair Surgery), Hernia Type (Umbilical Hernia, Inguinal Hernia, Femoral Hernia, Incisional Hernia, Other Hernia), Component (Fixation Devices [Tack (Non-Absorbable Tack, Absorbable Tack), Other Fixation Devices], Consumables [Biological Material Mesh, Synthetic Material Mesh [Non-Absorbable Mesh, Absorbable Mesh]), and by Geography (Asia-Pacific, Middle East and Africa, North America, Latin America, Europe). It further discusses the Market Summary; Industry Outlook; Porter's Five Forces Model; Impact of COVID-19; Legal, Policy, & Regulatory Framework; Market Attractiveness Index; Key Insights; Drivers; Restraints; Opportunities; Company Profiles; Research Methodology & Scope; Global Market Size; Forecasts & Analysis (2021-2028).

Triton's report intimates that the global market for hernia devices and consumables is probable to showcase growth at a CAGR of 3.80% during the reviewed phase of 2021-2028.

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A hernia is a disease type where the inner layers of abdominal muscles turn relatively weaker, and the abdomen lining bulges out to form a small sac-like structure. Here, a hernia treatment includes surgeries performed using mesh, formed of biological or synthetic material using fixation devices.

The rise in the strategic collaborations among robotic surgical equipment manufacturers is opening several new opportunities for the market to leverage to reach its expected growth. Globally, robotic surgeries have gained significant traction over the last few years. This is primarily owing to the high accuracy, surged consistency, and low possibilities of errors. Here, robotic assistance provides enhanced outcomes, particularly in repair procedures of inguinal hernia. However, the high cost of hernia repair surgeries is among the major factors negatively impacting the studied market's progress.

North America holds the largest market share in the hernia repair devices and consumables market, and is anticipated to continue its stronghold over the forecast period 2021-2028. In the region, the surge in the occurrence of hernia conditions, along with the enhanced healthcare facilities, are stimulating the progress of the studied market. Additionally, the supportive government measures and growing awareness relating to hernia surgeries, are another set of factors contributing to the growth of the hernia repair devices and consumables market.

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The key companies engaged in the given market consist of The Cooper Companies Inc, B Braun Melsungen AG, Cook Medical Inc, CR Bard Inc, Medtronic Plc, Baxter International Inc, Herniamesh SRL, Cryolife Inc, Allergan Plc, Integra Lifesciences Corporation, Johnson and Johnson (Ethicon Inc), Zimmer Biomet Inc, Via Surgical Ltd, and WL Gore & Associates.

The low capital investment, high volume demand, low product differentiation, and incorporation of low-cost technology, enable the entry of several new players, leading to the high threat of new market players. On the other hand, the competition among the existing market players is relatively high, owing to low product differentiation. Additionally, the exit barriers are low, with new players entering the market, which significantly increases the competition among the current players in the hernia repair devices and consumables market over the estimated period.

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