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Hernia Repair Market Expected to Achieve Remarkable Growth, Valued at US$ 3.81 Billion in 2022, with a Projected CAGR of 8.4%
Hernia Repair Market
This comprehensive report aims to provide stakeholders in the industry with a thorough analysis of the Global Hernia Repair Market. The report presents both historical and current industry status, forecasts market size and trends, and simplifies complex data for easy comprehension. Key player analysis includes market leaders, followers, and new entrants, while analytical tools such as PORTER and PESTEL analyses offer insights into potential micro-economic impacts.
Both external and internal factors affecting the industry are analyzed to provide decision-makers with a forward-looking perspective. The report delves into market dynamics, structure, and segmentation, facilitating a clear understanding of competitive analyses based on type, price, financial position, product portfolio, growth strategies, and regional presence.
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What are Hernia Repair Market Dynamics?
Market Drivers:
The Hernia Repair Market is primarily driven by the prevalence of hernia-related surgeries, particularly among males. Factors such as obesity, smoking, unhealthy lifestyles, and aging contribute to hernia occurrence, especially among adults. An estimated 25% of men and 2% of females develop inguinal hernias. The high incidence rate has prompted increased adoption of efficient hernia repair solutions, thereby fostering market growth.
Market Restraints:
Despite promising growth, certain factors present challenges to the Hernia Repair Market. High procedure costs, unfavorable reimbursement policies, and the cost of hernia repair surgeries may hinder market expansion. Limited availability of skilled professionals, lack of awareness among the population, and expensive new products and procedures could also impact market development.
Regulatory concerns and safety considerations for hernia repair products have led to stringent approval processes, potentially impeding market growth. In a healthcare system reliant on publicly funded services, waiting lists for procedures like abdominal wall surgery pose challenges, affecting patient care quality and timely access.
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Hernia Repair Market Segmentation?
Hernia mesh and hernia fixation devices are the two categories into which the hernia repair market is divided based on product type. Due to the widespread use of these devices, the hernia mesh sector, which had a revenue share of 76.1%, dominated the market.
The market is divided into open surgery and laparoscopic surgery based on the type of technique. Due to advantages including low cost and fewer post-operative complications, open surgery now leads the market and will continue to do so during the projection period. In order to do open hernia surgery, the abdomen must be extensively incised.
by Product Type
Hernia Mesh
Hernia Fixation Devices
by Procedure Type
Open Surgery
Laparoscopic Surgery
by Surgery Type
Inguinal Hernia Repair
Incisional/Ventral Hernia Repair
Umbilical Hernia Repair
Femoral Hernia Repair
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Who are Hernia Repair Market Key Players?
1. B Braun Melsungen AG (Germany)
2. Cook Medical (USA)
3. Medtronic Plc (Dublin)
4. W.L. Gore & Associates (USA)
5. Ethicon Inc. (USA)
6. C.R Bard Inc. (USA)
7. Atrium (USA)
8. LifeCell Corporation (USA)
9. Baxter International (USA)
10. Herniamesh S.R.L. (Italy)
11. Allergan Plc (Dublin)
12. Johnson & Johnson (USA)
13. The Cooper Companies (USA)
14. Dickinson and Company (USA)
15. DynaMesh (USA)
16. Integra Life Sciences (USA)
17. Meril Life Sciences (USA)
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Table of content for the Hernia Repair Market includes:
Global Hernia Repair Market : Research Methodology
Global Hernia Repair Market : Executive Summary
Market Overview and Definitions
Introduction to the Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry
Global Hernia Repair Market : Competitive Analysis
MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
M&A by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact
Global Hernia Repair Market Segmentation
Global Market, by Product Type (2021-2029)
Global Market, by Procedure Type (2021-2029)
Global Market, by Surgery Type (2021-2029)
Global Regional Hernia Repair Market (2021-2029)
Regional Market, by Product Type (2021-2029)
Regional Market, by Procedure Type (2021-2029)
Regional Market, by Surgery Type (2021-2029)
Regional Market, by Country (2021-2029)
Global Company Profile: Key players
Company Overview by Country
Financial Overview
Global Presence
Capacity Portfolio
Business Strategy
Recent Developments
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Regional Insights:
North America currently dominates the Hernia Repair Market with a share of 50.0% in 2022. Sedentary lifestyles, a growing geriatric population, and a higher hernia recurrence rate drive market growth in this region. Rising healthcare expenditure and expedited FDA approvals also contribute to North America's market expansion.
Asia Pacific is poised to exhibit significant growth, projected to achieve a CAGR of 5.4% during the forecast period. The region benefits from a burgeoning medical tourism industry, affordable treatments, technological advancements, and increased healthcare reimbursements. Countries like Japan and China are witnessing rising demand for hernia repair devices due to a substantial patient pool. The prevalence of untreated cases further fuels market growth.
Key Offerings:
Past Market Size and Competitive Landscape (2018 to 2021)
Past Pricing and price curve by region (2018 to 2021)
Market Size, Share, Size & Forecast by different segment | 2022-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by Product
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
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