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Hernia Repair Devices Market: Insights, Trends, and Key Players | 5.65% CAGR Forecast 2024-2031
Hernia Repair Devices Market - DataM Intelligence
Hernia Repair Devices Market is estimated to grow at a CAGR of 5.65% during the forecast period 2024-2031.
A hernia occurs when internal organs or fatty tissue protrude through a weak spot in the surrounding muscle or connective tissue called the fascia. This condition most commonly occurs within the abdominal cavity, between the chest and hips. Inguinal hernia, femoral hernia, umbilical hernia, hiatal hernia, and others are among the most prevalent types of hernias observed globally.
Signs and symptoms of a hernia include swelling in the groin, pain at the site of the bulge, discomfort while lifting, enlargement of the bulge over time, aching sensation, and potential bowel obstruction.
Hernia repair devices are utilized in surgical procedures to correct hernias. These devices are employed in both laparoscopic and open repair surgeries. The market for hernia repair devices is primarily driven by the availability of hernia mesh, including synthetic and biologic mesh, as well as mesh fixators such as sutures, tack applicators, and glue applicators. These devices play a crucial role in providing support and reinforcement during hernia repair procedures, aiding in successful surgical outcomes.
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Hernia Repair Devices Industry Trends
Increasing funding and investment for the development of hernia repair devices are anticipated to propel market growth. Numerous companies are securing funding and investment to advance the innovation of hernia repair devices.
For example, in January 2020, Virtual Incision Corporation successfully raised USD 20 million in a Series B+ financing round led by investor Bluestem Capital, with participation from returning investor PrairieGold Venture Partners and Genesis Innovation Group, along with other affiliated investors.
This substantial funding is earmarked to support regulatory and clinical programs aimed at commercializing the miniaturized in vivo robotic assistant (MIRA) Surgical Robotic Platform. This platform is designed for various applications, including hernia repair, gallbladder removal, anti-reflux surgery, splenectomy, adrenalectomy, gastric sleeve, gastric bypass, hysterectomy, and hepato-pancreato-biliary procedures. As a result, with the influx of investment and advancements in technology, the hernia repair devices market is expected to witness significant growth in the forecast period.
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Hernia Repair Devices Industry Key Players
By Product type
Mesh & Patch
Endoscopy Instruments
Surgical Instruments
Others
By Hernia type
Inguinal hernia
Hiatal hernia
Umbilical hernia
Incisional hernia
Femoral Hernia
Spigelian Hernia
Flank/Lumbar Hernia
Epigastric Hernia
By Therapeutic area type
Abdomen
Upper Thigh
Belly button
Groin
By Treatment
Laparoscopic Surgery
Open Tension Repair
Non Tension Repair
Robotic Repair
Abdominal Wall Reconstruction
Industry Key Players
Major players are Medtronic Plc, Ethicon Inc., Atrium, Lifecell Corporation, B Braun Melsungen AG, Baxter International, Inc., Cook Medical, Becton, Dickinson and Company, CooperSurgical Inc., Insightra Medical, Inc., Olympus Corporation, and Integra Lifesciences.
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