Hernia Repair Devices Market Size is Expected to Reach US$ 8.62 Billion by 2031, Rising at a Market Growth of 6.9% CAGR During the Forecast Period | Transparency Market Research, Inc.

The global 𝐡𝐞𝐫𝐧𝐢𝐚 𝐫𝐞𝐩𝐚𝐢𝐫 𝐝𝐞𝐯𝐢𝐜𝐞𝐬 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲, valued at US$ 5.5 Bn in 2020, is projected to experience a significant growth trajectory, with an estimated Compound Annual Growth Rate (CAGR) of 6.9% from 2021 to 2028, reaching US$ 8.62 Bn by 2031.

Amidst the challenges posed by the COVID-19 pandemic, cash-rich companies are increasingly engaging in mergers & acquisitions to drive innovation in this sector. The pandemic has prompted a potential acceleration of regulatory and clinical processes, historically time-consuming for introducing new hernia repair devices to the market. To address the cost barriers associated with advanced technologies, collaboration between med-tech companies, healthcare professionals, and clinicians is essential. Conducting thorough cost-benefit analyses before implementing new technologies like polymer & prosthetic meshes and surgical instruments can ensure the affordability and accessibility of these vital healthcare solutions.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅:
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𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐨𝐧 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞

Covidien plc,Ethicon,B. Braun Melsungen AG,C. R. Bard,W. L. Gore & Associates,LifeCell Corporation,Maquet,Cook Medical,Integra Lifesciences,DIPROMED,FEG Textiltechnik mbH,Cousin Biotech,Herniamesh,Stryker Corporation, among others

𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:

𝐏𝐫𝐨𝐝𝐮𝐜𝐭 & 𝐄𝐪𝐮𝐢𝐩𝐦𝐞𝐧𝐭

Polymer & Prosthetic Mesh
Biologic Materials
Surgical Instruments
Endoscopy Equipment

𝐏𝐫𝐨𝐜𝐞𝐝𝐮𝐫𝐞

Open Tension Repair
Tension Free Repair

𝐊𝐞𝐲 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬:

In June 2017, W. L. Gore & Associates, Inc. (Gore) received the FDA approval for its GORE SYNECOR Preperitoneal Biomaterial hernia repair device. GORE SYNECOR Preperitoneal Biomaterial is a novel solution for repairing preperitoneal hernias.

In March 2013, Covidien plc announced the launch of Symbotex composite mesh in the U.S., an innovative product designed to make surgical laparoscopic and open ventral hernia repairs easier for surgeons.

𝐑𝐢𝐬𝐞 𝐢𝐧 𝐏𝐫𝐞𝐯𝐚𝐥𝐞𝐧𝐜𝐞 𝐨𝐟 𝐇𝐞𝐫𝐧𝐢𝐚: 𝐊𝐞𝐲 𝐃𝐫𝐢𝐯𝐞𝐫

Increase in hernia prevalence is driven by population growth, especially among the elderly and obese.

Advancements in healthcare systems enable early detection and treatment of hernias, contributing to rising prevalence.

Obesity, a global health concern, increases the risk of hernias, with around 39% of adults globally being obese as per WHO data.

Global geriatric population growth directly impacts hernia repair devices market, as hernias are most common among the elderly.

Aging slows down the body's healing abilities, elevating hernia risk, with prevalence increasing with age; 5% in age 25 group and 31% in age 65-74 group have hernias.

Among men aged 75 & above, hernia incidence was found to be as high as 45%, highlighting the significance of effective hernia repair treatments.

𝐏𝐥𝐚𝐜𝐞 𝐚𝐧 𝐎𝐫𝐝𝐞𝐫 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭:
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𝐑𝐞𝐠𝐢𝐨𝐧𝐬 𝐂𝐨𝐯𝐞𝐫𝐞𝐝:

North America(USA, Canada and Mexico)
Europe(UK, Germany, France and the Rest of Europe)
Asia Pacific(China, Japan, India, and the Rest of the Asia Pacific region)
South America(Brazil, Argentina and the Rest of South America)
Middle East and Africa(GCC and Rest of the Middle East and Africa)

𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬:

Minimally invasive hernia repair procedures gaining traction.
Growing collaboration between med-tech companies and healthcare professionals to innovate hernia repair devices.
Increasing adoption of biocompatible materials in hernia repair devices for improved patient outcomes.

𝐅𝐮𝐭𝐮𝐫𝐞 𝐎𝐮𝐭𝐥𝐨𝐨𝐤:

The hernia repair devices market is expected to witness sustained growth as healthcare systems continue to evolve, and the demand for effective hernia treatments rises. Technological advancements and strategic partnerships are anticipated to drive innovation and accessibility in the market.

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐭𝐮𝐝𝐲 𝐏𝐨𝐢𝐧𝐭𝐬:

Prevalence of hernia among different age groups and regions.
Healthcare expenditure trends and reimbursement policies impacting market growth.
Adoption rates of various hernia repair devices across different healthcare facilities.

𝐁𝐫𝐨𝐰𝐬𝐞 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐓𝐌𝐑:

𝐒𝐭𝐚𝐢𝐧𝐥𝐞𝐬𝐬 𝐒𝐭𝐞𝐞𝐥 𝐂𝐚𝐛𝐥𝐞 𝐓𝐢𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2023/05/11/2667211/0/en/Latest-Stainless-Steel-Cable-Ties-Market-Size-is-Expected-to-Reach-US-1-1-Billion-by-2031-Rising-at-a-Market-Growth-of-5-4-CAGR-During-the-Forecast-Period-Transparency-Market-Resea.html

𝐂𝐚𝐩𝐫𝐲𝐥𝐨𝐲𝐥 𝐆𝐥𝐲𝐜𝐢𝐧𝐞 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2023/05/11/2667183/0/en/Demand-for-Capryloyl-Glycine-Market-Value-to-Reach-US-151-5-Mn-at-a-CAGR-of-8-1-2023-to-2031-TMR-Study.html

𝐀𝐛𝐨𝐮𝐭 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

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