Hernia Repair Devices and Consumables Market Size Booming with 3.6% CAGR - 2027 | Allergan Plc, Baxter International Inc, B. Braun Melsungen AG

Rise in advanced meshes demand, surge in implementation of robotic surgeries, and increase in number of hernia patients drive the global hernia repair devices and consumables market. However, high costs related to repair surgeries of hernia and stringent reimbursement policies restrain the market growth. On the other hand, technological advancements and opportunities in emerging countries offer new opportunities in the coming years.

Global hernia repair devices and consumables market generated $4.74 billion in 2019, and is projected to reach $6.35 billion by 2027, growing at a CAGR of 3.6% from 2020 to 2027.The consumables segment accounted for more thanfour-fifthsof the total market share in 2019.

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COVID-19 Scenario:

The demand for hernia repair devices and consumables has significantly dropped during the coronavirus pandemic. Many patients have postponed surgeries due to fear of infection. Moreover, some doctors have also been recommending postponement or conducting surgeries such as hernia repair in extreme conditions only.
Manufacturing and research & development (R&D) activities have been drawn to a close by the manufacturers due to lockdown restrictions by governments. However, some of the factories have started production up to certain extent as restrictions are being lifted off.
Factors such as increase in number of hernia surgical procedures, rise in prevalence of hernia, surge in adoption of advanced meshes rather than conventional meshes, and technological advancements in hernia surgeries such as use of robotic surgeries are anticipated to drive the adoption of these devices. However, high cost of hernia surgical procedures and inconsistent reimbursement policies hamper the market growth. Conversely, development of advanced hernia repair devices and growing scope in untapped emerging economies provide lucrative growth opportunities for the market growth.

The open tension-free repair surgery segment to maintain its lead position by 2027:

Based on surgery type, the open tension-free repair surgery segment contributed to more than four-fifths of the global hernia repair devices and consumables market in 2019, and is estimated to maintain its lead position in terms of revenue by 2027. This is due to surge in implementation of open tension-free repair technique, in which, surgical mesh acts as a bridge for growth of new tissues to consolidate the abdominal wall. However, the laparoscopic surgery segment is projected to witness the fastest CAGR of 4.5% during the forecast period. This is attributed to its benefits such as reduction in post-operative pain, rapid recovery, and short hospital stays.

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North America to maintain its dominance in terms of revenue throughout the forecast period:

Based on region, North America contributed the majority share, with nearly two-fifths of the total market share of the global hernia repair devices and consumables market in 2019, and will maintain its dominance throughout the forecast period. This is attributed to early approval of hernia repair devices and surge in number of hernia procedures. However, Asia-Pacific is expected to portray the fastest CAGR of 4.9% during the forecast period, owing to affordability, rise in healthcare expenditure, and increase in awareness regarding hernia repair surgeries in emerging nations.

Market players grabbing the largest pie

Allergan Plc.
Baxter International Inc.
B. Braun Melsungen AG
Becton, Dickinson and Company (C.R. Bard, Inc.)
Cook Medical, Inc.,
HerniameshS.r.l.
Medtronic Plc.
Johnson & Johnson (Ethicon Inc.)
The Cooper Companies, Inc.
W. L. Gore & Associates, Inc.

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