Hernia Repair Devices and Consumables Market is Expected to Reach $6.1 Billion, Globally, by 2020
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Increase in number of hernia repair surgeries (laparoscopy and open tension-free repair) would be the prime factor responsible for the market growth during the forecast period. As per AMR analysis, total number of hernia repair surgery was ~27 million in 2013 and is expected to reach ~36 million by 2020. Furthermore, other factors driving the market include emergence of novel meshes, technologically advanced hernia fixation devices and growing obese population. However, lack of adequate reimbursement policies and high cost associated with hernia repair procedures would restrain the market growth to a certain extent.
Healthcare professionals still prefer synthetic mesh for hernia repair surgeries despite of chronic pain associated with it. However, biological meshes would be the ultimate choice for patients with high risk. Popularity of synthetic mesh is largely due to the attributes such as cost effectiveness, lesser risk of infection (less than 3%) and hard-wearing (remain permanently in the body). In case of biological mesh, it has few limitations such as risk of infection and less stronger as compared to synthetic mesh. Ongoing improvements in meshes such as absorbable, non-absorbable or partially absorbable is also a significant factor fuelling the consumables market.
Inguinal hernia is most prevalent type of hernia across the world and hence accounted for about 3/4thof the hernia repair market revenue in 2014. Geographically, North America and Europe, collectively contribute ~75% of the market share in 2013 due to increasing adoption of laparoscopic surgery and rising incidences of hernia. Asia-Pacific and LAMEA market is posed to grow at a significant pace due to increasing awareness and rising per capita expenditure on healthcare.
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Key findings of Hernia Repair Devices and Consumables Market:
Consumables segment is most attractive segment with faster growth and higher revenue share within hernia repair market
North America will remain the leading region through 2020, closely followed by Europe
Incisional Hernia is expected to be the fastest growing market segment during the forecast period
Key product manufacturing companies profiled in the report include Medtronic (Covidien), Ethicon, Davol, Cooper Surgical, Cook Medicals, LifeCell Corporation, Insightra medical, B Braun Melsungen, W. L. Gore Inc. and Baxter Inc.
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We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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Hernia Repair Devices and Consumables Market
A hernia is the egress of an organ, such as the intestines, through an aperture in the tissue or muscle that holds it in its place. Hernias can be of various types. Predominantly, they involve the abdomen, especially the groin. Hernias can appear in the belly button or upper thigh. However, groin hernias occur the most among inguinal type (protuberance of the contents of the abdominal-cavity all the way through