Chicago, March 06, 2024 (GLOBE NEWSWIRE) -- Hernia Repair market in terms of revenue was estimated to be worth $4.1 billion in 2024 and is poised to reach $5.1 billion by 2029, growing at a CAGR of 4.2% from 2024 to 2029 according to a latest report published by MarketsandMarkets™. The growth of the market is largely driven by the technological advancements and advantages of mesh in hernia repair. Furthermore, availability of reimbursement is anticipated to further propel market growth.
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Hernia Repair Market Scope:
| Report Coverage | Details |
| Market Revenue in 2024 | $4.1 billion |
| Estimated Value by 2029 | $5.1 billion |
| Growth Rate | Poised to grow at a CAGR of 4.2% |
| Market Size Available for | 2021–2029 |
| Forecast Period | 2024–2029 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Clinical indication, Surgery type, End user, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunity | Growth potential offered by emerging markets |
| Key Market Driver | Increasing hernia prevalence |
Based on the product, hernia repair is segmented into mesh, sutures, mesh fixator, and other products. During the forecast period, meshes are expected to dominate the hernia repair market. The growth of the mesh segment will be driven by availability of wide range of existing mesh types and the introduction of advanced meshes.
Based on clinical indication, hernia repair is segmented into inguinal hernia, ventral hernia, femoral hernia, hiatal hernia and other clinical indications. During the forecast period, inguinal hernia is expected to dominate the hernia repair market. Inguinal hernia is the most common type of hernia furthermore in males than females which is anticipated to further propel market growth.
Based on surgery type, the hernia repair market is segmented into laparoscopic surgery, open surgery and robotic surgery. During the forecast period, the open surgery segment is estimated to hold the largest market share during the forecast period. The economical approach and time efficiency of the technique led to the increasing adoption of hernia repair is the major driver for growth.
Based on end user, the hernia repair market is segmented into hospitals & clinics, ambulatory surgical centers, and other end users. During the forecast period, hospitals & clinics is expected to account for the largest market share in the hernia repair market. The large share of this segment is attributed to the high demand for hernia repair products in hospitals & clinics.
The hernia repair market covers five key geographies—North America, Europe, Asia Pacific, Latin America, and the Middle East. The market in the Asia Pacific region is expected to offer significant opportunities for the growth of the hernia repair market in 2024. The growth of the market can be attributed to the presence of a large target patient population, improving diagnosis and treatment rates for hernia, and growing adoption of advanced treatment options in several Asia Pacific countries.
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Hernia Repair market major players covered in the report, such as:
- Ethicon Inc. (US)
- AbbVie Inc. (US)
- Medtronic plc (Ireland)
- Becton Dickinson and Company (US)
- Baxter International Inc. (US)
- B. Braun SE (Germany)
- W. L. Gore & Associates (US)
- Cook Group Inc (US)
- Integra Lifesciences Holdings Corporation (US)
- and Among Others
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This report has segmented the global hernia repair market based on product, clinical indication, surgery type, end user, and region.
Global Hernia repair Market, by Product
- Mesh
- Synthetic Mesh
- Biologic Mesh
- Suture
- Absorbable Suture
- Non-Absorbable Suture
- Mesh Fixator
- Tach Applicators
- Glue Applicators
- Other Products
Global Hernia repair Market, by Clinical Indication
- Inguinal Hernia
- Ventral Hernia
- Incisional Hernia
- Epigastric Hernia
- Umbilical Hernia
- Femoral Hernia
- Hiatial Hernia
- Other Clinical Indications
Global Hernia repair Market, by Surgery Type
- Laparoscopic Surgery
- Open Surgery
- Robotic Surgery
Global Hernia repair Market, by End User
- Hospitals & Clinics
- Ambulatory Surgical Centers
- Other End Users
Global Hernia repair Market, by region
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- Rest of the Middle East & Africa
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Key Market Stakeholders:
- Hernia mesh and mesh fixator manufacturers
- Third-party hernia mesh product suppliers
- Raw material suppliers
- Market research and consulting firms
- Regulatory bodies
- Venture capitalists
- Hospitals
Report Objectives:
- To define, describe, and forecast the hernia repair market on the basis of on product, clinical indication, surgery type, end user, and region.
- To provide detailed information regarding the major factors influencing the growth potential of the global hernia repair market (drivers, restraints, opportunities, challenges, and trends).
- To analyze the micro markets with respect to individual growth trends, future prospects, and contributions to the global hernia repair market.
- To analyze key growth opportunities in the global hernia repair market for key stakeholders and provide details of the competitive landscape for market leaders.
- To forecast the size of market segments and/or subsegments with respect to five major regions, namely, North America (the US and Canada), Europe (Germany, the UK, France, Italy, Spain, and Rest of Europe), Asia Pacific (Japan, China, India, Australia, South Korea, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and the Middle East and Africa (GCC Countries and Rest of MEA).
- To profile the key players in the global hernia repair market and comprehensively analyze their market shares and core competencies.
- To track and analyze the competitive developments undertaken in the global hernia repair market, such as agreements, expansions, and & acquisitions.
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