New York, NY, July 23, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Hernia Repair Devices Market, by Mesh (Synthetic and Biological), by Fixation (Tack, Suture, Staple, and Glue), by Approach (Laparoscopic and Open), by Procedure (Femoral, Umbilical, Incisional/Ventral, Inguinal, and Others), by Care Setting (In-patient and Out-patient): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024”. According to the report, global hernia repair devices market was valued at approximately USD 4.5 billion in 2017 and is expected to generate revenue of around USD 6.2 billion by end of 2024, growing at a CAGR of around 4.6% between 2018 and 2024.
The global hernia repair devices market is mainly driven by growing prevalence of hernia cases all across the globe. Worldwide 20 million cases of both inguinal and femoral hernia repairs are performed. Moreover, each year approximately 1.2 million hernias are treated only in the U.S. Other major driving factors are increasing geriatric and obese population base all across the globe. According to the World Health Organization, the number of people of age 60 or above is estimated to be doubled by 2050 growing from 962 million globally in 2017 to 2.1 billion in 2050. However, the high cost of the hernia repair devices act as the restraint for the market and may affect its profit margins in the long term. Nonetheless, growing awareness about advantages of technologically advanced hernia repair devices over conventional methods along with significant merger and acquisition by the prominent market players to provide customers with devices according to their convenience and changing lifestyle is likely to disclose the new avenues for hernia repair devices market in the near future.
Browse through 133 Tables & 34 Figures spread over 110 Pages and in-depth TOC on "Global Hernia Repair Devices Market Size, Share 2017: By Type, Products, Trends, Analysis and Forecast, 2024”.
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The hernia repair devices market is divided by mesh, fixation, approach, procedure and care setting. Based on the mesh, hernia repair devices are segmented as synthetic and biological. By mesh segment, the biological mesh is estimated to cover the largest market share because of its comparatively fast recovery and less pain involved in the process.
Based on the fixation, hernia repair devices are segmented into tack, suture, staple, and glue. By fixation segment, tack is expected to acquire the largest market value share due to its high cost as compared to the other devices used for fixation. Increasing adoption of glue in hernia repair devices market is propelling its growth with the highest CAGR in the global market over the forecast period.
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Based on the approach, hernia repair devices are segmented as laparoscopic and open procedures. By the approach segment, the open approach is covering the largest market value share in the hernia repair device market. But over the period of time, the laparoscopic segment is projected to witness the highest CAGR growth as it requires less healing time.
Based on the procedure, hernia repair devices are segmented as femoral, umbilical, incisional/ventral, inguinal, and others. By the procedure, inguinal estimated to hold highest market value share, followed by incisional/ventral and umbilical hernia. Based on care setting, hernia repair devices are segmented as in-patient and out-patient.
Browse the full "Hernia Repair Devices Market, by Mesh (Synthetic and Biological), by Fixation (Tack, Suture, Staple, and Glue), by Approach (Laparoscopic and Open), by Procedure (Femoral, Umbilical, Incisional/Ventral, Inguinal, and Others), by Care Setting (In-patient and Out-patient): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024" report at https://www.zionmarketresearch.com/report/hernia-repair-devices-market
North America is estimated to hold the largest market value share in hernia repair devices market. The U.S. is by far the leading hernia repair devices market in North America. The U.S. market is expected to grow with significant CAGR during the forecast period. Significant investments in research and development along with the increasing hernia cases are supporting the growth of hernia repair devices market in North America. Additionally, the fund/grant provided by the government will accelerate the growth of hernia repair devices market.
North America is anticipated to be followed by Europe and is expected to show significant growth in the near future. This growth is mainly supported by the increasing healthcare infrastructure and high per capita income in this region.
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The Asia Pacific is expected to witness prominent growth over the estimated period. Developing and developed countries of Asia Pacific such as China, India, and Japan is expected to show significant growth in the hernia repair devices market. Growth in the Asia Pacific market is supported by the increasing awareness of the technologically advanced techniques for the treatment of hernia coupled with the increasing disposable income which allows the patients to invest in the repair procedure.
In the Middle East & Africa; African region is anticipated to register low to moderate growth rate mainly due to lack of awareness. Latin America is another prominent region witnessing the significant growth in hernia repair devices market.
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Some of the key players in hernia repair devices market include Cook Medical Inc., Cooper Surgicals Inc., Baxter International Inc., B. Braun Melsungen AG, LifeCell Corporation, W. L. Gore & Associates, Inc., C.R. Bard, Herniamesh S. R. L, Ethicon, Inc., Medtronic Plc, Atrium Medical Corporation, Purple Surgical International Ltd., Integra LifeSciences, Betatech Medikal, Insightra Medical Inc., and others.
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This report segments the global hernia repair devices market as follows:
Global Hernia Repair Devices Market: By Mesh
- Synthetic
- Biological
Global Hernia Repair Devices Market: By Fixation
- Tack
- Suture
- Staple
- Glue
Global Hernia Repair Devices Market: By Approach
- Laparoscopic
- Open
Global Hernia Repair Devices Market: By Procedure
- Femoral
- Umbilical
- Incisional/Ventral
- Inguinal
- Others
Global Hernia Repair Devices Market: By Care Setting
- In-Patient
- Out-Patient
Global Hernia Repair Devices Market: By Region
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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