Newark, NJ, Jan. 29, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global hernia repair market is expected to grow from USD 4.61 Billion in 2017 to USD 6.37 Billion by 2025 at a CAGR of 4.10% during the forecast period 2018-2025.
Increase in incidence of hernia, effectiveness of mesh repair, rising geriatric population base, adoption of robotic surgeries and strategic tie ups with the manufacturers of robotic surgery equipment for technological advancement are the factors which fuelling up hernia repair market.
A Hernia is a protruding of an organ or tissue through an abnormal opening. It occurs when an organ or any other body part bulges through the wall of tissue or muscle. The organs that bulges out from the body is usually abdominal fatty tissue present in the thin membrane that lines the inside cavity. In other words hernia occurs when an organ or internal tissue breaks through a hole in the muscles. In hernia repair surgery or herniorrhaphy there is returning of the displaced tissues to their respective position. Symptoms of a hernia can be observed during resting and running or walking. The common types of abdominal wall hernias include an inguinal hernia, femoral hernia, umbilical hernia, incisional hernia, spigelian hernia, obturator hernia, epigastric hernia and diaphragmatic hernia. Most of the hernias are not severe and require surgical removal of outgrowth to prevent further complications. There are three types of treatment options for a hernia, which include medication, surgery, and change in lifestyle. According to the National Center for Health Statistics, around 800,000 groin hernias were treated in the U.S in 2003.
Growing number of obese patients and high susceptibility of geriatric patients to suffer from hernia are driving the market. In addition, emerging markets hold great potential for growth of due to growing awareness and increase in patients in these regions. The availability of alternatives technologies and lack of skilled professionals to carry out the procedure may hamper the growth of the market. However, well-regulated healthcare insurance and increasing prevalence of an inguinal and ventral hernia in developed economies have increased acceptance of this product.
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The major players in global hernia repair market include Ethicon, Covidien, B. Braun Melsungen AG, C.R. Bard, LifeCell, W. L. Gore, Cook Medical, Maquet, DIPROMED, Integra, FEG, Herniamesh, Cousin Biotech, Aspide Medical, Via Surgical, TransEasy Medical, and others.
- Manufacturers are focusing on developing composite or hybrid mesh. For instance, in 2016, W. L. Gore & Associates, Inc. (Gore) launched GORE SYNECOR Biomaterial. It is a unique biomaterial for hernia repair and have received clearance from the U.S. Food and Drug Administration (FDA).
- Companies are involved in the technological advancements of hernia repair devices. For instance, Ariste Medical is developing drug-eluting mesh. These are anticipated to improve the patient outcomes specifically in vascular procedures including hernia and peripheral bypass hemodialysis processes. Medtronic and COOK Medical have invested in the development of cost-effective composite mesh. This product overcome the disadvantages associated with the synthetic mesh such as inflammation, sepsis and abdominal adhesion.
The hernia mesh segment is dominating the hernia repair market and anticipated to witness the highest CAGR of 6.37% in the forecast period
The product segment includes mesh and mesh fixators. The hernia mesh segment is dominating the hernia repair market and anticipated to witness the highest CAGR of 6.37% in the forecast period. A mesh is used in strengthening weak spots in the muscle while repairing the hernia. Mesh fixators are used to avoid displacement. The growth can be attributed to the higher prices of meshes as compared to mesh fixators.
The inguinal hernia segment is dominating the segment and held the largest market share of 47.30% in 2017
Surgery segment is classified into inguinal hernia, incisional/ventral hernia, femoral hernia, and umbilical hernia. The inguinal hernia segment is dominating the segment and held the largest market share of 47.30% in 2017. High number of inguinal hernia repair surgeries performed worldwide every year, which in turn is contributing for the growth of the segment.
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Regional Segment Analysis of the Hernia Repair Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America region dominated the global hernia repair market with the largest share of 43.11% in 2017 where as the Asia Pacific region is expected to witness lucrative growth in the forecast period. North America region held the largest share of the market due to improved health care facilities and the strong demand for adoption of hernia repair in the US. The adoption of biologic mesh devices is the highest in the US. These devices are priced at a premium, hence their high demand is generates large revenues for companies operating in the Region. In addition, the majority of prominent market players operate in the North American market. In addition, the presence of hernia patients in large number and an efficient and favorable healthcare system in US are also the reason that North America region held the largest market share. Asia Pacific is the second fastest growing region due to a large base of the target population, and large investment by the major companies in the country and increasing government funding in healthcare facilities.
About the report:
The global hernia repair market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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