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Hernia Repair Market Market size, Industry Analysis and Forecast to 2023
[151 Pages Report] The Hernia Repair Market is expected to reach USD 4.75 Billion by 2023 from USD 3.97 Billion in 2017, at a CAGR of 3.0% during the forecast period.
The increasing adoption of mesh in hernia repair surgeries, rising geriatric population, new product developments, and efficient reimbursement system in developed countries are the major factors driving the growth of the Hernia Repair Market during the forecast period.
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The hernia mesh segment is further categorized on the basis of type and surgery.
On the basis of type, this market is segmented into synthetic and biologic mesh. In 2018, the synthetic mesh segment is expected to account for the largest share of the hernia mesh market. This large share can be attributed to the low cost of synthetic mesh in comparison to biologic mesh.
Based on surgery, the Hernia Repair Market is segmented into inguinal hernia, incisional/ventral hernia, femoral hernia, and umbilical hernia. Of these, the inguinal hernia segment is expected to account for the largest market share in 2018. The large share of this segment is attributed to the high number of inguinal hernia repair surgeries performed worldwide every year.
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On the basis of product, the Hernia Repair Market is segmented into mesh and mesh fixators. A mesh is used for reinforcing weak spots in the muscle while repairing the hernia. Mesh fixators are used to fix the mesh in its place to avoid displacement. In 2018, the mesh segment is expected to account for the largest share of the market. This large share can be attributed to the higher prices of meshes compared to mesh fixators.
Objectives of the Study:
- To define, describe, and forecast the global Hernia Repair Market on the basis of product, type of surgery, and region
- To provide detailed information regarding the major factors influencing growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
- To strategically analyze the micromarkets with respect to individual growth trends, future prospects, and contributions to the total market
- To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
- To forecast the revenue of the market segments with respect to four main regions, namely, North America, Europe, Asia Pacific, and the Rest of the World
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The major players in the Hernia Repair Market profiled in this report are Covidien Plc (Medtronic Plc) (Ireland), Ethicon (Johnson & Johnson Services, Inc.) (US), B. Braun Melsungen AG (Germany), C.R. Bard (Becton, Dickinson and Company) (US), W. L. Gore & Associates (US), LifeCell Corporation (Allergan) (Ireland), Maquet (Getinge AB) (Sweden), Cook Medical (US), and Integra Lifesciences (US). Other players include DIPROMED (Italy), FEG Textiltechnik mbH (Germany), Cousin Biotech (France), Herniamesh (Italy), Aspide Medical (France), TransEasy Medical (China), and Via Surgical (Israel).
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