(PharmaNewsWire.Com, June 30, 2020 ) [151 Pages Report]The Hernia Repair Market is projected to reach USD 4.75 billion by 2023 from USD 4.09 billion in 2018, at a CAGR of 3.0% during the forecast period.
The rising adoption of mesh in hernia repair surgeries, rising geriatric population, new product developments, and favorable reimbursement scenario in developed countries are the major factors driving the growth of this market.
The report analyzes and studies the patient population affected with hernia in the US, Canada, Germany, France, the UK, Japan, China, and India. Along with patient population, the report studies the adoption of synthetic and biologic mesh in hernia repair surgeries and the adoption of suture, tack, and glue applicators for mesh fixation.
Recent Developments:
- In 2017, BD acquired C. R. Bard. With this acquisition, BD entered the hernia repair business. The acquisition is expected to help C. R. Bard to increase its geographic presence in terms of both—sales and operations and maintain its market position.
- In 2017, Allergan acquired LifeCell Corporation. This acquisition expanded its medical aesthetic products portfolio by the addition of ALLODERM and STRATTICE.
- In June 2017, W. L. Gore GORE launched SYNECOR Preperitoneal Biomaterial. The newly launched product helped the company to broaden its product offerings in the hernia market
The hernia mesh segment is estimated to account for the largest share of the hernia repair market
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 hernia 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.
In 2018, tack applicators to account for the largest share of the mesh fixators market
The hernia mesh fixators market is segmented into sutures, tack applicators, and glue applicators. Among these, sutures is the most common type of mesh fixator, followed by tack. However, due to the higher price of tacks, the tack applicators segment is expected to account for the largest share in the mesh fixators market in 2018. While the rising adoption of surgical glue as mesh fixators makes glue applicators the fastest growing segment of the mesh fixators market.
The global hernia repair market is segmented into four major regions, namely, North America, Europe, the Asia Pacific, and the Rest of the World (RoW). In 2018, North America is estimated to account for the largest market for hernia mesh devices. The large share of North America in this market can be attributed to the strong demand for and adoption of hernia repair in the US, presence of a large pool of hernia patients, and an efficient and favorable healthcare system are supporting the growth of the hernia repair market in North America.
Maior Key Players Mapped in Research Report:
The major players in the hernia repair market profiled in this report are Covidien ( Part of Medtronic) (Ireland), Ethicon (Part of Johnson & Johnson) (US), B. Braun (Germany), C.R. Bard (Part of Becton Dickinson) (US), W. L. Gore (US), LifeCell (Part of Allergan) (Ireland), Maquet (Part of Getinge) (Sweden), Cook Medical (US), Integra (US), DIPROMED (Italy), FEG (Germany), Cousin Biotech (France), Herniamesh (Italy), Aspide Medical (France), TransEasy Medical (China), and Via Surgical (Israel).
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